Preferred Insurance Services
Preferred Insurance Services is an independent insurance agency in Fairfax, Virginia serving the Washington DC Metro Area, with specialized practice groups for construction, restaurant, condominium, elevator, and technology industries plus personal lines, representing 20+ carriers.
- Company typePrivate
- Founded1996
- HeadquartersFairfax, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Preferred Insurance Services does
Preferred Insurance Services is an independent, privately-held insurance agency founded in 1996 and headquartered at 4100 Monument Corner Drive, Suite 400, Fairfax, Virginia. The firm serves individuals, families, and businesses in the Washington DC Metro Area through a multi-channel distribution model consisting of phone sales, online quote requests, in-person consultations, and the proprietary Preferred On Demand self-service portal. It also operates a national elevator insurance program extending beyond its core local footprint. It is privately held, with no disclosed private equity or venture capital backing, and is led by President Pat Sullivan, Partner Ryan Hogan, and General Manager Chip Henson.
The agency's product surface spans personal lines (auto, homeowners, personal umbrella), commercial lines (construction, restaurant, condominium, elevator, technology, and 40+ additional lines), health and group benefits (individual/family health, dental, vision, disability, long-term care, group health/dental/disability, 401(k), FSA/HSA), and life insurance (term, whole, universal, indexed, final expense, mortgage protection, buy/sell, key person). The core technology is a proprietary customer portal branded Preferred On Demand; a Certificate Department processing over 100,000 Certificates of Insurance in 2023 with 24–48 hour turnaround; and a PreferredComp MOD control program supporting construction contractors. The firm represents 20+ insurance carriers and is among the top five Erie Insurance agencies in the country and the largest in Virginia.
Revenue is generated as recurring commissions on policies placed and renewed across the carrier panel, with quotes provided on a case-by-case basis and billing typically monthly. The construction practice alone manages $65 million in client premium across more than 700 contractors; the restaurant practice serves over 600 restaurants in the DC metro area; the elevator practice is positioned as one of the few agencies in the country with a true national program. Preferred Insurance Services monetizes its independent agent status by shopping across carriers for each customer, providing specialized vertical expertise, and packaging claims management, risk management, and certificate handling as differentiated service layers.
Preferred Insurance Services firmographics
Firmographics- Name
- Preferred Insurance Services
- Legal name
- Preferred Insurance Services
- Website
- https://preferins.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Preferred Insurance Services is an independent insurance agency in Fairfax, Virginia serving the Washington DC Metro Area, with specialized practice groups for construction, restaurant, condominium, elevator, and technology industries plus personal lines, representing 20+ carriers.
- Ownership category
- akta.pro rank
Preferred Insurance Services industry classification
Industry- Product category
- Independent Insurance Agency Services
- NAICS
- Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)
- akta.pro secondary industries
- Small Group Health Insurance (2–50/100) (FSAIAFAD), Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD)
Keywords
Where Preferred Insurance Services is headquartered
LocationHeadquarters
- HQ city
- Fairfax
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Preferred Insurance Services business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure
Revenue model
- Insurance Commissions: As an independent insurance agency, Preferred Insurance Services earns commissions from insurance carriers for policies sold and renewals. They represent multiple insurance companies and work to find the best coverage at competitive prices for customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Quote-based insurance premiums |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels9 records
Preferred Insurance Services product offering
Product offeringCore offering
Preferred Insurance Services is an independent insurance agency that sells and services personal, commercial, health, life, and group benefits insurance policies on behalf of 20+ carrier partners including Erie Insurance, Travelers, Progressive, Nationwide, Chubb, and The Hartford. The agency specializes in vertical-specific commercial lines for construction, elevator, condominium, restaurant, and technology businesses, and supports customers with the Preferred On Demand self-service portal, a dedicated Preferred Certificate Department, and proactive claims management.
Product overview
Preferred Insurance Services is an independent insurance agency operating as a single-channel insurance brokerage, not a technology platform with modular products. The agency offers a broad portfolio of insurance products organized into five core categories: Personal Insurance (auto, homeowners, umbrella), Business Insurance (construction, elevator, condominium, restaurant, technology, and 40+ other commercial lines), Health Insurance (individual/family plans, dental, vision, disability, long-term care), Life Insurance (term, whole, universal, indexed, final expense, mortgage protection), and Group Benefits (dental, disability, health, 401(k), FSA, HSA). The agency also provides a proprietary customer service portal called Preferred On Demand for policy access and certificate management. As an independent agency representing 20+ insurance carriers, the products are distributed through licensed agents with no unified technology platform—the offerings are traditional insurance products across personal, commercial, health, and life lines.
Differentiator
Problem solved
Functional benefit
Brands
- Preferred On Demand: 24/7 online customer self-service portal and mobile app for policy management, certificate requests, and claims access.
