Isurity

What Isurity does

iSurity, Inc. is a family-owned insurance company headquartered in High Point, North Carolina, founded by Cliff Baker in 1994 (with the company itself established in 1995 as a third-party administrator). It administers Carolina Mutual Insurance (CMI), a mutual Workers' Compensation carrier formed in 2011 from the North Carolina Mutual Employers Fund, which holds the highest Demotech Financial Stability Rating of A" *Unsurpassed*. iSurity's core product is Workers' Compensation insurance for small- and mid-sized employers across seven states (NC, SC, GA, TN, VA, KY, PA), supported by human-driven underwriting, aggressive claims management, and practical loss control.

The company operates a proprietary technology stack consisting of an online Agent Portal (quote/bind, submission management) and an Insured Portal (claims reporting, payments, payroll reporting, policy management), accessible via web. Pricing is quote-based, with premium calculated from payroll, classification codes, and experience modification factors; multiple payment plans (monthly payroll reporting, 10 equal monthly payments, quarterly, or 3 monthly installments) are supported.

Commercially, iSurity distributes exclusively through independent insurance agents, supported by a VP of Business Development and a dedicated BDR team, paying 10–15% commissions. Through its subsidiary iSurity Special Risk (ISR), founded in 2004 as an MGA and wholesale brokerage, iSurity extends its product portfolio into miscellaneous Property & Casualty, Professional Liability, and Management Liability (D&O, Cyber, EPLI, etc.), sourcing underwriting capacity from highly rated carrier partners. Revenue is generated through Workers' Compensation premiums, MGA/brokerage commissions, and integrated risk management and claims services, all delivered with a stated human-driven service model that emphasizes real-person phone answering and urgency in agent and policyholder interactions.

Name

Isurity

Legal name

iSurity, Inc.

Website

https://isurity.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

iSurity is a family-owned insurance administrator and MGA based in High Point, NC, providing Workers' Compensation insurance through Carolina Mutual Insurance and specialty P&C, Professional, and Management Liability products through iSurity Special Risk (ISR) to small- and mid-sized employers across the Southeast and Mid-Atlantic via independent agents.

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Agencies and Brokerages (52421), Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)

akta.pro primary industry

Co-Employment Risk Management & Insurance (Workers’ Comp, Liability) (BPACAGAH)

akta.pro secondary industries

Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD), Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD)

Keywords

• Workers compensation insurance
• Property casualty insurance
• Managing general agent
• Insurance brokerage services
• Risk management services

Headquarters

HQ city

High Point

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Workers' Compensation Insurance Premiums: iSurity administers Carolina Mutual Insurance, collecting insurance premiums from small- and mid-sized employers for Workers' Compensation coverage. Premium is calculated based on payroll and experience modification factors.
2. Brokerage and MGA Commissions: iSurity Special Risk (ISR) operates as an MGA and wholesale brokerage earning commissions on Property & Casualty and Professional/Management Liability products placed through their carrier partners. Commissions range from 10%-15% for agents.
3. Risk Management and Claims Services: Provides loss control and risk management services to policyholders as part of the insurance offering, supporting aggressive claims management and experience modification protection.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

iSurity provides Workers' Compensation insurance through its administered carrier Carolina Mutual Insurance (CMI) and specialty Property & Casualty, Professional Liability, and Management Liability coverage through its MGA/brokerage arm iSurity Special Risk (ISR). The firm underwrites and services policies primarily for small- and mid-sized employers in the Southeast and Mid-Atlantic, distributed through independent insurance agents with access to a proprietary online quote/bind platform. Policyholders and agents are supported with online portals for quoting, claims reporting, payroll reporting, and payments.

Product overview

iSurity is a family-owned insurance solutions provider offering Workers' Compensation insurance through its administered carrier Carolina Mutual Insurance (CMI), along with specialty risk products via iSurity Special Risk (ISR). The core offering consists of human-driven underwriting and aggressive claims management for small- and mid-sized employers. ISR operates as an MGA and wholesale brokerage extending the portfolio with Miscellaneous P&C, Management Liability, and Professional Liability products. Both agents and policyholders access services through dedicated online portals with proprietary quote/bind technology.

