Keystone Agency Partners

What Keystone Agency Partners does

Keystone Agency Partners (KAP) is a US insurance brokerage platform founded in 2018 as a subsidiary of Keystone Insurers Group, headquartered in Mechanicsburg, Pennsylvania, and operating as a private, for-profit company with 1001-5000 employees. KAP acquires and partners with high-performing independent insurance agencies across 31 states, organizing them into two tiers: Platform Partners (wholly-owned subsidiaries whose brands are retained) and Network Partners (independent agencies accessing the franchise network). Named Platform Partners include LifeQuotes.com, Keyes Coverage, Árachas Group, DeHayes Insurance Group, Duncan Financial Group, McGowan Insurance Group, The Yurconic Agency, Cartier Insurance, Garrett Insurance, Insuramax, and over 20 others spanning personal lines, commercial P&C, employee benefits, transportation, construction, and life insurance. In June 2024 KAP acquired its former parent Keystone Insurers Group, creating what the company describes as the first national platform combining a franchise network and broker model under one entity.

The company's core technology is an insurance brokerage platform with proprietary network infrastructure linking partner agencies and 80+ carrier relationships, including Nationwide, Liberty Mutual, Chubb, Travelers, Progressive, The Hartford, Accident Fund, Westfield, Frankenmuth, Donegal, Foremost, and Hagerty. Shared services span Risk Management, Claims Services, Employee Benefits, Financial Services, Carrier Management, Field Management, Sales Enablement, Marketing, and Education & Training. LifeQuotes.com, acquired January 2024, provides a digital direct-to-consumer life insurance marketplace quoting 50 carriers with instant decision no-exam coverage up to $10 million. The company also operates the annual Elevate conference, the IMPACT Exchange Group for executive peer forums, and Agency Evolution programs.

KAP's revenue model is commission-based agency brokerage, monetizing property & casualty, employee benefits, life insurance, and specialty lines placed through partner agencies and carrier partners. The company generates scale through aggressive acquisition-driven growth, with platform revenue compounding from $30M in 2020 to $485M in 2025. Since May 2021, KAP has raised nearly $1 billion in capital, including a $330 million round in January 2024 led by Apogem Capital and Crescent Capital, with prior participation by Flexpoint Ford. KAP is ranked the 24th largest broker by Insurance Journal, the 27th largest retail broker by Business Insurance, and the 5th fastest-growing broker in the United States.

Name

Keystone Agency Partners

Legal name

Keystone Agency Partners

Website

https://mykeystone.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Keystone Agency Partners is a US insurance brokerage platform that acquires and partners with independent agencies across 31 states, providing shared services in risk management, claims, benefits, and carrier access while reaching commercial and consumer insurance buyers.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

B2B Channel Partners & Referral Agencies (Cross-Industry Referral) (FSAEAMAN)

Keywords

• Insurance brokerage services
• Commercial property insurance
• Employee benefits brokerage
• Insurance agency network
• Risk management services

Headquarters

HQ city

Harrisburg

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Agency Commissions and Fees: Revenue generated through commissions from insurance carriers on policies placed by partner agencies. Platform Partners and Network Partners generate revenue through insurance brokerage services including property & casualty, employee benefits, and life insurance products.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Keystone Agency Partners is an insurance brokerage platform that acquires and partners with high-performing independent insurance agencies across 31 states. The company operates a two-tier model: Platform Partners (acquired agencies retained under their own brand) and Network Partners (franchise members). It delivers property & casualty, employee benefits, and life insurance products through 80+ carrier partnerships, supported by shared services in risk management, claims, carrier management, field management, and sales enablement.

