Lumen Risk Services

What Lumen Risk Services does

Lumen Risk Services is a technology-enabled Managing General Agent (MGA) headquartered in Dallas, Texas, founded in 2019 by Scott Whitaker. The company operates two distinct MGA subsidiaries: Lumen Risk Services, which underwrites commercial lines (commercial property, builders' risk, commercial general liability, and umbrella) across more than 30 US states, and Lumen Select, a Paragould, Arkansas-based personal lines MGA writing admitted private passenger auto and homeowners coverage in partnership with Cimarron Insurance Company. Insurance products are distributed through a nationwide network of wholesale brokers, retail brokers, and independent agents.

The company's core technology is the proprietary KURRENT platform, a fully integrated digital underwriting and distribution system that streamlines the entire insurance lifecycle from submission intake through policy delivery, endorsement processing, renewals, and real-time portfolio analytics. KURRENT integrates third-party data sources including risk characterization, weather analytics, and catastrophe modeling, and powers a Producer Portal for agents as well as a customer-facing portal with mobile application. A new digital captive insurance platform for the middle market is under development following the April 2025 Series A funding.

Lumen generates revenue through MGA underwriting commissions and fees paid by insurance carriers for distributing their products across multiple lines. The company launched its commercial property program in May 2021 via a partnership with Transverse Insurance Group (a hybrid fronting carrier backed by Virgo Investment Group) and its personal lines program in February 2024 via Cimarron Insurance Company. In April 2025, Lumen raised a $12 million Series A from Caffeinated Capital, and in February 2026, the company was acquired by The Vistria Group, a middle-market private equity firm with $17 billion in AUM, becoming a platform investment within Vistria's Financial Services strategy focused on the specialty MGA market.

Name

Lumen Risk Services

Legal name

Lumen Holdings, LLC

Website

https://lumenrisk.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Specialty Insurance MGA

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Managing general agent
• Commercial property insurance
• Specialty MGA programs
• Digital underwriting platform
• Insurance program administration

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. MGA Underwriting Operations: Lumen operates as a Managing General Agent, generating revenue through underwriting commissions and fees from insurance carriers for distributing their products. The company underwrites commercial property, builders' risk, commercial general liability, personal auto, homeowners and umbrella policies across more than 30 states.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Lumen Risk Services operates as a technology-enabled Managing General Agent (MGA) that underwrites and distributes commercial property, builders' risk, commercial general liability, and umbrella insurance programs, while its Lumen Select subsidiary underwrites personal auto and homeowners programs. The company leverages its proprietary KURRENT digital platform for end-to-end underwriting, policy administration, endorsement processing, renewals, and real-time portfolio analytics, distributing its products through wholesale and retail broker networks across more than 30 U.S. states.

Product overview

Lumen Risk Services is a technology-enabled Managing General Agent (MGA) operating as a platform-plus-products model. The core of the offering is the proprietary KURRENT digital platform, which serves as the foundational technology layer enabling both commercial lines (via Lumen Risk Services) and personal lines (via Lumen Select) operations. KURRENT provides a fully integrated digital underwriting and distribution system that supports the entire insurance lifecycle including submission intake, underwriter communication, policy delivery, endorsement processing, renewals, and real-time portfolio analytics. The platform integrates third-party data sources such as risk characteristic confirmation, weather analytics, and catastrophe modeling. The company operates through two distinct MGA subsidiaries: Lumen Risk Services (commercial property, builders' risk, commercial general liability) and Lumen Select (private passenger auto and homeowners), both supported by the KURRENT technology infrastructure and distribution partner networks.

Differentiator

Problem solved

Functional benefit

Brands

• KURRENT: Proprietary fully integrated digital underwriting and distribution system that streamlines submission intake, underwriter communication, policy delivery, endorsement processing, renewals, and real-time portfolio analytics through a comprehensive dashboard and reporting system.
• Lumen8
• Lumen Select

