Lockton Affinity

What Lockton Affinity does

Lockton Affinity is a specialty insurance program administrator founded in 1987 as an affiliate of Lockton Companies, one of the world's largest privately owned insurance brokers. The company operates from its headquarters in Overland Park, Kansas, with approximately 280 Associates, and insures more than 120,000 businesses across affinity groups, associations, franchise systems, non-profits, and small business segments. Its core function is constructing customized insurance solutions that fall outside standard markets, leveraging delegated underwriting authority to bind policies on behalf of carrier partners and aggregate buying power on behalf of member groups.

The company operates three integrated service lines: Sponsored Programs, which build customized insurance for affinity groups, associations, franchises, and non-profits; Wholesale/MGU, which delivers specialized product lines and delegated underwriting capabilities to 7,700+ agency partners; and Backroom Administration, which processes over one million high-volume insurance transactions annually for PEOs, captives, risk purchasing groups, and carriers through custom APIs, online portals, and digital policy administration tools including a self-service certificate request portal and customer account management systems. Product breadth spans commercial auto, financial services, healthcare, home care, fitness, franchise systems, group benefits, professional liability, cyber liability, and management liability lines, with the Jan 2026 launch of Novi Underwriters extending the company's MGU franchise into D&O, EPL, and fiduciary liability coverage for private companies and non-profits up to $1 billion in assets, supported by Vantage Risk.

Revenue is generated through a multi-stream model combining insurance commissions (percentage of premiums placed and renewed), negotiated client fees, contingency and supplemental commissions tied to premium volume and profitability, service fees for consulting, MGA arrangements, analytics, and administration, reinsurance intermediary fees via Lockton Re, LLC, and premium finance administration fees. The firm is privately held, with no public financial disclosures, and grows partner relationships, transaction throughput, and product scope as principal operating metrics.

Name

Lockton Affinity

Legal name

Lockton Affinity, LLC

Website

https://locktonaffinity.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

101–250 employees

Short description

Lockton Affinity is a specialty insurance program administrator that builds customized insurance products for affinity groups, associations, franchises, non-profits, and small businesses through sponsored programs, wholesale/MGU delegated underwriting, and backroom administration services processing over one million transactions annually.

Ownership category

akta.pro rank

Product category

Specialty Insurance Program Administration

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industries

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL), Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI), Annuities & Investment-Linked Insurance Solutions (Retail) (FSAAAAAM)

Keywords

• Specialty insurance programs
• Program administration
• Wholesale insurance broker
• Managing general underwriter
• Affinity insurance solutions

Headquarters

HQ city

Overland Park

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: Commissions paid by insurers calculated as a percentage of premiums for placement and renewal of insurance programs
2. Negotiated Client Fees: Fees paid by clients in lieu of, or in addition to, commissions for day-to-day servicing, risk control services, and other agreed services
3. Contingency Payments and Bonuses: Incentive or contingency payments from insurance companies based on overall performance of book of business including premium volume, growth, persistency, profitability, and retention targets
4. Supplemental Commissions: Commissions established annually based on historical and current performance measured using factors including premium volume and profitability
5. Service Fees: Fees from insurers for consulting, managing general agency arrangements, analytics, and administration services
6. Reinsurance Intermediary Fees: Compensation for placing facultative and/or treaty reinsurance on behalf of insurers through Lockton Re, LLC
7. Premium Finance Administration Fees: Service fees from premium finance companies for administrative services relative to financing client insurance premiums

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Lockton Affinity constructs and administers customized specialty insurance programs for affinity groups, associations, franchises, and non-profits through aggregated group buying power, and supports them with wholesale/MGU capabilities featuring delegated underwriting authority for agency partners and high-volume backroom administration services for PEOs, captives, risk purchasing groups, and carriers. The company underwrites, distributes, and services specialty insurance products that fall outside standard markets, insuring more than 120,000 businesses and processing more than 1 million transactions annually.

Product overview

Lockton Affinity is a program administrator offering three integrated service lines: Sponsored Programs (customized insurance for affinity groups, associations, franchises, and non-profits), Wholesale/MGU (specialized product lines with delegated underwriting authority for agency partners), and Backroom Administration (high-volume transactional processing, APIs, and document automation for PEOs, captives, and carriers). The company insures over 120,000 businesses across diverse practice areas including commercial auto, financial services, healthcare, home care, non-profits, professional associations, and small businesses. Novi Underwriters, its managing general underwriter subsidiary, launched a management liability product in January 2026 covering D&O, EPL, and fiduciary liability with aggregate limits up to $15 million.

