Conner Strong & Buckelew

What Conner Strong & Buckelew does

Conner Strong & Buckelew is a privately held insurance brokerage, employee benefits, and risk management consulting firm founded in 1959 and headquartered in Camden, New Jersey. The firm operates eight East Coast offices across New Jersey, New York, Massachusetts, Delaware, and Florida, and extends its reach internationally through a partnership with Globex International covering more than 130 countries. It serves middle-market and enterprise clients across ten vertical markets, including construction, healthcare, higher education, life sciences, manufacturing, nonprofit, public sector, real estate, and technology. Employee benefits accounts for approximately 40% of revenue, and the firm reports placing and managing roughly $3 billion in annual premiums as of 2022, ranking it among the top 13 U.S. brokerages by size.

The firm's core offerings include commercial insurance brokerage, employee benefits administration, captive insurance strategy, and risk management consulting, supported by proprietary benefits-administration platforms (BeneFuture, BeneNet, and BeneView) and an M&A Partnership Program for agency acquisitions. Revenue is generated through commissions on premiums placed, fees for advisory and consulting services, and captive management services delivered through subsidiaries including PERMA (a public-sector risk pool serving more than 100,000 public employees), J.A. Montgomery, AIM, Conner Strong Captive Strategies, Capital Management Enterprises, Armstrong Doyle & Carroll, and Daniel P. Keenan Insurance. The firm has been a member of BroadStreet Partners since 2021 and is a founding member of BrokerTech Ventures.

The firm reports 98% client retention, 97% employee retention, and a Net Promoter Score of 92, indicators of operational stability and client satisfaction uncommon in the brokerage industry. Leadership includes Michael Tiagwad as Executive Chairman and CEO, George E. Norcross III as Chairman, and Susan D. Hudson as Chairwoman. Recent strategic activity has combined organic product launches (such as the November 2025 Product Shortage PLUS Endorsement for cell and gene therapy) with a sustained inorganic growth cadence across acquisitions in 2020 and 2022. A New Jersey Office of the State Comptroller investigation concerning PERMA-related public-sector contracting represents a material reputational and revenue risk warranting monitoring.

Name

Conner Strong & Buckelew

Legal name

Conner Strong & Buckelew

Website

https://connerstrong.com

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Conner Strong & Buckelew is a privately held insurance brokerage, employee benefits, and risk management firm founded in 1959, headquartered in Camden, NJ, serving middle-market and enterprise clients across ten verticals from eight East Coast offices with international reach via the Globex network.

Ownership category

akta.pro rank

Product category

Insurance Brokerage & Risk Management Consulting

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Employee Benefits Brokerage & Consulting (FSAEADAC)

akta.pro secondary industry

Private Client/High-Net-Worth Advisory (FSAEAAAN)

Keywords

• Commercial insurance brokerage
• Employee benefits consulting
• Risk management services
• Captive insurance solutions
• Claims advocacy consulting

Headquarters

HQ city

Camden

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage and Commissions: Traditional insurance brokerage earning commissions on property & casualty and employee benefits insurance policies placed with carriers. The firm serves as intermediary between clients and insurance carriers, earning commissions typically ranging from 5-15% of premiums depending on line of business and volume.
2. Employee Benefits Services: Employee benefits consulting and administration services including benefits automation, compliance, pharmacy management, data analytics, and wellness programs. Accounts for approximately 40% of company revenue.
3. Risk Management Consulting: Consulting fees for specialized risk management services including captive insurance, enterprise risk management, safety consulting, claims advocacy, and M&A advisory services.
4. Premium Volume: Company places and manages approximately $3 billion in insurance premiums annually, with commissions and fees derived from this premium volume.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels9 records

Core offering

Conner Strong & Buckelew is an insurance brokerage, employee benefits, and risk management consulting firm that places commercial property & casualty and employee benefits insurance with carriers on behalf of clients, while providing integrated consulting services including risk management, claims advocacy, captive insurance solutions, cyber risk, employee benefits administration, and specialty services. The firm places and manages approximately $3 billion in premiums annually across ten industry verticals, earning commissions and consulting fees from intermediating between clients and insurance carriers.

Product overview

Conner Strong & Buckelew is a comprehensive insurance brokerage, employee benefits, and risk management consulting firm offering a platform-plus-modules architecture. The Property & Casualty division includes Controlled Insurance Programs (wrap-ups), cyber risk management, executive risk insurance, global risk management, captive insurance, safety consulting, surety bonds, and subcontractor default insurance. The Employee Benefits division centers on the CSB Benefits Wheel approach, with proprietary modules including CSB Rx Advantage (pharmacy management), ClaimCheck (large claims screening), BenePortal (online benefits hub), and the data analytics suite (BeneFuture, BeneNet, BeneView). The company also offers specialty services including captive insurance, enterprise risk management, health insurance funds, joint insurance funds, mergers and acquisitions advisory, private client services, and InsurTech innovation through BrokerTech Ventures. Key partnerships enable global risk management (Globex International Group), cyber risk resources (NetDiligence), pharmacy pricing (GoodRx), and wellness support (HealthyLearn).

