Insurance Marketing Agencies

What Insurance Marketing Agencies does

Insurance Marketing Agencies (IMA) is a privately held, family-owned independent insurance brokerage founded in 1924 in Worcester, Massachusetts, currently in its fourth generation of Herman-family leadership. The firm operates three offices in Worcester, Danvers, and East Falmouth, with a team of 50+ licensed insurance professionals serving more than 2,500 commercial and personal clients nationwide, including a transportation division licensed in all 50 states. IMA generates revenue primarily through commissions earned by placing business with 70–80+ insurance carriers across commercial lines (property, general liability, auto, workers comp, cyber, specialty), personal lines (home, auto, yacht, umbrella, jewelry, flood, trip), and employee benefits (medical, dental, life, disability via the Apex Benefits Partners partnership).

The business is structured around three core operating segments: Business/Commercial insurance (including the IMA Transportation specialty division), Personal Insurance, and Employee Benefits via IMA Group Benefits. Distribution is overwhelmingly sales-led through 50+ professionals delivering customized risk-management solutions, augmented by online quote requests, a Vertafore-based client portal for certificates and policy changes, and ePayPolicy for billing. Recent strategic emphasis has been on inorganic growth via the 2025 mergers with Bullock Insurance Agency and DPS Insurance Group, expanding South Shore and central Massachusetts presence.

IMA's technology stack consists of standard third-party insurance infrastructure rather than proprietary AI or data platforms: Vertafore client portal, ePayPolicy payment processing, Neptune Insurance's self-service flood portal (covering limits up to $4M property and $500K contents), and the InsureMyTrip travel-insurance recommendation engine. The firm's competitive position rests on carrier breadth (70–80+ direct appointments), century-old brand equity in New England, multi-generational client relationships, and specialized expertise in construction, real estate, manufacturing, transportation, and non-profit verticals.

Name

Insurance Marketing Agencies

Legal name

Insurance Marketing Agencies, Inc.

Website

https://imaagency.com

Company type

Private

Founded year

1924

Operating status

Operating

Headcount range

51–100 employees

Short description

Insurance Marketing Agencies is a fourth-generation, family-owned independent insurance brokerage founded in 1924 in Worcester, MA, providing commercial, personal, and employee benefits coverage to 2,500+ clients nationwide through 50+ professionals and 70+ carrier relationships.

Ownership category

akta.pro rank

Headquarters

HQ city

Worcester

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: IMA operates as an independent insurance agency earning commissions from multiple insurance carrier relationships. The agency represents over 70+ insurance carriers across business, personal, and employee benefits lines. Revenue is generated through commissions on insurance policies placed with carrier partners.
2. Employee Benefits Consulting: Group benefits consulting services through partnership with Apex Benefits Partners, providing health care cost solutions, HR support, and ACA compliance assistance to employers

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Insurance Marketing Agencies (IMA) is an independent insurance brokerage that places commercial, personal, and employee benefits coverage for clients through 70+ direct insurance carrier markets. The agency sells Business Insurance Solutions (property, liability, auto, workers compensation, cyber, specialty), Employee Benefits Solutions (group benefits and individual life), and Personal Insurance Solutions (home, auto, boat/yacht, umbrella, valuables, flood, trip), with dedicated divisions including IMA Transportation and IMA Group Benefits. Services include risk placement, claims advocacy, and account advisory delivered by 50+ insurance professionals across the U.S.

Product overview

Insurance Marketing Agencies (IMA) is a multi-line independent insurance agency offering a comprehensive portfolio of insurance products and risk management services. The agency provides Business Insurance Solutions covering property, general liability, automobile liability, workers compensation, and cyber risk liability, alongside a Specialty Coverages division including transportation insurance through IMA Transportation. For individuals, IMA offers Personal Insurance including home, auto, boat/yacht, umbrella, jewelry/fine art, flood, and trip insurance, as well as Individual Life Insurance. The agency also operates IMA Group Benefits providing employee benefits including medical, dental, vision, disability, and various voluntary benefits. The portfolio includes strategic partnerships with Apex Benefits Partners for group benefits and The Marcus Agency for life insurance. Services are delivered through Vertafore Client Portal and ePayPolicy payment systems.

Differentiator

Problem solved

Functional benefit

Brands

• IMA Transportation: A division of IMA providing trucking and transportation insurance solutions including fleet insurance, motor truck cargo, workers compensation, and compliance services for transportation companies.
• IMA Group Benefits

