Tristar Insurance Group
TRISTAR Insurance Group is the nation's largest independent third-party claims administrator, providing integrated claims, managed care, benefits administration, absence management, and risk control services to self-insured employers, insurance carriers, and public entities across all 50 U.S. states.
- Company typePrivate
- Founded1987
- HeadquartersLong Beach, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Tristar Insurance Group does
TRISTAR Insurance Group, founded in 1987 and headquartered in Long Beach, California, is the nation's largest independent third-party claims administrator (TPA), operating across all 50 U.S. states with 1,000+ employees. The company provides integrated claims administration, managed care, benefits administration, absence and disability management, and risk control services to self-insured employers, insurance carriers, and public entities (including municipalities, school districts, and counties). Core service lines encompass Workers' Compensation, General Liability, Auto Liability, Professional Liability, Property, and Subrogation claims handling, supplemented by managed care offerings such as bill review, case management, utilization review, nurse triage, pharmacy benefit management (AspenCompRx), and wellness programs (ManageWell).
The company's technology backbone is the TRISTAR Connect platform, a unified environment consolidating legacy systems (iCAST, iPlus, iClaims) with modern modules including the Workers' Compensation platform (released April 2025), the forthcoming Liability Platform (January 2026), and a redesigned Reports Tool (March 2026). Additional technology assets include the TRISTAR Mobile App with an AI-powered chatbot for claimant self-service (launched 2024), NotePad 2.0 for integrated email communication, ERGOhealthy for remote ergonomic assessments, and the QicLink Benefits Exchange portal (powered by Cognizant TriZetto) for benefits administration. The company holds URAC Workers' Compensation Utilization Management accreditation (renewed with a 100% audit score), HIPAA One certification, and ADA/WCAG compliance through a Level Access partnership.
TRISTAR generates revenue primarily through managed-services arrangements — administrative fees, per-claim processing fees, and multi-year service agreements with self-insured employers, insurance carriers, and public entities. The go-to-market motion relies on direct enterprise field sales, regional sales directors, broker and agent partnerships, and dedicated subsidiary channels (notably Aspen Risk Management Group). The company has completed four acquisitions in five years (Aspen Risk Management Group in 2020, Matrix in 2021, Hazelrigg Claims Management in 2021, and FCS Claims in 2022) and is privately held with no disclosed institutional or private equity ownership.
Tristar Insurance Group firmographics
Firmographics- Name
- Tristar Insurance Group
- Legal name
- TRISTAR Insurance Group
- Website
- https://tristargroup.net
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- TRISTAR Insurance Group is the nation's largest independent third-party claims administrator, providing integrated claims, managed care, benefits administration, absence management, and risk control services to self-insured employers, insurance carriers, and public entities across all 50 U.S. states.
- Ownership category
- akta.pro rank
Tristar Insurance Group industry classification
Industry- Product category
- Third-Party Claims Administration (Insurance/TPA Services)
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)
- akta.pro primary industry
- Workers’ Compensation & Occupational Health TPA (HLAEALAL)
- akta.pro secondary industries
- Care Management & Population Health Program Administration (HLAEALAG), Ancillary Benefits TPA (Dental/Vision/Life/Accident/Critical Illness) (HLAEALAN), Compliance, Reporting & Regulatory Administration (ERISA/ACA/No Surprises) (HLAEALAJ)
Keywords
Where Tristar Insurance Group is headquartered
LocationHeadquarters
- HQ city
- Long Beach
- HQ country
- United States
- HQ region
- North America
Offices7 records
Markets served
Tristar Insurance Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Third-Party Claims Administration: TRISTAR serves as a TPA providing claims management services to self-insured employers, insurance carriers, and public entities. Revenue is generated through administrative fees, per-claim processing fees, and service agreements for workers' compensation, liability, property, and professional liability claims.
- Benefits Administration Services: Third-party administrator for self-funded health plans serving over 275 companies, including medical, dental, vision, prescription benefit services, and Section 125 cafeteria plans. Revenue generated through per-participant fees and administrative service charges.
- Managed Care Services: Integrated managed care services including bill review, case management, utilization review, nurse triage, pharmacy benefit management, and wellness programs. Revenue through per-service fees and negotiated arrangements with employers and carriers.
- Risk Control Services (Aspen Risk Management): Safety consulting, loss control, ergonomics assessments, and workplace safety training services. Provided through Aspen Risk Management Group, a TRISTAR company.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Customized TPA service agreements |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
Tristar Insurance Group product offering
Product offeringCore offering
Tristar Insurance Group is a third-party administrator (TPA) providing integrated claims administration, managed care, benefits administration, and risk control services to self-insured employers, insurance carriers, and public entities across all 50 U.S. states. The company administers workers' compensation, liability, property, and auto claims; delivers managed care services including bill review, case management, utilization review, nurse triage, and pharmacy benefit management; provides self-funded employee group benefits administration; and offers workplace safety, loss control, and ergonomics consulting through subsidiaries Aspen Risk Management Group, AspenCompRx, and ERGOhealthy.