Differentiator

Problem solved

Functional benefit

Brands

• CSB Rx Advantage: A pharmacy coalition providing negotiating power, purchasing power, and competitive pricing to decrease annual pharmacy spend.
• ClaimCheck
• BeneFuture
• BeneNet
• BeneView
• Return on Risk
• Member Advocacy Center
• BenePortal
• CSB Academy

Products and services

• Return on Risk Approach Proprietary six-step risk management methodology that delivers consultative review, program design, implementation, claims advocacy, safety and risk control, and reporting/analysis to reduce total cost of risk and maximize opportunity for clients.
• CSB Rx Advantage A national pharmacy coalition offering clients greater negotiating power, purchasing power, expert support, and competitive pricing to decrease annual pharmacy benefit spend.
• ClaimCheck Proprietary employee benefits claims screening process for self-funded companies that ensures large and catastrophic claims (flagged at $100,000 or 50% of stop loss deductible) are properly managed, adjudicated per plan benefits, and paid correctly.
• BeneFuture Actuarial Platform Proprietary actuarial platform used to model employee benefits plan design changes and assess impact on plan cost and utilization.
• BeneNet Claims Re-pricing System Claims re-pricing system that measures carrier provider network discounts to enable thorough evaluation of provider networks.
• BeneView Data Warehouse Data warehouse capturing all group claims and utilization experience, enabling drill-down analysis into cost drivers and care gaps.
• Member Advocacy Center High-touch, personalized member advocacy center that supports employees and dependents on benefit eligibility, claims processing, provider finding, and coverage clarification.
• CSB Benefits Wheel Comprehensive employee benefits risk management offering covering strategic advisory, plan design, pharmacy management, member advocacy, employee communications, compliance, population health advisory, and data analytics.
• Controlled Insurance Programs (Wrap-Ups) Owner-controlled insurance programs (wrap-ups) for large construction projects (typically $150 million+), providing centralized coverage, lower costs, pricing stability, and integrated safety and claims management.
• Cyber Risk Portal Cyber risk management portal providing clients with tools to assess exposures, build incident response plans, and minimize breach effects.
• Product Shortage PLUS Endorsement First-of-its-kind insurance endorsement addressing cell and gene therapy product shortages in clinical trials; covers patient claims, operational failures, legal defense, and compliance. Offered through Citadel Insurance's BioPro program.
• Property & Casualty Insurance Brokerage Property and casualty insurance placement and brokerage for commercial clients, including executive risk, global risk management, surety bonds, subcontractor default insurance, captive insurance, and safety consulting.
• Employee Benefits Consulting & Brokerage Strategic advisory, brokerage, and administration of group health, welfare, voluntary, executive, and retiree benefits, with companion services in benefits automation, compliance and audit, employee communications, and wellness/population health.
• Captive Insurance Services Formation and management of property & casualty and employee benefit captive insurance solutions for clients with complex or specialized risk profiles.
• Joint Insurance Funds & Health Insurance Funds Administration Management of joint insurance funds and health insurance funds for New Jersey public entities, schools, and local governments.
• Private Client Group Personal-lines insurance practice providing high-value property insurance, excess liability, and specialty coverage (aviation, equine, yachts) for high-net-worth individuals.
• Surety Bonds Surety bond placement for commercial and construction clients seeking contract, performance, license, and other surety instruments.
• Claim Advocacy & Consulting Dedicated claim advocacy and consulting service that manages and recovers on claims across property, casualty, workers compensation, and specialty lines on behalf of clients.
• Global Risk Management International risk management service delivered in partnership with Globex International Group, providing access to brokers in more than 130 countries for consistent worldwide coverage and benefits program support.
• Enterprise Risk Management Enterprise risk management consulting helping organizations identify, quantify, and manage risk exposures across the enterprise beyond traditional insurance placement.
• Mergers & Acquisitions Insurance Advisory Insurance and risk advisory for buyers, sellers, and investors in mergers and acquisitions, including representations and warranties insurance and due-diligence risk review.
• Subcontractor Default Insurance Subcontractor default insurance covering the financial loss caused by a contractor default on construction projects.

Quantifiable outcome

• 98% client retention rate
• +7 more outcomes

Named customers6 records

Segments10 records

Ideal customer profiles10 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature7 records

Partnerships

14 partnerships are on record, tiered minor and core.

