What Foundation Risk Partners does

Foundation Risk Partners, Corp. (FRP) is a U.S. Top 25 insurance brokerage and consulting firm that operates as a holding platform for acquired retail insurance agencies, headquartered in Ormond Beach, Florida with 159 office locations across 23 states and 3,000 professionals. Founded in 2017, FRP generates revenue principally through commissions earned by placing commercial and personal insurance with carriers, supplemented by risk management consulting and advisory fees. The company's product surface spans Employee Benefits, Property & Casualty (with specialty lines for aviation, marine, hospitality, community associations, and professional liability), Personal Lines (including High Net Worth), Life/Disability/LTC, and Risk Management services, delivered through five specialized practices — Automotive, Banking Institutions, Managed Care, Private Client, and Professional Risk. Digital client service is delivered through a web-based Client Portal and the MyAccess mobile app (white-labeled Applied Systems Mobile Insured), and operational infrastructure was unified on RingCentral UCaaS covering 90% of the agency footprint.

FRP's go-to-market model is rollup-driven: the firm acquires independent agencies, retains their local brands and producer relationships, and integrates them under the FRP platform, aggregating 174 acquired agencies over six years and reaching $815 million in 2025 revenue. Capital is supplied by Partners Group and Warburg Pincus via a 2022 recapitalization, with AI-enabled process automation layered on through a partnership with Version 1. The business model combines recurring commission streams from carrier relationships, professional services fees, and cross-segment distribution through specialty practices, with stated 7% organic growth layered on top of inorganic agency roll-ins.

Name

Foundation Risk Partners

Legal name

Foundation Risk Partners, Corp.

Website

https://foundationrp.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Foundation Risk Partners is a U.S. Top 25 insurance brokerage and consulting firm operating a network of 174 acquired agencies across 23 states, serving commercial, personal lines, employee benefits, and high net worth clients with $815 million in 2025 revenue.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industry

Employee Benefits Brokerage & Consulting (FSAEADAC)

Keywords

• Commercial insurance brokerage
• Employee benefits consulting
• Personal lines insurance
• Risk management services
• Insurance agency network

Headquarters

HQ city

Daytona Beach

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: FRP operates as an insurance brokerage generating revenue through commissions from insurance products placed with carriers. The company serves as an intermediary between insurance buyers (clients) and insurance carriers, earning commissions on each policy sold and renewed.
2. Consulting and Advisory Services: Risk management consulting and advisory services provided to clients across various industries, complementing the insurance placement business.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Foundation Risk Partners operates a national insurance brokerage platform comprised of 174 acquired agencies offering Property & Casualty, Employee Benefits, Personal Lines, Life/Disability/LTC, and Risk Management services. The firm places coverage with insurance carriers and earns commissions, while also providing risk advisory and claims advocacy through specialty practice groups serving commercial and individual clients.

Product overview

Foundation Risk Partners operates as a platform of highly respected insurance agencies offering a comprehensive suite of insurance products and services. The core offerings include Employee Benefits (health benefits consulting, compliance, and wellness programs), Property & Casualty (commercial insurance with specialty lines), Personal Lines (auto, home, flood coverage), Life/Disability/LTC, and Risk Management services. The company also operates specialized practices including FRP Automotive Practice, FRP Banking Institutions Practice, FRP Managed Care Practice, FRP Private Client Practice, and FRP Professional Risk Practice. Digital service delivery is provided through the Client Portal and MyAccess mobile app, enabling clients to manage policies, access ID cards, report claims, and make payments. The platform is backed by Partners Group and has grown through both acquisitions and organic growth, with 159 office locations across 23 states and 3,000 professionals.

Differentiator

Problem solved

Functional benefit

Brands

• FRP Automotive Practice: Specialized automotive insurance practice under the FRP network
• FRP Banking Institutions Practice
• FRP Managed Care Practice
• FRP Private Client Practice
• FRP Professional Risk Practice

Products and services

• Employee Benefits
• Property & Casualty
• Personal Lines
• Life, Disability and LTC
• Risk Management
• FRP Automotive Practice
• FRP Banking Institutions Practice
• FRP Managed Care Practice
• FRP Private Client Practice
• FRP Professional Risk Practice Professional liability coverage and risk management for professionals including architects, engineers, surveyors, and other specialized occupations.
• MyAccess Mobile App Mobile application for on-the-go access to policies, coverages, ID cards, service contacts, and request features for FRP clients.
• Client Portal Web-based client portal enabling policy management, auto ID card downloads, digital policy documents, claims reporting, certificate issuance, and policy change requests.
• Online Payment Third-party payment processing system for credit card and ACH payments for insurance premiums.