Product overview

Keystone Agency Partners operates as a rapidly growing insurance brokerage platform with a multi-brand portfolio model. The company has two primary partner tiers: Platform Partners (26 independent agencies acquired and partnered with, including LifeQuotes.com, Keyes Coverage, Árachas Group, McGowan Insurance Group, Walton Insurance Group, and others) and Network Partners (independent agencies leveraging Keystone's resources). The core platform provides shared services including Risk Management, Claims Services, Employee Benefits, Financial Services, Carrier Management, Field Management, Sales Enablement, Marketing, and Education & Training. The company also hosts the Elevate annual conference and offers platform resources for organic and inorganic growth. Keystone ranked as the 27th largest retail broker and 5th fastest-growing broker in the United States as of 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• LifeQuotes.com Online life insurance marketplace and price comparison platform providing instant decision, no-exam life insurance options up to $10 million with quotes from 50 life insurers. Serves individual consumers and has completed 15 consecutive years of profitability with 430,000+ customers served since 1984.
• Risk Management Services Comprehensive risk management division providing accident prevention, OSHA compliance, claims facilitation, fleet safety, DOT compliance, HR management, and risk mitigation strategies for network partners and clients.
• Claims Services Claims facilitation and advocacy services including workers compensation, auto, general liability, and property claims management with reserve oversight.
• Employee Benefits Brokerage Expert support for group health, ancillary, voluntary benefits, fully insured and self-insured solutions, plan benchmarking, and benefits administration technology.
• Financial Services Advanced case design, underwriting expertise, and access to financially strong markets offering term/permanent life insurance, estate planning, and retirement solutions.
• Education & Training Live webinars, peer-driven conversations, carrier webinars, and educational sessions on Keystone programs, tools, and strategic initiatives for network partners.
• Carrier Management Strategic carrier partnerships, data analytics, contract management, and profit-sharing negotiation services for network partners across 80+ carrier relationships.
• Field Management State VPs and field team support connecting agencies to resources, assisting with carrier appointments, business planning, and carrier relationships across all 31 states.
• Marketing Services Collaborative marketing programs, ready-to-use templates, community-focused packages, brand assets, and Digital Asset Manager access for partner agencies.
• Sales Enablement Agency Evolution, IMPACT Exchange Group, and Top S.P.E.E.D. programs for recruiting, sales performance, and leadership development for partner agencies.
• Keyes Coverage Third-generation, family-owned insurance agency providing personal, commercial, and employee benefits solutions in South Florida with over 90% client retention rate.
• DeHayes Insurance Group Largest privately-owned independent insurance agency in Northeast Indiana, serving customers across all 50 states with business and personal insurance.
• McGowan Insurance Group Family-owned insurance group for over 90 years with 21 offices across Indiana, offering property and casualty, commercial, personal, bonding, and employee benefits representing 100+ companies across 50 states.
• Duncan Financial Group Family-operated financial services firm providing comprehensive financial planning, insurance, and risk management for families and businesses, serving as the financial services platform for Keystone Agency Partners.
• ÁRachas Group, LLC Insurance agency offering trucking, commercial, personal, group benefits, and individual life and health insurance products across all 50 states.
• Nulty Insurance Agency Kalamazoo-based independent insurance agency founded in 1945 offering commercial and personal insurance and employee benefits with 95% commercial client retention.
• Walton Insurance Group Second-generation, family-owned insurance group for over 70 years in Jackson, Michigan serving personal, business, and health benefits with over 95% retention.
• The Yurconic Agency Agency founded in 1969 in the Greater Lehigh Valley offering personal, business, life & health, specialty insurance, and vehicle registration services.
• Ascent Insurance Group Oklahoma-based insurance agency providing tailored insurance solutions through access to financially responsible national insurance brands.
• Insuramax National insurance agency since 1970 serving medium to large commercial accounts across restaurants, habitational, non-profit, construction, and manufacturing industries.
• Arnold Insurance Independent insurance agency with 13 office locations providing personal and commercial insurance services across the Midwest and select other states.
• Griffin and Company Georgia-based insurance agency providing comprehensive insurance solutions for commercial and personal needs, including home and auto insurance.
• Guy Hurley Insurance and surety services agency specializing in the construction industry with strong carrier relationships and client service focus.
• Garrett Insurance Agency Texas-based insurance agency specializing in farm, ranch, agriculture, and oil & gas industries with commercial, personal, and employee benefits offerings.
• General Agency Company Michigan-based full-service insurance agency since 1915 specializing in program business for trade associations, offering commercial, personal, and employee benefits.
• Main Street Insurance Group Insurance group with strong presence in the greater Charlotte area serving customers across North Carolina with personalized service and tailored solutions.
• Mason-McBride Insurance Independent insurance and risk management company based in Troy, Michigan offering personal, commercial, and employee benefits solutions in 27 states.
• Roland, Abbott and DeZoort Independent insurance agency with 80+ years of combined experience offering a complete range of insurance products and financial solutions in Georgia.
• Seltzer Group Partners Independent insurance agency founded in 1948 providing home, auto, farm, and small business policies in Eastern Pennsylvania.
• Strategic Insurance Partners 100-year-old insurance agency with focus in construction, professional services, and municipality sectors, serving clients in over 30 states.
• TFW Agency (Thomas-Fenner-Woods) Insurance agency providing tailored solutions for individuals, businesses, schools, churches, and non-profits including property, casualty, life, health, and bonding.
• Cartier Insurance Independent insurance agency specializing in business, trucking, home, auto, and employee benefits insurance since 1979, with expansion into Wisconsin and Minnesota.
• Loman-Ray Insurance Independent insurance agency committed to providing the best experience for customers from policy purchase to claims handling.
• Myers, Benner Corporation Specialized insurance provider focusing on franchised truck/car dealers, schools, fuel dealers, manufactured housing, contractors, and service garages.
• Elevate Annual Conference Keystone's annual conference bringing industry leaders together for keynotes, interactive sessions, and networking opportunities. Registration opens in June with the event in September.