Products and services

• Commercial Property Insurance Program Non-admitted commercial property insurance program offering monoline property coverage for multi-family, hospitality, and light commercial property accounts, underwritten by Lumen Risk Services and distributed through wholesale and retail brokers across more than 30 U.S. states.
• Lumen Select Personal Lines Program (Private Passenger Auto & Homeowners) Admitted personal lines insurance program underwritten by Lumen Select in partnership with Cimarron Insurance Company (A-rated by Demotech), offering private passenger auto and homeowners coverage distributed through independent insurance agents via the Lumen Select producer portal, customer portal, and mobile app.
• Builders' Risk Insurance Builders' risk insurance coverage underwritten by Lumen Risk Services for construction and real estate projects, distributed through wholesale and retail broker partners.
• Commercial General Liability Insurance Commercial general liability insurance underwritten by Lumen Risk Services and distributed through wholesale and retail broker partners across more than 30 U.S. states.
• Umbrella Insurance Umbrella insurance coverage underwritten by Lumen Risk Services for commercial and personal lines policyholders, distributed through wholesale and retail broker partners.

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Cimarron Insurance CompanycoreStrategic or Co-development Partner · 16 February 2024Lumen Select partnered with Cimarron Insurance Company to launch admitted personal lines insurance programs including private passenger auto and homeowners coverage. Cimarron, founded in 1947 and rated A by Demotech, provides capacity and underwriting expertise. The program initially operates across a four-state footprint (OK, AR, MO, TX) with plans for expansion.
• Transverse Insurance GroupcoreStrategic or Co-development Partner · 12 May 2021Lumen Risk Services partnered with Transverse Insurance Group to write Commercial Property Insurance for Real Estate Accounts. The non-admitted program offers monoline property coverage for multi-family, hospitality, and light commercial property accounts. Transverse is a hybrid fronting carrier backed by Virgo Investment Group, providing risk capacity and alternative capital on admitted and surplus lines paper.

Scale indicators4 records

Recent moves4 records

Direct peers

• K2 Insurance Services: K2 Insurance Services is a specialty MGA and program administrator offering commercial and personal lines across multiple classes. Highly comparable as a program administrator/MGA platform, and notably Mark Smith (former K2 President) sits on Lumen's board, signaling direct industry comparability.
• Burns & Wilcox: Burns & Wilcox is a leading wholesale insurance broker and MGA operating across specialty and surplus lines. Directly comparable as a wholesale/MGA distribution platform serving retail brokers with specialty commercial capacity, similar to Lumen's go-to-market.
• Risk Placement Services (RPS): RPS is one of the largest wholesale brokers and MGAs in the U.S., specializing in commercial property, casualty, and specialty lines. Comparable as a multi-line MGA program administrator serving retail brokers through proprietary technology and carrier relationships.
• Tangram Insurance Services: Tangram is a program manager and specialty MGA offering multi-line commercial programs distributed through retail brokers. Directly comparable as a program administrator building de novo programs with carrier partners, similar in size and model to Lumen.

Emerging players

• Corvus Insurance: Corvus Insurance is a tech-enabled commercial MGA focused on commercial property and specialty lines using data analytics. Comparable as a digitally-native MGA competing for similar commercial property broker relationships with proprietary technology-driven underwriting.
• Cover Whale Insurance Solutions: Cover Whale is a tech-driven MGA focused on commercial trucking and transportation. Comparable as a venture-backed digital MGA launching new programs quickly with proprietary technology and data-driven underwriting, similar to Lumen's platform-plus-MGA approach.
• SkyCover Insurance: SkyCover is a digital MGA focused on commercial property and catastrophe-exposed risks. Comparable as a technology-forward MGA targeting specialty commercial property with embedded data and analytics, competing for similar broker relationships.
• Accelerant Holdings: Accelerant is a data-driven MGA platform enabling specialty underwriters with risk exchange and analytics. Comparable as a tech-enabled MGA infrastructure play focused on enabling specialty underwriting with data and capital partnerships, an adjacent platform model to Lumen's KURRENT.

Broad incumbents

• Amwins: Amwins is the largest U.S. wholesale distributor and specialty MGA, offering broad property, casualty, and specialty programs. Comparable as a specialty MGA/wholesale platform with much larger scale; an incumbent against which Lumen competes for carrier appointments and broker relationships.
• Berkley FlexComp: Berkley FlexComp is a Berkley Company underwriting workers' comp and commercial packages. Comparable as an established program administrator with carrier backing competing for similar middle-market commercial broker relationships.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/lumen-risk-services-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

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 Lumen Risk Services