Bond-Pro - Volition Capital

IT Infrastructure
Data, Analytics & Automation

Bond-Pro provides policy administration, underwriting and claims processing software to specialty insurance carriers and agents.

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@BondProSoftware

Another huge step forward on Bond-Pro's quest toward eradicating Surety data reentry. Billing integration enables Insurers to achieve greater efficiencies and slash overhead costs. #SuretyTech #InsurTech #NoDataReentry #DigitalTransformation https://t.co/bQelZBMwLJ

ABOUT

BondPro offers an end-to-end core software platform to specialty insurance carriers and agents that helps them grow premiums, while reducing risk and operating costs. The Company’s software allows its clients to streamline and automate the entire lifecycle of bonds in the surety and fidelity bond space today.

BACKGROUND

Founded in 2012 as a spin-out of a specialty insurance carrier, Bond-Pro evolved its product over the next several years to become the surety bond industry’s only enterprise-grade software platform.

In January 2019, Volition led the Company’s first round of institutional financing to help accelerate the Company’s ambitious product initiatives in the surety space as well as its planned expansion into adjacent lines of specialty insurance.

WHY WE INVESTED

Property and casualty insurance carriers have undergone a wave of core systems software adoption over the last decade, scrapping their aging, inflexible homegrown solutions in favor of modern software applications. However, this trend of 3rd party software adoption has yet to gain meaningful traction in specialty insurance given the relatively complex nature of many specialty insurance products. Beginning in surety with the ambition to extend the platform into adjacent lines of specialty, Bond-Pro’s vision is to become the leading provider of enterprise grade software in the specialty insurance industry.