Differentiator

Problem solved

Functional benefit

Products and services

• Sponsored Programs Customized insurance programs built for affinity groups, associations, franchises, and non-profits, aggregating group buying power to secure proprietary coverages from carrier partners at affordable rates for member organizations.
• Wholesale/MGU Specialized insurance product lines provided through extensive carrier partnerships with delegated underwriting authority, enabling streamlined access to exclusive coverage for agency partners across specialty lines.
• Backroom Administration High-volume transactional processing services including certificate and policy issuance, ID card generation, billing, and API-based system integrations for PEOs, risk purchasing groups, captives, and carriers.
• Novi Underwriters Management Liability Coverage Management liability insurance package covering directors and officers liability, employment practices liability, and fiduciary liability for private companies and not-for-profits with up to $1 billion in assets and 5,000 employees, with maximum limits of $5 million per section and $15 million aggregate, underwritten by Vantage Risk.

Quantifiable outcome

• Over 120,000 businesses insured through program administration
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• Vantage RiskcoreStrategic or Co-development Partner · 26 January 2026Vantage Risk serves as the supporting insurer for Novi Underwriters' management liability coverage products launched by Lockton Affinity. The coverage includes directors and officers liability, employment practices liability, and fiduciary liability with maximum limits of $5 million per section and $15 million aggregate.
• Carrier PartnerscoreOthersDecades-long partnerships with national insurance carriers enabling development of exclusive product lines and coverage options. Carrier partners benefit from Lockton Affinity's industry expertise, underwriting capabilities, and distribution reach across affinity groups and associations.
• Agency PartnerscoreChannel Partner/ Reseller/ DistributorAgency partners access exclusive product lines and carriers through Lockton Affinity's wholesale/MGU capabilities. Partners benefit from delegated underwriting authority, in-house service support, and carrier access that clients often cannot find elsewhere.
• Lockton CompaniescoreStrategic or Co-development PartnerParent company affiliation providing financial backing, operational support, and access to the broader Lockton resources and expertise. Lockton Affinity operates as an affiliate of Lockton Companies, one of the world's largest privately owned insurance brokers.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Amwins: Largest U.S. wholesale broker, MGU, and program administrator with broad specialty lines and delegated underwriting authority. Closely comparable to Lockton Affinity's wholesale/MGU pillar in products, customers, and carrier relationships.
• Ryan Specialty (RPS): Specialty insurance broker and MGU platform (including RPS) focused on delegated authority and program business. Highly comparable in model — wholesale distribution, delegated underwriting, and affinity-style programs for niche risks.
• Burns & Wilcox: National wholesale broker and MGU specializing in excess & surplus lines and specialty programs. Comparable in serving retail agents with exclusive products and delegated authority, similar to Lockton Affinity's wholesale channel.
• Brown & Riding: Specialty wholesale broker and program administrator with deep carrier relationships and delegated underwriting capabilities. Comparable to Lockton Affinity in serving niche and affinity-style risks through retail agent distribution.
• CRC Insurance Services: Wholesale-only specialty broker (part of Truist Insurance Holdings) with extensive delegated authority and program business. Comparable in scale, channel, and exclusive carrier product focus.
• USI Insurance Services: Large middle-market insurance broker and program administrator with specialty practice areas. Comparable to Lockton Affinity in operating sponsored programs and delegated authority solutions across niche industries.
• H.W. Kaufman Group: Specialty insurance holding company with wholesale, MGU, and program management subsidiaries (e.g., Burns & Wilcox, RPS). Comparable in operating delegated authority and affinity-style programs across multiple specialty lines.

Emerging players

• Breckenridge Insurance: Specialty program manager and wholesale broker operating MGUs and binding authorities across affinity-style and niche verticals. Comparable in product/category (program administration) but smaller in scale than Lockton Affinity.

Broad incumbents

• NFP (an Aon company): Large diversified broker with dedicated affinity, association, and program administration capabilities. Comparable to Lockton Affinity in serving affinity/association clients but with a much broader portfolio and now backed by Aon.

Others

• AmTrust Financial Services: Specialty property/casualty insurer and program underwriter. Relevant to Lockton Affinity as a prior employer of Novi Underwriters' product leadership and as a potential carrier/program partner, but not a direct distribution competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/locktonaffinity

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Lockton Affinity