• Iovance BiotherapeuticsminorStrategic or Co-development Partner · 25 January 2026Senior leader from Iovance Biotherapeutics participated in Climb for a Cure fundraising event panel discussing commercialization challenges facing advanced therapies sector.
• Minaris Advanced TherapiesminorStrategic or Co-development Partner · 25 January 2026Senior leader from Minaris Advanced Therapies participated in Climb for a Cure fundraising event panel discussing manufacturing complexity and commercialization challenges in advanced therapies.
• Latus BiominorStrategic or Co-development Partner · 25 January 2026Senior leader from Latus Bio participated in Climb for a Cure fundraising event panel on advanced therapies sector challenges including capital constraints and shift from breakthrough science to commercial execution.
• Cell One Partners Inc.minorStrategic or Co-development Partner · 3 November 2025Developed Product Shortage PLUS Endorsement insurance solution with Cell One Partners Inc. to help companies mitigate risks associated with complex supply chain and treatment delivery in cell and gene therapy industry.
• Citadel Insurance - BioPro programminorChannel Partner/ Reseller/ Distributor · 3 November 2025Product Shortage PLUS Endorsement offered through Citadel Insurance's BioPro program, covering various risk areas including patient claims, operational failures, legal defense, and compliance for cell and gene therapy product shortages in clinical trials.
• Globex International GroupcoreChannel Partner/ Reseller/ DistributorOne of only 50 U.S. brokers partnered with Globex International Group, providing immediate access to an extensive network of brokers in more than 130 countries, offering complete extension of insurance, risk management and benefits services worldwide.
• National Subrogation Services (NSS)minorStrategic or Co-development PartnerPartnered with National Subrogation Services for subrogation and claims recovery services. NSS is an affiliate of national law firm Cozen O'Connor and is an industry leader in net dollars recovered for clients.
• J.A. Montgomery ConsultingminorStrategic or Co-development PartnerAffiliate providing forensic accounting and claim preparation services through Conner Strong to help clients maximize value of premium coverage after large and complex events including catastrophic property losses.
• PERMA Risk Management ServicescoreStrategic or Co-development PartnerAffiliate that manages 17 Joint Insurance Funds, 10 Health Insurance Funds and 8 County Commissions. PERMA is a core part of Conner Strong's public entity and government risk management service offering in New Jersey.
• Consolidated Risk Solutions (CR Solutions)minorStrategic or Co-development PartnerIndustry-leading wrap-up administration firm partnered with for construction controlled insurance program (CIP) design, implementation, and management. Provides turnkey solution from program design to final close out.
• Pareto Captive ServicesminorChannel Partner/ Reseller/ DistributorPartnership with Pareto Captive Services provides access to innovative benefits stop-loss captive solution for mid-sized employers with 100 to 500 employees.
• BrokerTech Ventures (BTV)coreStrategic or Co-development PartnerConner Strong is one of five founding members of BTV, the first broker-led, broker-centric innovation ecosystem designed to accelerate innovation in the insurance industry with focus on solutions for large commercial brokerage firms.
• C2 SolutionsminorStrategic or Co-development PartnerCollaborative partnership of like-minded brokers from across the country enabling Conner Strong to harness collective size to competitively negotiate price, product, service and market terms with carrier partners in areas like group life, disability, pharmacy, stop loss, and voluntary benefits.
• Guardian NursesminorStrategic or Co-development PartnerPartnership providing Guardian Nurses healthcare navigation and advocacy services to employees and covered dependents to help navigate healthcare system and drive better health outcomes.

Scale indicators12 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Willis Towers Watson (WTW): A global advisory, brokerage, and solutions firm with major insurance brokerage and employee benefits consulting practices that overlap with Conner Strong's service offerings at the enterprise level.
• Arthur J. Gallagher & Co. A top-3 global insurance brokerage that competes directly for Conner Strong's enterprise and middle-market clients across all of its vertical specialties, with broader geographic and product capabilities.
• Aon: A top-2 global insurance and reinsurance brokerage competing for multinational enterprise clients across P&C, benefits, and risk advisory, with significantly larger resources and global reach.
• Marsh McLennan: The world's largest insurance brokerage and consulting firm, competing for the largest enterprise accounts with substantially broader global capabilities, scale, and product breadth.

Direct peers

• Lockton: The world's largest privately held insurance brokerage with comparable employee benefits consulting capabilities, specialty practice approach, and relationship-driven sales model targeting mid-to-large commercial accounts.
• USI Insurance Services: A top-10 U.S. insurance brokerage with comparable mid-market focus, strong employee benefits practice, and similar service model across P&C and benefits. USI's national footprint and similar revenue scale make it one of the closest direct competitors to Conner Strong.
• Brown & Brown: A publicly traded insurance brokerage of comparable size that has grown aggressively through acquisitions, with similar emphasis on specialty programs, employee benefits, and mid-market commercial clients.
• Alliant Insurance Services: A privately held, employee-owned brokerage with similar specialty-vertical focus (construction, public entity, healthcare, life sciences) and comparable premium volume scale. Direct competitor for many of Conner Strong's core accounts.
• Risk Strategies Company: A fast-growing private brokerage backed by private equity (KKR, Kelso) pursuing an acquisition-led growth strategy analogous to Conner Strong's BroadStreet playbook, with overlapping specialty practice areas.
• Hub International: A leading North American insurance brokerage of similar scale and acquisition-driven history, competing for mid-market and enterprise commercial accounts across comparable vertical specialties.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/connerstrong
• Facebookfacebook.com/connerstrongbuckelew
• LinkedInlinkedin.com/company/connerstrong&buckelew
• Instagraminstagram.com/connerstrongbuckelew
• Xx.com/connerstrong

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments1 record

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

Frequently asked questions about Conner Strong & Buckelew