The Buckner Company

What The Buckner Company does

The Buckner Company is a third-generation, family-owned insurance brokerage and risk management firm founded in 1936 by Elmer Ray Buckner in Salt Lake City, Utah, and currently led by CEO Terry H. Buckner. The firm operates four core product lines — Commercial Insurance, Employee Benefits, Private Client Group (high-net-worth individuals), and Small Business Insurance — alongside value-added in-house Loss Control and Claims Management services. Twelve published industry specialty practices (Agribusiness, Aviation, Construction, Healthcare, Manufacturing, Nonprofit, Professional Services, Real Estate, Retail, Technology, Transportation, and Financial Institutions) signal vertical depth in addition to horizontal product breadth.

The firm runs a proprietary technology stack called "Buckner Technology" supporting insurance operations and client management, complemented by a domain-specialized Loss Control Technology Platform used for safety assessments and OSHA-compliance workflows. Disclosed investment in AI to deliver "smarter, faster, more connected tools" represents the newest layer of the platform, though specific AI products, models, or capabilities are not detailed. No public or partner-facing API or developer SDK is offered; the company has no mobile app. The platform's primary function is producer enablement, not customer self-service.

Buckner generates revenue through commissions paid by insurance carriers across all four product streams on a custom, quote-based annual pricing model with no public pricing available. Go-to-market is sales-led via dedicated Client Advisors in eight offices across Utah (Salt Lake City, Utah County, Pleasant Grove, Ogden, St. George), Colorado (Denver market), and Idaho (Idaho Falls, Rexburg), with a secondary channel-partner motion that acquires independent agencies (Keller-Lowry in 2019, Fall River in 2024). A 92% client retention rate — among the highest in the industry — underscores the recurring nature of commission revenue. Marketing channels include social media, content publishing, the Buckner Connect executive networking events, and the Buckner Cares community initiative. The firm is privately held with no external funding, parent company, or disclosed revenue.

Name

The Buckner Company

Legal name

The Buckner Company

Website

https://buckner.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

101–250 employees

Short description

The Buckner Company is a third-generation, family-owned insurance brokerage and risk management firm founded in 1936, serving commercial businesses, employee benefits clients, and high-net-worth individuals across Utah, Idaho, and Colorado via 210 employees in eight offices.

Ownership category

akta.pro rank

Product category

Commercial Insurance Brokerage

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411), Surety Insurance (6351)

akta.pro primary industry

Surety & Bond Brokerage (FSAEADAI)

akta.pro secondary industry

Real Estate / Lessors Risk BOP (FSAJAFAI)

Keywords

• Commercial insurance brokerage
• Employee benefits consulting
• Private client insurance
• Loss control services
• Insurance risk management

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Commercial Insurance: Commissions from insurance carriers for commercial lines including auto, bonds & surety, captives, cyber liability, general liability, international, management liability, property, and workers compensation coverage
2. Employee Benefits: Commissions from insurance carriers for employee benefits including large group and small group health insurance and related benefits
3. Private Client Group: Commissions from insurance carriers for high-net-worth individual insurance including home, jewelry, art collection, and umbrella coverage
4. Small Business Insurance: Commissions from insurance carriers for small business insurance products

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

The Buckner Company is a third-generation, family-owned insurance brokerage and risk management firm founded in 1936. It places commercial insurance (auto, bonds & surety, captives, cyber liability, general liability, international, management liability, property, workers compensation), employee benefits (large/small group), private client insurance for high-net-worth individuals, and small business insurance on behalf of clients with regional, national, and global carriers. Value-added in-house loss control services and full-service claims management complement the core brokerage offering.

