What Raphael & Associates does

Raphael & Associates is a privately held Third Party Administrator (TPA) and Independent Claims Adjusting firm founded in 1978 by Stuart Raphael and headquartered in Rutherford, New Jersey. The company manages property and casualty claims programs throughout the United States on behalf of insurance carriers, self-insured entities, self-insured retention (SIR) programs, Risk Retention Groups (RRGs), program administrators, brokers, and wholesalers, with stated service coverage in all 50 states. Its portfolio is organized around two core service lines — Raphael Claims Management (TPA administration) and Raphael Field Adjusting (independent adjusting) — and is supplemented by specialized practice areas covering Private Client/High-Net-Worth, Property, Casualty, Marine, Inland Marine, Workers' Compensation, Transportation, Fine Arts & Collectibles, Professional Lines, Program Management, and Overflow/Run-Off claims.

The company operates more than 20 regional and field offices with field adjusting coverage in 27 states, supported by a network of independent adjusting companies in addition to W-2 employees. Its technology platform emphasizes customized, paperless workflows and real-time, on-demand claims reporting that supports underwriting and program analytics, with an online claims assignment portal enabling 24/7 intake across multiple lines. Affiliated companies Gatehouse Inspections (loss control and high-value home inspections) and Guardian PECS (public entity claims handling) extend the service footprint, and the January 2023 acquisition of Fleetwood Claims Service added liability-based adjusting capacity in Texas.

Raphael & Associates generates revenue primarily through managed services fees for TPA claim administration and professional services fees for field adjusting, loss control inspections, and specialty claims handling, with pricing quote-based and tailored to client needs. The company is family-controlled (CEO Justin Raphael, son of the founder) and bootstrapped, with no disclosed external funding rounds, and has grown to over 300 employees while maintaining an examiner base averaging 25+ years of industry experience.

Name

Raphael & Associates

Legal name

Raphael & Associates

Website

https://raphaelandassociates.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

101–250 employees

Short description

Raphael & Associates is a privately held Third Party Administrator and Independent Claims Adjusting firm, founded 1978 and headquartered in Rutherford, NJ, that manages property and casualty claims programs for insurance carriers, self-insured entities, program administrators, and high-net-worth clients across all 50 U.S. states.

Ownership category

akta.pro rank

Product category

Claims Administration & Independent Insurance Adjusting Services

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Claims Adjusting (524291)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Third-Party Administrator (TPA) & Program Administrator Services (FSAJALAF)

Keywords

• Third party claims administration
• Independent insurance adjusting
• Property casualty claims
• Workers compensation management
• Marine claims handling

Headquarters

HQ city

Rutherford

HQ country

United States

HQ region

North America

Offices17 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Third-Party Claims Administration Services: Fees for managing property and casualty claims programs throughout the United States. Services include claims handling, compliance, excess carrier reporting and licensing requirements.
2. Independent Adjusting Services: Fees for field adjusting services including scene investigations, appraisals, and arbitration attendance for insurance carriers and self-insured entities.
3. Loss Control Inspections: Revenue from affiliated company Gatehouse Inspections providing high-value home inspections and loss control inspections to the insurance industry.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Raphael & Associates is a Third Party Administrator (TPA) and Independent Claims Adjusting firm that manages property and casualty claims programs throughout the United States. The company acts as an extension of client insurers, self-insureds and program administrators by handling claims handling, field investigations, loss control inspections, compliance and excess carrier reporting across all 50 states. Core offerings are split between Raphael Claims Management (TPA) and Raphael Field Adjusting.

Product overview

Raphael & Associates is a Third Party Administrator and Independent Claims Adjusting company offering a unified portfolio of claims management and field adjusting services. The core offerings consist of Raphael Claims Management (TPA services) and Raphael Field Adjusting, supplemented by specialized sub-products including Private Client Group, Property, Casualty, Marine, Workers' Compensation, Fine Arts, Inland Marine, Transportation, Professional Lines, Program Management, and Overflow/Run-Off services. The company also operates affiliated companies Gatehouse Inspections (Loss Control) and Guardian PECS (Public Entity), plus Self-Insured/SIR/RRG program services. An online claims assignment portal enables customers to assign various claim types electronically.

