Summit Consulting

Name

Summit Consulting

Legal name

Summit Consulting LLC

Website

https://summitholdings.com

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Employee Benefits Brokerage & Consulting (FSAEADAC)

akta.pro secondary industry

Captive Insurance Advisory & Management (FSAEADAF)

Keywords

• Workers compensation insurance
• Insurance underwriting services
• Claims management services
• Loss prevention consulting
• Premium audit services

Headquarters

HQ city

Lakeland

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Workers' Compensation Insurance Premiums: Summit generates revenue as a managing general agent managing workers' compensation insurance policies. The company administers insurance policies for a family of carriers including Bridgefield Casualty, Bridgefield Employers, Bridgefield Indemnity, BusinessFirst, RetailFirst, and Retailers Casualty Insurance Companies. Revenue is derived from premium payments on workers' compensation policies.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Summit Consulting LLC is a workers' compensation insurance managing general agent that underwrites and manages policies through a family of A-rated carriers (Bridgefield Casualty, Bridgefield Employers, Bridgefield Indemnity, BusinessFirst, RetailFirst, and Retailers Casualty Insurance Companies). The company offers four plan structures (Guaranteed Cost, Incurred Loss Retrospective, Paid Loss Retrospective, and Large Deductible) and provides in-house claims management, medical oversight, safety/loss prevention consulting, premium audit, and actuarial services. All products and services are distributed exclusively through a network of 7,000+ independent insurance agents across 17 states.

Product overview

Summit Consulting LLC (DBA Summit) is a workers' compensation insurance managing general agent that operates as a single-platform, multi-carrier insurance solution rather than a modular software product. The core offering consists of workers' compensation insurance delivered through a family of 'A'-rated carriers including the Bridgefield family (Bridgefield Casualty, Bridgefield Employers, Bridgefield Indemnity - all rated A+ Superior), RetailFirst Insurance Company, BusinessFirst Insurance Company (both rated A- Excellent), and Retailers Casualty Insurance Company. Summit provides four distinct insurance plan structures: the Guaranteed Cost Plan (fixed premium), Incurred Loss Retrospective Plan (loss-adjusted with caps), Paid Loss Retrospective Plan (pay-as-you-go claims funding), and Large Deductible Plan (for large accounts with $500K+ standard premium). These are supported by integrated in-house services including medical claims management (using the Facility Assessment Tool and Provider Scoring Tool for data-driven facility and provider selection), safety consulting with the Back2work return-to-work program, premium audit services, and actuarial analysis. The company also wholly owns Heritage Summit HealthCare LLC, a managed care services subsidiary. All services are delivered through regional field teams and in-house specialists rather than outsourced third parties.

Differentiator

Problem solved

Functional benefit

Brands

• Back2work: Summit's return-to-work program that helps policyholders develop plans for injured employees to return to employment
• WriteNow
• The Summit Advantage
• COMPInsiders
• RetailFirst Insurance Group

Products and services

• Guaranteed Cost Plan A fixed-premium workers' compensation insurance plan where the premium remains constant throughout the policy period regardless of claims experience. Premium equals Payroll multiplied by Classification Rate. The carrier assumes all risk and administrative burden. Best for businesses prioritizing budget certainty. Billed annually.
• Incurred Loss Retrospective Plan A workers' compensation plan that adjusts premium based on incurred losses (paid claims and reserves) at 6, 18, and 30 months after policy expiration, with minimum and maximum premium caps. Rewards policyholders with favorable loss experience with potential return of premium. Structured as a multi-year contract.
• Paid Loss Retrospective Plan A pay-as-you-go workers' compensation plan where premium is based on actual paid losses rather than incurred losses. Policyholders pay a smaller up-front premium and fund claims as they occur, with no time limit on the evaluation period. Requires claims fund and financial security.
• Large Deductible Plan A workers' compensation plan allowing policyholders to take on large per-claim deductibles (starting at $100,000) for very large accounts with minimum $500,000 standard premium. Policyholder funds losses below threshold while carrier covers above. Available in incurred and paid loss structures.
• Back2work Return-to-Work Program Summit's return-to-work program that helps policyholders develop plans to facilitate injured employees' return to employment. Part of the broader safety and loss prevention services offered to workers' compensation policyholders.
• Safety Consulting Services Loss prevention consulting services including safety assessments, industry-specific training, drug-free workplace program development, and analysis of company losses to identify trends and corrective actions. Provided by field-based loss prevention consultants.
• In-House Medical Claims Management Comprehensive medical claims management using in-house registered nurses, licensed physicians, and medical directors who collaborate with claims adjusters to optimize care and costs. Leverages the Facility Assessment Tool and Provider Scoring Tool for data-driven facility and provider selection, generating 67% average savings on medical invoices.
• Premium Audit Services In-house premium audit services conducted by dedicated auditors who understand workers' comp nuances, with over 90% of audits performed by Summit employees rather than third parties. Supports accurate premium calculations and policyholder relationships.
• Actuarial Analysis Services Internal actuarial department providing data analysis tools, statistical reporting (400+ reports annually), and predictive analytics to support underwriting, claims management, and financial forecasting. Underpins the company's 92.7% policy retention rate and AM Best A+ financial strength ratings.

