The Insurance Exchange

What The Insurance Exchange does

The Insurance Exchange, Ltd. is a privately held, independent insurance agency founded in 1986 by Thomas E. Crosby Sr. and headquartered in South Holland, Illinois. The firm operates as an appointed agent for 35+ carriers including AAA, Aetna, Blue Cross Blue Shield of Illinois, Liberty Mutual/Safeco, Nationwide, Travelers, Grange, The Hartford, Progressive, and Zurich, and distributes personal lines (auto, home, renters, umbrella, motorcycle, boat, RV, classic car, flood, condo, landlord, off-road vehicle, identity theft, wedding), commercial lines (general liability, commercial property, commercial auto, workers compensation, surety bonds, commercial umbrella), life and health (term/whole/universal/variable life, individual and group health, Medicare Advantage/Supplement, ACA), and specialty sports/entertainment/leisure coverage. The agency earns recurring commissions from carriers on policies sold and renewed, with pricing customized per risk (wedding insurance starts at $160 as a reference retail price). Distribution combines licensed agents and member agencies across Chicagoland, Northwest Indiana, Atlanta Metro, Columbus OH, and Memphis/Nashville TN, with online quote requests via a Webtricity-built website and no proprietary apps or APIs.

Go-to-market is primarily sales-led, supplemented by community-led engagement through churches, chambers of commerce, and civic organizations in the Chicago Southland region. The customer base spans individual/family consumers (primary) and small-to-medium businesses (primary), with a tertiary niche in sports, entertainment, and leisure operators. The firm is licensed in at least nine states (Illinois, Indiana, Georgia, Arkansas, South Carolina, Ohio, Florida, Tennessee, Texas) with additional markets-served presence in Arizona, Maryland, Mississippi, Missouri, and North Carolina. Three of the founder's five children have joined as licensed sales agents, formalizing a multigenerational family succession. Technology infrastructure is conventional: a website-based quoting platform, SharePoint intranet for members, and social channels on Facebook, LinkedIn, Instagram, and Yelp; no AI, API, or data-driven underwriting capabilities are disclosed.

Name

The Insurance Exchange

Legal name

The Insurance Exchange, Ltd.

Website

https://www.insxchg.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

The Insurance Exchange is a privately held, independent insurance agency founded in 1986 in South Holland, Illinois, representing 35+ carriers to distribute personal, commercial, life, health, and specialty insurance to individuals, families, and SMBs across multiple U.S. states via licensed agents and member agencies.

Ownership category

akta.pro rank

Product category

Independent Insurance Agency

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

akta.pro secondary industries

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ), Individual Health Insurance Brokerage & Distribution (FSAIAEAL)

Keywords

• Independent insurance agency
• Personal insurance products
• Commercial insurance services
• Life and health insurance
• Insurance brokerage services

Headquarters

HQ city

South Holland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: The agency earns commissions from insurance carriers for policies sold. As an independent agency representing multiple insurance companies including Safeco/Liberty Mutual, Grange, Travelers, Blue Cross Blue Shield and others, they receive commission payments on each policy sold and renewed.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

The Insurance Exchange operates as an independent, full-service insurance agency brokering personal lines (auto, home, life, health, and specialty), commercial lines (general liability, commercial property, commercial auto, workers comp, surety bonds, umbrella), and niche coverage (sports, entertainment, leisure, wedding). Licensed agents represent 35+ carriers including AAA, Aetna, BCBS Illinois, Liberty Mutual/Safeco, Nationwide, Travelers, Grange, The Hartford, Progressive, and Zurich, and earn commissions on each policy sold and renewed.

