phidea
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Ownership landscape

A structural view of who owns the insurance-tech stack Phidea tracks. Two patterns hold. Modern-rung incumbents moved into private-equity hands over 2020-2025. AI-native vendors, long considered holdouts from consolidation, are now being bought at speed — 2024 and 2025 already contain the largest cluster of insurtech acquisitions on record.

At a glance

Tools tracked
133
Public
12
PE-owned
21
Subsidiaries
23

Computed from the tool DB at build time. Ownership field fills in progressively as fiches are revised; “ownership data pending” captures the remainder.

Recent moves (2024 onward)

Acquisitions captured in Phidea’s registry with a close year of 2024 or later. Ordered by year then deal value. Undisclosed terms are common; “value n/d” indicates the transaction was announced without a headline number.

Public companies (12)

Listed on a public exchange. Quarterly disclosure, audited financials, analyst coverage built in.

Private-equity owned (21)

Acquired and taken private by a PE firm. Investment horizon typically five to seven years.

  • ABBYY
    modern · document-processing
    Marlin Equity Partners · acquired 2021
  • Athenium Analytics
    modern · data-platform
    Hale Capital Partners · acquired 2024
  • BriteCore
    modern · policy-admin
    Warburg Pincus (lead, since 2019 Series B); Radian Capital (co-investor) · acquired 2019
  • Concirrus
    ai-native · data-platform
  • CyberCube
    ai-native · data-platform
    Spectrum Equity (cornerstone investor, 2025); Forgepoint Capital, Hudson Structured Capital Management, MTech Capital (existing)
  • Duck Creek Claims
    modern · claims-admin
    Vista Equity Partners · acquired 2023 · ~$2,600M
  • EagleView
    modern · risk-imagery
    Vista Equity Partners + Clearlake Capital · acquired 2018
  • EIS Group
    modern · policy-admin
    TPG (growth investor) · acquired 2021
  • Enlyte
    modern · claims-admin
    Stone Point Capital (via Trident Funds) · acquired 2018
  • Insurity
    modern · policy-admin
    GI Partners · acquired 2019
  • Jetty
    ai-native · underwriting-workstation
    Rhino (combined Rhino+Jetty entity) · acquired 2025
  • Majesco
    modern · policy-admin
    Thoma Bravo · acquired 2020 · ~$729M
  • ManyPets
    ai-native · underwriting-workstation
    EQT Growth (lead), with Willoughby Capital, FTV Capital, Octopus Ventures, CommerzVentures, Munich Re Ventures
  • Nearmap
    modern · risk-imagery
    Thoma Bravo · acquired 2022 · ~$729M
  • One Inc
    modern · policy-admin
    Great Hill Partners (with Nordic Capital co-investor since 2024) · acquired 2020
  • OneShield Software
    modern · policy-admin
    Parker-led search fund; Bain Capital Credit and Pacific Lake Partners anchor investors · acquired 2020
  • Origami Risk
    modern · claims-admin
  • Riskonnect
    modern · compliance-regulatory
    TA Associates (majority) / Thoma Bravo (significant minority) · acquired 2021
  • Sapiens
    modern · policy-admin
    Advent International · acquired 2025 · ~$2,500M
  • Solera
    modern · damage-estimation
    Vista Equity Partners · acquired 2016 · ~$6,500M
  • Zywave
    modern · crm-distribution
    Clearlake Capital Group · acquired 2020

Subsidiaries of larger groups (23)

Owned by and operating inside a parent company whose primary business is broader than the subsidiary's.

  • Arius Enterprise (Milliman)
    modern · actuarial
    Akur8 · acquired 2024
  • Attune
    ai-native · underwriting-workstation
    Pinnacol Assurance (via Cake Insure, Inc.) · acquired 2023
  • Benefitfocus
    modern · policy-admin
    Voya Financial · acquired 2023 · ~$570M
    VOYA
  • Betterview
    ai-native · risk-imagery
    Nearmap (Thoma Bravo portfolio) · acquired 2023
  • Cape Analytics
    ai-native · risk-imagery
    Moody's Corporation · acquired 2025
  • Corvus Insurance
    ai-native · underwriting-workstation
    The Travelers Companies, Inc. · acquired 2024 · ~$435M
    NYSE: TRV
  • Cytora
    ai-native · underwriting-workstation
    Applied Systems · acquired 2025
  • EvolutionIQ
    ai-native · document-processing
    CCC Intelligent Solutions Holdings Inc. · acquired 2025 · ~$730M
    CCCS
  • FloodFlash
    ai-native · underwriting-workstation
    NormanMax Insurance Holdings, Inc. · acquired 2025
  • Flyreel
    ai-native · risk-imagery
    RELX (LexisNexis Risk Solutions) · acquired 2022
  • Instec
    modern · policy-admin
    Insurity · acquired 2021
  • Jumpstart Insurance
    ai-native · underwriting-workstation
    Neptune Insurance Holdings Inc. (NYSE: NP) · acquired 2021
    NP
  • Moody's AXIS
    modern · actuarial
    Moody's Corporation · acquired 2016
    NYSE: MCO
  • Moody's RMS
    modern · actuarial
    Moody's Corporation · acquired 2021 · ~$2,000M
    NYSE: MCO
  • Newfront
    ai-native · crm-distribution
    Willis Towers Watson (WTW) · acquired 2026 · ~$1,300M
    WTW
  • NEXT Insurance
    ai-native · underwriting-workstation
    Munich Re (via ERGO Group AG) · acquired 2025 · ~$2,600M
  • NICE Actimize
    modern · fraud-detection
    NICE Ltd · acquired 2007 · ~$280M
    NASDAQ: NICE / TASE: NICE
  • Planck
    ai-native · data-platform
    Applied Systems · acquired 2024 · ~$300M
  • Salesforce Financial Services Cloud for Insurance
    modern · crm-distribution
    Salesforce, Inc. · acquired 2020 · ~$1,330M
    NYSE:CRM
  • TriZetto Facets
    modern · claims-admin
    Cognizant Technology Solutions · acquired 2014 · ~$2,700M
    NASDAQ:CTSH
  • Verisk ClaimSearch
    modern · fraud-detection
    Verisk Analytics · acquired 2009
    NASDAQ: VRSK
  • Verisk Xactware (Xactimate)
    modern · damage-estimation
    Verisk Analytics · acquired 2006
    NASDAQ: VRSK
  • WNS Insurance Services
    modern · policy-admin
    Capgemini · acquired 2025 · ~$3,300M

Independent (41)

Not yet acquired. Venture- or founder-owned; roadmap shaped by the operating team.

Ownership data pending (36)

Fiche exists; structured ownership field not yet populated. Will fill as each fiche is revised.

Holdings by parent

Parent companies ordered by number of Phidea-tracked tools they own. Captures the consolidation pattern visible only when the library is read in aggregate.

How this page is built

Each tool fiche carries an optional ownership field — type (public, private-equity, subsidiary, independent), parent, acquired year, acquisition value in USD millions, ticker, and the citing source. This page reads that field across the library and groups the output. No other editorial layer.

Tools without the ownership field are grouped under “Ownership data pending”. Each fiche revision closes one more gap.