Smith Brothers Insurance

Name

Smith Brothers Insurance

Legal name

Smith Brothers Insurance, LLC

Website

https://smithbrothersusa.com

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

Keywords

• Commercial insurance brokerage
• Employee benefits consulting
• Surety and bonding services
• Personal insurance coverage
• Enterprise risk management

Headquarters

HQ city

Glastonbury

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: Smith Brothers Insurance earns commissions from insurance carriers for placing business with them. This is the primary component of their revenue. Commission may be part of the premium quoted. They represent multiple insurance and financial service companies. Additional commission or compensation comes from carriers for joint advertising efforts, training, professional development, and growth and profitability of their overall book of business. Profit sharing arrangements range from 0% to 4% of written premium depending on the carrier.
2. Fee-Based Services: In some instances, Smith Brothers collects a fee for services rather than commission, but not both on the same policy. They do not charge clients a fee and collect commission from the carrier on the same policy.
3. Consulting and Advisory Services: Revenue generated from risk management consulting services including contract lease review, HR guidance, premium allocations, loss control, certificate review, claims monitoring, experience mod watch, bid specification review, and financial underwriting. These services are bundled with their insurance offerings as part of their comprehensive risk management approach.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Smith Brothers Insurance is an independently operated Top 100 insurance and risk management broker that places commercial insurance, personal insurance, employee benefits, surety and bonding, and private client coverages on behalf of clients, accessing the complete marketplace of carriers. The firm delivers consultative risk advisory, claims advocacy, and total asset protection across more than 14 industry verticals as well as for individuals and high net worth families.

Product overview

Smith Brothers Insurance is an independently operated Top 100 Risk Management and Insurance Broker offering a comprehensive suite of insurance and risk management products. Their core offerings include Commercial Insurance (property, liability, fleet auto, workers' comp, cyber liability), Employee Benefits (medical, dental, vision, retirement), Surety & Bonding (contract bonds, performance bonds), Personal Insurance (auto, home, life, Medicare), Private Client Group (high net worth solutions), Financial Services (personal and business financial planning), and Student Health Desk (student medical/dental insurance). Supporting specialized offerings include Healthcare Practice Insurance, Swim Club Insurance Program, and Zywave Client Portal for HR/compliance tools. The company serves 14 industry verticals and operates across 4 states with 27 agencies.

Differentiator

Problem solved

Functional benefit

Brands

• GreenTree Risk Management: Risk management subsidiary providing integrated business solutions to clients
• Smith Brothers Private Client Group
• Smith Brothers Financial
• The Swim Club Insurance Program

Products and services

• Commercial Insurance Enterprise risk management and commercial insurance brokerage for businesses, covering property, liability, fleet auto, umbrella, flood, workers' compensation, cyber liability, professional liability, and specialty lines.
• Employee Benefits Comprehensive employee benefits brokerage for employers, including group medical, dental, vision, life insurance, disability, HSA, FSA, 401(k), voluntary benefits, and wellness programs.
• Surety and Bonding Surety bonding brokerage covering contract bonds, bid bonds, performance bonds, labor and material payment bonds, license and permit bonds, commercial bonds, and court bonds for construction and commercial clients.
• Personal Insurance Personal insurance brokerage for individuals and families, covering auto, homeowners, umbrella, life, disability, and Medicare solutions.
• Private Client Group Specialized risk management and insurance brokerage for high net worth individuals and families, providing tailored coverage for high-value homes, autos, jewelry, art, umbrella liability, international assets, and luxury holdings.
• Financial Services Financial planning and advisory services delivered through Smith Brothers Financial, LLC, including personal solutions (life, disability, long-term care, legacy planning), business solutions (succession planning, key person insurance), and retirement plans.
• Student Health Desk Student medical, dental, and sports accident insurance brokerage for K-12 schools, colleges, and universities, including coverage for international students and study-abroad programs.
• Healthcare Practice Insurance Specialty insurance brokerage for healthcare providers, including medical malpractice, directors and officers, employment practices liability, cyber liability, billing errors, and network security coverage.
• Swim Club Insurance Program Exclusive insurance program for non-profit and for-profit swim clubs, covering general liability, crime, sexual abuse liability, equipment, umbrella liability, workers' compensation, and D&O liability.

