As insurance carriers and MGAs modernize legacy systems, they face a crowded market of insurtech software companies promising digital transformation. Choosing the right policy administration system (PAS) is a strategic decision that affects underwriting, billing, claims, compliance and customer experience.
For small and regional insurers in particular, understanding how insurtech platforms differ—and which are truly built for their scale—is critical.
What Is Insurtech?
Insurtech refers to technology platforms designed to modernize insurance operations through automation, integrations and unified digital workflows. Most insurtech solutions center on policy administration software (PAS) that supports quoting, underwriting, policy issuance, endorsements, billing, claims and reporting.
Modern PAS platforms streamline operations by reducing manual work, improving data accuracy and enabling self-service for agents and policyholders.
Examples of Notable Insurtech Companies
Modotech (ISi is enterprise PAS for P&C insurers)
Guidewire (enterprise PAS)
Duck Creek (enterprise PAS)
Socotra (API-first core systems)
Applied Systems (agency-focused platforms)
Snapsheet (claims automation)
Why Insurtech Matters to Small and Regional Insurers
Smaller carriers and MGAs face pressure to compete on speed, accuracy, and customer experience without the resources of large national insurers. Insurtech platforms help level the playing field by:
Automating underwriting, billing and policy servicing
Reducing operational bottlenecks and manual rework
Supporting faster product launches and updates
Providing digital portals for agents and policyholders
Cloud-based, configurable PAS solutions also reduce upfront infrastructure costs and ongoing IT overhead compared to internally built systems.
Common Concerns About Insurtech Companies
Insurers often hesitate to adopt insurtech due to concerns about implementation risk, cost and long-term reliability. Early insurtech platforms sometimes struggled with insurance complexity or smooth legacy migration, while others lacked deep insurance domain expertise.
Cost is another concern, as many PAS vendors are priced for enterprise insurers and require extensive customization. Security, data privacy and fears about automation replacing staff also factor into decision-making.
These concerns highlight the importance of choosing an insurtech platform designed specifically for insurance operations—not just technology.
Key PAS Challenges
Build vs. Buy
ISi offers a proven, configurable PAS that eliminates the need to build and maintain a system internally. Table-driven settings allow insurers to tailor workflows, rating logic and documents without modifying core code.
Budget Constraints
Designed for MGAs and regional carriers, ISi controls costs through shared core functionality, configurable rules and modular capabilities—reducing both implementation and long-term ownership expenses.
Reliability as a Core System
ISi serves as a centralized system of record for policy, billing, accounting and underwriting, with transaction tracking and auditability to support consistent daily operations.
Integrations
Standardized interfaces, APIs and scheduled jobs allow ISi to integrate with rating, payment, document and data providers through configuration rather than hardcoding.
Self-Service Capabilities
Policyholder and agent portals provide secure access to policies, documents, billing and payments, reducing service workload while improving user experience.
ISi's architecture emphasizes configurability, reliability and scalability—without heavy custom coding.
ISi’s Position in the Insurtech Landscape
ISi, developed by Modotech, is a policy administration system built exclusively for property and casualty insurers and MGAs. Unlike many insurtech companies that entered insurance from adjacent tech sectors, ISi was developed by insurance professionals to support real underwriting, billing, accounting and servicing workflows.
ISi provides a unified operational platform that integrates policy administration, billing, accounting, document management, portals and third-party services within a single system. Its architecture emphasizes configurability, reliability and scalability—without heavy custom coding.
How ISi Stands Out Among Insurtech Companies
P&C-only focus on regional carriers and niche markets
Workflow automation through configurable rules and maintenance jobs
Clear, consistent UI that reduces training time and user error
Configurability without custom code, preserving upgradeability
End-to-end coverage across policy, billing, accounting, documents and portals
Benefits of Partnering With Modotech
Improved underwriting and operational efficiency
Enhanced agent and policyholder experience through digital portals
Consistent branding across documents and communications
Enterprise-level capabilities tailored for small and regional insurers, as well as mid-sized carriers and MGAs, at a more affordable price
Common Mistakes When Selecting an Insurtech Platform
Ignoring integration requirements
Overlooking long-term scalability
Failing to align UX and branding needs
Choosing enterprise PAS platforms that exceed budget and complexity needs