Product overview
TRISTAR Insurance Group operates as the nation's largest independent third-party claims administrator, offering a unified TRISTARConnect platform that consolidates legacy systems (iCAST, iPlus, iClaims) into an integrated claims management environment. The portfolio includes Property & Casualty Claims Management (Workers' Compensation, General Liability, Auto, Professional Liability, Property, Subrogation), Managed Care Services (Bill Review, Case Management, Utilization Review, Nurse Triage, AspenCompRx PBM, Wellness), TRISTAR Benefit Administrators for employee benefits (QicLink Benefits Exchange), Absence & Disability Management, and Aspen Risk Management Group for safety/ergonomics (ERGOhealthy). A claimant-facing Mobile App with AI chatbot capabilities extends access to injured workers, while extensive provider networks (TMCNet, GoProspecta) support healthcare coordination.
Differentiator
Problem solved
Functional benefit
Brands
- AspenCompRx: Pharmacy benefit management (PBM) program developed to meet the unique needs of workers' compensation clients
- ERGOhealthy
- TRISTAR Mobile App
- TRISTAR Connect
Products and services
- TRISTAR Connect Platform Unified, integrated claims and risk management platform consolidating multiple legacy systems (iCAST, iPlus, iClaims) into a cohesive environment with connected capabilities across property casualty, absence management, and reporting tools. Used by TRISTAR examiners and clients to manage workers' compensation, liability, and absence claims.
- Property & Casualty Claims Management Comprehensive P&C claims administration services covering Workers' Compensation, General Liability, Auto Liability, Professional Liability, Property, and Subrogation. Provided to self-insured employers, insurance carriers, and public entities.
- Managed Care Services Integrated managed care offerings including Bill Review, Case Management, Utilization Review, Nurse Triage, Pharmacy Benefit Management, and Wellness Programs. Delivered to employers, insurance carriers, and public entities through TRISTAR Managed Care (TMC).
- TRISTAR Benefit Administrators Third-party administrator for employee group benefits serving 275+ companies with self-funded health plans, medical/dental/vision/prescription administration, Section 125 plans, COBRA administration, and compliance management.
- Absence & Disability Management Comprehensive absence management including Leave of Absence, ADA, Salary Continuation, Disability Claims (STD/LTD), and State Disability (CA VDI, HI TDI) administration. Includes iClaims system integration.
- Aspen Risk Management Group Risk control and safety services offering workplace safety consulting, loss control, ergonomics assessments, and regulatory compliance support. Wholly owned subsidiary of TRISTAR acquired in 2020.
- AspenCompRx Pharmacy Benefit Management (PBM) solution with custom formularies, opioid management, drug utilization reviews, and weaning plans; reported savings of over 38% below fee schedule in medication costs.
- TRISTAR Mobile App Claimant-facing mobile application enabling injured workers to access and manage their workers' compensation claims 24/7, communicate with examiners via an AI-powered chatbot, and receive real-time claim updates including payments and examiner information.
Quantifiable outcome
- 38% below fee schedule savings on medication costs
- +5 more outcomes
Companies that use Tristar Insurance Group
Customer profileNamed customers9 records
Segments6 records
Ideal customer profiles4 records
Tristar Insurance Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability4 records
Feature7 records
Tristar Insurance Group partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Level AccesscoreTRISTAR partnered with Level Access, a leading digital accessibility consulting firm, to ensure full compliance with ADA and WCAG digital accessibility standards. Level Access conducts thorough reviews of TRISTAR's digital platforms and implements necessary updates for ongoing accessibility compliance. The partnership ensures digital access is a priority across TRISTAR's digital services.
- Kids' Chance of AmericacoreTRISTAR committed $100,000 over four years to Kids' Chance of America, reinforcing values of compassion and community support. The partnership strengthens the national network and increases support for state chapters like Florida, helping children of parents with workplace injuries.
- Kids' Chance of FloridacoreTRISTAR supports Kids' Chance of Florida through leadership involvement (Tammy Boyd as incoming President) and fundraising support. The organization's 5th Annual Golf Tournament raised $87,000 in 2025, with TRISTAR's commitment supporting scholarship programs for children of parents with workplace injuries.