Product overview

The Insurance Exchange is a full-service independent insurance agency offering a comprehensive portfolio of personal, business, and life & health insurance products. Their personal insurance offerings include auto, boat, classic car, condo, flood, homeowner, identity theft, landlord, off-road vehicle, RV, renters, umbrella, motorcycle, and wedding insurance. For business clients, they provide commercial liability, commercial property, commercial auto, commercial umbrella, workers compensation, surety bonds, and general business insurance. Their life and health division covers individual and group health plans, Medicare products, and various life insurance types. Additionally, they offer specialty sports, entertainment, and leisure insurance for niche markets. As an independent agency representing multiple insurance carriers, they compare coverage and prices across companies to find optimal value for clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance Vehicle coverage protecting against accidents, fire, theft, and other covered events, including liability, collision, and comprehensive coverage options, sourced across multiple carriers for individuals and families.
• Boat Insurance Coverage for watercraft including agreed value coverage, personal liability, medical payments, physical damage, and emergency assistance.
• Classic Car Insurance Specialized collector car insurance with agreed value coverage, low rates for part-time drivers, and coverage options tailored to vehicle age and modifications.
• Condo Insurance Coverage protecting condo owners against damage to possessions, interior repairs, liability claims, and association assessments.
• Flood Insurance Protection against flood damage through the National Flood Insurance Program (NFIP), covering dwelling and personal belongings.
• Homeowner Insurance Coverage for homes against fire, theft, vandalism, and other covered events, including property protection, personal liability, and additional living expenses.
• Identity Theft Insurance Coverage including expense reimbursement, preventative services, and identity restoration assistance.
• Landlord Insurance Rental property coverage protecting residential property, structures, landlord belongings, and liability including wrongful eviction.
• Off-Road Vehicle Insurance Coverage for ATVs, dirt bikes, golf carts, snowmobiles, and other motorsports vehicles including collision, liability, and vandalism protection.
• RV Insurance Protection for recreational vehicles including motorhomes and travel trailers, covering damages, liability, personal belongings, and emergency expenses.
• Renters Insurance Coverage for renters protecting personal belongings, providing liability coverage, and covering additional living expenses if rental becomes uninhabitable.
• Umbrella Insurance Additional liability protection beyond primary auto or homeowners policies, safeguarding assets against lawsuits and claims.
• Motorcycle Insurance Coverage for motorcycles from street cycles to dirt bikes, including custom parts, roadside assistance, guest passenger liability, and medical coverage.
• Wedding Insurance Financial protection for weddings covering scenarios including lost deposits, damaged gowns, ruined photos, severe weather postponement, and vendor failures; basic plans start at $160.
• Commercial Liability Insurance General liability coverage protecting businesses against visitor injuries, property damage, advertising damages, and various liability scenarios.
• Commercial Property Insurance Coverage for commercial buildings, inventory, equipment, and business personal property against fire, break-in, vandalism, and natural disasters.
• Commercial Auto Insurance Coverage for commercial vehicles and motorized equipment including bodily injury, property damage, medical payments, and hired/non-owned auto liability.
• Commercial Umbrella Insurance Additional liability protection above basic business coverage limits for catastrophic losses exceeding primary policy caps.
• Workers Compensation Insurance Coverage paying for medical care, rehabilitation, wage replacement, and death benefits for employees injured at work.
• Surety Bonds Financial guarantees including construction bonds, government contract bonds, license and permit bonds, and court bonds.
• Business Insurance Comprehensive business coverage including general liability, commercial property, business auto, umbrella, and workers compensation.
• Health Insurance Individual and group health coverage including Medicare Advantage, Medicare Supplement, ACA/Obamacare, dental, vision, and short/long-term disability.
• Life Insurance Coverage including term life, whole life, universal life, and variable life insurance providing death benefits to beneficiaries.
• Sports, Entertainment & Leisure Insurance Specialized coverage for camps, dance schools, martial arts studios, performers, personal trainers, special events, vendors, and yoga instructors.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

16 partnerships are on record, tiered core and minor.

