What Propel Insurance does

Propel Insurance is a full-service commercial and personal insurance brokerage founded in 1923 and headquartered in Tacoma, Washington. Operating under Alera Group since a September 2021 merger, the company employs over 600 staff across 12 office locations in the Pacific Northwest, Southeast, and Mountain West, and serves clients in all 50 states.

The firm provides commercial insurance, surety/bonds, workers' compensation, employee benefits, management liability, cyber liability, personal lines, and risk management services to a diversified client base of more than 21,600 organizations across 15+ industry verticals, including construction (2,300+ clients), senior care (500+ providers), manufactured housing (3,000+ communities), non-profits (100+), and education (50+ institutions). Differentiated offerings include proprietary branded programs such as CyberSmart™ (cyber liability), Comp360® (workers' comp claims and loss control), Healthcare Compass™ (benefits analysis), and Senior Care 360 (senior care platform). The technology stack integrates Vertafore's insurlink client portal, Zywave/Propelport for risk management, Indio for electronic renewals, and Alera Group's AleraDashboard and AleraHR platforms.

Propel generates revenue primarily through commissions paid by insurance carriers for placing business, with pricing determined on a custom, quote-based model tailored to client industry, coverage needs, and risk profile. The go-to-market relies on a sales-led, regional broker model with industry-specialized teams (commercial insurance, employee benefits, workers' comp, surety) executing face-to-face consultations at branch offices, supported by content marketing via the Propel Insights blog, webinars, and industry event participation. Following the Flexpoint Ford private equity partnership in 2018 and the subsequent Alera Group merger in 2021, the company has pursued both organic verticalization and inorganic roll-up acquisitions to expand its specialty capabilities and geographic reach.

Name

Propel Insurance

Legal name

Propel Insurance

Website

https://propelinsurance.com

Company type

Private

Founded year

1923

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Propel Insurance is a Pacific Northwest-headquartered, full-service insurance brokerage founded in 1923 that places commercial and personal coverage across 15+ industry verticals for 21,600+ clients, operating under Alera Group since 2021.

Ownership category

akta.pro rank

Product category

Commercial 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

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

akta.pro secondary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Commercial insurance brokerage
• Employee benefits brokerage
• Surety bond services
• Workers compensation insurance
• Cyber liability insurance

Headquarters

HQ city

Tacoma

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: Propel generates revenue through commissions paid by insurance carriers for placing business. As a full-service insurance brokerage, they earn commissions based on premium volume placed with partner insurance carriers.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Propel Insurance is a full-service insurance brokerage that places commercial, personal, surety, employee benefits, and management liability coverage with partner carriers for clients across multiple industry verticals. The firm pairs brokerage placements with risk management, claims advocacy, and proprietary programs such as CyberSmart™, Comp360® Workers' Compensation, Healthcare Compass™, and Senior Care 360, delivering tailored programs rather than off-the-shelf policies.

Product overview

Propel Insurance is a full-service insurance brokerage offering a portfolio of interconnected insurance products and specialized services. The core offerings include Commercial Insurance, Surety/Bonds, Workers' Compensation (via Comp360°), Employee Benefits (with Healthcare Compass™), Management Liability, Cyber Liability (via proprietary CyberSmart™ program), Personal Insurance, and Small Business Solutions. The company operates a multi-module platform model with flagship programs like Senior Care 360 (serving 500+ providers) and Comp360° Workers' Compensation deployed across 15 industry verticals. Client access is enabled through integrated platforms including Indio, Zywave/Propelport, Vertafore's insurlink, and Alera Group's proprietary tools (AleraDashboard, AleraHR, HRConnection).

Differentiator

Problem solved

Functional benefit

Brands

• CyberSmart™: Proprietary cyber liability program that minimizes impact of data breaches, strengthens response and helps guard against future attacks.
• Senior Care 360
• Comp360®

Products and services

• Commercial Insurance Customized insurance plans covering Property, General Liability, Business Automobile, Professional Liability, Employment Practices, Directors & Officers Liability, Commercial Crime, and Builder's Risk with loss control and safety programs, delivered to enterprise and mid-market clients by Propel's 110+ dedicated commercial brokers.
• Surety/Bonds Surety solutions including Contract Bonds (collaborative approach with underwriters and contractors) and Non-Contract Bonds (court bonds, license bonds, self-insured bonds, indemnity bonds, notary bonds). Recognized leader in surety solutions with relationships with the nation's largest surety carriers.
• Comp360® Workers' Compensation Elite team of claims and loss control consultants focusing on prevention and providing best outcomes on complex workers' compensation claims, including assistance with return-to-work programs. Available across multiple industry practices including construction, hospitality, manufacturing, and senior care.
• Employee Benefits Comprehensive benefits solution covering Medical, Dental, Vision, Life/AD&D, Special Risk, Long and Short Term Disability, Voluntary Plans, Section 125 Cafeteria Plans, HSAs, HRAs, Wellness Programs, Self-Insured Plans, EAP, Long Term Care, and Captives, delivered by 110 dedicated benefits brokers.
• Healthcare Compass™ Customized analysis tool that determines whether current employee benefits coverage is considered affordable under new laws and if it provides the minimum benefit value required, part of Propel's Employee Benefits special services.
• Management Liability Solutions protecting companies and leaders against damaging claims including Employment Practices Liability, Professional Errors & Omissions Liability, Fidelity (Crime) Insurance, Fiduciary Liability, Kidnap & Ransom Insurance, Political Risk, Representations and Warranties Insurance, and Private Equity/M&A coverage.
• CyberSmart™ Cyber Liability Propel's proprietary cyber liability program that minimizes the impact of data breaches, strengthens response capabilities, and helps guard against future cyber attacks. Tailored to fit with existing Commercial policies to ensure protection without gaps or duplicate coverage.
• Senior Care 360 Comprehensive senior care platform serving more than 500 providers across the country, including a dedicated team of insurance advisors, clinicians, risk consultants, and claims advocates focused on enhancing community operations, proactively mitigating risk, and managing litigation.
• Small Business Solutions Concierge insurance services for small businesses covering Property, Cyber Liability, General Liability, Umbrella/Excess Liability, Automobile, Professional Liability, Employment Practices, D&O, Commercial Crime, Builder's Risk, and personal lines including Home, Boat, Motorcycle, RV, and Umbrella.
• Personal Insurance Personal insurance advisors creating custom plans protecting against liability and personal property damage including Personal Automobile, Home, Boat/Yacht, Recreational Vehicle, Umbrella Liability, Fine Arts, Jewelry, Individual Health, Life, Long-term Care, and Medicare.
• Risk Management Services Risk management professionals offering assessing company risks, analyzing losses and claim trends, installing safety compliance measures, crisis management and disaster preparedness planning, customized training programs, policy development guidance, and ongoing program evaluation.