Quantifiable outcome

• Revenue grew from $100M in 2021 to $485M in 2025
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core.

• Accident FundcoreOthersInsurance carrier partner providing workers compensation and other insurance products through Keystone's network of agencies.
• NationwidecoreOthersMajor national insurance carrier partner offering personal and commercial insurance products across Keystone's network.
• Liberty MutualcoreOthersNational insurance carrier providing personal and commercial insurance products through Keystone network partners.
• ChubbcoreOthersLeading global insurance carrier partner providing commercial and personal insurance solutions.
• TravelerscoreOthersNational insurance carrier partner offering commercial and personal lines products through Keystone network.
• ProgressivecoreOthersMajor insurance carrier partner providing personal auto insurance and other products.
• The HartfordcoreOthersNational insurance carrier partner offering commercial and personal insurance products.
• Foremost InsurancecoreOthersSpecialty insurance carrier partner providing products for various niches including manufactured housing.
• HagertycoreOthersSpecialty insurance carrier partner for classic car and collector vehicle insurance.
• Westfield InsurancecoreOthersRegional insurance carrier partner providing commercial and personal insurance products.
• Frankenmuth InsurancecoreOthersRegional carrier partner offering insurance products through Keystone network.
• Donegal Insurance GroupcoreOthersRegional insurance carrier partner providing personal and commercial insurance.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Acrisure: One of the largest PE-backed insurance brokers globally, built through an aggressive acquisition strategy similar to Keystone's. Acrisure competes directly for the same pool of independent agencies and has scaled well beyond $4B in revenue.
• Risk Strategies: PE-backed specialty insurance brokerage (Kohlberg & Company, Bain Capital) with an acquisition-driven model and broad national reach across commercial, personal, and employee benefits — closely analogous to Keystone's M&A playbook.
• Alera Group: PE-backed (GTCR) insurance brokerage firm built through acquisitions of independent agencies. Competes directly with Keystone for regional agency partners and operates shared service centers similar to Keystone's Platform Partner model.
• IMA Financial Group: PE-backed independent insurance brokerage with a partner-network/franchise model overlapping with Keystone's Network Partner concept. Provides shared services to acquired and affiliated agencies across P&C and benefits.
• Brown & Riding Insurance Services: Specialty wholesale insurance brokerage with a national footprint, also PE-backed. Comparable to Keystone in acquisition strategy but with greater emphasis on specialty and wholesale placement.
• PCF Insurance Services: PE-backed retail insurance broker with a roll-up M&A model comparable to Keystone's, serving SMB and middle-market clients across commercial, personal, and benefits lines. Recently recapitalized at multi-billion-dollar valuation.
• NFP: PE-backed insurance broker and advisor with deep benefits, P&C, and wealth management capabilities. Pursued a similar acquisition-led growth strategy and was the subject of a major acquisition attempt by Aon.
• Hub International: Established PE-backed insurance brokerage (Hellman & Friedman, TPG, etc.) with a North American platform spanning commercial, personal, and benefits. Operates a regional hub model overlapping with Keystone's Platform Partner structure.
• AssuredPartners: PE-backed insurance brokerage platform acquired by Arthur J. Gallagher in 2024 for ~$13.5B. Competed with Keystone directly in the independent agency acquisition market and similarly focused on commercial P&C and benefits distribution.

Broad incumbents

• Marsh McLennan: The world's largest insurance broker and risk advisor. While not a direct roll-up competitor, Marsh competes with Keystone's platform partners for large commercial accounts and sets carrier commission norms across the industry.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/keystone-agency-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries5 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Keystone Agency Partners