NEW YORK--(BUSINESS WIRE)--Inc. revealed today that NOW Insurance ranks No. 559 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. The company achieved the 9th spot on insurance industry rankings. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses.
“We are thrilled to have made the list for the first time. It is a testament to the relentless hard work and dedication every employee has given to our cause: transforming healthcare liability insurance with a superior product alongside exceptional customer service,” said Philip Cabaud, Founder and CEO of NOW Insurance.
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years. NOW Insurance experienced nearly 800% percent revenue growth during the three-year period.
“The company plans to continue rapid expansion as we bring more product classes online. We have a full pipeline and much to come for large and small risks in need of insurance and risk management solutions designed for the modern health care system,” continued Cabaud.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. All 5000 companies are featured on Inc.com starting Tuesday, August 13, and the top 500 appear in the new issue of Inc. magazine, available on newsstands beginning Tuesday, August 20.
About NOW Insurance
NOW Insurance, a data-driven, AI-powered Insurtech, is designed to disrupt a centuries-old business model to deliver a range of customizable, affordable, and flexible coverage options that meet the needs and requirements of modern physicians and healthcare providers. By leveraging advanced, next generation technologies such as predictive analytics and machine learning, NOW Insurance has transformed previously intricate and complex insurance processes into seamless, frictionless customer experiences. NOW Insurance was founded in 2019 by industry veteran Philip Cabaud to provide a best-in-class service for physicians and healthcare professionals in ways they have yet to experience with traditional, legacy insurers. For more information, please visit www.nowinsurance.com.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
