OIP Insurtech
- Company typePrivate
- Founded2012
- HeadquartersHenderson, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingSoftware
OIP Insurtech firmographics
Firmographics- Name
- OIP Insurtech
- Legal name
- Outsource Insurance Professionals
- Website
- https://oipinsurtech.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Ownership category
- akta.pro rank
OIP Insurtech industry classification
Industry- Product category
- Insurance Technology (InsurTech)
- NAICS
- Other Insurance Related Activities (52429)
- SIC
- Services-Management Consulting Services (8742)
- akta.pro primary industry
- Document, Workflow & Policy Servicing Automation (RPA/No-Code) (FSAGAGAK)
- akta.pro secondary industries
- Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB), OCR, ICR & Intelligent Document Processing (IDP) (BPAAAKAB), Data, Analytics & AI for Insurance (Risk, Pricing, Personalization) (FSAGAGAE)
Keywords
Where OIP Insurtech is headquartered
LocationHeadquarters
- HQ city
- Henderson
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
OIP Insurtech business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Underwriting Support & BPO Services: Comprehensive managed execution services covering the full insurance policy lifecycle: submission intake, quote-to-bind operations, expert underwriting operations, endorsement processing, inspection reviews, renewal underwriting, policy issuance, and back-office functions. Provided as ongoing managed services to carriers, MGAs, and program administrators.
- Workflow Intelligence Diagnostic: Fixed-fee 8-week operational diagnostic engagement delivering quantified friction analysis, benchmark gap analysis, AI readiness mapping, and a 12-month transformation roadmap. Serves as an entry-point product that can lead to broader technology and managed services engagements.
- InsurTech Technology Services & BoundAI Platform: Technology services including AI and data innovation, cloud and infrastructure engineering, product engineering and experience modernization, and the BoundAI SaaS/document intelligence platform. Revenue derived from technology implementation projects, platform licensing, and per-transaction or subscription-based AI document processing.
- Strategic Consulting & System Integration: Strategic consulting covering SOP design, workflow redesign, queue management, SLA structuring, training, and adoption. Also encompasses system integration services aligning automation with existing insurance technology stacks.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Workflow Intelligence Diagnostic — 8-week fixed-fee operational assessment |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels11 records
OIP Insurtech product offering
Product offeringCore offering
OIP Insurtech provides technology-enabled insurance operations services and proprietary AI software to specialty and E&S insurance carriers, MGAs, wholesale brokers, and program administrators. The company offers managed underwriting BPO services (submission intake, quote-to-bind, endorsements, policy issuance, renewals) alongside its proprietary BoundAI document intelligence platform and an 8-week Workflow Intelligence Diagnostic consulting engagement. Headquartered in Henderson, NV with delivery centers across Serbia, India, North Macedonia, and the UK, the firm serves 120+ insurance clients.
Product overview
OIP Insurtech is an insurance operations partner offering a comprehensive portfolio of underwriting services, InsurTech solutions, and consulting. The core offering includes BoundAI, a proprietary AI-powered document intelligence platform that handles the full insurance document lifecycle including submissions, loss runs, endorsements, and claims. Supporting services include underwriting support (submissions, quotes, binder issuance, endorsements, inspection reviews, renewals), technology services (AI and data innovation, cloud engineering, product modernization), and the Workflow Intelligence Diagnostic consulting engagement. The company focuses on the E&S and specialty insurance market, providing technology-enabled outsourcing to help carriers, MGAs, wholesale brokers, and program administrators modernize operations.
Differentiator
Problem solved
Functional benefit
Brands
- BoundAI: AI-powered document intelligence platform for insurance that handles document extraction, classification, and data processing for submissions, loss runs, endorsements, and claims.
Products and services
- Underwriting Services Comprehensive managed underwriting support covering the full insurance policy lifecycle including core insurance administration, quote-to-bind operations, expert underwriting operations, endorsement processing, inspection reviews, renewal underwriting, and policy issuance. Delivered as ongoing managed services to carriers, MGAs, wholesale brokers, and program administrators.
- BoundAI Proprietary AI-powered document intelligence platform that reads, classifies, and extracts data from insurance documents including submissions, loss runs, endorsements, policy forms, and claims. Delivers structured output via API and RPA integrations, processing documents in seconds with 99% accuracy. Designed for MGAs, carriers, brokers, and syndicates.
- InsurTech Technology Services Technology services offering for insurance organizations covering AI and data innovation, cloud and infrastructure engineering, specialized practice services, and product engineering and experience modernization. Supports carriers and MGAs modernizing legacy technology stacks and implementing AI document processing.
- Workflow Intelligence Diagnostic Fixed-fee 8-week operational diagnostic engagement delivering quantified friction analysis, submission economics breakdown, AI readiness mapping, benchmark gap analysis, and a transformation roadmap. Maps real workflows through live shadowing and stakeholder interviews.
- Strategic Consulting and System Integration Consulting services covering strategic alignment, SOP design, workflow redesign, queue management, SLA structuring, training, adoption, and system integration aligning automation with existing insurance technology stacks.
Quantifiable outcome
- 20%+ efficiency unlocked in core workflows before any new technology investment
- +8 more outcomes
Companies that use OIP Insurtech
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
OIP Insurtech technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability8 records
Feature4 records
OIP Insurtech partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- BELhospiceminorOIP Insurtech has been a Sustainability Club member of BELhospice for three consecutive years. BELhospice provides compassionate palliative care to patients in need in Serbia. OIP team members attend the annual charity ball and contribute to fundraising efforts.