Product overview

The Buckner Company is a third-generation, family-owned insurance brokerage and risk management firm founded in 1936. The company offers a unified portfolio of insurance and risk management products consisting of Commercial Insurance (with coverage types including Auto, Bonds & Surety, Captives, Cyber Liability, General Liability, International, Management Liability, Property, and Workers Compensation), Employee Benefits (Large and Small Group), Private Client Group, Small Business Insurance, and Term Life Insurance. These core products are complemented by value-added services including Loss Control Services and Claims Management. The company also operates industry-specific specialty practices covering Agribusiness, Aviation, Construction, Financial Institutions, Healthcare, Manufacturing, Nonprofit, Professional Services, Real Estate, Retail, Technology, and Transportation sectors. Brand initiatives include Buckner Connect (networking events) and Buckner Cares (charity program).

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Insurance

Quantifiable outcome

• 92% client retention rate
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Fall River InsurancecoreChannel Partner/ Reseller/ Distributor · 1 January 2024Independent agency acquired in 2024. Partnership aligned with client-first values and provided technology, carriers, and confidence to better serve clients.
• Keller-Lowry InsurancecoreChannel Partner/ Reseller/ Distributor · 1 January 2019Independent agency acquired in 2019 as part of Buckner's growth strategy. Partnership strengthened presence in Denver market. Described as an incredibly smooth and positive experience.
• Brett Nilsson (Independent Agent)minorChannel Partner/ Reseller/ Distributor · 1 January 2005Independent agent acquired in 2005, described as seeking a people-first environment.
• Regional, National, and Global InsurerscoreOthersLong-term relationships with insurance carriers and brokerage partners. Carriers want to work with Buckner based on regional footprint, size and industry diversity, and independence. Insurers include those with exceptional customer service, genuine desire to take care of clients, and local presence.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Heffernan Insurance Brokers: Independent insurance brokerage founded in 1978 with similar mid-market commercial, employee benefits, and personal lines mix, comparable headcount range, and active M&A roll-up strategy across the Western US. Closely aligned in size, ownership structure, and product breadth.
• Insurance Office of America: Large independent insurance brokerage founded in 1988, comparable in commercial P&C emphasis, employee benefits capabilities, and mid-market focus. Demonstrates the scale and acquisition trajectory an agency of Buckner's profile can pursue.
• Leavitt Group: Family-owned, Cedar City, Utah-headquartered independent insurance agency with a similar multi-state Western US footprint, comparable employee scale, and diversified commercial/benefits/private client offering. Most directly comparable independent agency peer given shared regional concentration and generational ownership model.

Broad incumbents

• NFP: PE-backed (Madison Dearborn) large insurance brokerage and advisory firm with diversified commercial, benefits, and personal lines. Significantly larger than Buckner but competes for the same Western US mid-market accounts and acquisition targets.
• USI Insurance Services: PE-backed (Kohlberg & Company, CD&R) large US insurance brokerage with significant middle-market and employee benefits focus. Comparable product mix to Buckner with substantially greater geographic scale and capital.
• Acrisure: PE-backed, technology-enabled insurance brokerage that has consolidated hundreds of agencies and competes aggressively on M&A multiples and equity-based producer compensation. Key competitive threat to independent agencies like Buckner.
• Hub International: PE-backed (Hellman & Friedman, TPG) major North American insurance brokerage with strong Western US presence and active acquisition program. Represents the dominant consolidator that Buckner must compete against for both producers and agency targets.
• Arthur J. Gallagher: Major publicly traded global insurance brokerage and risk management firm with extensive Western US retail brokerage operations. Sets the competitive benchmark for product breadth, technology investment, and carrier relationships.
• Marsh & McLennan Agency: Middle-market subsidiary of Marsh McLennan (publicly traded), competing directly for the same mid-market commercial and benefits clients Buckner serves in the Western US, with substantially greater resources and carrier appointments.
• Brown & Brown: Publicly traded, large national insurance brokerage with strong retail and program business. Operates the same agency-acquisition flywheel but with public market capital and substantially greater geographic diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/thebucknerco
• LinkedInlinkedin.com/company/53345
• Instagraminstagram.com/buckner.company/?hl=en
• Xx.com/thebucknerco

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 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 Buckner Company