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Four partners in the commercial insurance space joined forces in 2020 to offer a competitive tech enabled commercial insurance wholesale solution to retail brokers. By utilizing a proprietary rating system, the Company enables retail agents to rate, quote, bind, and issue most commercial insurance policies in real time. The partners acquired a small book of business in late 2020 to get started, quickly signed up about 100 brokers at the beginning of 2021, and has been growing steadily since with a current roster of over 600 brokers in 17 states. Workers Comp represents just shy of 70% of the current book of business, with the balance in general liability and other P&C products. The largest carriers for this book are Atlas General, Topa, Amtrust, and Employers Insurance Co.

All four partners run other businesses and have found that adding this additional company to their combined portfolios has required more effort than they bargained for. However, the proof of concept is clearly there, as this still new company shows that it is possible to offer one-click binding for commercial products, and that there is a demand for it among retail brokers.

As a small wholesaler, this Company has negotiated commission percentages from carriers that are not as good as many more established wholesalers can get, and so an immediate opportunity exists for a Buyer to increase – potentially double or triple – their net commission income from this book from day one. This is a great opportunity for the right strategic buyer.

Two employees came with the Company when it was purchased in 2020 and may want to continue with the Buyer if desired.

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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.