Evolution Insurance Brokers LC

What Evolution Insurance Brokers LC does

Evolution Insurance Brokers LC, operating as XINSURANCE, is a U.S. excess and surplus (E&S) lines insurance brokerage founded in 2009 and headquartered in Sandy, Utah. The firm underwrites and distributes specialty liability insurance for individuals and small-to-medium businesses that have been declined, canceled, or non-renewed by standard carriers, spanning more than 1,000 unique risk classes across personal and commercial lines (umbrella, homeowners, animal/watercraft, commercial auto, amusement, outdoor recreation, firearms, aviation, security services, law enforcement). Policies are issued by Prime Insurance Company, an A- (Excellent) rated E&S carrier, with XINSURANCE acting as the broker-of-record earning placement commissions; XINSURANCE also derives ancillary revenue from flexible premium financing arranged through Greenlight Premium Financing Company.

The underlying technology is a custom brokerage platform centered on the XSEARCH product/class discovery tool, a Jarus-powered member/agent authentication portal, native iOS and Android applications for policyholders, and a third-party claims platform (Claims Direct Access). Distribution is multi-channel: licensed insurance producers (no minimum production requirements) submit quotes via email/web, while customers can also request quotes directly online or via a 1-877 call center. The go-to-market is consultative and relationship-driven, with industry-association partnerships (NSSF, IAAPA, NSAA, WSIA, Association of Aquatic Professionals) and event sponsorships (UIM World Championship Series, Key West Offshore World Championships) anchoring vertical-specific brand presence.

Commercial economics are commission-based on annual policies (billing cadence annual; direct billing since 1/1/2025), with quote-based pricing that varies by risk class, coverage limits up to $20 million, and customizable deductibles. The company is privately held with no disclosed institutional or PE ownership, led since founding by Rick J. Lindsey as President, CEO, and Chairman, and operates from four U.S. offices (Sandy UT, Chicago, Naples FL, Exton PA) supporting coverage in all 50 states.

Name

Evolution Insurance Brokers LC

Legal name

Evolution Insurance Brokers, LC

Website

https://xinsurance.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

Evolution Insurance Brokers LC (XINSURANCE) is a U.S. excess and surplus lines insurance brokerage that places specialty liability coverage for individuals and SMBs in hard-to-insure risk classes, distributed via producer networks and direct channels across all 50 states.

Ownership category

akta.pro rank

Product category

Specialty Liability 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), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD)

akta.pro secondary industries

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ), Umbrella & Excess Liability (Fleet/Transportation) (TLABANAG)

Keywords

• Specialty liability insurance
• Excess surplus lines
• Commercial liability coverage
• Personal liability insurance
• Specialty risk coverage

Headquarters

HQ city

Sandy

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: XINSURANCE generates revenue through insurance premiums collected from policyholders. Policies are underwritten by Prime Insurance Company (A- rated excess and surplus lines carrier) and XINSURANCE acts as the broker/agent earning commissions on policy placements.
2. Premium Financing: XINSURANCE offers flexible premium financing through Greenlight Premium Financing Company, providing an additional service revenue stream and making policies more accessible to customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Evolution Insurance Brokers LC operates as an excess and surplus lines insurance brokerage under the XINSURANCE brand, providing customized specialty liability insurance for individuals and businesses that have been declined, canceled, or non-renewed by traditional carriers. Policies are underwritten by Prime Insurance Company, an A- (Excellent) rated surplus lines carrier, while XINSURANCE acts as the broker distributing coverage through its agent network and direct channels. Coverage spans personal lines (umbrella, homeowners, animal liability, watercraft) and commercial lines (general liability, commercial auto, amusement, outdoor recreation, aviation, firearms, security, and law enforcement).

Differentiator

Problem solved

Functional benefit

Brands

• TRU Umbrella: Customized umbrella coverage that fills gaps and covers exclusions in primary policies for work, home, and play.
• TRU Homeowners

