KSP Insurance Agency

What KSP Insurance Agency does

KSP Insurance Agency is an independent insurance agency founded in 1923 in Wyandotte, Michigan, and currently owned and operated by Eric Karn (alongside Cheryl Karn), continuing the legacy established by founder Fred Karn. The agency serves individuals, families, and small-to-mid-sized businesses across Wyandotte and the greater Detroit metropolitan area, offering a broad portfolio of personal insurance (home, auto, life, umbrella, and 30+ specialty lines), business insurance (BOP, general liability, commercial property, workers' comp, cyber, D&O, and others), and industry-specific programs (contractors, non-profits, restaurants, schools, landlords, and 70+ verticals).

The firm operates on a commission-based revenue model, earning fees from nine core carrier relationships — Accident Fund, Auto Owners, Citizen Hanover (Hanover Insurance Group), Frankenmuth, Grand River, Liberty Mutual, Michigan Insurance, Pioneer State Mutual, and Progressive. Distribution is delivered through licensed insurance professionals via direct in-person, phone, and email consultations at the Wyandotte office, supplemented by an online service center for policy servicing, bill pay, certificate requests, ID cards, and quote requests. The firm uses standard insurance agency management systems; no proprietary technology platform or AI capabilities are indicated in the source material.

The business is small (1–10 employees, ~20 named team members), privately held with no external funding, and licensed exclusively in Michigan. GTM is relationship-led: the firm positions itself as a trusted, local advisor that compares coverage options across carriers, leans on community association memberships (multiple chambers, Rotary, YMCA), and relies on referrals plus a long-tenured team with continuing education to retain clients across decades.

Name

KSP Insurance Agency

Legal name

KSP Insurance Agency

Website

https://kspinsurance.com

Company type

Private

Founded year

1923

Operating status

Operating

Headcount range

11–50 employees

Short description

KSP Insurance Agency is an independent, Michigan-licensed insurance agency based in Wyandotte, serving individuals, families, and small-to-mid-sized businesses in the greater Detroit area since 1923, placing personal, commercial, and industry-specific coverages through nine core carrier partners.

Ownership category

akta.pro rank

Headquarters

HQ city

Wyandotte

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commission Revenue: KSP Insurance Agency generates revenue through commissions paid by insurance carriers for policies sold and serviced. As an independent agency representing multiple insurance companies (Accident Fund, Auto Owners, Citizen Hanover, Frankenmuth, Grand River, Liberty Mutual, Michigan, Pioneer State Mutual, Progressive), they earn commissions on each policy placed with these carriers.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

KSP Insurance Agency is an independent insurance agency that sells personal and business insurance policies through a network of nine or more top-rated insurance carriers (Accident Fund, Auto Owners, Citizen Hanover, Frankenmuth, Grand River, Liberty Mutual, Michigan, Pioneer State Mutual, and Progressive). The agency compares coverage options across carriers and provides ongoing policy servicing, claims support, and reviews for individuals, families, and businesses across Michigan.

Product overview

KSP Insurance Agency is an independent insurance agency established in 1923, serving the Wyandotte, MI and greater Detroit, MI area. The agency offers a comprehensive portfolio of insurance products through its network of carrier relationships (Accident Fund, Auto Owners, Citizen Hanover, Frankenmuth, Grand River, Liberty Mutual, Michigan, Pioneer State Mutual, and Progressive). The product portfolio spans Personal Insurance products (Home, Auto, Life, Rental Property, Umbrella, and 30+ additional coverage types including Classic Car, Flood, High Net Worth, Pet, Wedding, and various individual health/dental/vision policies) and Business Insurance products (Business Owners Policy, General Liability, Commercial Property, Business Auto, Workers' Compensation, and specialized coverages like Cyber Liability, Directors & Officers, and Commercial Umbrella). The agency also provides industry-specific insurance programs for Contractors, Non-Profits, Restaurants, Schools, Landlords, and 80+ other industries including Breweries, Fitness Centers, Technology Firms, and Wineries. The agency offers service center capabilities for bill payment, auto ID card requests, certificate requests, policy reviews, and policy changes.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Insurance

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

15 partnerships are on record, tiered core and minor.