Quantifiable outcome

• 90% decrease in cycle times for certain activities through AI implementation
• +4 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Four partnerships are on record, tiered specialty, core and support.

• ARTDAIspecialtyTechnology or Integration · 19 March 2026Partnership with ARTDAI, a provider of art market data and analytics, to enhance risk advisory services for valuable art collections. The partnership aims to utilize real-time analytics and comprehensive market data to improve insurance coverage and valuation for clients' collections.
• RingCentralcoreTechnology or Integration · 23 January 2026FRP moved 90% of operations to soft phone systems using RingCentral's Unified Communications as a Service (UCaaS) platform. This migration reduced costs and improved collaboration across the organization of 174 acquired agencies.
• RT SpecialtysupportStrategic or Co-development Partner · 24 March 2025Partnership with RT Specialty for the Power Collective Speaker Series featuring women leaders from RT Specialty who shared insights on Women's History Month and mentorship in the insurance industry.
• Version 1coreTechnology or Integration · 16 January 2025Strategic partnership with Version 1, a digital transformation company, to implement AI solutions for processing risk analysis reports. The collaboration has delivered measurable results including up to 90% decrease in cycle times and up to 50% increase in prospect conversion rates, while improving accuracy across all levels of case complexity.

Scale indicators9 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Brown & Brown: Brown & Brown is one of the largest U.S. insurance brokerages and a direct peer to FRP, operating a similar decentralized model of acquired agencies across property & casualty, employee benefits, and personal lines. The two companies compete head-to-head for agency acquisitions and middle-market commercial clients.
• Hub International: Hub International is a leading North American insurance brokerage that has pursued a very similar private-equity-backed roll-up acquisition strategy. Comparable to FRP in business model, agency network structure, specialty practice focus, and PE sponsorship profile.
• Acrisure: Acrisure is one of the fastest-growing insurance brokerages globally, built on an aggressive acquisition strategy backed by private equity. It is the closest analog to FRP in terms of growth velocity, PE ownership, and roll-up playbook, though at materially larger scale.
• USI Insurance Services: USI Insurance Services is a major U.S. insurance brokerage built through acquisitions and backed by private equity. It competes with FRP in middle-market commercial, employee benefits, and personal lines, with comparable specialty practice group structures.
• AssuredPartners: AssuredPartners is a U.S. insurance brokerage built on a roll-up acquisition strategy under private equity ownership. Its business model, agency network, and acquisition pace are highly comparable to FRP, particularly in property & casualty and middle-market commercial segments.
• Risk Strategies: Risk Strategies is a national insurance brokerage that has grown through a mix of organic and acquisition-led expansion, backed by private equity. It is comparable to FRP in size, growth strategy, and specialty practice orientation.

Broad incumbents

• Arthur J. Gallagher: Arthur J. Gallagher is a global insurance brokerage and risk management services firm that competes broadly with FRP across commercial, employee benefits, and personal lines. As a public incumbent at much larger scale, it represents both a competitor and a likely strategic acquirer of FRP-style platforms.
• Marsh McLennan: Marsh McLennan is one of the world's largest insurance and risk advisory firms, providing global brokerage, consulting, and claims services. While much larger and globally diversified, Marsh competes with FRP for large enterprise accounts and represents a potential strategic acquirer.
• Lockton: Lockton is the world's largest privately held insurance brokerage, with strong positions in commercial, employee benefits, and personal lines. As a privately held incumbent with a similar decentralized service model, Lockton is a relevant comparable for FRP at a larger scale.
• Aon: Aon is a global professional services firm providing insurance brokerage, reinsurance brokerage, and risk advisory. While operating at global scale with a broader advisory portfolio, Aon competes with FRP for large enterprise insurance placements and represents an industry benchmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/foundation-risk-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries10 records

Funding overview

Funding rounds2 records

Investors1 record

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

M&A1 record

Investments

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

Frequently asked questions about Foundation Risk Partners