Sterling Insurance Agency

What Sterling Insurance Agency does

Sterling Insurance Agency is a privately held, family-owned independent insurance agency founded in 1929 and headquartered in Beverly, Massachusetts. The firm operates as an independent brokerage representing multiple top-rated carriers—including MAPFRE Insurance, Andover Companies, Arbella Insurance, and Aflac—to offer a comprehensive portfolio spanning auto, homeowners, condo, renters, investment property, business, boat, life, umbrella, motorcycle, and flood insurance. It differentiates through value-added services such as in-house Electronic Vehicle Registration (EVR), free RMV/registry running, and text-based customer support, none of which rely on proprietary technology or AI.

The business is controlled by the Mooney family across four generations. Richard F. "Dick" Mooney led the agency from 1983 until his 2014 retirement, after which his son Rick Mooney—President since 2002—took operational leadership. The fourth generation (Chris Mooney as Business Development Manager and Licensed Broker; Connor Mooney as Agent and incoming Beverly Rotary Club President) is active in the business. The firm employs 1–10 staff and earns revenue through commissions paid by carrier partners on policies sold and renewed; pricing is quote-based with monthly cadence and includes a 5% personal auto discount for Pan-Mass Challenge donors.

Sterling's go-to-market is community-led, built on local sponsorships (Kiwanis Bike Rodeo, Greater Beverly Chamber events, Beverly Rotary), first-time homebuyer seminars, blog content on sterling-insurance.com, 208+ Google reviews, and word-of-mouth referrals. Distribution runs through the Beverly office, phone, text, and website quote requests. The firm has expanded through the 2023 acquisition of Morgan-McPherson Insurance Agency (founded 1918) and a May 2025 relocation to a larger office at 186 Cabot Street, Suite 203. No external funding, private equity, or institutional capital is disclosed.

Name

Sterling Insurance Agency

Legal name

Sterling Insurance Agency, Inc

Website

https://sterling-insurance.com

Company type

Private

Founded year

1929

Operating status

Operating

Headcount range

1–10 employees

Short description

Sterling Insurance Agency is a family-owned independent insurance brokerage in Beverly, Massachusetts, serving North Shore consumers and small businesses with multi-line personal and commercial coverage across multiple carriers, plus RMV support.

Ownership category

akta.pro rank

Product category

Independent Insurance Agency

NAICS

Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Personal Auto Insurance (FSAJAMAA)

akta.pro secondary industry

Personal Umbrella Insurance (FSAJANAA)

Keywords

• Independent insurance agency
• Personal insurance brokerage
• Commercial insurance coverage
• Multi-carrier insurance agency
• Massachusetts insurance services

Headquarters

HQ city

Beverly

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Insurance Commissions: As an independent insurance agency, Sterling generates revenue through commissions paid by insurance carriers for policies sold and renewed. Partners with multiple top-rated insurance carriers to offer competitive coverage options.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Sterling Insurance Agency is an independent insurance brokerage that sells personal and commercial insurance policies by comparing coverage and premiums across multiple top-rated carriers. Its product portfolio spans auto, home, condo, renters, investment property, business, boat, life, umbrella, motorcycle, and flood insurance, supported by free RMV/registry services, in-house Electronic Vehicle Registration (EVR), and text-based customer support.

Product overview

Sterling Insurance Agency operates as an independent insurance agency offering a comprehensive portfolio of insurance products and services. The core offerings include auto, home, condo, renters, investment property, business, boat, life, umbrella, motorcycle, and flood insurance. The agency differentiates itself through value-added services including in-house Electronic Vehicle Registration (EVR) for same-day remote vehicle registration, free registry running services, and text messaging support. Through partnerships, they also offer Aflac benefit solutions including dental, vision, accident, hospital indemnity, disability, critical illness, and cancer insurance. The agency leverages technology to provide efficient customer service while maintaining a community-focused approach serving the North Shore of Massachusetts.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance

Quantifiable outcome

• 5% auto insurance discount for Pan-Mass Challenge donors; Customers have saved over $65,000 in auto insurance premiums through the PMC discount program
• +1 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core.

