Tricor Insurance

What Tricor Insurance does

Tricor Insurance is a privately held independent insurance agency headquartered in Lancaster, Wisconsin, operating 43 physical office locations across Wisconsin, Iowa, Illinois, Michigan, and Pennsylvania. The agency distributes personal lines (auto, home, health, renters, life, recreational vehicles, umbrella) and commercial lines (general business, contractor/construction, manufacturing, transportation, healthcare, agribusiness, public entity) by accessing multiple insurance carriers on behalf of clients rather than underwriting policies itself. Its distribution model is built on licensed local agents embedded in their communities, supported by a digital layer comprising an online account portal and an iOS/Android mobile application built on the Applied Systems mobile insured platform.

Revenue is generated through carrier commissions on policies placed, priced on a quote-based, monthly-billed structure that varies by risk profile and coverage. Customer segments span individuals, families, and small-to-mid-sized businesses, with industry-specific verticals layered on top. Supporting services include claims advocacy and consulting, risk management, safety consulting, and employee benefits advisory.

Since 2021 Tricor has scaled through a deliberate M&A and roll-up strategy, anchored by a strategic investment from J.C. Flowers & Co. that preserved CEO Dave Fritz's ownership and existing management. Acquired and integrated brands include J.A. Hinke & Company (founded 2009), Miller & Fidler Insurance Agency (2011), Vibrant Insurance Group, Erickson Kearney & Associates (2018), Don-Rick Insurance, and Harms Insurance Group (2022). The company is recognized as a 2025 Top Retail Insurance Broker by Insurance Business America and holds 2025 Great Place To Work certification.

Name

Tricor Insurance

Legal name

TRICOR Insurance

Website

https://tricorinsurance.com

Company type

Private

Founded year

1945

Operating status

Operating

Headcount range

251–500 employees

Short description

Tricor Insurance is a privately held independent insurance agency based in Lancaster, Wisconsin, distributing personal and commercial insurance through 43 offices across the Midwest via licensed local agents and a carrier-agnostic brokerage model.

Ownership category

akta.pro rank

Product category

Independent Insurance Brokerage Services

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Personal Auto Insurance (FSAJAMAA)

akta.pro secondary industries

General Liability Insurance (FSAJAMAE), Nonprofit / Social Services BOP (FSAJAFAM), Hybrid Life + LTC (Linked-Benefit) Insurance (FSAIAJAB)

Keywords

• Independent insurance agency
• Commercial property casualty
• Personal insurance products
• Employee benefits advisory
• Risk management services

Headquarters

HQ city

Lancaster

HQ country

United States

HQ region

North America

Offices43 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 Commissions: As an independent insurance agency, TRICOR earns commissions from insurance carriers for placing policies. Revenue comes from both personal lines (auto, home, life, health) and commercial lines (business insurance, employee benefits).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Tricor Insurance is an independent insurance agency that places personal and commercial insurance policies with multiple carriers on behalf of its clients. Core offerings include personal lines (auto, home, health, renters, life) and business lines (general business, contractor/construction, manufacturing, transportation, healthcare), supplemented by risk management, safety consulting, claims advocacy, and employee benefits advisory services delivered through 43 branch offices across the Midwest.

