Surefyre

Surefyre provides a cloud-based software-as-a-service platform tailored for the property and casualty insurance sector, operating as a crucial link between insurers, Managing General Agents (MGAs), wholesalers, and agents. The company was founded in 2017 by Alex Bautista and Dustin Lorres and is headquartered in San Francisco, California. Initially, the founders targeted retail agents before realizing their platform's capabilities were a better fit for the operational complexities of MGAs and wholesalers, a market that was experiencing significant growth.

The company's business model is centered on providing a subscription-based platform that automates and streamlines insurance distribution workflows. The platform is designed to serve MGAs and wholesalers, helping them to modernize their quoting, submission, and underwriting processes. Key features of Surefyre's offering include a configurable agent portal and a sophisticated underwriter workbench. This dual-component system facilitates a seamless experience for the entire policy lifecycle, from application and rating to quoting and policy issuance. The platform leverages AI-powered solutions and a low-code/no-code environment to enhance operational efficiency, reduce manual data entry, and accelerate speed to market for new insurance products. It allows for the automation of routine tasks, data consolidation from various sources, and real-time analytics on key performance metrics.

A significant milestone in the company's history occurred on November 4, 2024, when it was acquired by Vertafore, a major North American InsurTech provider. The deal, for which financial terms were not disclosed, integrated Surefyre's AI-enabled solutions into Vertafore's extensive suite of products for MGAs. This acquisition was a strategic move by Vertafore to enhance its offerings, combining Surefyre's agent portal and underwriting workbench with its existing systems like AIM and MGA Systems to create a more comprehensive technology suite for the MGA market. Prior to the acquisition, Surefyre was already a Vertafore Orange Partner, which facilitated a smoother technical integration.

Keywords: InsurTech, MGA software, underwriting workbench, agent portal, P&C insurance, policy management, workflow automation, insurance distribution, Vertafore, low-code insurance platform, submission management, quoting engine, policy lifecycle management, insurance automation, wholesale insurance, specialty insurance, risk selection, data consolidation, agent onboarding, digital insurance platform