Summit Consulting
- Company typePrivate
- Founded1977
- HeadquartersLakeland, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
Summit Consulting firmographics
Firmographics- 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
Summit Consulting industry classification
Industry- 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
Where Summit Consulting is headquartered
LocationHeadquarters
- HQ city
- Lakeland
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Summit Consulting business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- 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
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Guaranteed Cost Plan - Fixed premium with no adjustments for losses |
| Outcome Based/ Performance | Multi-year contract | Incurred Loss Retrospective Plan - Premium adjusted based on incurred losses |
| Usage-based | Pay-as-you-go | Paid Loss Retrospective Plan - Pay-as-you-go claims costs |
| Outcome Based/ Performance | Multi-year contract | Large Deductible Plan - Minimum $500,000 standard premium |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Summit Consulting product offering
Product offeringCore 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
Companies that use Summit Consulting
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Summit Consulting technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Summit Consulting partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and major.
- Bridgefield Casualty Insurance CompanycoreSummit 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 CompanycoreSummit 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 CompanycoreSummit 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 CompanymajorFlorida-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 CompanymajorFlorida-domiciled property and casualty insurance company authorized in Florida. Rated A- (Excellent) by AM Best.
- Retailers Casualty Insurance CompanymajorLouisiana-domiciled property and casualty insurance company authorized in Alabama, Arkansas, Louisiana, Mississippi, Oklahoma, and Texas.
- Heritage Summit HealthCare LLCcoreSummit-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
Summit Consulting competitors and assessment
Company assessmentDirect 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
Summit Consulting financial estimates
Financial estimateRevenue estimate
Valuation estimate
Summit Consulting leadership team
Management profileNumber of profiles
Profiles15 records
Summit Consulting subsidiaries and ownership
Company hierarchySubsidiaries4 records
Summit Consulting funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Summit Consulting M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Summit Consulting
What does Summit Consulting do?
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.
Is Summit Consulting a public or private company?
Summit Consulting is a private company. It is classified as corporate owned and is currently operating.
When was Summit Consulting founded?
Summit Consulting was founded in 1977. It employs 501 to 1,000 people.
Where is Summit Consulting based?
Summit Consulting is headquartered in Lakeland, United States, in the North America region.
How does Summit Consulting make money?
One revenue line is on record: workers' Compensation Insurance Premiums.
Who are Summit Consulting's main competitors?
Direct peers on record are Builders Mutual Insurance Company, Employers Holdings, Texas Mutual Insurance Company, AmTrust Financial Services and Accident Fund Holdings. Broad incumbents are The Hartford Financial Services Group, Travelers Companies, Zurich North America and Berkshire Hathaway Homestate Companies. Sedgwick (managed care / claims management) is listed as an others.
Does Summit Consulting have an API?
No public API is recorded for Summit Consulting.
What industry is Summit Consulting in?
Summit Consulting's product category is Workers' Compensation Insurance. Its primary akta.pro industry code is FSAEADAC, Employee Benefits Brokerage & Consulting, with a secondary code of FSAEADAF, Captive Insurance Advisory & Management. Its NAICS code is 52421 and its SIC code is 6411.