Method
Method Insurance Services LLC is a US workers' compensation Managing General Agent (MGA) that underwrites and services exclusive specialty programs across 700+ class codes, distributing exclusively through 4,000+ independent agents nationwide and reaching $170M inforce premium in 2023.
- Company typePrivate
- Founded2014
- HeadquartersOmaha, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Method does
Method Insurance Services LLC is a US-based Managing General Agent (MGA) that underwrites and services workers' compensation insurance exclusively, distributing through a network of more than 4,000 independent insurance agents across all non-monopolistic states plus Guam and Puerto Rico. The company operates specialty programs targeting middle-market and small businesses as well as underserved verticals including staffing, security guard, and cannabis, supported by six carrier partners (Pinnacol Assurance, Attune, Everpeak, Cake Insure, and others) and an internal reinsurance arm, Salus Re.
The technology stack couples third-party platforms with proprietary workflows: Gradient AI for underwriting, a customized Origami Risk claims platform enforcing Method's proprietary claims protocol, an in-house medical bill review system with configurable rules engines, a 100% digital premium audit process, and the SmartPay pay-as-you-go payroll reporting integration. Method writes over 700 class codes and leverages a nationwide network of 1.5 million preferred providers and 70,000 pharmacies for managed care.
Method's business model is structured as an MGA earning commissions on inforce premium, which grew from $100M in 2022 to $170M in 2023, with additional fee income from ancillary services such as payroll reporting ($339-$350 per policy annually) and Texas non-subscriber claims administration. The company was built through a roll-up strategy originating in 2014 as OccuSystems Inc., with acquisitions of Texas Healthcare Foundation (2015), Caprock and Cornerstone (2016), Redpoint Comp Holdings (2018), Method Insurance Services (2019), and Risk Exchange (2022), before consolidating all operations under the Method brand in 2022.
Method firmographics
Firmographics- Name
- Method
- Legal name
- Method Insurance Services LLC
- Website
- https://methodinsurance.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Method Insurance Services LLC is a US workers' compensation Managing General Agent (MGA) that underwrites and services exclusive specialty programs across 700+ class codes, distributing exclusively through 4,000+ independent agents nationwide and reaching $170M inforce premium in 2023.
- Ownership category
- akta.pro rank
Method industry classification
Industry- Product category
- Workers' Compensation Insurance
- NAICS
- Insurance Agencies and Brokerages (52421), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)
- akta.pro primary industry
- Insurance Program Administration & MGA/MGU Services (FSAEADAK)
- akta.pro secondary industries
- Workers’ Compensation for Small Business & Pay-As-You-Go Programs (FSAJAEAG), Claims Management & Digital FNOL Platforms (FSAGAGAC), Insurance Claims Intake & FNOL Support (BPAAAFAA)
Keywords
Where Method is headquartered
LocationHeadquarters
- HQ city
- Omaha
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Method business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Workers' Compensation Insurance Premiums: Method acts as an MGA (Managing General Agent) earning commissions from six carrier partners for workers' compensation insurance policies written across all non-monopolistic states. Revenue is generated through premium-based commissions on insurance policies covering employers for workplace injuries.
- Payroll Reporting Services: Partnership with SmartPay to offer pay-as-you-go payroll reporting services. SmartPay charges policyholders $339 annually for payroll vendor reporting or $350 for self-reporting service (SPRS), with 0% deposit requirements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Workers' Compensation Insurance - Coverage from $10K minimum premium |
| Subscription | Pay-as-you-go | Small Business Program - Minimum payroll $12,500 |
| Subscription | Pay-as-you-go | Staffing Program - $10K minimum premium, $10K minimum premium |
| Subscription | Pay-as-you-go | Cannabis Program - No minimum premium |
| Subscription | Monthly | Security Guards Program - A-rated carriers |
| Usage-based | Annual | SmartPay Payroll Vendor Reporting - $339 annual fee |
| Usage-based | Annual | SmartPay Self-Reporting Service (SPRS) - $350 annual fee |
| Subscription | Annual | Wholesale Program - $5,000 minimum |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Method product offering
Product offeringCore offering
Method Insurance is a workers' compensation Managing General Agent (MGA) that underwrites and services workers' comp insurance programs through a network of over 4,000 independent agents across all non-monopolistic U.S. states, backed by six carrier partners. The company offers exclusive programs for middle market, small business, staffing, security guard, cannabis, and wholesale accounts, paired with in-house services spanning claims administration, managed care (medical bill review), premium audit, safety and loss control, and Texas non-subscriber claims. It also operates a reinsurance arm (Salus Re) and a pay-as-you-go payroll reporting offering through SmartPay.
