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Volition

Acquired in 2015 by Thoma Bravo, iPipeline provides on-demand insurance administration software that helps enable straight-through processing between insurance agencies and carriers.

 

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About iPipeline

iPipeline provides on-demand insurance administration software that helps enable straight-through processing between insurance agencies and carriers. The software allows both parties to streamline the approval, quoting, underwriting, and illustration processes and is used for life insurance and annuity products.

Background

Originally co-founded in 1995 by Bill Atlee, the idea came about as a seasoned life-insurance agent from Philadelphia who got so frustrated by all the time and paperwork in selling insurance that he came up with a better way himself. iPipeline developed a content network with the latest carrier rates and forms for the distribution channel to access, and with its intelligent forms iGO product, enabled the automation of application submission at the point of sale. To build on its vision of becoming a category leader in the life insurance space, iPipeline wanted the benefits that come from a financial partner.

In 2008, Volition Capital invested in iPipeline to give the Company runway. Today, iPipeline is considered a market leader of SaaS and straight-through processing solutions for the insurance industry.

WHY WE INVESTED IN IPIPELINE

As a whole. the life insurance industry represented a large, inefficient market in need of innovation. “Insurance has historically invested heavily in back-office systems but is increasingly recognizing the need to invest in front-end systems that help enable straight-through-processing and reduce the time and cost associated with the largely paper-driven insurance application process,” said Roger Hurwitz, Managing Partner of Volition Capital. The Volition team saw how – through its on-demand front-end platform – iPipeline addressed the problems associated with independent insurance distribution.

“Additionally, iPipeline demonstrated its ability to penetrate the market with a blue-chip list of clients despite having been an under-capitalized, founder-owned businesses without the resources of a financial partner,” said Sean Cantwell, Volition Capital Managing Partner. “We believed there was a tremendous amount of opportunity for this business.”

HOW WE PARTNERED WITH IPIPELINE
  • Helped recruit CEO, Independent Board member, and other key executives
  • Advised on product initiatives, international expansion and sales strategy to capture market opportunity
  • Assisted in sourcing, conducting diligence, and financing for acquisitions
  • Introduced iPipeline to bankers, investors and prospects
PATH TO EXIT
  1. Volition co-led financings in 2008 and 2009
  2. Thoma Bravo acquired iPipeline in 2015
  3. In 2019, iPipeline announced acquisition by Roper Technologies for $1.6 billion