EPPAD

What EPPAD does

EPPAD (Idea Pardaz Pasargad Kian, established 2005-2006 in the Iranian calendar year 1384) is a B2B InsurTech company operating as a subsidiary of Isfahan Science and Technology Park, a government-affiliated research entity under Iran's Ministry of Science. The company develops a modular software platform for Iran's transport insurance industry, anchored on the TIS (Transportal) core platform and extended through specialized modules: TFI for centralized insurance rate inquiry, TRANSIT for customs duty coverage, CMR for international road-transport waybills, CI for unique code issuance integrated with the Central Insurance Sanahob system, the BIMRAH mobile application for damage reporting and inspection, and the Darmoon sub-brand for health insurance expense notifications. Its systems digitize paper-based waybill and insurance processes, calculate premiums in real time based on cargo, vehicle, and route parameters, generate QR-coded verification stamps, and exchange data with the Road Transportation Organization for regulatory compliance.

EPPAD serves 27 insurance companies in Iran (including Iran Insurance, Asia Insurance, Alborz Insurance, Dana Insurance, Mellat Insurance, Pasargad Insurance, and Parsian Insurance, among others), approximately 200 insurance branches, 2,000 agents, and 6,000 transport company offices, claiming approximately 85% market share in the domestic transport insurance software segment. The company also lists the Iranian President's Office, the High Council of Informatics, and the Road Transportation Organization among its government-affiliated relationships. Its value proposition centers on automating policy issuance, enabling real-time data exchange between insurers and transport operators, preventing insurance fraud through unique code verification, and applying AI for anomaly detection and parametric premium calculation.

Revenue is generated through contract-based software licensing, system implementation, and ongoing technical support agreements with insurance companies, structured as recurring subscription revenue. The GTM motion is sales-led direct enterprise contracts supplemented by self-service distribution through the Transportal portal (transportal.ir) and the BIMRAH mobile app. EPPAD operates from two offices — Tehran (commercial) and Isfahan (engineering within Isfahan Science and Technology Town) — with approximately 11 total employees. The company holds a Knowledge-Based Company license from the Vice Presidency for Science and Technology, a High Council of Informatics license, and has received consecutive first-place rankings in technology company evaluations (1387-1388) and the 1398 Transformative IT Company award.

Name

EPPAD

Legal name

EPPAD (Idea Pardaz Pasargad Kian) - شرکت ایده پرداز پاسارگاد کیان

Website

https://eppad.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

EPPAD is an Iranian InsurTech company that builds modular software platforms (TIS, CMR, CI, TRANSIT, BIMRAH, Darmoon) for transport and health insurers, serving 27 insurance companies and 6,000 transport offices with claimed 85% domestic market share.

Ownership category

akta.pro rank

Product category

InsurTech Software for Transport Insurance

NAICS

Software Publishers (5132), Agencies, Brokerages, and Other Insurance Related Activities (5242), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Embedded Insurance Distribution & Premium Financing (FSAGALAF)

Keywords

• Transport insurance software
• Insurtech platforms
• Cargo insurance systems
• Waybill management
• Insurance technology

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Software Licensing & Subscription Services: EPPAD provides software platforms (TIS, TRANSIT, CI, BIMRAH) to insurance companies under contractual agreements. Revenue is generated through software licensing fees, system implementation, and ongoing technical support contracts with insurance companies. The company charges approved fees per contract for software support services provided to insurance companies.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

EPPAD develops and licenses modular software platforms for Iran's transport insurance industry, including TIS (Transportal) for domestic carrier liability insurance, CMR for international waybills, TRANSIT for customs duty coverage, CI for unique code issuance, and BIMRAH mobile application for damage reporting. The platforms automate insurance certificate issuance, premium calculation, and verification by integrating with the Central Insurance Sanahob system and the Road Transportation Organization. Revenue is generated through software licensing and ongoing support contracts with insurance companies, transport firms, and agents across Iran.

Product overview

EPPAD (ایده پرداز پاسارگاد کیان) is a specialized InsurTech company that operates as a modular platform ecosystem for Iran's transport insurance industry. The core platform is TIS (Transportal), a comprehensive transport industry portal that collects and processes domestic waybill data and connects to the Central Insurance Sanhahab system. This core is augmented by specialized modules including TFI for insurance rate inquiry, TRANSIT for customs duty insurance, CMR for international waybills, urban transport certificates, CI for unique codes, and BIMRAH mobile application. The company also operates درمون as a separate sub-brand for health insurance expense services. Together, these products serve 27 insurance companies, 200 branches, 2000 agents, and 6000 transport company offices, covering 85% of the transport insurance market.

