SF&C Insurance Associates

What SF&C Insurance Associates does

SF&C Insurance Associates, Inc. is a privately held insurance agency and Third Party Administrator founded in 1981 by Edward Stringer and James Franzoni in Owings Mills, Maryland. The company distributes a portfolio of voluntary benefits—including life insurance, disability protection, long-term care, critical illness, cancer, hospital indemnity, accident, dental, and annuities—to labor unions, associations, government agencies, and employers through worksite marketing conducted by Benefits Representatives who are themselves members of Workers United. Distribution is anchored by an exclusive Workers United endorsement that gives the firm access to a national labor federation covering more than one million people, with a disclosed Mid-Atlantic client base exceeding 500,000 in DC, Maryland, and Virginia.

The technology layer is a proprietary Single Slot Billing Solution that consolidates unlimited payroll-deduction benefit products into a single employer bill and integrates with multiple carrier back-ends, removing the need for employers to manage separate vendor relationships. SF&C operates as a Third Party Administrator, collecting premiums through payroll deduction and remitting them to a curated set of insurance carriers including Transamerica, Allstate, Dearborn National, Baltimore Life Insurance Company, CHUBB, Colorado Bankers, and Vantis. The agency also provides customer care, claims coordination, and enrollment support through a licensed in-house team.

Revenue is generated through insurance carrier commissions on placed coverage and administrative fees on Third Party Administration services. The firm is independently owned and managed by Managing Partners James Franzoni and Mitch Stringer with General Manager Jeff Patti, employs 51-100 people, has never lost a Client Group in 38+ years, and carries no disclosed institutional investor, parent company, or M&A activity.

Name

SF&C Insurance Associates

Legal name

SF&C Insurance Associates, Inc.

Website

https://sfandc.com

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

51–100 employees

Short description

SF&C Insurance Associates is a privately held Owings Mills, Maryland insurance agency and Third Party Administrator that distributes voluntary benefits—including life, disability, cancer, and accident coverage—to labor unions, employers, and affinity groups through union-endorsed worksite marketing and payroll-deduction billing.

Ownership category

akta.pro rank

Product category

Voluntary Benefits Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Worksite AD&D Insurance (FSAIAMAE)

akta.pro secondary industries

Group Disability Income Insurance (Employer-Sponsored) (FSAIAIAB), Basic Group Term Life (Employer-Paid) (FSAIADAA)

Keywords

• Voluntary benefits administration
• Worksite insurance marketing
• Third party administration
• Union benefits distribution
• Voluntary insurance brokerage

Headquarters

HQ city

Owings Mills

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: SF&C earns commissions from insurance carriers (Transamerica, Allstate, Dearborn National, Baltimore Life, and others) for placing voluntary benefits coverage for union members and affinity groups
2. Third Party Administration Fees: Collects insurance premiums for members and forwards premiums to insurance carriers, charging administrative fees for billing and coordination services

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

SF&C Insurance Associates is an insurance agency that distributes voluntary benefits products — life insurance, disability, long-term care, critical illness, cancer, hospital indemnity, accident, annuities, and dental coverage — to members of labor unions, affinity groups, government agencies, and employer groups through worksite marketing. The firm also operates as a Third Party Administrator, processing premiums via single-slot payroll deduction billing and forwarding them to insurance carriers such as Transamerica, Allstate, Dearborn National, and Baltimore Life.

Product overview

SF&C Insurance Associates is an insurance benefits agency that offers a portfolio of voluntary insurance products through worksite marketing to labor unions, associations, and employer groups. The core product portfolio includes Life Insurance (Universal, Whole, Term, and Lifetime Benefit Term variants), Disability Protection, Long Term Care, Critical Illness, Cancer Insurance, Hospital Indemnity, Accident coverage (Paycheck Protector Plus), and Dental Coverage. These products are bundled with administrative services including Third Party Administration, payroll deduction processing, customer care support, and Benefits Representatives who conduct enrollment at worksites. The company positions itself as a one-stop shop for voluntary benefits, providing access to multiple insurance carriers including Transamerica, Allstate, Dearborn National, and Baltimore Life Insurance Company.