Products and services
- Business Insurance Comprehensive commercial insurance portfolio covering construction, elevator, condominium, restaurant, technology, and other business sectors for companies in the Washington DC Metro Area.
- Personal Insurance Personal lines coverage for individuals and families including auto, homeowners, renters, and umbrella policies.
- Health Insurance Medical coverage including individual and family plans, dental, vision, disability, and long-term care insurance for individuals and groups.
- Life Insurance Life protection products including term, whole, universal, and indexed life insurance for individuals and businesses.
- Group Benefits Employer-sponsored benefit programs including dental, disability, and health insurance, plus 401(k), FSA, HSA, and HRA accounts.
- Construction Insurance Specialized coverage for contractors including general liability, workers' compensation, builders risk, and commercial policies, serving over 700 contractors with $65 million in client premium.
- Elevator Insurance Niche coverage for elevator contractors, inspectors, manufacturers, and service firms covering dumbwaiters, elevators, escalators, and related equipment, with same-day rush certificates.
- Condominium Insurance HOA and unit owner coverage including interior finishes, personal property, liability protection, and loss assessment for condominium associations and owners.
- Restaurant Insurance Specialized coverage for restaurants including EPLI, business interruption, cyber liability, and liquor liability, serving over 600 restaurants in the DC metro area.
- Technology Insurance Protection for technology companies including general liability, cyber liability, professional liability (E&O), workers' compensation, and business interruption.
- Auto Insurance Vehicle coverage for personal and corporate fleets including liability, collision, comprehensive, and uninsured/underinsured motorist protection.
- Homeowners Insurance Property protection covering dwelling, personal property, liability, and additional living expenses for homeowners.
- Personal Umbrella Insurance Excess liability coverage above auto, home, boat, and other personal policies for protection against catastrophic losses.
- Term Life Insurance Affordable coverage for specified terms (10, 20, or 30 years) with level premiums, including select term, return of premium, and instant answer options.
- Whole Life Insurance Permanent protection with never-increasing premiums that builds cash value and offers dividend opportunities.
- Universal Life Insurance Flexible permanent coverage with adjustable premiums and death benefits, featuring a savings component that accumulates cash value.
- Individual Disability Insurance Income replacement coverage for disabilities from illness or injury, protecting the policyholder's financial standing.
- Individual Long-Term Care (LTC) Insurance Coverage for services when the policyholder cannot self-care, including in-home care, nursing homes, and assisted living facilities.
- Group Disability Insurance Short-term and long-term disability coverage replacing a portion of employee income due to disabling illness or injury for employer groups.
- Group Dental Insurance Employer-sponsored dental coverage including checkups, cleanings, fillings, crowns, and root canals.
- Individual & Family Health Insurance Medical coverage including HMO, PPO, EPO, and POS plans with options for dental and vision add-ons for individuals and families.
- Buy/Sell Protection Business life insurance ensuring funds to purchase a deceased partner's share from heirs, protecting business continuity for partnerships and closely held companies.
- Key Person / Employee Insurance Life insurance on crucial employees where the company is the beneficiary, providing death benefits to cover losses from a key person's death.
- Preferred On Demand (Customer Self-Service Portal) 24/7 online self-service portal and mobile app enabling account access, policy information, auto ID cards, driver/location management, and certificate of insurance issuance for clients.
Quantifiable outcome
- Top 5 Erie Insurance agency in the nation, Largest in Virginia
- +5 more outcomes
Companies that use Preferred Insurance Services
Customer profileNamed customers2 records
Segments8 records
Ideal customer profiles5 records
Preferred Insurance Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Preferred Insurance Services partnerships and signals
Strategic signalPartnerships
23 partnerships are on record, tiered core, secondary and minor.
- Erie InsurancecoreErie Insurance is the primary carrier partner. Preferred is one of top five Erie Insurance agencies in the country and the largest in Virginia. Erie has been providing insurance since 1925 and is AM Best A+ rated. More than 90% of Erie customers stay with Erie year after year.
- Accident Fund InsurancecoreWorkers compensation and commercial insurance carrier partner.
- The Travelers Indemnity CompanycoreMajor commercial and personal insurance carrier partner providing various coverage options.
- The Progressive CorporationcoreAuto and commercial insurance carrier partner.
- Nationwide InsurancecoreMajor insurance carrier partner offering personal and commercial coverage.
- National General Insurance CompanysecondaryInsurance carrier partner providing auto and commercial coverage.
- Chubb GroupsecondaryHigh-end personal and commercial insurance carrier, particularly for high-net-worth individuals.
- Selective InsurancesecondaryCommercial insurance carrier partner for business coverage.
- Atlantic Specialty LinessecondarySpecialty insurance carrier for niche coverage.
- ALFA InsurancesecondaryRegional insurance carrier partner.
- Berkley Mid-Atlantic GroupsecondaryRegional commercial insurance carrier serving Mid-Atlantic markets.
- ICW Group InsurancesecondaryCommercial insurance carrier partner.
