Vertical Insure has secured an investment from Updata Partners to expand its embedded insurance infrastructure for vertical SaaS platforms as insurance becomes increasingly integrated into checkout, billing, and registration workflows.
Vertical Insure provides software infrastructure that allows SaaS platforms to embed insurance products directly into their user experiences.
The company works with more than 100 software platforms across industries including sports, travel, events, construction, and education. Its partners include Blackbaud, LeagueApps, and Togetherwork.
Vertical Insure said its model has already been proven across millions of transactions, giving the company a foundation to expand further as software platforms look for additional ways to monetize transactions and improve customer experiences.
The company believes embedded insurance is moving toward becoming a standard feature within vertical software.
Rather than requiring consumers or businesses to leave a software platform to purchase coverage separately, Vertical Insure enables insurance offers to appear directly within the workflow where the underlying transaction is already taking place.
That could include a sports registration platform offering coverage during enrollment, an event platform embedding protection into checkout, or a travel software provider offering insurance during booking.
Vertical Insure positions its platform as dedicated infrastructure for vertical SaaS companies that want to offer tailored insurance products at scale.
The company believes this can create value for several parties simultaneously.
Software platforms can generate additional revenue and strengthen differentiation, users can receive coverage more conveniently, and insurers can access customers at the moment when the underlying risk is most relevant.
Updata Partners’ investment is intended to support Vertical Insure as it expands that model across a larger number of software partners.
Vertical Insure sees the opportunity extending beyond simply adding another product to checkout.
The company believes software platforms can increasingly turn moments of risk within their workflows into recurring opportunities for engagement, monetization, and customer retention.
That strategy could become particularly important for vertical SaaS companies seeking growth opportunities beyond subscription revenue.
By integrating insurance into existing workflows, software providers can potentially add new revenue streams without requiring customers to adopt entirely separate products or systems.
Vertical Insure’s infrastructure is designed to handle the insurance layer behind those experiences while allowing the software platform to maintain control of its customer relationship and user interface.
The investment from Updata Partners also gives Vertical Insure additional backing from an investor focused on software and technology-enabled businesses.
Updata sees the company’s software-driven approach and partner economics as potential advantages as the embedded insurance market develops.
Vertical Insure plans to use the investment to serve more platforms at greater scale and continue building its position as infrastructure for insurance embedded directly within vertical software.
KEY QUOTES:
“We’ve always believed that embedded insurance would become an essential part of the user experience for vertical software. Today, we’re seeing that vision become reality as more platforms look beyond subscriptions to turn moments of risk into opportunities for growth and long-term differentiation. We’re looking forward to serving platforms at a larger scale.”
Brock Noland, CEO and Co-Founder of Vertical Insure
“Vertical Insure has a unique, software-driven embedded insurance offering. They’re turning risk into opportunities that benefit partner platforms, platform users, and the end consumer. We feel strongly that Vertical Insure’s compelling ROI and world-class partnership will enable continued, capital efficient growth.”
Jon Seeber, General Partner at Updata Partners
