NASHVILLE, Tenn., January 11, 2022 /PRNewswire/ — InsurePay, a leading Insuretech P&C billing and payment platform, including billing and payment of workers’ compensation insurance premiums, today announced it has secured a Series B investment led by Aquiline Technology Growth with significant participation from FINTOP Capital and other strategic investor partners. InsurePay used part of the proceeds to acquire Split Limit Studios and its TRUPAY solution. As part of the acquisition, George Kostakos, Managing Director of Split Limit Studios, has joined InsurePay as Chief Revenue Officer. The combined company will operate under the InsurePay brand and InsurePay will continue to support both solutions for the short term as it transitions to a premier shared offering. Financial details of the transaction were not disclosed.

“The investment brings together Insuretech’s billing and payments leaders for workers’ compensation and establishes InsurePay as the industry leader in pay-as-you-go solutions,” said Adam Beck, CEO of InsurePay. “The two solutions complement each other and the acquisition brings together experienced talent from both teams that will help InsurePay serve customers and leverage its platform to deliver the next generation of solutions.

“This is an important milestone for both of our companies,” Kostakos said. “The Split Limit team is excited to combine our respective strengths and help InsurePay accelerate plans to deliver a comprehensive experience to meet all customer needs.”

InsurePay provides world-class solutions, including its Pay-As-You-Go (PayGo) workers’ compensation platform that calculates workers’ compensation premiums based on actual payroll data rather than estimated annual pay amounts, resulting in more accurate bonus payments each pay cycle. . It has streamlined the delivery of policyholder, payroll and premium data, making the company one of PayGo’s leading workers’ compensation billing providers. Using a software as a service (SaaS) model for many of the industry’s leading insurance companies, InsurePay provides a simple, accurate and flexible approach to providing this beneficial billing and payment option to insurance companies, to agents, supplier and insured payroll.

“InsurePay’s strategy of providing an end-to-end billing and payment platform for property and casualty insurers, along with its experience serving leading insurer customers, positions the company well to capture a growing segment. market,” said Jeff Greenberg, Chairman and CEO of Aquiline Capital Partners. “We look forward to partnering with Adam and his team to provide our expertise and the capital required to accelerate the company’s entry into the carrier market.”

Aquiline Growth Technology is committed to partnering with management to implement the company’s strategic vision. In addition, Michael CichowskiHead of Growth Equity at Aquiline Technology Growth, will join InsurePay’s Board of Directors.

About AssurePay

make sure® is an Insuretech billing and payment provider whose solution enables insurers to seamlessly offer a Pay-As-You-Go (PayGo) billing and payment solution for the P&C market, including insurance carriers workers’ compensation and policyholders, where insurers can monitor the accuracy of each policyholder. premiums for every payroll run, all through InsurePay’s secure, personalized portal with direct data connections to major payroll companies. Today, InsurePay processes more PayGo online billings than any other independent service company in the world. To learn more, visit www.insurepay.com or follow the company on LinkedIn.

About the Growth of Aquiline Technology

Aquiline Technology Growth (ATG) seeks to invest in early-stage and growth-stage technology companies that bring innovation to the insurance and financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private investment firm based in New York and London invest in companies around the world in the financial services and technology sector. The ATG team has a background in technology and financial services and is supported by colleagues at Aquiline, strategic partners and an active group of industry executive advisors. For more information about ATG, visit http://www.aquiline.com/atg.

About FINTO Capital

FINTOP Capital is a venture capital firm focused on financial technology (FinTech) companies with offices in Nashville, Tennessee, St. Louis, Missouri and New Jersey. Led by financial leaders and operators who have built successful startups themselves, the company understands the ups and downs of the startup world. The company brings strong networks, experience and capital to entrepreneurs building SaaS and B2B services software companies in the FinTech space. To learn more, visit www.fintopcapital.com or follow @fintopcap on Instagram and LinkedIn.

SOURCEAssurePay