- West Bend Insurance CompanysecondaryPersonal and commercial insurance carrier partner.
- The HartfordcoreMajor insurance carrier partner offering commercial and personal coverage.
- Chesapeake Employers InsurancesecondaryWorkers compensation insurance carrier for Maryland market.
- Builders MutualsecondarySpecialty insurance carrier for construction industry.
- Philadelphia Indemnity Insurance CompanysecondaryCommercial insurance carrier partner.
- Penn NationalsecondaryInsurance carrier partner.
- Harford MutualsecondaryRegional mutual insurance carrier.
- Greater New YorksecondaryInsurance carrier partner.
- FCCI Insurance GroupsecondaryCommercial insurance carrier partner.
- CNAsecondaryMajor commercial insurance carrier partner.
- National Association of Elevator Contractors (NAEC)minorIndustry association membership for elevator insurance specialization. Provides access to industry expertise and networking for elevator program development.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Preferred Insurance Services competitors and assessment
Company assessmentDirect peers
- Heffernan Insurance Brokers: Independent insurance brokerage founded in 1988 with strong vertical specialization (construction, nonprofit, real estate) and multi-carrier access. Closely comparable in independent-agency model, vertical depth, and West Coast/Mid-Atlantic footprint overlap.
- IMA Financial Group: Independent insurance brokerage specializing in commercial property/casualty, surety, and employee benefits across multiple verticals. Comparable in independent ownership, vertical specialization, and multi-carrier representation model.
- Woodruff-Sawyer & Co. Independent insurance brokerage with deep specialization in construction, real estate, and nonprofit verticals. Comparable independent model, vertical focus on construction, and multi-carrier carrier representation.
- Kapnick Insurance Group: Independent insurance agency serving commercial and personal lines with strong carrier relationships. Comparable independent agency model serving SMB clients across multiple verticals in a regional footprint.
- Assurance: Top-50 US insurance brokerage providing commercial and personal lines with a tech-enabled service platform. Comparable in independent agency structure and SMB/commercial customer focus, with stronger digital tooling.
- Burns & Wilcox: Specialty wholesale insurance broker/distributor focused on commercial specialty lines including construction, hospitality, and excess casualty. Comparable specialization in complex commercial placements and excess/specialty lines.
- Brown & Riding: Specialty wholesale brokerage with strong construction, hospitality, and real estate practice groups. Comparable specialty-line focus and independent ownership structure.
- RPS (Risk Placement Services): Specialty insurance wholesale distributor and binding authority platform serving retail agents. Adjacent but comparable in specialty commercial expertise and carrier partnership model.
Broad incumbents
- Marsh McLennan: Global insurance brokerage and risk management giant. Operates broadly in the same industry but at vastly larger scale with overlapping commercial and personal lines capabilities.
- Aon: Global professional services firm with one of the world's largest insurance brokerage operations. Broad incumbent with overlapping commercial lines capabilities, including construction and specialty practices.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Preferred Insurance Services social profiles
Digital presencePreferred Insurance Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Preferred Insurance Services leadership team
Management profileNumber of profiles
Profiles4 records
Preferred Insurance Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Preferred Insurance Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Preferred Insurance Services
What does Preferred Insurance Services do?
Preferred Insurance Services is an independent insurance agency that sells and services personal, commercial, health, life, and group benefits insurance policies on behalf of 20+ carrier partners including Erie Insurance, Travelers, Progressive, Nationwide, Chubb, and The Hartford. The agency specializes in vertical-specific commercial lines for construction, elevator, condominium, restaurant, and technology businesses, and supports customers with the Preferred On Demand self-service portal, a dedicated Preferred Certificate Department, and proactive claims management.
Is Preferred Insurance Services a public or private company?
Preferred Insurance Services is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Preferred Insurance Services founded?
Preferred Insurance Services was founded in 1996. It employs 11 to 50 people.
Where is Preferred Insurance Services based?
Preferred Insurance Services is headquartered in Fairfax, United States, in the North America region.
How does Preferred Insurance Services make money?
One revenue line is on record: insurance Commissions.
Who are Preferred Insurance Services's main competitors?
Direct peers on record are Heffernan Insurance Brokers, IMA Financial Group, Woodruff-Sawyer & Co., Kapnick Insurance Group, Assurance, Burns & Wilcox, Brown & Riding and RPS (Risk Placement Services). Broad incumbents are Marsh McLennan and Aon.
Does Preferred Insurance Services have an API?
No public API is recorded for Preferred Insurance Services.
What industry is Preferred Insurance Services in?
Preferred Insurance Services's product category is Independent Insurance Agency Services. Its primary akta.pro industry code is FSAGAGAL, Embedded Insurance & Affinity Distribution Platforms, with a secondary code of FSAIAFAD, Small Group Health Insurance (2–50/100). Its NAICS code is 524210 and its SIC code is 6411.