NetRate Secures Funding From Polaris Partners

NetRate Systems, a SaaS rating engine and workflow platform for commercial insurance, has received a significant growth investment from Polaris Partners, a Boston-based private investment firm with over two decades of technology investing experience.

Founded by David and Karen Jordan and headquartered in Okemos, MI, NetRate brings 20 years of technology and insurance expertise to the property and casualty marketplace. With a focus on serving managing general agents (MGAs), program administrators and insurance carriers, the Company provides differentiated domain expertise and productivity gains to its clients, who use the platform daily to rate, quote, and bind policies with superior accuracy and automation. Additionally, NetRate generates data analytics and reporting that empowers clients to track key business metrics and meet timely and complex regulatory reporting requirements.

“We are delighted to partner with Polaris to help us capitalize on the opportunities we see in the market for continued expansion and impact. In an increasingly competitive commercial insurance environment, carriers, MGA’s, and agencies are looking for ways to grow their business through automation that NetRate has provided for more than 20 years. Partnering with Polaris will enable us to invest in market-leading innovation and drive unparalleled customer success.” – President and CEO of NetRate, Paul Areida.

“NetRate occupies a strategic position in the technology ecosystem of the high growth specialty insurance market – it is unique to find a value proposition that combines revenue-enhancing productivity gains with hard dollar cost savings. We are thrilled about our partnership with the talented team at NetRate, and excited to support their vision for long-term growth.” – Partner at Polaris Partners, Dan Lombard.