Quantifiable outcome

• 9% Annual Growth
• +3 more outcomes

Named customers3 records

Segments13 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

Partnerships

Six partnerships are on record, tiered flagship, core and minor.

• Oregon Health Care Association (OHCA)flagshipStrategic or Co-development Partner · 1 July 2024OHCA has endorsed Alera Group and Propel Insurance as partners to deliver employee benefits and property and casualty insurance solutions for senior care organizations in Oregon. The collaboration supports workforce retention, manages rising costs, and addresses evolving risks faced by over 300 providers nationally.
• Alera GroupcoreStrategic or Co-development Partner · 8 September 2021Propel Insurance merged with Alera Group in September 2021, joining one of the nation's top independent insurance and wealth management firms. This partnership strengthened the company and expanded its national reach, combining Propel's industry expertise with Alera Group's broader service offerings.
• South Risk Management (SRM)coreStrategic or Co-development Partner · 1 June 2021Acquired construction-focused insurance consulting firm South Risk Management (SRM), a construction-focused insurance consulting firm based in South Carolina, expanding Propel's presence in the Southeast. The deal enhanced Propel's construction risk practice and regional footprint.
• Washington Bankers AssociationminorChannel Partner/ Reseller/ DistributorProfessional association partnership providing banking industry insurance solutions to member institutions.
• Associated General Contractors of America (AGC)minorChannel Partner/ Reseller/ DistributorIndustry association partnership providing construction insurance solutions to AGC member contractors.
• Leading Insurance CarriersflagshipChannel Partner/ Reseller/ DistributorPropel has built strong relationships with many of the country's top insurance carriers. These partnerships allow creation of customized insurance programs for clients, including specialized coverage that may not be available elsewhere.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Marsh McLennan: Marsh is the world's largest insurance broker and a division of Marsh McLennan, serving large commercial and enterprise clients. It represents the upper bound of broker scale and is a useful incumbent comparable for Propel's commercial and risk management offerings.
• Acrisure: Acrisure is a global insurance brokerage and wealth management platform built on an aggressive PE-backed M&A model. It is broader than Propel but shares the private-equity roll-up DNA, tech-enablement strategy, and ambition to combine commercial brokerage with risk management and wealth services.
• Arthur J. Gallagher & Co. Gallagher is a top-3 global insurance brokerage and risk management firm. While far larger than Propel, it competes in the same middle-market and commercial insurance space and provides a strategic benchmark for industry specialization, benefits brokerage, and risk consulting.

Direct peers

• Hub International: Hub International is a large North American insurance brokerage that grew via a roll-up strategy, similar to Propel. It serves middle-market and commercial clients across verticals and has a comparable mix of retail brokerage, employee benefits, and specialty practices; both rely on carrier relationships and continued M&A to scale.
• USI Insurance Services: USI is a top-10 U.S. insurance brokerage with deep middle-market and commercial lines exposure. Like Propel, it has grown via acquisitions and emphasizes industry specialization, employee benefits, and risk management consulting — making it one of the most direct commercial brokerage comparables.
• Brown & Riding Insurance Services: Brown & Riding is a specialty insurance brokerage with strong construction, surety, and excess & surplus expertise. Its emphasis on construction and surety lines makes it a close peer to Propel's construction segment and surety practice.
• AssuredPartners: AssuredPartners is a PE-backed insurance brokerage that scaled rapidly through acquisitions across the U.S. Comparable to Propel in serving middle-market commercial clients with industry specialization and benefits capabilities, and in using acquisition-driven expansion.
• RPS Insurance Services (Ryan Specialty): RPS, part of Ryan Specialty, is a specialty insurance brokerage emphasizing wholesale brokerage, binding authority, and niche commercial lines. It overlaps with Propel's specialty vertical depth, including construction and other complex middle-market risks.

Regional players

• Heffernan Insurance Brokers: Heffernan is an independent insurance brokerage headquartered in California with strong West Coast and middle-market presence. Like Propel, it covers commercial, employee benefits, and personal lines, and competes for similar West Coast and Pacific Northwest accounts.

Emerging players

• Burns & Wilcox (HW Kaufman Group): Burns & Wilcox is a wholesale insurance brokerage and specialty underwriting distributor focused on surplus lines and complex commercial risks. It overlaps with Propel's specialty commercial placement capabilities and its construction and excess & surplus exposures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/propel-insurance
• Xx.com/PropelIns

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments

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

Frequently asked questions about Propel Insurance