Product overview
Method Insurance is a workers' compensation insurance MGA offering an integrated platform combining proprietary insurance products with in-house service capabilities. The core portfolio centers on workers' comp insurance programs (Middle Market, Small Business, Staffing, Security Guard, Cannabis, Pool Depopulation, and Wholesale) backed by six carrier partners, distributed through over 4,000 independent agents nationwide. The service stack is anchored by five in-house capabilities — Claims Administration, Managed Care, Premium Audit, Safety & Loss Control, and Texas Non-Subscriber services — plus a reinsurance arm (Salus Re). Technology-enabled add-ons include SmartPay Payroll Reporting for pay-as-you-go premium billing, an Agency Portal (Nexsure), and a Premium Audit Portal. The company was built through acquisitions including Method Insurance Services (2019), Risk Exchange Insurance Services (2022), and was rebranded from Salus Workers' Compensation to Method in 2022, reaching $170M inforce premium in 2023.
Differentiator
Problem solved
Functional benefit
Products and services
- Middle Market Workers' Compensation Program A broad appetite middle market workers' compensation program offering coverage from $10K minimum premium for mid-sized employers across agriculture, construction, healthcare, manufacturing, and transportation with complex multi-state exposures. Features in-house claims handling, safety, and loss control experts.
- Small Business Workers' Compensation Program Workers' compensation program targeting small businesses from barbershops to laundromats to banks, with $12,500 minimum payroll ($25,000 for construction), A-rated carrier backing, multi-state exposures, and flexible payment including monthly payroll reporting. Available in all non-monopolistic states except RI, NY & ME.
- Staffing Workers' Compensation Program A specialized workers' compensation program for temporary staffing agencies placing workers in healthcare, hospitality, service industry, industrial, and professional sectors. Features $10K minimum premium, no mod limits, new venture eligibility, loss control services, and fast turnaround. Available nationwide.
- Security Guard Workers' Compensation Program An exclusive security guard workers' compensation program offering coverage for armed and unarmed security guards operating in construction sites, office buildings, shopping malls, and cannabis facilities. Features A-rated carriers, challenged placement specialty, and guaranteed cost monoline WC.
- Cannabis Workers' Compensation Program A specialized workers' compensation program for cannabis businesses including grow operations, edibles/beverages manufacturing, dispensaries, wholesale, retail, and testing facilities. No minimum premium, $12,500 minimum payroll, with flexible payment options including monthly payroll reporting.
- Pool Depopulation and Wholesale Program
Quantifiable outcome
- Reporting injuries within 24 hours could reduce claim duration by 20-30%, saving on lost time and improving recovery
- +3 more outcomes
Companies that use Method
Customer profileNamed customers1 record
Segments6 records
Ideal customer profiles6 records
Method technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Method partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and supporting.
- Risk Exchange Insurance Services, Inc.coreAcquired in 2022, Risk Exchange is an MGU and wholesale broker that expanded Method's wholesale capabilities and market access.
- Origami RiskcorePartnership to customize Claims Management platform, automating adherence to Method's proprietary claims protocol with real-time data capabilities.
- Gradient AIcorePartnership with Gradient AI to streamline underwriting processes using artificial intelligence and machine learning capabilities.
- Salus RecoreReinsurance arm formed to share partner risk and capture financial value of superior performance. Provides risk sharing capabilities with carrier partners.
- SmartPaycorePartnership with SmartPay to bring employers flexible options for paying premium based on actual payroll. SmartPay handles payroll reporting, automatic premium calculation, and ACH withdrawal. Annual fees of $339 for vendor reporting or $350 for self-reporting service.
- ConduentsupportingUtilization review services provider for workers' comp claims management. Contact: [email protected] or 863.669.2040.
- Script CaresupportingPharmacy benefit management for workers' comp claims administered by Script Care. Contact: 855.297.8616 or 888.724.5567.
- Pinnacol AssurancecoreCarrier partner providing workers' compensation insurance capacity. One of six carrier partners in Method's network.
- Attune InsurancecoreCarrier partner providing workers' compensation insurance capacity. One of six carrier partners in Method's network.
- Everpeak InsurancecoreCarrier partner providing workers' compensation insurance capacity. One of six carrier partners in Method's network.
- Cake InsurecoreCarrier partner providing workers' compensation insurance capacity. One of six carrier partners in Method's network.
