The MGIS Companies

What The MGIS Companies does

The MGIS Companies, Inc. is a privately held insurance program manager founded in 1974 and headquartered in Salt Lake City, Utah, that specializes in disability insurance products designed exclusively for doctors, healthcare professionals, and — more recently — veterinarians. The company operates as a Lloyd's of London coverholder and administers its programs through A++ AM Best-rated Reliance Matrix (a Tokio Marine Group company), enabling it to underwrite and issue specialized group disability coverage that combines the contractual features of individual disability insurance (IDI) with the cost and underwriting advantages of group long-term disability (LTD). Its flagship product, Disability Guard for Doctors™, uses a CPT code-based definition of disability tied to the actual procedures each doctor performed in the prior twelve months, and explicitly excludes typical group LTD disadvantages such as maximum capacity language, 40-hour work week standards, and lifetime aggregate mental health limits.

The company's product portfolio is anchored by Disability Guard for Doctors™ and a complementary High Limits Disability Insurance product that provides up to 70% income replacement and $20,000/month in supplemental benefits for high-earning physicians, with short-term disability and group life/AD&D coverage offered as add-on modules. MGIS distributes exclusively through a vetted network of select insurance brokers supported by five Regional VPs of Distribution covering all major U.S. territories, and the company invests heavily in broker education infrastructure including a podcast, blog, newsletter, and original research.

MGIS generates revenue through insurance program management fees and recurring monthly premiums on group disability policies paid by employer practices and covered participants. Pricing is quote-based and varies by group size, physician income, specialty mix, and selected coverage options; the company does not publicly disclose premium volume, revenue, or pricing rates. With 51–100 employees (more than half holding insurance licenses and many carrying CEBS, RPLU, or DIA designations) and a reported partner retention rate above 90%, MGIS operates as a long-tenured, narrowly focused niche insurer with a stable, distributed book of business across U.S. healthcare practices of all sizes and specialties.

Name

The MGIS Companies

Legal name

The MGIS Companies, Inc.

Website

https://mgis.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

51–100 employees

Short description

The MGIS Companies is a privately held, Salt Lake City-based insurance program manager founded in 1974 that designs and distributes specialized group disability insurance — including its flagship Disability Guard for Doctors™ product — exclusively to U.S. doctors, healthcare practices, and veterinary professionals through a select broker network.

Ownership category

akta.pro rank

Product category

Specialty Disability Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114), Health and Welfare Funds (525120)

SIC

Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industries

Group Disability Income Insurance (Employer-Sponsored) (FSAIAIAB), Individual Disability Income Insurance (Non-Group) (FSAIAIAA), Guaranteed Standard Issue (GSI) Disability Insurance (FSAIAIAF), Own-Occupation Specialty Disability Insurance (Professional Occupations) (FSAIAIAI), High-Limit / High-Income Disability Insurance (FSAIAIAE)

Keywords

• Specialty disability insurance
• Group long-term disability
• Medical-professional liability
• Insurance program management
• Healthcare insurance brokerage

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Program Management: MGIS manages specialized insurance programs for doctors, partnering with top-rated insurers (Reliance Matrix, Lloyd's). Revenue is generated through program management fees and insurance premiums collected from employer-sponsored group disability policies.
2. Group Disability Insurance Premiums: MGIS administers group long-term disability, short-term disability, and life insurance policies for healthcare practices. Premiums are paid by employer groups and/or covered participants for income-protection coverage.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

The MGIS Companies designs, underwrites, and administers specialty disability insurance programs exclusively for doctors, healthcare professionals, and veterinarians. Its core offering, Disability Guard for Doctors™, is a group long-term disability policy that combines individual disability insurance (IDI) provisions with group LTD cost and underwriting advantages, while High Limits Disability Insurance provides supplemental coverage up to 70% income replacement and $20,000 monthly benefits for high-earning physicians.

Product overview

MGIS offers a specialized portfolio of disability insurance products designed exclusively for doctors and healthcare professionals. The core products are Disability Guard for Doctors™ (a unique hybrid combining individual disability insurance provisions with group LTD advantages) and High Limits Disability Insurance (supplemental coverage providing up to 70% income replacement for high earners). These products work together to address income protection gaps, with Disability Guard stacking on existing individual policies and High Limits adding additional layers for doctors whose income exceeds standard coverage limits. Short-term disability and group life/AD&D insurance are offered as complementary add-on benefits.