Product overview

Tricor Insurance is an independent insurance agency offering a comprehensive portfolio of personal and commercial insurance products along with specialized risk management services. The company provides personal insurance lines (auto, home, health, renters, life) and business insurance solutions (general business, contractor/construction, manufacturing, transportation, healthcare) as core products. Supporting services include claims advocacy and consulting, risk management with regulatory compliance consulting, safety consulting, and employee benefits advisory. The company operates a digital platform comprising a mobile app (available for iOS and Android) and online account management services. The TRICOR Cycle of Care methodology underpins their client service approach, emphasizing discover, fit, and ongoing communication.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Insurance Insurance coverage for individuals and families, including auto, home, health, renters, and life insurance products placed through multiple carriers by licensed local agents.
• Business Insurance Commercial insurance solutions covering general business, contractor/construction, manufacturing, transportation, and healthcare sectors, placed with multiple carriers based on each client's industry-specific risk profile.
• Claims Advocacy and Consulting Expert claims advocacy services helping clients navigate the insurance claims process with carriers for prompt resolution, with 24/7 claims reporting availability.
• Risk Management Comprehensive risk management services including regulatory compliance consulting, audit services, and inspection services to help businesses identify and mitigate operational risks.
• Safety Consulting Professionally trained safety consultants who develop industry-specific safety programs and help businesses plan for risk prevention and workplace safety.
• Employee Benefits Employee benefits advisory services including group benefits, voluntary benefits, dental, vision, FSA, HRA, HSA, life, accident, disability, and wellness programs for employers of all sizes.
• TRICOR Mobile App Mobile application for iOS and Android enabling policy access, claims submission, agent communication, and auto ID card access for existing Tricor customers.
• Online Account Management Services Web-based account management portal allowing clients to access policies, manage coverage, view documents, request changes, pay bills, and access auto ID cards online.

Quantifiable outcome

• 24/7 claims reporting availability
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Vibrant Insurance GroupcoreStrategic or Co-development PartnerMerged with J.A. Hinke & Company in 2011 to form Vibrant Insurance Group, which was later acquired by TRICOR. Key leadership including Joey Hinke (President, West Region) and Patrick Kearney (Business and Personal Insurance Specialist) came through this combination.
• Don-Rick InsurancecoreStrategic or Co-development PartnerSarah Lewison works as a health and life insurance agent at Don-Rick Insurance in their Baraboo office. The agency operates as part of TRICOR Insurance's network.
• Harms Insurance GroupcoreStrategic or Co-development PartnerMerged with TRICOR Insurance in 2022. Formerly serving the Lake Mills area, the merger expanded TRICOR's presence in Jefferson County, Wisconsin.

Scale indicators2 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Arthur J. Gallagher & Co. Gallagher is a global publicly traded insurance brokerage and risk management firm with deep Midwest operations, competing for the same mid-market commercial and benefits clients Tricor serves.
• Brown & Brown: Brown & Brown is a large publicly traded insurance broker with national reach across personal and commercial lines; it represents an incumbent competitor and a potential acquirer profile for a top-performing regional broker like Tricor.
• Lockton Companies: Lockton is the world's largest privately held insurance brokerage, offering commercial, benefits, and risk management services that overlap with Tricor's mid-to-large business and employee benefits segments.

Direct peers

• AssuredPartners: AssuredPartners is a PE-backed national insurance brokerage that has grown aggressively by acquiring regional agencies, many in the Midwest, directly competing with Tricor for acquisition targets and producer talent.
• Leavitt Group: Leavitt Group is a privately held, employee-owned independent insurance agency network with a similar multi-state, multi-line (personal, commercial, benefits) proposition and a comparable Midwest/Western footprint.
• Cottingham & Butler: Cottingham & Butler is a large privately held insurance brokerage headquartered in the upper Midwest (Wisconsin), competing directly with Tricor for commercial accounts, producer talent, and acquisition targets in the same geography.
• Hub International: Hub International is a large PE-backed insurance brokerage with significant Midwest presence offering personal, commercial, and benefits products through an independent-agency distribution model closely mirroring Tricor's go-to-market.
• USI Insurance Services: USI is a PE-backed national insurance brokerage that combines property/casualty, employee benefits, and specialty consulting — directly overlapping Tricor's full product suite while operating at materially larger scale.
• Acrisure: Acrisure is one of the largest PE-backed independent insurance brokers in the U.S., built primarily through acquisition and spanning personal, commercial, and benefits lines — the same model Tricor is executing at a regional Midwest scale.
• M3 Insurance: M3 Insurance is a Wisconsin-based independent insurance brokerage offering commercial, personal, employee benefits, and risk management services — a near-clone competitor serving the same Wisconsin and broader Midwest market as Tricor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/tricorinsurance
• LinkedInlinkedin.com/company/tricor

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles27 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

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 Tricor Insurance