- Six Carrier PartnerscoreMethod works with six carrier partners providing capacity for workers' comp programs across all non-monopolistic states. Carrier partners include Pinnacol, Attune, Everpeak, and Cake among others.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
Method competitors and assessment
Company assessmentDirect peers
- Amwins: Amwins is the largest US wholesale specialty insurance distributor and MGA, operating across many lines including workers' comp. Comparable as an MGA/wholesale distribution platform that builds proprietary products on carrier paper, though broader than Method line-wise.
- NEXT Insurance: NEXT is a digital-native MGA offering small business commercial insurance including workers' comp, distributing direct-to-customer online rather than through agents. Comparable in product mix and target segment to Method's small business program.
- Employers Holdings (EIG): Employers is a publicly traded specialty workers' compensation carrier focused on small businesses — a pure-play counterpart to Method in terms of line and target segment, though structured as a carrier rather than an MGA.
- Pie Insurance: Pie Insurance is a tech-enabled workers' compensation MGA targeting small and mid-sized employers with a digital quote-bind-issue experience, very similar product focus and end customers as Method's small business and middle market programs.
- Zenith Insurance: Zenith is a specialty workers' compensation carrier concentrated in agriculture, construction, and other hard-to-place industries, with agent distribution. Overlaps with Method's middle market and staffing/security niches in product and go-to-market.
- Berkshire Hathaway GUARD Insurance: GUARD Insurance is a Berkshire-owned specialty carrier writing workers' comp, commercial auto, and other lines for small and mid-sized accounts. Direct comparable in workers' comp focus, appetite breadth, and small/middle market orientation.
- Ryan Specialty (RPS): Ryan Specialty is a specialty insurance distribution firm combining wholesale brokerage, binding authority, and MGA capabilities across many lines. Directly comparable on the MGA/wholesale distribution business model that Method uses through Risk Exchange.
Emerging players
- Hiscox: Hiscox is a specialty insurer using digital distribution, delegated authority, and program-based MGA structures to serve small commercial accounts, including some workers' comp. Comparable go-to-market architecture — specialty appetite, partner-paper MGA model, agent/digital hybrid — though with broader lines than Method's pure workers' comp focus.
Broad incumbents
- AmTrust Financial Services: AmTrust is a large multinational specialty P&C insurer with a substantial workers' comp franchise written through agencies. A broader incumbent competitor in the same line with more diversified product mix than Method.
- The Hartford: The Hartford is a large P&C and group benefits carrier with a sizable workers' comp book sold through independent agents. Comparable as a workers' comp writer on the same agency channel as Method, though vastly larger and diversified across many lines.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Method social profiles
Digital presenceMethod financial estimates
Financial estimateRevenue estimate
Valuation estimate
Method leadership team
Management profileNumber of profiles
Profiles3 records
Method subsidiaries and ownership
Company hierarchySubsidiaries6 records
Method funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Method M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Method
What does Method do?
Method Insurance is a workers' compensation Managing General Agent (MGA) that underwrites and services workers' comp insurance programs through a network of over 4,000 independent agents across all non-monopolistic U.S. states, backed by six carrier partners. The company offers exclusive programs for middle market, small business, staffing, security guard, cannabis, and wholesale accounts, paired with in-house services spanning claims administration, managed care (medical bill review), premium audit, safety and loss control, and Texas non-subscriber claims. It also operates a reinsurance arm (Salus Re) and a pay-as-you-go payroll reporting offering through SmartPay.
Is Method a public or private company?
Method is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Method founded?
Method was founded in 2014. It employs 51 to 100 people.
Where is Method based?
Method is headquartered in Omaha, United States, in the North America region.
How does Method make money?
Two revenue lines are on record. Workers' Compensation Insurance Premiums are the primary driver. The others are payroll Reporting Services.
Who are Method's main competitors?
Direct peers on record are Amwins, NEXT Insurance, Employers Holdings (EIG), Pie Insurance, Zenith Insurance, Berkshire Hathaway GUARD Insurance and Ryan Specialty (RPS). Hiscox is listed as an emerging player. Broad incumbents are AmTrust Financial Services and The Hartford.
Does Method have an API?
No public API is recorded for Method.
What industry is Method in?
Method's product category is Workers' Compensation Insurance. Its primary akta.pro industry code is FSAEADAK, Insurance Program Administration & MGA/MGU Services, with a secondary code of FSAJAEAG, Workers’ Compensation for Small Business & Pay-As-You-Go Programs. Its NAICS code is 52421 and its SIC code is 6411.