• AAAcoreChannel Partner/ Reseller/ DistributorInsurance carrier represented by The Insurance Exchange offering auto, home, and life insurance products.
• AetnacoreChannel Partner/ Reseller/ DistributorHealth insurance carrier represented by The Insurance Exchange offering individual and group health plans.
• Blue Cross Blue Shield of IllinoiscoreChannel Partner/ Reseller/ DistributorMajor health insurance carrier represented offering ACA plans, Medicare and group health coverage.
• Liberty Mutual/SafecocoreChannel Partner/ Reseller/ DistributorMajor property and casualty insurance carrier represented by the agency.
• NationwidecoreChannel Partner/ Reseller/ DistributorInsurance carrier offering auto, home, and business insurance products.
• TravelerscoreChannel Partner/ Reseller/ DistributorCommercial and personal insurance carrier represented by the agency.
• Grange InsurancecoreChannel Partner/ Reseller/ DistributorRegional insurance carrier offering personal and commercial insurance products.
• The HartfordcoreChannel Partner/ Reseller/ DistributorInsurance carrier offering business and personal insurance products.
• ProgressivecoreChannel Partner/ Reseller/ DistributorAuto insurance carrier represented offering competitive rates.
• ZurichcoreChannel Partner/ Reseller/ DistributorGlobal insurance carrier offering commercial and specialty insurance products.
• Unico Designs, Ltd.minorGTM or Marketing PartnerRetail partner located at 202 River Oaks Ctr, Calumet City, IL 60409
• TCC Mechanical, Inc. (HVAC)minorGTM or Marketing PartnerContractor partner providing HVAC services, referral relationship
• LiveWire Electrical Systems, Inc.minorGTM or Marketing PartnerElectrical contractor partner, referral relationship
• Adams Electrical Services, Inc.minorGTM or Marketing PartnerElectrical services contractor partner
• Full Circle RealtyminorGTM or Marketing PartnerReal estate partner for referrals
• WebtricitycoreTechnology or IntegrationWebsite hosting and development provider for insxchg.com

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Farmers Insurance: National P&C carrier with an exclusive agent model that directly overlaps with The Insurance Exchange's personal and small-commercial book across its Midwest and Mid-South footprint.
• Liberty Mutual: Large national P&C carrier that competes for auto and home customers, and one of The Insurance Exchange's carrier partners (via Safeco) — making it both a supplier and a direct competitor in the personal-lines channel.
• Nationwide: Hybrid mutual insurer using both captive and independent channels; competes with The Insurance Exchange in auto, home, and small commercial, and is one of the carriers the agency actively represents.
• Allstate: Major U.S. personal-lines carrier with a national captive-agent footprint, directly competing with The Insurance Exchange for auto, home, and life households in Illinois, Indiana, and adjacent states.
• State Farm: Largest U.S. personal-lines property/casualty insurer operating through a captive agent force. While not independent, State Farm competes head-to-head for the same auto, home, and life customers in the agency's core Midwest markets.
• Progressive: Major auto insurer with aggressive direct-to-consumer digital channels that bypass independent agents; one of the carriers the agency represents but also a structural threat to agent-mediated auto placement.

Direct peers

• Brightway Insurance: A leading independent-insurance-agency franchisor in the U.S. with a model of multiple retail storefronts placing personal and commercial lines through a panel of multiple carriers, directly comparable to the multi-carrier independent agency model The Insurance Exchange operates.
• Goosehead Insurance: Publicly-traded independent insurance agency franchise built on multi-carrier quoting across personal and commercial lines, competing for the same household and small-business customer that The Insurance Exchange serves through its independent model.

Emerging players

• Policygenius: Digital multi-carrier lead-generation marketplace for life, home, and disability insurance, competing for the same online prospects The Insurance Exchange captures through its SEO-driven quote request flow.
• Lemonade: Insurtech challenger using a direct-to-consumer, mobile-first model that competes for the same young, digital-native renters/auto customers the agency targets, representing an emerging channel that could erode independent-agent share over time.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/The-Insurance-Exchange-Ltd-153877936865
• LinkedInlinkedin.com/company/2307654
• Instagraminstagram.com/insuranceexchange

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 The Insurance Exchange