Products and services

• Business Insurance Solutions (Commercial Lines) Multi-line commercial insurance brokerage solution for business clients, covering Business Property Coverage, General Liability, Automobile Liability, Workers Compensation Insurance, CyberRisk Liability, and Specialty Coverages. Designed for small-to-mid-market businesses seeking multi-line carrier comparison and ongoing service.
• IMA Transportation (Transportation Insurance) Specialty transportation insurance brokerage offered by the IMA Transportation division, providing commercial auto liability and fleet insurance placement for trucking and transportation businesses across all 50 states. Led by VP Transportation John Denman.
• Employee Benefits Solutions (IMA Group Benefits) Group benefits and individual life insurance brokerage for employers, packaged as IMA Group Benefits Core Group Products and Individual Life Insurance, and supported through the Apex Benefits Partners partnership. Designed for HR/Benefits leaders seeking carrier comparison and renewal support.
• Personal Insurance Solutions Multi-line personal insurance brokerage for individuals and households, covering Home Insurance, Auto Insurance, Boat and Yacht Insurance, Umbrella Policies, Jewelry/Fine Art/Valuables Insurance, Flood Insurance, and Trip Insurance. Designed for personal insurance buyers seeking bundled coverage and specialty personal lines expertise.

Quantifiable outcome

• One of New England's largest independent insurance agencies with 2,500+ clients
• +1 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Apex Benefits PartnerscoreStrategic or Co-development Partner · 1 January 2025Strategic partnership with Apex Benefits Partners to deliver elevated employee benefits consulting services. Apex brings fresh energy, sharp thinking, and a modern, client-obsessed mindset, focusing on creating healthy, thriving organizations through smart strategy, cultural alignment, and holistic view of the employee lifecycle.
• The Marcus AgencycoreStrategic or Co-development PartnerLong-standing strategic partnership with The Marcus Agency, a nationally respected life and health brokerage known for expertise in complex underwriting, high-net-worth estate planning, and long-term care strategies.
• Neptune InsurancecoreTechnology or IntegrationPartnership with Neptune Insurance to offer private flood insurance alternatives to NFIP. Neptune provides a self-service portal where residential property owners can buy affordable flood coverage with broader coverage than government programs.
• DPS Insurance GroupcoreStrategic or Co-development PartnerMerger with Quincy-based DPS Insurance Group (founded 2012 by Dan and Debbie Sullivan) to expand South Shore presence. DPS team joins IMA family, adding deep expertise and reinforcing IMA's personalized service model.
• InsureMyTripminorChannel Partner/ Reseller/ DistributorPartnership with InsureMyTrip for trip insurance comparison and sales, providing customers access to thousands of travel insurance plans through their recommendation engine.
• MineralminorStrategic or Co-development PartnerPartnership with Mineral to offer HR and compliance solutions to Benefits clients, providing expert guidance, proactive compliance updates, and easy-to-use tools for building a compliant workplace.
• Trusted ChoiceminorGTM or Marketing PartnerMembership in Trusted Choice independent insurance agent network, providing brand credibility, referral connections, and access to industry resources.
• 80+ Insurance CarrierscoreChannel Partner/ Reseller/ DistributorPartnership with 80+ insurance carriers across business, personal, and employee benefits lines including AIG, Chubb, Hartford, Travelers, Nationwide, Liberty Mutual, MetLife, and many others, providing access to diverse coverage options and competitive pricing.

Scale indicators6 records

Recent moves11 records

Expansion highlights6 records

Regional players

• Norfolk & Dedham Group: New England-based mutual insurance organization offering personal and commercial lines through captive and independent distribution. Comparable regional concentration and multi-line agency/brokerage overlap with IMA.

Broad incumbents

• Hub International: Major North American insurance brokerage with strong property/casualty, benefits, and personal lines practices. Comparable product breadth to IMA but operates nationally at substantially larger scale.
• Acrisure: Large national insurance brokerage built through aggressive roll-up of independent agencies. Represents the strategic acquirer profile and competitive pressure facing independent agencies like IMA.
• Brown & Brown: National insurance brokerage built largely through roll-up of regional independents, including New England agencies. Demonstrates the roll-up trajectory available to agencies like IMA and competes for similar commercial and benefits accounts.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with deep commercial, benefits, and specialty capabilities. Competes for mid-market and large commercial accounts that IMA serves.
• Marsh McLennan: World's largest insurance brokerage and risk advisory firm. Max Herman's prior employment at Marsh signals the talent pool overlap; competes indirectly for larger commercial and benefits clients IMA serves.
• USI Insurance Services: Large national insurance brokerage serving commercial and personal clients across all major lines including benefits. Operates at significantly greater scale than IMA but competes for the same mid-market and commercial accounts.

Direct peers

• The Rowley Agency: Independent insurance agency in New England offering commercial, personal, and benefits products. Smaller scale than IMA but similar independent multi-line agency model in overlapping geography.
• Acclaim Insurance Services: Independent insurance agency serving New England with multi-line personal, commercial, and benefits offerings. Comparable independent agency model in overlapping geography.
• Cross Insurance: One of the largest independent insurance agencies in New England, headquartered in Maine with full multi-line commercial, personal, and benefits capabilities. Closest comparable in geography, agency model, and family ownership profile to IMA.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/insurancemarketingagencies
• LinkedInlinkedin.com/company/insurance-marketing-agencies
• Xx.com/imaagency

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 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 Insurance Marketing Agencies