Products and services

• TRU Umbrella Comprehensive umbrella liability insurance that fills gaps and covers exclusions in existing homeowners, employers, and business insurance policies, with limits available up to $20 million tailored to individual needs.
• TRU Homeowners Specialty non-standard homeowners insurance covering wind, floods, earthquakes, mudslides, wildfires, and other perils that traditional homeowners policies may exclude or underinsure.
• Personal Liability Liability coverage protecting individuals from claims of bodily injury or property damage sustained by third parties in personal contexts.
• Animal Liability Coverage for third-party bodily injury and property damage caused by animals owned by the policyholder, including dogs, reptiles, birds, and exotic animals.
• Boats & Watercraft Specialty insurance coverage for boats, personal watercraft, and water sports equipment and operations.
• Commercial Liability General liability coverage for businesses, protecting against claims of bodily injury and property damage sustained by third parties in commercial contexts.
• Commercial Auto Auto liability coverage for company-owned or personally-owned vehicles primarily used for business purposes, including trucking, taxi, limousine, buses, and delivery vehicles.
• Amusement & Recreation Specialty liability coverage for the amusement and recreation industry, including venues, attractions, and recreational operators.
• Inflatables & Bounce Houses Specialized coverage for inflatable amusement equipment including bounce houses, providing liability protection for operators.
• Outdoor Recreation Liability coverage for outdoor recreation industry operators including guides, instructors, and activity providers.
• Pilot Liability Specialty aviation insurance for pilots including private, recreational, commercial, student, and certified flight instructors. Covers hull coverage, passenger liability, non-owned aircraft, and search and rescue.
• Firearm Liability (Concealed Carry) Comprehensive concealed carry and firearms liability insurance covering accidental discharge, legal defense, bail bonds, civil suit defense, and income interruption. Policy limits available up to $10 million.
• Security Services Customized insurance solutions for security guard companies and security professionals, including armed and unarmed guards, bodyguards, investigators, and security training companies. Covers assault and battery, active shooter liability, and professional liability.
• Helicopter Insurance Specialty aviation insurance for helicopter owners and operators including commercial tour operators, emergency medical services, law enforcement, and aerial photography. Covers aircraft liability, hull coverage, pilot liability, and cargo liability.
• Police Officer Insurance Specialized coverage for law enforcement professionals including wrongful acts, alleged assault and battery, criminal defense, income protection when suspended, moonlighting coverage, and failed CPR liability protection.
• Gun Shop Insurance Comprehensive coverage for firearm retailers including gun stores, manufacturers, suppliers, gunsmiths, shooting ranges, and pawn shops. Covers products liability, inland marine, and property coverage.
• Small Business Insurance Customized liability insurance solutions for small businesses across industries including restaurants, construction, property management, automotive services, healthcare, and professional services.

Quantifiable outcome

• 90,000+ policies issued to date
• +3 more outcomes

Named customers4 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

Integration4 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core, supporting and minor.

• Prime Insurance CompanycoreStrategic or Co-development PartnerPrime Insurance Company is the A- (Excellent) rated excess and surplus lines insurance carrier that writes the actual insurance policies. XINSURANCE is co-branded with Prime Insurance Company, which provides the financial backing and policy issuance while XINSURANCE handles distribution and service.
• Greenlight Premium Financing CompanysupportingStrategic or Co-development PartnerGreenlight Premium Financing Company provides flexible premium financing options for XINSURANCE policyholders, allowing customers to spread premium payments over time with terms based on account size and historical experience.
• National Ski Areas Association (NSAA)minorGTM or Marketing PartnerIndustry association partnership providing visibility and credibility within the ski and outdoor recreation industry.
• Association of Aquatic ProfessionalsminorGTM or Marketing PartnerIndustry association membership providing visibility and credibility within the aquatic recreation industry.
• IAAPAminorGTM or Marketing PartnerInternational Association of Amusement Parks and Attractions membership, active member through 2026.
• American OutdoorsminorGTM or Marketing PartnerIndustry association partnership for outdoor recreation industry visibility.
• Water Sports Industry Association (WSIA)minorGTM or Marketing PartnerIndustry association membership for water sports industry visibility and credibility.
• NSSF (National Shooting Sports Foundation)minorGTM or Marketing PartnerProud member of the NSSF, the trade association for the firearms industry, providing visibility and credibility within the firearms sector.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• RPS (Risk Placement Services): One of the largest U.S. wholesale/specialty insurance brokerages placing excess and surplus lines business. Directly comparable to XINSURANCE as both act as specialty brokers serving hard-to-place personal and commercial risks via producer networks.
• Burns & Wilcox: Specialty insurance brokerage distributing E&S and surplus lines products through a network of agents and brokers. Highly comparable to XINSURANCE on business model, distribution channel, and specialty-line focus.
• CRC Group: Wholesale insurance brokerage specializing in placing complex and specialty risks across P&C, professional, and personal lines. Directly competes with XINSURANCE in the specialty broker segment for hard-to-place accounts.
• Amwins: Specialty insurance distributor and underwriting manager with deep E&S lines placement capabilities. Comparable to XINSURANCE as a specialty distribution platform serving retail agents and brokers with non-standard risks.
• Norman-Spencer Agency: Specialty insurance brokerage focused on non-standard and hard-to-place risks across personal and commercial lines. Closely comparable to XINSURANCE on niche specialization and producer-driven distribution.

Broad incumbents

• Hiscox: Specialty insurer with strong presence in small business, professional liability, and personal lines including hard-to-place risks. Comparable to XINSURANCE on customer profile (SMBs and individuals with non-standard risks), though Hiscox is a carrier rather than a broker.
• Markel: Specialty insurer with deep excess and surplus lines and hard-to-place commercial and personal liability expertise. Comparable to XINSURANCE on specialty liability product mix, though Markel is an established carrier with a much broader portfolio.

Emerging players

• Kinsale Insurance: E&S lines carrier focusing on small-to-medium commercial and personal specialty accounts. Comparable to XINSURANCE's specialty risk appetite and SMB customer profile; differs as a direct carrier rather than a brokerage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/xinsurance
• YouTubeyoutube.com/user/xinsurancecom
• Facebookfacebook.com/xinsurance
• LinkedInlinkedin.com/company/xinsurance
• Instagraminstagram.com/xinsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Evolution Insurance Brokers LC