Quantifiable outcome

• Smith Brothers serves over 1,000 architectural, engineering, and environmental consulting firms
• +3 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Partners&coreStrategic or Co-development Partner · 10 July 2024Smith Brothers Insurance and Partners& announced a transatlantic partnership to serve high net worth clients with homes and assets in multiple countries. The partnership addresses the complexity of estate and asset protection across borders, closing gaps in coverage that can leave clients exposed. Partners& provides UK-based private client expertise while Smith Brothers provides US coverage, ensuring clients have world-class protection regardless of geography.
• ChubbcoreStrategic or Co-development PartnerChubb is the world's largest publicly traded P&C insurance company and largest commercial insurer in the U.S. Smith Brothers Insurance's Private Client Group was recognized as a 2024 Chubb Cornerstone Personal Risk Services Producer, an elite designation awarded to top-performing agents and brokers. Chubb operates in 54 countries providing commercial and personal property and casualty insurance.
• ZywavecoreTechnology or IntegrationZywave provides a comprehensive client portal used by Smith Brothers to deliver compliance tools, HR resources, risk management content, learning management systems, OSHA log tracking, and employee handbook builders to their clients. The portal offers searchable content libraries, over 160 online training courses, and direct HR hotline access.
• LIO (Swim Club Insurance Program)minorChannel Partner/ Reseller/ DistributorSmith Brothers Insurance is the exclusive provider of The Swim Club Insurance Program, administered through their carrier partner LIO. The program covers non-profit and for-profit swim clubs, year-round and indoor swimming facilities in all states. All insurance companies in the program are A-rated by A.M. Best.
• Wellfleet (Student Health)coreChannel Partner/ Reseller/ DistributorWellfleet is the student health insurance provider for the University of Connecticut student health program administered by Smith Brothers Insurance.
• Morgan White Group (Dental)minorChannel Partner/ Reseller/ DistributorMorgan White Group provides dental insurance for the University of Connecticut student dental plan administered by Smith Brothers Insurance.
• Cigna OAP (Behavioral and Non-Behavioral Health)minorChannel Partner/ Reseller/ DistributorCigna OAP provides behavioral and non-behavioral health coverage options for UConn student health plans administered by Smith Brothers Insurance.
• Coverys (Malpractice Insurance)coreChannel Partner/ Reseller/ DistributorCoverys is the sixth largest medical liability insurance carrier in the country. Smith Brothers Insurance administers the Professional Risk Strategies Purchasing Group (PRSPG), providing malpractice coverage through Coverys specifically designed for orthopedic surgeons, both solo and group practices. Members can save 15%-30% or more on malpractice insurance premiums.
• NAS Insurance Services (Medical Billing Errors & Omissions)minorChannel Partner/ Reseller/ DistributorNAS Insurance Services is a nationwide leader in specialty insurance for the healthcare industry. Smith Brothers offers their MEDEFENSE Plus (defense against billing errors and medical regulatory violations) and e-MD (network security and privacy coverage) products to New England physicians and surgeons.
• Professional Risk Strategies Purchasing Group (PRSPG)coreChannel Partner/ Reseller/ DistributorAdministered by Smith Brothers Insurance, PRSPG is a purchasing group for orthopedic surgeons offering collectively bargained malpractice insurance coverage through Coverys. It provides risk management programs specific to orthopedics and rewards good loss experience. Surgeons can save 15%-30% or more on malpractice insurance premiums.
• Numerous Insurance Carrier Partners (Claims & Billing)coreChannel Partner/ Reseller/ DistributorSmith Brothers maintains relationships with a wide range of insurance carriers for claims and billing services, including but not limited to: Acadia Insurance, AIG, American Modern, Arbella, Berkshire Hathaway GUARD, Chubb, Cincinnati Insurance, CNA, EMC Insurance, Hanover, Liberty Mutual, Markel, MEMIC, MetLife, Nationwide, Philadelphia Insurance, Plymouth Rock, Progressive, PURE Insurance, QBE, Selective, State Auto, The Hartford, Travelers, Utica National, Vermont Mutual, and Zurich. These carrier relationships enable Smith Brothers to service claims and billing for clients across their entire client base.
• NAHGA (K-12 Student Accident Claims)minorChannel Partner/ Reseller/ DistributorNAHGA handles claims filing for K-12 student accident insurance programs administered by Smith Brothers Insurance across multiple school districts in Connecticut.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Brown & Riding Insurance Services: Brown & Riding is a specialty insurance wholesaler and broker with strong construction, healthcare, and A&E practice expertise. Its specialty-line focus and placement-driven model overlap meaningfully with Smith Brothers' vertical practices.
• USI Insurance Services: USI is a Top 10 U.S. insurance brokerage serving commercial, personal, and employee benefits clients across a multi-state footprint. Its broad product mix, mid-market and enterprise focus, and consultative model closely parallel Smith Brothers' positioning.
• The Hilb Group: The Hilb Group is a mid-Atlantic-anchored insurance broker that has scaled via a rollup of regional agencies. Its multi-state U.S. footprint, M&A strategy, and product breadth mirror Smith Brothers' approach to growth.
• Acrisure: Acrisure is one of the largest independent insurance brokers in the U.S., with a strong footprint in commercial P&C, employee benefits, and personal lines. Like Smith Brothers, it operates as a tech-enabled aggregator pursuing a rollup of regional agencies, making it a direct comparable in business model and growth strategy.
• Hub International: Hub International is a leading North American insurance brokerage offering commercial, personal, employee benefits, and risk management services. Its multi-state U.S. operations and M&A-driven growth are highly comparable to Smith Brothers.
• Conner Strong & Buckelew: Conner Strong & Buckelew is a top U.S. insurance brokerage with a strong Northeast presence, offering commercial, personal, employee benefits, and surety. Its regional focus and product mix closely match Smith Brothers' Northeast-centric model.
• Frenkel & Company: Frenkel is a large independent insurance broker providing commercial, personal, and benefits solutions with significant U.S. and international reach. Its independent-broker model and service breadth make it a relevant comparable.

Broad incumbents

• Marsh McLennan: Marsh is the world's largest insurance broker and a major risk management consulting firm. As a global incumbent, it competes for the same enterprise and HNW clients Smith Brothers targets, but with a far broader portfolio and global scale.
• Arthur J. Gallagher & Co. Gallagher is a global, publicly traded insurance brokerage and risk management firm with deep U.S. commercial P&C and benefits capabilities. It is a broad incumbent whose mid-market segment directly overlaps with Smith Brothers' core business.

Regional players

• Loomis & LaPann Insurance: Loomis & LaPann is a New York and Vermont-based independent insurance agency with strong carrier relationships and a focus on commercial and personal lines. As a fellow Northeast-focused independent agency, it competes for similar regional clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SmithBrothersInsurance
• LinkedInlinkedin.com/company/smith-brothers-insurance
• Instagraminstagram.com/smithbrosins

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A7 records

Investments

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

Frequently asked questions about Smith Brothers Insurance