AUSTIN, Texas, Aug. 18, 2022 /PRNewswire/ — Inc. magazine revealed today that ePayPolicy is No. 1256 on its annual Inc. 5000 list, one of the most prestigious and well-known rankings of the nation’s fastest-growing private companies.
The list represents a unique look at the most successful companies within the American economy’s most dynamic segment— its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000. This was ePayPolicy’s first year to apply.
"Everyone that’s been here is well aware of the growth we’ve been experiencing," said CEO Mark Engels. "We were optimistic we might make this list when we applied, and it was a real honor to see where we landed. Our ranking is a reflection of our amazing team’s tireless efforts in delivering and supporting digital payments services for the insurance industry."
The COVID-19 pandemic helped accelerate the adoption of online digital payments for insurance, an industry that has lagged behind in more modern payment adoption and where the majority of payments still change hands in the form of paper checks. But even as a post-pandemic "normal" has set in for many Americans, growth at ePayPolicy has not slowed down.
"We were thrilled to hit our own 5,000 milestone last year, when we added our 5,000th customer," said Engels. "And our pace of growth continues to accelerate, which allows us to invest in new digital automation services for the insurance industry, including agencies, managing general agents, brokers, carriers and premium finance companies."
ePayPolicy’s upcoming product release, dubbed "CheckMate," was built based on customer feedback, and is designed to help offload the burden of check payments for companies whose customers might be slower to adopt digital payments, all while keeping them on the ePayPolicy payment platform. Engels says the team has other enhancements and products planned for later this year.
"Our focus on the insurance industry allows us to have a deep understanding of the challenges our customers face as they transform the way they digitally engage with their insureds," added Engels. "It’s this industry expertise that will continue to fuel our growth and allow us to compete for the Inc. 5000 list for years to come."
Built by insurance professionals for the insurance industry, ePayPolicy is the fastest, easiest and most secure way to move money for insurance. ePayPolicy’s products bring insurance payments up to speed for agencies, carriers, MGAs and PFCs, with secure online payment pages and automated check processing, with CheckMate. 5,500+ insurance companies trust ePayPolicy and their expert, live support team to handle their payments every day. Learn more: epaypolicy.com
More about Inc. and the Inc. 5000
The 2022 Inc. 5000 is ranked according to percentage revenue growth when comparing 2018 and 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 5000 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/inc5000.