Sunlight Solutions Announces 2023 Results
A strong fiscal year performance in 2023 sets the stage for continued growth in 2024
MINNEAPOLIS and PARIS, Dec. 12, 2023 (GLOBE NEWSWIRE) — Sunlight Solutions (Sunlight), a cloud-native provider of policy administration technology and innovative insurtech services, is pleased to announce the company’s year-to-date (YTD) actual performance has eclipsed all projections for 2023.
“Forgoing any investment, we’ve taken a unique path to grow and scale the company successfully,” said Didier Lamour, CEO and co-founder of Sunlight. “We have seen increasingly positive feedback from the market over the last several years, and 2023 has been our best yet.”
In 2023, sales of Sunlight’s end-to-end policy administration system and suite of insurtech tools, which primarily target commercial and personal line property and casualty (P&C) insurers and managing general agencies (MGAs), earned the company high-double digit revenue growth for the third consecutive year. In addition to a company best for new licenses signed, Sunlight also recently hired its 100th employee.
“2023 has proven the spectrum of insurance products our platform can administer and speaks to the depth of function and maturation of our core system,” said David McFarlin, director of business development. “Sunlight’s clients are now writing thirteen different lines of business on our platform, and we’ve made significant investments to support niche, non-traditional P&C markets like medical professional liability (MPL) and accident. We have seen great returns on this strategy alongside the growth of our traditional business in both the U.S. and EU.”
And, as alluded to by McFarlin, at the start of this calendar year, Sunlight announced the creation of a new entity, Sunlight Simplify (Simplify), focused exclusively on the MPL market. With successful implementations now in place for MPL insurers and MGAs in both the U.S. and EU in 2023, Simplify has expanded its product and delivery teams.
“MPL insurers have been starving for quality technology to modernize how they do business. Where other service providers have exited, we have firmly planted a flag,” said Bernadette Leh, head of Simplify.
The kind of growth experienced by Sunlight and Simplify in terms of client selections, successful implementations, increased depth of functionality, overall flexibility, and delivery efficiencies set the stage for continued growth in 2024 and for the company’s clients to continue to flourish in rapidly evolving landscapes.
“Our motivation is simple, it’s the continuous pursuit of creating and refining a product that users love and that drives successful outcomes for our customers,” said Lamour. “We are passionate about what we’ve built and our vision for Sunlight is very clear.”
About Sunlight Solutions (Sunlight)
Sunlight Solutions is the provider of a game-changing digital insurance solution, Sunlight Enterprise. Built for property and casualty (P&C) insurance companies and managing general agencies (MGAs) around the globe, Sunlight combines the management of key insurance operations with forward-thinking insurtech services. Developed on modern, open technology and offering flexibility with rich functionality, Sunlight Enterprise untethers insurers from technology constraints and allows them to dream big, design, and deploy uniquely tailored products with rapid speed-to-market and better serve users, producers, and customers. For additional information, please visit www.sunlightsolutions.com, or contact us at [email protected].
Media Contact:
Jennifer Overhulse
St. Nick Media Services
859-803-6597
[email protected]