Quantifiable outcome

• 30% fewer open claims than industry average at 18 months post-accident
• +6 more outcomes

Named customers4 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

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and major.

• Bridgefield Casualty Insurance CompanycoreStrategic or Co-development PartnerSummit affiliate providing workers' compensation coverage in Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Rated A+ (Superior) by AM Best.
• Bridgefield Employers Insurance CompanycoreStrategic or Co-development PartnerSummit affiliate providing workers' compensation coverage in Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Rated A+ (Superior) by AM Best.
• Bridgefield Indemnity Insurance CompanycoreStrategic or Co-development PartnerSummit affiliate providing workers' compensation coverage in Alabama, Arkansas, Georgia, Illinois, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Rated A+ (Superior) by AM Best.
• BusinessFirst Insurance CompanymajorStrategic or Co-development PartnerFlorida-domiciled property and casualty insurance company authorized in Florida, Georgia, Indiana, Kentucky, North Carolina, South Carolina, Tennessee, and Virginia. Rated A- (Excellent) by AM Best.
• RetailFirst Insurance CompanymajorStrategic or Co-development PartnerFlorida-domiciled property and casualty insurance company authorized in Florida. Rated A- (Excellent) by AM Best.
• Retailers Casualty Insurance CompanymajorStrategic or Co-development PartnerLouisiana-domiciled property and casualty insurance company authorized in Alabama, Arkansas, Louisiana, Mississippi, Oklahoma, and Texas.
• Heritage Summit HealthCare LLCcoreStrategic or Co-development PartnerSummit-owned subsidiary providing managed care services for the above insurers, including the in-house medical team of registered nurses and physicians.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Builders Mutual Insurance Company: Builders Mutual is a workers' compensation specialist concentrated in construction-class business, the same high-hazard vertical where Summit derives 41% of in-force premium. Its construction-focused monoline model is closely comparable.
• Employers Holdings: Employers Holdings is a monoline workers' compensation insurer focused on small business, distributed through independent agents. Summit's monoline MGA model, agent channel, and small-business emphasis are directly comparable to Employers' core operating model.
• Texas Mutual Insurance Company: Texas Mutual is the largest state-funded workers' compensation insurer in Texas and competes for similar small-to-mid-market employer accounts. While Texas-only, its monoline WC specialist strategy mirrors Summit's playbook.
• AmTrust Financial Services: AmTrust is one of the largest workers' compensation insurers and MGAs in the U.S., writing small and mid-market WC through wholesale and retail channels. Like Summit, it leverages an MGA structure with specialty appetite for small business and higher-hazard classes.
• Accident Fund Holdings: Accident Fund is a workers' compensation specialty carrier (owned by AF Group) selling through independent agents across multiple states. Its multi-state MGA-style operations and monoline WC focus parallel Summit's structure.

Broad incumbents

• The Hartford Financial Services Group: The Hartford is a major national carrier with a sizable workers' compensation book sold through independent agents. It overlaps with Summit on distribution channel and target customer (small/mid-market employers) but operates across many lines rather than as a monoline specialist.
• Travelers Companies: Travelers is a top-5 national P&C carrier with a substantial workers' compensation line distributed through independent agents. It competes for the same mid-market employer accounts but is a multi-line, multi-peril incumbent rather than a monoline specialist.
• Zurich North America: Zurich writes workers' compensation for mid-market and large accounts through brokers and agents. While broader in scope, it overlaps with Summit on construction and mid-market employer segments.
• Berkshire Hathaway Homestate Companies: BHHC is a Berkshire-owned group of workers' compensation insurers operating in multiple states through independent agents. It is comparable in monoline WC focus but with the financial backing and scale of Berkshire Hathaway.

Others

• Sedgwick (managed care / claims management): Sedgwick is a major third-party administrator and managed care services provider for workers' compensation. Summit's in-house Heritage Summit HealthCare subsidiary competes with Sedgwick's outsourced medical management offerings in the WC value chain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Summit Consulting