Differentiator

Problem solved

Functional benefit

Brands

• iSurity Special Risk (ISR): MGA and wholesale brokerage offering coverage options for miscellaneous P&C exposures and Professional & Management Liability products including Cyber Liability, D&O, Employment Practices, and more.
• Carolina Mutual Insurance

Products and services

• iSurity Workers' Compensation Insurance Workers' Compensation coverage delivered through Carolina Mutual Insurance (CMI) with human-driven underwriting, aggressive claims management, and practical loss control services for small- and mid-sized employers in NC, SC, GA, TN, VA, KY, and PA.
• Carolina Mutual Insurance (CMI) Workers' Compensation Coverage Mutual insurance carrier administered by iSurity providing Workers' Compensation coverage with the highest Demotech Financial Stability Rating of A' *Unsurpassed*; covers NC, SC, GA, TN, VA, KY, and PA.
• iSurity Special Risk (ISR) Miscellaneous Property & Casualty MGA/brokerage Property & Casualty coverage including contractors and construction, bar/tavern/restaurant with liquor liability, vacant property, lessors risk only, environmental/pollution, inland marine, and active shooter coverage, placed through highly rated carrier partners.
• iSurity Special Risk (ISR) Management Liability

Quantifiable outcome

• Highest Demotech Financial Stability Rating (A' *Unsurpassed*) maintained through consistent profitability
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Carolina Mutual Insurance, Inc.coreStrategic or Co-development Partner · 1 January 2011Carolina Mutual Insurance is the insurance carrier administered by iSurity. Originally established as the North Carolina Mutual Employers Fund in 1994, it became a mutual insurance carrier in 2011. CMI provides Workers' Compensation coverage and maintains the highest Demotech Financial Stability Rating of A' *Unsurpassed*. iSurity seeks qualified employers to become policyholders of CMI.
• Highly Rated Carrier Partners (for ISR products)coreTechnology or IntegrationiSurity Special Risk maintains relationships with highly rated carrier partners offering broad forms and coverage for Property & Casualty, Professional Liability, and Management Liability products. These carriers provide the underwriting capacity for ISR's wholesale brokerage operations.

Scale indicators4 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Builders Mutual Insurance Company: Regional Workers' Compensation mutual carrier headquartered in North Carolina, focused on the construction industry across the Southeast. Most directly comparable to Carolina Mutual Insurance in geography, mutual structure, and SMB/mid-market employer focus.
• Employers Holdings (EIG): Publicly-traded Workers' Compensation specialist focused on small and mid-sized employers across U.S. states. Closely comparable line of business and customer segment to Carolina Mutual, though at significantly larger scale.
• ICW Group Insurance Companies: Workers' Compensation specialist focused on small and mid-sized businesses with multi-state operations. Comparable underwriting approach and product line to Carolina Mutual Insurance, with similar agent-driven distribution.
• Zenith Insurance Company: Specialty Workers' Compensation carrier with concentration in agriculture and other hard-to-place industries. Comparable niche WC focus and SMB employer customer profile to iSurity Special Risk's hard-to-place positioning.
• Burns & Wilcox: National wholesale insurance brokerage and MGA with extensive specialty P&C, Professional Liability, and Management Liability offerings distributed through retail agents. Closely comparable to iSurity Special Risk's brokerage and MGA operations.
• CRC Group: Wholesale insurance brokerage specializing in commercial and specialty lines including Professional Liability and Management Liability distributed through retail agents. Direct competitor to iSurity Special Risk in the wholesale brokerage space.
• Guard Insurance Group: Regional Workers' Compensation and commercial carrier focused on small and mid-sized businesses, distributed through independent agents. Comparable SMB-employer focus and agent-driven distribution model.
• Key Risk Management Services: Workers' Compensation services company (part of BlueCross BlueShield) providing WC insurance and claims management to employers in the Southeast U.S. Direct competitor to iSurity in regional WC markets.

Broad incumbents

• AmTrust Financial Services: Large Workers' Compensation and small commercial insurance carrier with significant SMB employer focus across the U.S. Overlaps with iSurity on WC and P&C product lines but operates at much larger scale and broader geographic reach.
• Accident Fund Holdings: Multi-state Workers' Compensation carrier with a mix of standard and specialty products, distributed through independent agents. Overlaps with iSurity on WC line and agent channel, at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Isurity