Acturis

Acturis operates as a Software-as-a-Service (SaaS) provider for the general insurance industry, targeting brokers, insurers, and Managing General Agents (MGAs). The company was founded in 2000 by Theo Duchen and David McDonald, who serve as co-CEOs. Both founders are former partners at McKinsey & Company; Duchen led the firm's general insurance practice, bringing deep industry knowledge, while McDonald co-led the e-commerce practice, contributing expertise in digital commerce. They identified significant inefficiencies in the insurance market and established Acturis to address them through technology.

The company's core offering is a cloud-based, multi-tenant platform that provides an integrated suite for administration, distribution, and underwriting. This system facilitates the electronic trading of insurance policies, manages customer relationships, handles claims, and automates the generation of documents, aiming to eliminate the need for re-keying data. The business model is based on a monthly per-user subscription fee, avoiding large upfront license costs for clients. This structure provides a recurring revenue stream and has contributed to consistent financial growth. For the fiscal year ending September 30, 2023, Acturis reported revenues of £144.1 million, an increase from £121.3 million in the previous year.

Acturis serves a broad range of clients, from startups to large enterprises, primarily in the UK and Europe, with expanding operations in North America. The platform supports personal, commercial, and healthcare insurance lines. Key features include a broker trading system, a wholesale and underwriting module, and data reporting tools. The platform is designed for seamless integration with a client's existing infrastructure, with Acturis managing data on its own servers and automatically rolling out software updates. Since its first brokers went live in July 2002, the company has grown significantly, now supporting over 100,000 users in more than 40 countries and facilitating billions in premium transactions annually.

Keywords: InsurTech, SaaS, insurance software, broker management system, policy administration, underwriting platform, claims management, e-trading, insurance distribution, general insurance, commercial lines, personal lines, MGA software, financial software, insurance technology, digital insurance, broker platform, risk management, insurance automation, reinsurance software