Virginia Insurance Services

What Virginia Insurance Services does

Virginia Insurance Services is a family-owned independent insurance agency founded in 1983 by Gene and Ruth Lastfogel and headquartered at 1 Park West Circle, Suite 100, Midlothian, Virginia. The firm serves individuals, families, and small businesses across the greater Richmond area (including Short Pump, Chester, Henrico County, and Midlothian) through a single office with a team of approximately seven staff. Its core products span auto, home, renters, life, health, and business insurance, supplemented by retirement and investment products such as IRAs and annuities.

The agency operates as an independent intermediary rather than a captive agent or carrier. It represents seven carrier partners — Erie Insurance, Travelers, Grange, Progressive, Mercury, Utica National, and Hartford — and earns transaction commissions on policies placed and renewed. There is no proprietary technology platform; operations rely on standard industry tools and partner carrier quoting and policy management systems. Distribution is sales-led and consultative, combining phone, email, in-person consultations at the Midlothian office, and an online quote-request funnel via policyjet.com. Marketing is relationship-driven, anchored by local community presence, customer testimonials, and referrals.

The Lastfogel family retains direct ownership and operational control. Gene Lastfogel serves as President and Ruth Lastfogel as Vice President, with Sheila Hite as an additional VP specializing in personal lines. Producer bench includes Mike Little, Rich Messler (formerly a Senior District Sales Manager at Erie Insurance), John Sensibaugh (P&C, joined circa 2020), and Opal Fisher in customer service. The firm has no disclosed funding, no M&A activity, no subsidiaries, and no public revenue figures.

Name

Virginia Insurance Services

Legal name

Virginia Insurance Services

Website

https://policyjet.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

1–10 employees

Short description

Virginia Insurance Services is a family-owned independent insurance agency founded in 1983 in Midlothian, Virginia. It serves individuals, families, and small businesses in the greater Richmond area across auto, home, life, health, business, and renters insurance lines via seven carrier partnerships.

Ownership category

akta.pro rank

Headquarters

HQ city

Midlothian

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, Technology or R&D, Infrastructure

Revenue model

1. Insurance Commissions: As an independent insurance agency, Virginia Insurance Services earns commissions from insurance carrier partners (Erie Insurance, Travelers, Grange, Progressive, Mercury, Utica National, Hartford) for policies placed. Commissions are earned on new policy sales and renewals across auto, home, life, health, business, and renters insurance lines.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Virginia Insurance Services is an independent insurance agency that sells personal and commercial insurance policies — auto, home, renters, life, business, and health — sourced from multiple carrier partners (Erie, Travelers, Grange, Progressive, Mercury, Utica National, Hartford). It also offers retirement products (IRAs, annuities) and operates a free, consultative quoting process for Virginia residents in the greater Richmond area.

Product overview

Virginia Insurance Services is an independent insurance agency offering a comprehensive portfolio of insurance products and financial services. The core product lineup consists of six main insurance categories: Auto Insurance, Home Insurance, Life Insurance, Business Insurance, Health Insurance, and Renters Insurance. Within Life Insurance, the company offers specialized sub-products including Term Life, Whole Life, Universal Life, and Group Life Insurance. Additionally, the company provides investment and retirement products including Traditional IRA, Roth IRA, SEP IRA, Simple IRA plans, and various annuity products. The company operates as an independent agency, partnering with multiple national insurance carriers including Erie Insurance, Travelers, Grange, Progressive, Mercury, Utica National, and Hartford Insurance to provide competitive quotes and coverage options.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance Auto insurance coverage provided through top-rated carrier partners for Virginia drivers, including claims service, policy coverage, and competitive pricing across multiple driver policies.
• Home Insurance Homeowners insurance covering rebuilding or repair costs, personal possessions replacement, living expenses during reconstruction, and liability coverage for injuries occurring on the property.
• Life Insurance Life insurance coverage including term, whole, universal, and group life products, plus investment options and annuities used for retirement planning for individuals and families.
• Health Insurance Health insurance coverage including basic health plans and major medical comprehensive plans for Virginia residents, covering employed, underemployed, self-employed, and unemployed individuals against high medical costs.
• Renters Insurance Affordable renters insurance protecting personal belongings from theft and damage, with liability coverage and potential bundling discounts with auto insurance.
• Business Insurance Tailored business insurance solutions for small business owners covering operations, equipment, employees, and liabilities, delivered through a four-step consultative process for comprehensive protection.
• IRA Plans and Annuities Retirement and savings products including Traditional, Roth, SEP, and Simple IRA plans with tax-deductible contribution options, plus annuities offering guaranteed interest rates and tax-deferred savings without annual contribution limits.

Quantifiable outcome

• 99% Employee Retention rate
• +1 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core.

• Erie InsurancecoreChannel Partner/ Reseller/ DistributorNational insurance carrier partnership. Virginia Insurance Services is an independent agency partner representing Erie Insurance for auto, home, and other insurance products.
• Travelers InsurancecoreChannel Partner/ Reseller/ DistributorMajor national insurance carrier. Virginia Insurance Services offers Travelers products as part of their carrier network for comprehensive coverage options.
• Grange InsurancecoreChannel Partner/ Reseller/ DistributorRegional/national insurance provider represented through Virginia Insurance Services independent agency network.
• Progressive InsurancecoreChannel Partner/ Reseller/ DistributorMajor national auto and home insurance carrier. Virginia Insurance Services offers Progressive products through their independent agency.
• Mercury InsurancecoreChannel Partner/ Reseller/ DistributorInsurance carrier represented through Virginia Insurance Services carrier network for auto and other insurance products.
• Utica National InsurancecoreChannel Partner/ Reseller/ DistributorNational insurance carrier partnered with Virginia Insurance Services for property and casualty insurance products.
• Hartford InsurancecoreChannel Partner/ Reseller/ DistributorMajor insurance carrier represented through Virginia Insurance Services independent agency for auto, home, and business coverage.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Hub International: Major North American insurance brokerage with deep multi-carrier distribution and personal/commercial lines; same core business model as Virginia Insurance Services but operating as a national incumbent via acquired agencies.
• Acrisure: Large-scale insurance brokerage and financial services firm operating across multiple carrier appointments; comparable business model (multi-carrier brokerage earning commissions), but at vastly larger scale and broader geography.
• Brown & Brown: National insurance brokerage that distributes across multiple carriers in personal and commercial lines; comparable independent broker model, much larger scale and broader geographic footprint.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm operating across hundreds of carrier appointments; comparable independent-broker revenue model, but serving enterprise and middle-market clients at national scale.

Direct peers

• Brightway Insurance: Franchise-based independent insurance agency network offering home, auto, and commercial coverage across multiple carriers; directly comparable independent agency business model, scaled through franchise ownership rather than single local operator.
• The Hilb Group: Mid-Atlantic regional insurance brokerage that acquires and operates local independent agencies across commercial and personal lines; directly comparable as a roll-up acquirer of agencies like Virginia Insurance Services in the Mid-Atlantic region.
• Goosehead Insurance: Independent insurance agency franchise model that places policies across multiple carriers; comparable to Virginia Insurance Services in being a multi-carrier independent agency, but operates nationally via franchisees rather than a single local office.

Others

• Erie Insurance: One of Virginia Insurance Services' named carrier partners; comparable because it is the upstream insurance carrier whose products the agency distributes, providing a structural reference point for commission economics and product set.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/virginiainsuranceservices

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Virginia Insurance Services