Differentiator

Problem solved

Functional benefit

Products and services

• Raphael Claims Management (Third Party Administrator) Core TPA offering that manages property and casualty claims programs throughout the United States, acting as an extension of client insurance carriers, self-insureds and program administrators with paperless workflows and real-time reporting.
• Raphael Field Adjusting Licensed, highly-trained field adjusters providing scene photographs, full-scale investigations, appraisals, arbitration attendance and risk inspections for routine to complex claims, available in 27+ states.
• Claims Management - Private Client Group Specialized white-glove claims handling for affluent and high-net-worth clients with high-value homes, fine art, collectibles, yachts and exotic automobiles.
• Claims Management - Property Property claims management with experienced staff and customized paperless workflows and industry-leading reporting for insurer and self-insured clients.
• Claims Management - Casualty Casualty and liability claims handling leveraging a nationwide network of attorneys, engineers, medical professionals and investigative specialists for thorough investigations and fair settlements.
• Claims Management - Marine Marine claims management handling vessels from recreational fishing boats to multi-million-dollar yachts, with team members having maritime industry backgrounds.
• Claims Management - Workers' Compensation Workers' compensation claims management combining jurisdictional, clinical, return-to-work and settlement expertise for successful program outcomes.
• Claims Management - Fine Arts & Collectibles Fine arts and collectibles claims administration working closely with insureds, artists, conservators and appraisers for thorough investigations and proper resolutions.
• Claims Management - Inland Marine Inland marine claims handling for businesses shipping products and specialty equipment including construction, medical, and farming machinery.
• Claims Management - Transportation Transportation-related claims management with over 40 years of experience handling auto/truck liability, aviation, cargo claims, motor freight and motorsports.
• Claims Management - Professional Lines Professional liability claims handling for D&O, miscellaneous E&O, medical malpractice, fiduciary liability, employment practices, and management liability for corporate/non-profit directors and executives, lawyers, accountants, medical professionals, architects & engineers, and financial institutions.
• Claims Management - Program Management Program management services for insurance programs including commercial/residential properties, general/excess liability, storage facilities, marine, trucking, construction, restaurants, fashion, long term care and other specialty markets.
• Claims Management - Overflow/Run-Off Overflow and run-off claims services to handle excess claims volume due to catastrophic events, personnel turnover, or program closures with seamless transitions.
• Self-Insured / SIR / RRG Administration Third-party claims administration for self-insured entities, self-insured retention (SIR) programs, large deductibles and Risk Retention Groups (RRGs), with compliance, excess carrier reporting and licensing support.
• Loss Control Inspections (via Gatehouse Inspections) High-value home inspections and loss control inspections for the insurance industry, including detailed underwriting inspections on high-value homes and commercial properties, delivered through affiliated company Gatehouse Inspections.
• Public Entity Claims Services (via Guardian PECS) Public entity claims services through affiliated company Guardian PECS, with the depth, breadth and experience to handle any type of public-entity claim regardless of complexity or sensitivity.
• Field Adjusting - Property Property field adjusting with experienced staff handling homeowners, personal property, artwork, collectibles, builder's risk, commercial properties, fire and allied lines.
• Field Adjusting - Private Client Group Private client field adjusting for high-net-worth clients covering high-value homes, estates, personal property, fine art, collectibles, yachts and exotic automobiles.
• Field Adjusting - Transportation Transportation field adjusting services handling claims for auto/truck liability, aviation hull & liability, cargo claims, motor freight, motorcycles, motorsports and inland marine.
• Field Adjusting - Casualty Casualty field adjusting with liability claims specialists handling general liability, professional liability, product liability, E&O, environmental, liquor liability, malpractice, and other liability claims.

Quantifiable outcome

• Examiners average 25+ years of experience
• +3 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Fleetwood Claims ServicecoreTechnology or Integration · 5 January 2023Acquired by Raphael & Associates in January 2023. Fleetwood is an independent adjusting firm specializing in liability-based claims, operating out of Katy, TX since 1997. Led by Mark Boddie, CPCU since 2014. The Fleetwood team brings extensive experience in managing liability claims and joined R&A's Field Liability team.
• Gatehouse InspectionscoreStrategic or Co-development PartnerAffiliated company specializing in high-value home inspections and loss control inspections for the insurance industry. Works with Insurance Carriers, Agencies and Brokers to provide detailed underwriting inspections on high-value homes and commercial properties. Raphael & Associates refers clients requiring loss control services to Gatehouse Inspections.
• Guardian PECScoreStrategic or Co-development PartnerAffiliated company providing public entity claims handling services. Through Guardian PECS, Raphael & Associates offers depth, breadth and experience to handle any type of claim for public entities, no matter how complex or sensitive.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Engle Martin & Associates: National independent adjusting firm providing property, casualty, and specialty claims handling for carriers and self-insureds, with similar service-line breadth and middle-market positioning to Raphael.
• Sedgwick: Largest independent North American claims management and TPA provider, directly comparable in property, casualty, marine, transportation, and workers' compensation claims administration. Competes for the same insurance carrier and self-insured RFPs.
• Charles Taylor Adjusting: International claims adjusting and TPA provider handling complex P&C, marine, and specialty losses. Comparable in high-value and complex claims handling and in providing white-glove service to carriers and high-net-worth clients.
• Broadspire (part of Crawford): Crawford's TPA and managed care division handling P&C, workers' comp, and disability claims for carriers and employers. Overlaps with Raphael's TPA services across multiple lines of business.
• Crawford & Company: Publicly traded global claims management and adjusting firm offering TPA services across P&C, casualty, and specialty lines. Closest scaled competitor in third-party claims administration serving insurance carriers and self-insureds.
• Pilot Catastrophe Services: Independent adjusting firm specializing in catastrophe and large-loss property claims, directly comparable to Raphael's overflow/run-off and field adjusting services for property insurers.

Broad incumbents

• Belfor Property Restoration: Large property-focused restoration and claims-related services firm with national footprint and disaster-response capabilities, overlapping Raphael's property adjusting and catastrophe overflow services.
• Esurance / ERIE Indemnity Claims Services: Large regional/national carrier with in-house claims operations that compete with TPAs for third-party business. Represents the carrier-insourcing alternative that Raphael sells against.

Regional players

• Steve Parrot & Associates: Independent insurance adjusting firm focused on property and catastrophe claims, primarily regional in scope; comparable to Raphael in service type but limited geographic footprint.

Emerging players

• VRC Investigations: Regional independent adjusting and claims investigation firm overlapping Raphael's field adjusting capabilities, especially in catastrophe response.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/raphael-&-associates/about

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 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 Raphael & Associates