Differentiator

Problem solved

Functional benefit

Products and services

• Life Insurance

Quantifiable outcome

• SF&C has never lost a Client Group in over 38 years of operation

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• TransamericacoreChannel Partner/ Reseller/ DistributorMajor insurance carrier partner represented by SF&C for voluntary benefits products. Transamerica provides critical illness and other insurance products through SF&C's distribution network to union members.
• AllstatecoreChannel Partner/ Reseller/ DistributorNational leading insurance company represented by SF&C for voluntary benefits distribution to union and affinity group members.
• Dearborn NationalcoreChannel Partner/ Reseller/ DistributorInsurance carrier partner providing voluntary benefits products through SF&C's worksite marketing distribution.
• Baltimore Life Insurance CompanycoreChannel Partner/ Reseller/ DistributorInsurance carrier partner offering whole life and other insurance products through SF&C's voluntary benefits platform.
• Baltimore Life SECURE SOLUTIONScoreChannel Partner/ Reseller/ DistributorWhole life insurance product offering lifetime protection and guaranteed level death benefit at a level rate, distributed through SF&C.
• VantiscoreChannel Partner/ Reseller/ DistributorWhole life insurance policy for seniors aged 50-80, available only to union members and families. Guaranteed acceptance with no medical exams.
• CHUBBcoreChannel Partner/ Reseller/ DistributorAccident insurance coverage provider offering guaranteed issue, renewable and fully portable accident protection for union members.
• Colorado BankersminorChannel Partner/ Reseller/ DistributorInsurance carrier mentioned in client success story providing disability and annuity coverage.
• Workers UnitedcoreStrategic or Co-development PartnerLabor union that endorses SF&C's voluntary benefits programs. Benefits Representatives and Managers are members of Workers United, demonstrating commitment to serving union members.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Colonial Life: A leading voluntary benefits carrier-distributor that uses worksite enrollment and payroll-deduction distribution to employer groups and unions. Highly comparable GTM motion, product mix (disability, accident, cancer, life), and channel to SF&C.
• Washington National Insurance Company: Specialty carrier focused on supplemental health and voluntary worksite benefits to employer groups and union members. Closely comparable product set (cancer, accident, hospital indemnity) and affinity-group distribution model.
• Allstate Benefits: Allstate's voluntary benefits division distributing supplemental insurance (life, disability, accident, critical illness) through worksite and broker channels. SF&C is already an Allstate distribution partner, making the channel overlap direct.

Broad incumbents

• Aflac: The dominant U.S. worksite/voluntary benefits carrier with a parallel distribution model of agents meeting employees at their workplaces. Compares to SF&C on product (accident, disability, cancer) and worksite sales motion, but at massive national scale and as a carrier rather than agency.
• Cigna Group Insurance (Supplemental Health): Major carrier offering voluntary/specialty benefits including accident, critical illness, hospital indemnity and life through employers. Comparable product portfolio and employer/worksite distribution, though at much larger scale and as an underwriter.
• Transamerica (Group Benefits): National carrier whose critical illness, life, and disability products SF&C distributes. Direct overlap on product mix and distribution channel; SF&C is dependent on Transamerica as a key carrier partner.
• Lincoln Financial Group (Group Protection): Major carrier of group disability, life, dental and voluntary benefits sold through brokers and worksite channels. Comparable voluntary benefits product suite and employer distribution motion.
• CHUBB Group Insurance (Accident & Health): Accident insurance carrier partner to SF&C for guaranteed-issue, portable accident coverage for union members. Comparable supplemental product focus and worksite distribution.

Emerging players

• AssuredPartners: Rapidly growing U.S. insurance brokerage focused on employee benefits and voluntary benefits. Comparable benefits-agency business model but with multi-line P&C and broader geographic footprint.
• OneDigital: Employee benefits and voluntary benefits consulting/brokerage platform serving employers and affinity groups. Comparable voluntary-benefits advisory role, though with technology-driven delivery and national reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 SF&C Insurance Associates