Heartman Insurance

What Heartman Insurance does

Heartman Insurance is a privately held, for-profit insurance agency founded in 1963 and based in Minnesota City, United States. The firm provides business (commercial) and personal insurance solutions and operates at a small scale, with headcount reported in the 11–50 employee range. As a traditional retail insurance operation, it functions as an intermediary that places coverage for commercial and individual clients rather than underwriting risk itself.

The available source material for this profile is drawn largely from Gallagher-branded (Arthur J. Gallagher & Co., NYSE: AJG) content tied to a Rochester, MN location page, describing insurance, risk management, and business consulting services spanning verticals such as healthcare, higher education, public entities/government, and construction, plus offerings including cyber liability insurance, claims advocacy, crisis resilience, loss control, and HR/benefits and retirement consulting. This conflation suggests Heartman Insurance may be affiliated with or absorbed into the Gallagher network, though no explicit acquisition event is stated in the data. The Gallagher-attributed capabilities should therefore not be assumed to represent Heartman's standalone service surface.

The business model is not disclosed in detail. Pricing is quote-based and not publicly disclosed, consistent with commission- and fee-driven insurance brokerage economics. Go-to-market for the referenced operations is relationship-based direct field sales through local offices, supplemented by client self-service portals (client portal and a risk management center) for existing clients.

Name

Heartman Insurance

Legal name

Arthur J. Gallagher & Co.

Website

https://heartman.com

Company type

Public

Founded year

1927

Operating status

Operating

Headcount range

11–50 employees

Short description

Heartman Insurance is a small, privately held insurance agency founded in 1963 in Minnesota City, U.S., providing business (commercial) and personal insurance solutions to local commercial and individual clients.

Ownership category

akta.pro rank

Headquarters

HQ city

Minnesota City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Distribution channels3 records

Marketing channels6 records

Core offering

Heartman Insurance is an insurance agency providing business and personal insurance solutions alongside risk management and business consulting services. The firm delivers insurance coverage, claims advocacy, cyber liability protection, crisis resilience, and loss control, complemented by consulting offerings in health and welfare, voluntary benefits, HR and compensation, and retirement plan design. Services are delivered through a local office presence supported by online client self-service tools.

Product overview

Gallagher is an insurance, risk management, and business consulting firm offering a comprehensive suite of services. The company provides core insurance products alongside specialized offerings including cyber liability insurance, claims advocacy, and crisis resilience services. On the consulting side, they offer health and welfare consulting, voluntary benefits, HR and compensation consulting, and retirement plan consulting. The firm serves various industries including healthcare, higher education, public entities, and construction.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Insurance Solutions
• Personal Insurance Solutions
• Risk Management Services
• Claims Advocacy
• Cyber Liability Insurance
• Crisis Resilience Services
• Loss Control Services
• Health and Welfare Consulting
• Voluntary Benefits
• Human Resources and Compensation Consulting
• Retirement Plan Consulting

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Expansion highlights1 record

Direct peers

• Brown & Brown, Inc. National insurance brokerage built largely through acquisition of regional agencies; competes for the same small-commercial and personal-lines clients Heartman serves, and is one of the most active acquirers of agencies of Heartman's size.
• Hub International Limited: Insurance brokerage organized around regional hubs that acquire independent agencies; closely mirrors Heartman's regional-agency profile while offering expanded specialty resources.
• USI Insurance Services: Middle-market insurance brokerage with strong regional office network and a similar mix of business and personal insurance; a direct competitor for mid-market commercial accounts and a likely acquirer of agencies like Heartman.
• Lockton Companies: Largest privately held insurance brokerage; competes with regional agencies for commercial accounts and represents the upper-bound comparator for an independent Midwestern agency.
• Acrisure: Fast-growing insurance brokerage built primarily through acquisition of regional agencies; operates a similar local-relationship model and is an active buyer of Heartman-sized agencies.
• Alliant Insurance Services: Specialty-focused brokerage serving middle-market and niche commercial clients; a comparable model to Heartman for agencies looking to add specialty practices alongside core business lines.

Broad incumbents

• Marsh McLennan Agency: Middle-market arm of global broker Marsh McLennan; competes directly in Heartman's footprint with broader resources, deeper specialty benches, and national carrier leverage.
• Arthur J. Gallagher & Co. Global insurance brokerage (NYSE: AJG) with deep regional office network across the U.S., including a Rochester, MN office matching Heartman's documented address; both a likely acquirer and an indirect competitor.
• Truist Insurance Holdings: Insurance brokerage subsidiary of Truist Financial; competes in the middle-market space and represents the bank-affiliated brokerage model Heartman may eventually be benchmarked against.
• Aon plc: Global professional services firm with a major insurance brokerage segment; competes for larger accounts in Heartman's region and influences market pricing and carrier appointments.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat3 records

Key risks5 records

Key highlights4 records

Customer concentration

• Xx.com/heartmanagency
• YouTubeyoutube.com/GallagherGlobal
• Facebookfacebook.com/heartman-insurance-281665973093
• LinkedInlinkedin.com/company/384689
• Instagramlinkedin.com/company/gallagher-global

Revenue estimate

Valuation estimate

Number of profiles

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 Heartman Insurance