Split Limit Studios

What Split Limit Studios does

InsurePay operates a cloud-based payment platform ecosystem purpose-built for the U.S. insurance industry. The platform connects carriers, Managing General Agents (MGAs), insurance agents and brokers, and policyholders to handle the full payment chain: premium collections, disbursements, claims payments, commissions, vendor payments, premium refunds, and automated reconciliation. A signature capability is pay-as-you-go workers' compensation premium billing that ingests real-time payroll data to calculate and collect premiums on actual wages rather than estimates, supported by integrations with payroll providers. Underlying technology is a multi-tenant cloud platform with embedded payments, payment links, custom integrations, and SOC 2 Type 2 compliance (certificate ID 21972-312_SOC_NonCPA). No public API, SDK, or AI/ML capabilities are disclosed. The product portfolio comprises eight interconnected modules: Pay-as-you-go Workers' Comp Billing, Premium Payments, Claims, Commissions, Reconciliation, Payables, Premium Refunds, and Vendor Payments.

InsurePay runs an enterprise field-sales motion targeting carriers, MGAs, and large agencies through dedicated segment landing pages, 'Contact Sales' and 'Book Your Custom Demo' CTAs, and account-based engagement with customer success stories (First Insurance, Merit Insurance, Beacon Insurance). The company is privately held, U.S.-domiciled, and does not disclose headcount, revenue, funding history, or ownership structure. Pricing is not publicly listed; the B2B revenue model is transaction-fee-based, charging carriers, MGAs, and agents for payment processing, reconciliation, and billing services, while policyholders receive premium payment options at zero cost. Marketing is content-led, using educational blog posts (e.g., a guide to pay-as-you-go workers' comp billing), customer stories, a podcast, the 2024 Webcast for Agents series, and the annual Momentum 2024 user conference to drive top-of-funnel demand and ecosystem engagement.

Name

Split Limit Studios

Legal name

InsurePay

Website

https://splitlimit.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

InsurePay is a U.S.-based cloud payment platform connecting insurance carriers, MGAs, agents, and policyholders for premium collections, disbursements, pay-as-you-go workers' comp billing, claims, commissions, and automated reconciliation across the insurance payment chain.

Ownership category

akta.pro rank

Product category

Insurance Payment Platform

NAICS

Insurance Carriers (5241), Agencies, Brokerages, and Other Insurance Related Activities (5242), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Billing, Payments & Premium Finance Platforms (FSAGAGAI)

akta.pro secondary industries

Workers’ Compensation for Small Business & Pay-As-You-Go Programs (FSAJAEAG), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF), Biller Direct EBPP Platforms (FSAMAJAA)

Keywords

• Insurance payment platform
• Premium collection software
• Workers compensation billing
• Payment reconciliation
• Claims disbursement

Headquarters

HQ city

Waltham

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Payment Processing Fees: InsurePay generates revenue by facilitating payments between insurance parties (carriers, MGAs, agents, policyholders). The platform offers flexible payment options to policyholders at zero cost, suggesting the revenue model is likely B2B-focused, charging carriers, MGAs, or agents for payment processing, reconciliation, and billing services.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

InsurePay provides a cloud-based insurance payment platform ecosystem that connects carriers, MGAs, agents, and policyholders to calculate, collect, send, and reconcile payments across the insurance payment chain. Products include pay-as-you-go workers' comp premium billing, premium payments, claims disbursement, commission automation, reconciliation, payables, premium refunds, and vendor payments. The platform serves insurance carriers, MGAs, and agents through a B2B enterprise model.

Product overview

InsurePay is a unified payment platform ecosystem connecting Carriers, MGAs, Agents, and policyholders in the insurance industry. The platform comprises interconnected products including Pay-as-you-go Workers' Comp Premium Billing (calculating/collecting premiums based on real-time payroll), Premium Payments (flexible payment options for policyholders), Claims (disbursement of claim funds), Commissions (automated payments to agency partners), Reconciliation (automated payment collection and reconciliation), Payables (streamlined payments to carriers and vendors), Premium Refunds (refund management), and Vendor Payments (automated vendor disbursements). These products collectively enable insurance organizations to calculate, collect, send, and reconcile payments across the entire insurance payment chain.

Differentiator

Problem solved

Functional benefit

Products and services

• Pay-as-you-go Workers' Comp Premium Billing Calculates and collects workers' compensation premiums based on real-time payroll data, enabling pay-as-you-go billing for insurance carriers, agents, and MGAs.
• Premium Payments Enables insurance organizations to offer flexible premium payment options to policyholders at zero cost, handling inbound premium collections.
• Claims Streamlines claims payments to policyholders, facilitating efficient disbursement of claim funds.
• Commissions Automates commission payments to agency partners and brokers.
• Reconciliation Collects and automatically reconciles payments from agencies and other parties.
• Payables Streamlines payments to carriers, vendors, and agency partners from a unified platform (agency-to-carrier payables).
• Premium Refunds Streamlines premium refunds to policyholders through a branded portal.
• Vendor Payments Automates payments to vendor partners.

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• One Inc: One Inc provides a payment platform purpose-built for the insurance industry, covering premium payments, claims, agent commissions, and reconciliation across carriers, MGAs, and agents — the most direct head-to-head competitor to InsurePay.
• InvoiceCloud: InvoiceCloud is an EBPP platform with a dedicated insurance vertical offering digital premium billing, payments, and communications for P&C carriers and agents, overlapping directly with InsurePay's premium payments and reconciliation workflows.
• PaySimple: PaySimple offers recurring and one-time payment processing with vertical workflows for insurance agents and small agencies, overlapping with InsurePay's agent-facing premium payments and policyholder collections features.
• BillingTree: BillingTree delivers payment processing solutions tailored to the insurance vertical, including premium payments, agency payables, and reconciliation — a direct competitor targeting the same carrier/agent workflows as InsurePay.

Broad incumbents

• Stripe: Stripe is a general-purpose payment processor whose APIs and embedded finance products are used by insurance carriers and insurtechs for premium collections, posing a down-market competitive threat to InsurePay's transaction-based revenue model.
• Vertafore: Vertafore provides agency and carrier management platforms (AMS360, Sagitta, Rating360) with payment and billing integrations, positioning it as a broader incumbent whose embedded capabilities overlap with InsurePay's reconciliation and premium payment modules.
• Bill.com: Bill.com is a leading B2B accounts payable and receivable platform used by SMBs including insurance agencies; its scale and brand recognition make it a potential broad incumbent encroaching on InsurePay's payables and vendor payment workflows.
• Guidewire: Guidewire is a leading P&C insurance platform (PolicyCenter, BillingCenter, ClaimCenter) whose native billing and payment workflows compete with InsurePay at the carrier level, particularly for large carriers seeking single-vendor core system replacements.
• Applied Systems: Applied Systems is a leading provider of agency management systems (Applied Epic) used by insurance agencies and MGAs, increasingly embedding premium payments and reconciliation features that compete with InsurePay's agent-facing workflows.
• Duck Creek Technologies: Duck Creek provides core insurance SaaS (Policy, Billing, Claims) to P&C carriers, including premium billing and disbursement capabilities that overlap with the inbound/outbound payment workflows InsurePay addresses for carriers and MGAs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/SplitLimitLLC
• LinkedInlinkedin.com/company/split-limit-studios

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Split Limit Studios