Madison Insurance Group
Madison Insurance Group is an independent, full-service insurance brokerage founded in 1976, headquartered in Oak Ridge, TN, with 15 offices across Tennessee, Florida, South Carolina, and New Mexico. It distributes personal, commercial, benefits, and Medicare products through 46+ carrier partnerships for consumers, small/mid businesses, and staffing firms.
- Company typePrivate
- Founded1976
- HeadquartersOak Ridge, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Madison Insurance Group does
Madison Insurance Group is a privately held, full-service independent insurance agency headquartered in Oak Ridge, Tennessee. Founded in 1976, the firm operates as a broker/intermediary rather than a carrier, distributing personal lines, commercial lines, group and individual benefits, and Medicare products on behalf of more than 46 insurance partners. Its go-to-market is producer-led and relationship-driven, supported by 15 physical offices across Tennessee, Florida, South Carolina, and New Mexico.
The agency is organized around four core practice areas: personal insurance (home, auto, life, recreational), commercial insurance (general liability, workers' compensation, commercial auto, professional liability), employee benefits (group and individual health, dental, vision, life, disability), and Medicare. Specialty verticals include a dedicated Staffing Lines practice serving staffing and PEO firms, plus a separate Straight Talk Medicare sub-brand. The carrier panel includes Travelers, Liberty Mutual, Hanover, Cincinnati, Berkshire Hathaway Guard, Employers, and ICW Group, among others. Technology is limited to standard agency management systems, a website, and a partnership with Thimble for on-demand small commercial liability; no proprietary technology platform is disclosed.
Madison's revenue model is commission-based: it earns front-end and renewal commissions on policies placed with its carrier partners, plus potential override/profit-sharing on certain carriers and fees on benefits and consulting work. There is no disclosed ownership structure beyond an Owner & Principal (Bill Arowood) and President (Elizabeth King), no funding events, and no public financial reporting. The headcount band of 11–50 employees and 15-office footprint are consistent with a mid-sized regional agency operating on traditional brokerage economics.
Madison Insurance Group firmographics
Firmographics- Name
- Madison Insurance Group
- Legal name
- Madison Insurance Group, Inc.
- Website
- https://miginsgroup.com
- Company type
- Private
- Founded year
- 1976
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Madison Insurance Group is an independent, full-service insurance brokerage founded in 1976, headquartered in Oak Ridge, TN, with 15 offices across Tennessee, Florida, South Carolina, and New Mexico. It distributes personal, commercial, benefits, and Medicare products through 46+ carrier partnerships for consumers, small/mid businesses, and staffing firms.
- Ownership category
- akta.pro rank
Madison Insurance Group industry classification
Industry- Product category
- Insurance Brokerage Services
- NAICS
- Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Small Group Health Insurance (2–50/100) (FSAIAFAD)
- akta.pro secondary industries
- Group Term Life Insurance (FSAIAAAJ), Fully Insured Group Health Plans (Employer-Sponsored) (FSAIAFAA), Basic Group Term Life (Employer-Paid) (FSAIADAA), Group AD&D Insurance (Employer-Sponsored) (FSAIALAA), Fully Insured Small Group Plans (HLAEAAAB)
Keywords
Where Madison Insurance Group is headquartered
LocationHeadquarters
- HQ city
- Oak Ridge
- HQ country
- United States
- HQ region
- North America
Offices16 records
Markets served
Madison Insurance Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Insurance Agency Commissions: Madison Insurance Group generates revenue through commissions paid by insurance carrier partners when policies are sold and renewed. As an independent insurance agency, they do not underwrite insurance themselves but act as intermediaries connecting customers with appropriate coverage from their carrier network.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Quote-based personalized pricing - no standard tiers publicly disclosed |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Madison Insurance Group product offering
Product offeringCore offering
Madison Insurance Group is an independent insurance brokerage that sells personal, commercial, employee-benefits, and Medicare insurance products on behalf of 44+ national and regional carriers. The agency does not underwrite policies; it earns carrier commissions by matching customers to carriers through agent-assisted sales at 15 physical offices, by phone, and through its website.
Product overview
Madison Insurance Group is a full-service insurance agency offering a comprehensive portfolio of personal, commercial, and employee benefits insurance products through partnerships with over 50 national and regional insurance carriers. Personal Lines include auto, homeowners, renters, flood, pet, dwelling fire, motorcycle/ATV, personal umbrella, RV, and watercraft insurance. Commercial Lines encompass general liability, workers' compensation, cyber insurance, business owners policies, commercial auto/property/umbrella, staffing lines, inland marine, and additional liability products. Benefits offerings include individual and group life/health, dental/vision, and disability insurance. The company operates as an insurance broker/advisor model, connecting customers with appropriate carrier products rather than underwriting insurance directly.