- TMPAA (Target Markets Program Administrators Association)coreOIP Insurtech actively participates in the annual TMPAA Summit, presenting their workflow modernization and AI capabilities to the program business ecosystem. At the 25th Annual Summit in Scottsdale, OIP leadership was featured in The Insurer's 'Close Quarter' video series discussing rewiring legacy underwriting workflows.
- CPCU Europe ChaptercoreMatija Obradovic, Global Risk Manager at OIP, serves as President of the CPCU Europe Chapter, which has 100 members across the continent. This leadership role provides a platform for industry influence, professional development, and visibility for OIP within the European insurance community.
Scale indicators15 records
Recent moves7 records
Expansion highlights7 records
OIP Insurtech competitors and assessment
Company assessmentDirect peers
- Hexaware: Hexaware provides digital and BPO services with a dedicated insurance practice covering underwriting, claims, and finance operations. Closely comparable in combining insurance-domain delivery with automation and cloud services.
- EXL Service: EXL is a publicly-traded operations and analytics BPO with a sizable insurance practice covering underwriting, claims, and document processing. It is the most directly comparable peer given its combined BPO delivery and analytics-led value proposition for P&C carriers and MGAs.
- WNS Holdings: WNS provides domain-led BPO and analytics with a strong insurance vertical spanning underwriting support, claims, and finance & accounting. Comparable to OIP's offshore-led delivery model and carrier/MGA customer base.
- NTT Data (Insurance): NTT Data offers insurance-specific BPO and technology services including underwriting, claims, and digital transformation for global insurers. Similar global delivery footprint and carrier/MGA customer overlap.
- Coforge: Coforge runs an insurance technology services business combining BPO underwriting support, core systems integration, and digital platforms for P&C and specialty insurers. Comparable mix of tech services and managed operations targeting insurance carriers.
Broad incumbents
- Cognizant (Insurance): Cognizant operates a global insurance practice combining consulting, technology services, and BPO for carriers. Competes with OIP for the same managed services and workflow automation engagements at the enterprise level.
- Duck Creek Technologies: Duck Creek is a leading insurance SaaS provider offering policy, billing, and claims platforms for P&C carriers. While primarily a core systems vendor rather than a BPO, it embeds document automation that competes with BoundAI at the workflow layer.
- Insurity: Insurity is an established insurance core systems and analytics provider to carriers and MGAs, with policy admin, billing, and data products. Referenced in OIP customer testimonials, it represents an adjacent incumbent whose own product roadmap could encroach on OIP's BoundAI automation wedge.
- Majesco: Majesco provides cloud-native insurance core, analytics, and digital platform software for P&C and L&A carriers. Comparable as an insurtech platform targeting the same digital transformation budgets OIP sells into.
Emerging players
- Hyperscience: Hyperscience is an intelligent document processing vendor competing directly with BoundAI at the IDP/OCR layer, including in regulated industries like insurance. Comparable as a technology peer that insurance carriers may evaluate alongside OIP's platform.
Market position
Strengths1 record
Weaknesses1 record
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
OIP Insurtech social profiles
Digital presenceOIP Insurtech compliance and trust
Trust signalCompliance1 record
OIP Insurtech financial estimates
Financial estimateRevenue estimate
Valuation estimate
OIP Insurtech leadership team
Management profileNumber of profiles
Profiles7 records
OIP Insurtech subsidiaries and ownership
Company hierarchySubsidiaries1 record
OIP Insurtech funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OIP Insurtech M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OIP Insurtech
What does OIP Insurtech do?
OIP Insurtech provides technology-enabled insurance operations services and proprietary AI software to specialty and E&S insurance carriers, MGAs, wholesale brokers, and program administrators. The company offers managed underwriting BPO services (submission intake, quote-to-bind, endorsements, policy issuance, renewals) alongside its proprietary BoundAI document intelligence platform and an 8-week Workflow Intelligence Diagnostic consulting engagement. Headquartered in Henderson, NV with delivery centers across Serbia, India, North Macedonia, and the UK, the firm serves 120+ insurance clients.
Is OIP Insurtech a public or private company?
OIP Insurtech is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was OIP Insurtech founded?
OIP Insurtech was founded in 2012. It employs 1,001 to 5,000 people.
Where is OIP Insurtech based?
OIP Insurtech is headquartered in Henderson, United States, in the North America region.
How does OIP Insurtech make money?
Four revenue lines are on record. Underwriting Support & BPO Services are the primary driver. The others are workflow Intelligence Diagnostic, insurTech Technology Services & BoundAI Platform and strategic Consulting & System Integration.
Who are OIP Insurtech's main competitors?
Direct peers on record are Hexaware, EXL Service, WNS Holdings, NTT Data (Insurance) and Coforge. Broad incumbents are Cognizant (Insurance), Duck Creek Technologies, Insurity and Majesco. Hyperscience is listed as an emerging player.
Does OIP Insurtech have an API?
Yes. BoundAI offers API integrations for modern systems and RPA-based connectivity for legacy platforms, enabling implementation without replacing existing infrastructure. The platform integrates via API with modern systems and via RPA with legacy platforms, allowing extraction data to be formatted for downstream system requirements.
What industry is OIP Insurtech in?
OIP Insurtech's product category is Insurance Technology (InsurTech). Its primary akta.pro industry code is FSAGAGAK, Document, Workflow & Policy Servicing Automation (RPA/No-Code), with a secondary code of FSAGAGAB, Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS). Its NAICS code is 52429 and its SIC code is 8742.