SaaS InsureTech Platform Increases Sales Bookings 450% YoY and Forecasts Triple Digit Growth in 2021
DENVER–(BUSINESS WIRE)–#insurance–CHSI Technologies (“CHSI” or the “Company”), the market-leading SaaS InsureTech firm for policy and claims lifecycle management, billing, decision support and analytics announced record financial results and exponential sales growth in 2020. Post CHSI’s majority recapitalization in Q4 2019 by Bow River Capital’s SaaS Growth Equity Fund, CHSI executed on its strategic vision and operating plan; highlighted by releasing modern SaaS Claims and Portal modules, aggressively scaling each business unit, and re-engineering the Company’s go-to-market engine.
News and Milestones in 2020:
- Grew SaaS subscription book of business by 45% YoY
- Increased sales bookings by 450% YoY
- Grew Q4 sales bookings by 275% YoY
- Closed three major enterprise contracts on the Company’s new, modern claims system and producer access portals
- Achieved best-in-class net retention results of 109%
- Built new integration and compliance system capabilities for Connections – its market-leading policy management platform
- Partnered with multiple InsureTech software leaders via market and client requirements
- Opened a new Denver, Colorado headquarters to support the onboarding of 3X Company staff and grew its research and development organization by 8-fold YoY
- Built the Company rebranding foundation for an exciting Q1 launch
“While keeping our hyper focus on the safety of our families, clients, and partners, I am so proud of the way we successfully navigated through 2020 and the COVID-19 complexities,” stated Chris Stites, CEO of CHSI. He further emphasized, “We are forecasting continued triple digit growth in 2021 and will staunchly meet our insurance client commitments across the board: enabling business decisioning through data-backed analytics; building high value features for rapid deployment of new multi-line, multi-state revenue opportunities; scaling best-in-class client support and adoption to ensure business alignment; and producing compelling return on investment metrics with our platform.”
About CHSI Technologies
CHSI Technologies, backed by Bow River Capital, is a market-leading InsureTech platform for policy and claims lifecycle management, billing, real-time decision support and analytics. The company’s flagship product, Connections, supports commercial insurance carriers, captives, public entity pools, Self-Insured Groups, and risk and claims managers. A partial client list includes Trean Corporation, Brentwood Services Administrators, Inc, Manufacturing Technology Mutual Insurance Company (MTMIC), Housing Authorities Risk Retention Pools (HARRP), UBIC Workers Compensation Insurance, and Gallagher. Learn more at chsiconnections.com, or follow the company on LinkedIn or Twitter.