Differentiator

Problem solved

Functional benefit

Brands

• Disability Guard for Doctors™: Unique disability insurance combining individual disability insurance features with group insurance cost and underwriting advantages, designed exclusively for doctors and their employees.
• High Limits Disability Insurance

Products and services

• Disability Guard for Doctors™ A specialized group long-term disability insurance product designed exclusively for doctors and healthcare professionals that uniquely combines the best coverage features of individual disability insurance (IDI) with the cost and underwriting advantages of group insurance. Includes CPT code-based definition of disability, no mandatory rehabilitation requirements, per-occurrence MNDA provisions, no maximum capacity language, no 40-hour work week restrictions, and guaranteed issue with no proof of health or finances required. Sold through approved brokers to healthcare practices as employer-sponsored group LTD coverage.
• High Limits Disability Insurance A supplemental disability insurance product for high-earning doctors that adds another layer of income protection on top of existing individual and group disability coverage. Provides up to 70% total income replacement and monthly benefits up to $20,000, closing the income-protection gap for high-earning physicians. Uses simplified issue underwriting for groups of 5+ doctors with no individual medical underwriting. Sold through approved brokers to healthcare practices.

Quantifiable outcome

• Doctors are 3 times more concerned about disability risk than professional liability risk
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Reliance MatrixcoreStrategic or Co-development PartnerReliance Matrix is a leading insurance carrier providing employee benefits, absence management, and workforce productivity solutions. Founded in 1907, it is a member of the Tokio Marine Group. MGIS administers physician products underwritten by Reliance Matrix companies (Reliance Standard Life Insurance Company, First Reliance Standard Life Insurance Company, and Standard Security Life Insurance Company of New York). Holds A++ FSR rating from AM Best.
• Lloyd's of LondoncoreStrategic or Co-development PartnerLloyd's is a global specialist insurance and reinsurance market led by expert underwriters covering more than 200 territories. MGIS operates as a Lloyd's coverholder with authority delegated for underwriting, policy issuance, and other responsibilities depending on the product. Provides additional financial strength and stability for MGIS insurance products.
• Insurance Brokers and Distribution PartnerscoreChannel Partner/ Reseller/ DistributorMGIS works exclusively through select insurance brokers and advisers who distribute MGIS insurance products to healthcare practices. The company supports brokers with product training, marketing resources, and sales tools. Brokers must apply and qualify to become distribution partners.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Unum Group: One of the largest U.S. group disability insurers and historically the dominant provider of professional disability for healthcare professionals (via legacy Paul Revere). Comparable as a direct competitor in group LTD and individual disability for physicians, the same buyer MGIS serves.
• Lincoln Financial Group: Major individual and group disability carrier with a sizable block of medical-professional disability business. Directly competes for the same physician and high-income professional disability coverage that MGIS specializes in.
• The Hartford: Large group disability and group benefits carrier serving healthcare practices and professional employer groups. Overlaps with MGIS in group LTD for medical groups and competes for the same benefits broker RFPs.
• Northwestern Mutual: A leading individual disability income (IDI) provider for high-income professionals, including physicians. Directly competes with MGIS's hybrid IDI-like provisions (CPT-based definition, no mandatory rehab) by selling individual disability to the same medical-professional segment.
• MassMutual: Sells individual disability insurance to high-income professionals, including physicians and surgeons, with specialty own-occupation definitions. Comparable as a competitor to MGIS's IDI-style features embedded in its group LTD product.
• Ameritas: Provides individual disability, dental, and vision coverage commonly marketed to healthcare professionals. Competes for the same high-income physician segment with similar own-occupation-style disability products.

Broad incumbents

• Prudential Financial: Broad financial services incumbent with a sizable group disability insurance business serving employers, including healthcare practices. Overlaps with MGIS in group LTD but operates a much wider product portfolio (life, annuities, retirement).
• Sun Life Financial: Major group benefits carrier (group disability, dental, vision) following its DentaQuest acquisition. Competes with MGIS in group LTD for healthcare practice clients but with broader benefits portfolio and bigger scale.
• Reliance Matrix (Reliance Standard Life): Core underwriting carrier partner for MGIS and a Tokio Marine Group company (A++ AM Best). Also distributes its own employee benefits products (group disability, life, absence) and could emerge as a competitor if it internalized MGIS-style physician specialty products.

Emerging players

• Assurity Life Insurance Company: Mutual insurer focused on individual disability and life products, including specialty disability for professionals. Comparable as a smaller, specialty-oriented carrier competing for disability income business in adjacent professional segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/themgiscompaniesinc
• LinkedInlinkedin.com/company/the-mgis-companies-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 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 The MGIS Companies