• Accident FundcoreChannel Partner/ Reseller/ DistributorAccident Fund is an insurance carrier represented by KSP Insurance Agency. They provide workers' compensation and related insurance products. KSP offers their clients access to Accident Fund coverage as part of their carrier network.
• Auto OwnerscoreChannel Partner/ Reseller/ DistributorAuto Owners Insurance is a carrier partner providing auto, home, and business insurance products. KSP Insurance Agency represents Auto Owners as one of their primary carrier relationships for Michigan clients.
• Citizen HanovercoreChannel Partner/ Reseller/ DistributorCitizen Hanover (The Hanover Insurance Group) is a national property and casualty insurance company providing commercial and personal insurance products through KSP Insurance Agency's independent agency network.
• FrankenmuthcoreChannel Partner/ Reseller/ DistributorFrankenmuth Insurance is a regional carrier known for competitive rates in the Michigan market. KSP Insurance Agency partners with Frankenmuth to provide coverage options for their clients.
• Grand River InsuranceminorChannel Partner/ Reseller/ DistributorGrand River Insurance is a Michigan-based insurance carrier providing coverage options through independent agents like KSP Insurance Agency.
• Liberty MutualcoreChannel Partner/ Reseller/ DistributorLiberty Mutual is a national insurance carrier providing a wide range of personal and commercial insurance products. KSP represents Liberty Mutual as part of their multi-carrier approach.
• Michigan InsurancecoreChannel Partner/ Reseller/ DistributorMichigan Insurance Company is a regional carrier offering property and casualty insurance products in the Michigan market. KSP Insurance Agency offers their products as part of their carrier portfolio.
• Pioneer State MutualcoreChannel Partner/ Reseller/ DistributorPioneer State Mutual Insurance Company is a Michigan-based property and casualty insurer providing coverage through independent agents including KSP Insurance Agency.
• ProgressivecoreChannel Partner/ Reseller/ DistributorProgressive Insurance is a major national carrier known for auto insurance and commercial insurance products. KSP Insurance Agency represents Progressive to offer additional coverage options to their clients.
• Lincoln Park Chamber of CommerceminorOthersCommunity association partnership supporting the Lincoln Park, Michigan business community. KSP Insurance Agency participates in chamber activities and networking.
• Dearborn Chamber of CommerceminorOthersCommunity association partnership in the Dearborn, Michigan area. KSP Insurance Agency maintains membership and participates in chamber events.
• Michigan Green Industry AssociationminorOthersIndustry association partnership supporting green industry businesses in Michigan. KSP Insurance Agency provides insurance expertise to member companies.
• YMCA DownriverminorOthersNonprofit community organization partnership supporting youth and community development in the Downriver Michigan area. KSP Insurance Agency supports the YMCA through membership and community involvement.
• Rotary ClubminorOthersService organization membership providing community service and networking opportunities in the local Michigan area. KSP Insurance Agency participates in Rotary Club activities and initiatives.
• Southern Wayne County Regional ChamberminorOthersRegional chamber of commerce serving the Southern Wayne County Michigan communities. KSP Insurance Agency holds membership for community engagement and business networking.

Scale indicators4 records

Expansion highlights2 records

Broad incumbents

• Acrisure: Michigan-headquartered global insurance brokerage that has scaled aggressively through acquisition of independent agencies, including many across Michigan. Directly comparable as an insurance brokerage, though serving a much broader and larger client base than KSP. A logical consolidator acquirer of KSP's book.
• Hub International Limited: Global insurance brokerage that acquires and partners with independent agencies across North America, including active roll-up activity in the Midwest. Operates the same agency/brokerage distribution model as KSP for personal and commercial lines, though at substantially larger scale.
• Brown & Brown, Inc. National insurance brokerage built through acquisition of independent agencies, operating a similar brokerage model serving personal and commercial clients. Has been an active acquirer of independent agencies of similar profile to KSP.
• Arthur J. Gallagher & Co. Fortune 500 insurance brokerage and risk management firm serving commercial and personal lines clients globally. Comparable as a full-service brokerage and active acquirer of independent agencies, particularly in commercial and specialty lines.
• Marsh McLennan Agency: Middle-market brokerage arm of global professional services giant Marsh McLennan, serving mid-sized commercial clients similar to KSP's commercial book. Comparable as a brokerage serving overlapping commercial segments in Michigan and beyond.
• Lockton Companies: The world's largest privately held insurance brokerage, providing brokerage and risk advisory services to commercial and personal clients. Comparable brokerage business model, though operating at substantially greater scale and broader geographic footprint than KSP.

Emerging players

• Lemonade Inc. InsurTech company offering direct-to-consumer insurance, particularly renters, homeowners, and pet. Represents an emerging disintermediation threat to traditional independent agencies like KSP, competing for the same personal lines customers via a mobile-first, AI-driven experience.

Others

• Progressive Corporation: One of the largest U.S. auto insurers and a key carrier partner of KSP. Operates a hybrid agency/DTC model with industry-leading direct-to-consumer capabilities, making it simultaneously a critical distribution partner and a structural competitor that could bypass independent agents.
• Auto-Owners Insurance: Michigan-headquartered property and casualty carrier and core carrier partner of KSP. Operates an exclusive independent agent model with no direct-to-consumer channel, representing a traditional carrier-distribution alignment similar to KSP's overall GTM approach.
• Frankenmuth Insurance: Michigan-based regional property and casualty insurance carrier and carrier partner of KSP. Comparable as a regional Michigan insurer and ecosystem participant in the same Downriver/Detroit Michigan market, providing localized underwriting that complements KSP's brokerage model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/kspinsurance
• LinkedInlinkedin.com/company/ksp-insurance-agency-inc-
• Xx.com/KSPInsurance

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 KSP Insurance Agency