Insurance on a ground-up multifamily job is normally a stack, not one policy. Builders risk covers the work in place and materials, usually written on a completed value basis with a term matched to the schedule plus a buffer, and extension endorsements cost real money when you blow the schedule. General liability sits with the GC and with the owner separately, since owners typically carry an owner's protective or an OCIP depending on deal size. Then excess or umbrella above both, because lenders and equity commonly require limits in the tens of millions. Workers compensation lives with each sub, and the owner verifies it through certificates. You'll also see professional liability for the design team, pollution liability where there's any environmental history, and often subcontractor default insurance or bonds in place of it on larger jobs. Wrap policies for construction defect exposure are common in condo work and increasingly in for-rent work in states with aggressive defect statutes, and how those statutes apply varies by state, so that specific piece needs a local construction attorney rather than a broker's summary.
On software, the recurring lines are project management and draw tracking, usually something like Procore or Buildertrend on the construction side, an accounting system with job cost by cost code, and a document and draw platform the lender's inspector works through. Sponsors also pay for market data, CoStar or Yardi Matrix, and third party market studies per deal that commonly run in the low thousands to five figures. Underwriting itself still lives in Excel at most shops.
Licensing depends on the state. In many states a developer who hires a licensed GC needs no construction license of their own, and in some states owner-builder rules bite. If you're planning to raise outside equity, the securities side is where sponsors actually get hurt, and that's a lawyer's job.
The gap I'd look at is draw administration and lien waiver tracking. Small sponsors do that badly, by hand, and it delays funding.
