Software success in a vertical market



The leader in modern insurance technology


Agencies served


Insurance carriers served


Net promoter score improvement during partnership with Bain Capital


Bain Capital’s successful partnership with Vertafore illustrates the importance of quickly building the right team around the right leader, and of the growth that can emerge as a result.

The insurance industry is being roiled by digital disruption, and Vertafore offers the tools and solutions to insurance agents, carriers and MGAs to help them thrive through this transition. Although Vertafore already was a market leader when Bain Capital had the opportunity to invest, we had a more expansive vision to help Vertafore change its growth trajectory in a way that would create lasting value.

Bain Capital approached Vertafore in 2016 when the company was locked in a market-share battle, in an industry we knew extremely well from our prior investment in Applied Systems. Our end-market context and deep engagement with the company helped us build conviction in Vertafore’s ability to leverage the customer criticality of its existing solutions into new and exciting growth vectors.

The transformative journey began by quickly identifying Amy Zupon as the CEO who would lead the company on its next phase of growth. Both Zupon’s impressive professional track record in vertical software and Bain Capital’s proprietary leadership assessment capabilities confirmed that she would be the linchpin to building a high-performance team and culture.

With Amy in the CEO seat, we then helped her promote, hire and develop leaders who shared her vision for what Vertafore could become. The team helped Vertafore repurpose its core system to drive much more efficient connectivity between agents and carriers. We also put great effort into unlocking the value of Vertafore’s data, which covered ~50% of all insurance premiums paid in the US. The data platform created new visibility for customers and new potential revenue streams for Vertafore. All of this translated into accelerated growth momentum and a strategic acquisition by Roper Technologies in 2020.


Our challenge was creating a plan for growth in a huge well-covered market. How do you continue to grow with your client base? We empowered the management team to systematically create more value for customers via new, innovative solutions, with confidence that it would translate into a more valuable investment.

Darren Abrahamson
Partner, Bain Capital Tech Opportunities