- Larimer County, ColoradocoreTRISTAR has served as Larimer County's third-party administrator since 2002, supporting claims management, developing feedback tools, and aligning service strategies with long-term results. Jeff Green, Larimer County Risk Manager, received PRIMA's 2025 Risk Manager of the Year award.
Scale indicators13 records
Recent moves6 records
Expansion highlights6 records
Tristar Insurance Group competitors and assessment
Company assessmentDirect peers
- Sedgwick: Sedgwick is the largest third-party claims administrator globally, offering workers' compensation, liability, disability, and absence management. It is the most direct large-scale competitor to TRISTAR across virtually every TPA service line.
- Gallagher Bassett: Gallagher Bassett is a major TPA providing workers' comp, liability, and claims management for self-insured employers and carriers. It directly competes with TRISTAR in enterprise claims administration and managed care.
- ESIS (Chubb): ESIS is Chubb's in-house TPA providing workers' compensation, liability, and property claims administration to large self-insureds. It is a direct competitor, especially for carrier-affiliated and large employer mandates.
- CorVel Corporation: CorVel is a publicly traded national TPA offering workers' comp, managed care, and integrated claims management. It competes head-to-head with TRISTAR in P&C claims and managed care, including bill review and nurse triage.
- Helmsman Management Services (Liberty Mutual): Helmsman is Liberty Mutual's TPA serving self-insured employers with workers' compensation, auto, and liability claims administration. It is a direct competitor in the self-insured employer market.
- Broadspire (Crawford & Company): Broadspire, a Crawford company, provides third-party claims administration and managed care for workers' compensation and liability. It competes directly with TRISTAR for large employer and carrier clients.
- Cannon Cochran Management Services (CCMSI): CCMSI is an independent TPA providing workers' compensation, liability, and property claims administration, frequently competing with TRISTAR for self-insured employer and public entity contracts.
- PMA Companies: PMA Companies provides workers' comp, auto, and liability TPA services plus managed care to self-insureds and public entities. It is a direct peer for TRISTAR's property & casualty claims business.
- Meritain Health: Meritain Health is a third-party administrator of self-funded health plans, offering medical, dental, and PBM services. It directly competes with TRISTAR Benefit Administrators in the self-funded benefits TPA segment.
Broad incumbents
- One Call Care Management: One Call is a large specialty managed care services provider for workers' compensation, including diagnostics, physical therapy, and dental. It overlaps with TRISTAR's managed care and nurse triage offerings for workers' comp.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Tristar Insurance Group social profiles
Digital presenceTristar Insurance Group compliance and trust
Trust signalCompliance6 records
Tristar Insurance Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Tristar Insurance Group leadership team
Management profileNumber of profiles
Profiles18 records
Tristar Insurance Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
Tristar Insurance Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Tristar Insurance Group M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Tristar Insurance Group
What does Tristar Insurance Group do?
Tristar Insurance Group is a third-party administrator (TPA) providing integrated claims administration, managed care, benefits administration, and risk control services to self-insured employers, insurance carriers, and public entities across all 50 U.S. states. The company administers workers' compensation, liability, property, and auto claims; delivers managed care services including bill review, case management, utilization review, nurse triage, and pharmacy benefit management; provides self-funded employee group benefits administration; and offers workplace safety, loss control, and ergonomics consulting through subsidiaries Aspen Risk Management Group, AspenCompRx, and ERGOhealthy.
Is Tristar Insurance Group a public or private company?
Tristar Insurance Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Tristar Insurance Group founded?
Tristar Insurance Group was founded in 1987. It employs 501 to 1,000 people.
Where is Tristar Insurance Group based?
Tristar Insurance Group is headquartered in Long Beach, United States, in the North America region.
How does Tristar Insurance Group make money?
Four revenue lines are on record. Third-Party Claims Administration is the primary driver. The others are benefits Administration Services, managed Care Services and risk Control Services (Aspen Risk Management).
Who are Tristar Insurance Group's main competitors?
Direct peers on record are Sedgwick, Gallagher Bassett, ESIS (Chubb), CorVel Corporation, Helmsman Management Services (Liberty Mutual), Broadspire (Crawford & Company), Cannon Cochran Management Services (CCMSI), PMA Companies and Meritain Health. One Call Care Management is listed as a broad incumbent.
Does Tristar Insurance Group have an API?
No public API is recorded for Tristar Insurance Group.
What industry is Tristar Insurance Group in?
Tristar Insurance Group's product category is Third-Party Claims Administration (Insurance/TPA Services). Its primary akta.pro industry code is HLAEALAL, Workers’ Compensation & Occupational Health TPA, with a secondary code of HLAEALAG, Care Management & Population Health Program Administration. Its NAICS code is 524292 and its SIC code is 6411.