• AflaccoreChannel Partner/ Reseller/ Distributor · 1 February 2022Partnership with Aflac to offer supplemental insurance products including dental, vision, accident, hospital indemnity, short-term disability, critical illness, and cancer insurance. Added after researching benefit packages for employees and finding Aflac offered the best options at reasonable costs.
• Arbella InsurancecoreChannel Partner/ Reseller/ Distributor · 1 May 2020Arbella Insurance joined as a business partner providing another insurance carrier option for Sterling's clients. Arbella is a regional carrier with over 30 years in New England, offering auto, home, business, and other insurance products. They have six claim offices in New England and are known for community involvement including Jimmy Fund, Dana-Farber, Impact Melanoma, and Special Olympics partnerships.
• MAPFRE InsurancecoreChannel Partner/ Reseller/ DistributorOne of the primary insurance carriers represented. Named #1 Value in Massachusetts Auto Insurance by ValChoice with a score of 92/100 based on 2016-17 data from Division of Insurance.
• Andover CompaniescoreChannel Partner/ Reseller/ DistributorHome insurance carrier partner named one of 6 Best Home Insurance Companies of 2024 by NerdWallet.
• Multiple Insurance CarrierscoreChannel Partner/ Reseller/ DistributorAs an independent agency, partners with a broad network of top-rated and financially strong insurance carriers to compare coverage and premiums across multiple companies.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Cross Insurance: Cross Insurance is a large independent insurance agency headquartered in Maine with strong New England presence across MA, NH, ME, and RI. It is comparable to Sterling as an independent agency/brokerage representing multiple carriers to serve personal and commercial lines for individuals, families, and businesses — though at meaningfully larger scale.
• Fred C. Church Insurance: Fred C. Church Insurance is a Massachusetts-based independent insurance agency founded in 1865 serving individuals, families, and businesses across New England. It is a direct peer to Sterling — same independent agency model, same regional North Shore/New England footprint, and overlapping personal/commercial lines product portfolio.

Broad incumbents

• HUB International Limited: HUB International is one of the largest North American insurance brokerages, offering personal, commercial, life, and employee benefits across the U.S. and Canada. It is a broad incumbent comparable to Sterling in that it operates as an insurance intermediary representing multiple carriers — but with national scale, proprietary digital platforms, and PE ownership (Hub International is owned by The Jordan Company and other sponsors).
• Arthur J. Gallagher & Co. Arthur J. Gallagher & Co. is a global insurance brokerage and risk management firm serving commercial and individual clients with property/casualty, benefits, and risk consulting. It is a broad incumbent comparable to Sterling through its agency/brokerage model placing business across multiple carriers, though operating at vastly larger scale globally.
• Brown & Brown, Inc. Brown & Brown is one of the largest U.S. insurance brokerages, distributing commercial and personal lines plus specialty programs through a decentralized network of offices. It is a broad incumbent comparable to Sterling as a multi-carrier intermediary for personal and commercial lines, with a comparable decentralized local-office model.
• The Hilb Group: The Hilb Group is a middle-market insurance and benefits brokerage with offices across the eastern and southern U.S., placing property/casualty, life, and benefits through carrier relationships. It is a broad incumbent comparable to Sterling as a multi-carrier agency with a regional/local-office acquisition strategy and overlapping personal-and-commercial lines mix.
• Acrisure LLC: Acrisure is a large, PE-backed insurance brokerage and financial services firm offering commercial, personal, and benefits solutions globally. It is a broad incumbent comparable to Sterling through its multi-carrier brokerage model, although operating at substantially greater scale and with a tech-platform-driven consolidation strategy.

Others

• MAPFRE Insurance: MAPFRE Insurance is the U.S. arm of the Spanish-headquartered MAPFRE Group and a New England-focused property/casualty carrier. It is comparable to Sterling as an upstream carrier partner — Sterling represents MAPFRE products in Massachusetts — but it does not directly compete as an agency in the same customer-facing way; it underwrites and supplies the products Sterling distributes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sterling-insurance-agency-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Sterling Insurance Agency