Differentiator

Problem solved

Functional benefit

Brands

• TIS (Transportal): Transport Information System - comprehensive transport industry portal for insurance and transport companies, providing waybill data collection and insurance certificate issuance.
• BIMRAH
• TFI
• TRANSIT
• CI (Code Yekta)

Products and services

• TIS (Transportal) - Transport Insurance System Comprehensive transport industry portal that collects and filters domestic transport waybill information, connects to the Central Insurance Sanahob system for unique code issuance, and facilitates online insurance premium calculation and verification between insurers and policyholders.
• TFI - Insurance Rate Inquiry Service Centralized value-added service for real-time inquiry of transport insurance policy rates, enabling transport companies to obtain insurance pricing information during waybill issuance.
• TRANSIT - Customs Duty Insurance System Insurance system for customs import duty coverage including internal and external transit, providing electronic guarantees for international transport companies operating in Iran.
• CMR - International Waybill Management System Online system for issuance and management of international waybills (CMR Convention) for international road transport insurance, with QR code printing and online verification capabilities.
• CI - Unique Code Service for Cargo Insurance Policies Unique code service for cargo insurance policies nationwide, providing traceable identification codes integrated with the Sanahob system of the Central Bank of Iran to prevent fake waybills and ensure transparency in the insurance process.
• BIMRAH Mobile Application Mobile application providing cargo insurance inquiry, centralized damage reporting, and high-value cargo inspection services, with push notifications for important events.
• Urban Transport Certificate Management System Online system for issuance and management of urban transport certificates and insurance, replacing manual paper-based processes with fully electronic certificate and waybill management.
• Customs Bond Guarantee System System for issuing cargo guarantee bonds for customs, creating transparency between transport companies, insurance companies, and customs authorities regarding the issuance and consumption of transit bonds.
• Darmoon - Treatment Expense Notification Service Treatment expense notification service for supplementary health insurance policyholders under the Darmoon sub-brand, enabling quick payment with full transparency through a mobile application or web platform.

Quantifiable outcome

• 85% of the transport insurance market in Iran is covered by EPPAD services
• +2 more outcomes

Named customers15 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• Central Insurance of Iran (بیمه مرکزی ج.ا.ا)coreTechnology or IntegrationEPPAD's CI (Unique Code) service is integrated with the Sanahob system of Central Insurance of Iran, enabling real-time issuance of unique codes for transport insurance policies. This integration enables regulatory compliance and anti-fraud verification across all insurance companies in Iran.
• Road Transportation Organization (سازمان راهداری و حمل و نقل جاده‌ای)coreTechnology or IntegrationEPPAD's systems integrate with the Road Transportation Organization to verify tracking codes, validate waybills, and exchange transport data. Insurance companies receive tracking codes from this organization through EPPAD's platform.
• Isfahan Science and Technology Town (شهرک علمی و تحقیقاتی اصفهان)coreStrategic or Co-development PartnerEPPAD is a subsidiary of Isfahan Science and Technology Town, a research center affiliated with the Ministry of Science, Research and Technology. This affiliation provides access to research resources, technology licensing, and government-supported growth programs.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• FINEOS: FINEOS is a vertical insurance software platform focused on life, accident, and health insurance policy administration, claims, and analytics — a direct functional analogue to EPPAD's TIS/PAS-style offerings in a different insurance vertical.
• Majesco: Majesco is a cloud-native insurance core software provider for P&C, life, and specialty lines, with a comparable modular SaaS architecture and emphasis on digital distribution — similar in spirit to EPPAD's TIS ecosystem.
• Sapiens International: Sapiens offers core insurance software suites (policy administration, claims, reinsurance) for P&C and specialty insurers globally, comparable to EPPAD's integrated platforms for transport and cargo insurance.
• Duck Creek Technologies: Duck Creek provides SaaS core systems (policy, billing, claims) for property/casualty and specialty insurers worldwide, closely mirroring EPPAD's embedded-insurance-tech-and-policy-administration approach for transport and cargo lines.

Emerging players

• Earnix: Earnix provides AI-based rating, pricing, and personalization for insurance and banking, overlapping with EPPAD's parametric premium calculation and AI-driven analytics layer for transport insurance.

Broad incumbents

• TIBCO (Insurity): Insurity is a broad incumbent P&C insurance software vendor offering policy administration, claims, and analytics at scale — comparable in product scope but a much larger, US-focused generalist relative to EPPAD's niche specialization.
• Infosys McCamish (Insurance Platform): Infosys's insurance practice (including McCamish) provides large-scale life and annuity policy administration platforms, broadly comparable as a vertically deep insurance technology incumbent serving regulated markets.

Regional players

• Prima Solutions: Prima Solutions delivers insurance software (policy, claims, distribution) primarily to European insurers, serving as a regional comparable for EPPAD's niche specialization in a defined insurance vertical.
• RGI Group: RGI provides core insurance and reinsurance software platforms primarily in Europe and emerging markets — a regional analogue with similar focus on specialty/P&C insurance technology.
• TAP (Transportation Association of Pakistan-style national transport platforms): National transport/insurance digital platforms in other emerging markets (e.g., regional CMR/transport-insurance technology vendors in the Middle East, South Asia) operate in adjacent regulatory environments and offer a comparable vertically integrated transport-insurance technology model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/eppad
• Instagraminstagram.com/eppad

Compliance7 records

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 EPPAD