Differentiator
Problem solved
Functional benefit
Brands
- MIG Medicare: Medicare insurance products offered through Straight Talk Medicare platform
Products and services
- Auto Insurance Personal auto insurance coverage including bodily injury liability, collision, comprehensive, medical payments, property damage liability, rental reimbursement, towing, and uninsured/underinsured motorist coverage for individual drivers and families.
- Homeowners Insurance Coverage for dwelling and personal property with liability insurance for injuries to others or property damage caused by the policyholder, family members, or pets; targeted at individual homeowners.
- Renters Insurance Coverage for personal property against fires, burglaries, and lawsuits, including temporary housing and liability protection for renters leasing a residence.
- Flood Insurance Federal flood insurance covering residential buildings up to $250,000 and contents up to $100,000, also covering mudflow and debris from moving water.
- Pet Insurance Coverage options including accidents only, comprehensive plans, and routine care for pets.
- Dwelling Fire Insurance Fire dwelling insurance protecting listed dwellings from fire, collapse, explosion, hail, lightning, smoke, vandalism, and wind damage, including rental properties.
- Motorcycle & ATV Insurance Coverage for motorcycles and off-road vehicles including collision, liability, theft, and specialized off-road coverage for dirt bikes, dune buggies, ATVs, and golf carts.
- Personal Umbrella Insurance Additional liability protection above homeowners, auto, and watercraft policies, providing 1–5 million dollars in extra coverage.
- RV Insurance Specialized coverage for recreational vehicles including property coverage for personal belongings and specific RV coverage options.
- Watercraft Insurance Boat insurance covering liability, physical damage, theft, medical payments, motor coverage, trailer coverage, and communications devices.
- Individual Life & Health Insurance Life insurance products including term, universal, whole life, and variable life policies, plus individual health insurance plans (HMO, PPO, POS).
- Individual Dental & Vision Insurance Dental insurance covering routine exams, cleanings, fillings, root canals, dentures, extractions, and crowns, plus vision plans including routine exams, glasses, and contacts for individuals.
- Individual Disability Insurance Disability insurance protecting against income loss due to physical injury, with variable monthly benefits, definition of disability options, waiting periods, and benefit periods.
- General Liability Insurance Coverage protecting businesses against losses from bodily injury, property damage, personal injury, medical payments, and hired/non-owned auto liability.
- Staffing Lines Insurance Package insurance for temp staffing agencies including property, commercial general liability, employee benefits liability, E&O, fidelity bond, umbrella, hired/non-owned auto, and cyber liability.
- Workers' Compensation Insurance Coverage for workplace injuries including medical payments, lost wages, and therapy, with single and multi-state policy options for employers.
- Cyber Insurance Cybersecurity coverage including privacy liability, network security, network business interruption, errors and omissions, and media liability protections for businesses.
- Business Owners Policy (BOP) Package policy combining general liability and property insurance for small to medium businesses, including business income coverage.
- Commercial Auto Insurance Coverage for business-owned or leased vehicles including bodily injury, property damage, medical payments, comprehensive, collision, and uninsured/underinsured motorist protection.
- Commercial Property Insurance Coverage for buildings and business property/inventory against physical loss or damage, including replacement cost and actual cash value options.
- Commercial Umbrella Insurance Additional liability protection above general liability, commercial auto, and property policies, adding 1–5 million dollars in coverage for businesses.
- Home-Based Business Insurance Coverage options for home businesses not covered by standard homeowners insurance.
- Inland Marine Insurance Coverage for products, materials, and equipment transported over land or temporarily warehoused, including computers, communications equipment, construction equipment, and medical equipment.
- Additional Liability Products Additional coverage including professional liability, employment practices liability, directors and officers, ordinance or law coverage, and special event coverage.
- Group Life & Health Benefits Employer-sponsored group life insurance and health benefit plans with various deductible options and premium levels for employees.
- Group Dental & Vision Benefits Group dental and vision coverage for employers including cleanings, x-rays, fillings, root canals, dentures, extractions, crowns, and routine vision exams.
- Group Disability Insurance Employer-sponsored disability insurance providing employee compensation for disabilities caused by covered events, with costs split via payroll deductions.
- Medicare Insurance Medicare insurance products, including Medicare Advantage, Medicare Supplement (Medigap), and Medicare Part D prescription drug plans, plus supplemental dental and vision coverage for Medicare beneficiaries — distributed through MIG's dedicated Straight Talk Medicare microsite and 15 offices.
Companies that use Madison Insurance Group
Customer profileSegments5 records
Ideal customer profiles4 records
Madison Insurance Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Madison Insurance Group partnerships and signals
Strategic signalPartnerships
47 partnerships are on record, tiered core and supporting.
- AAAcoreNational insurance carrier partner providing personal and commercial insurance products. AAA offers auto, home, and other insurance products distributed through MIG agency network.
- Acuity InsurancecoreRegional insurance carrier partner offering commercial and personal insurance products. Distributed through MIG agency locations.
- AhoysupportingInsurance carrier partner, specializing in marina and boat insurance products. Available through MIG for watercraft coverage.
- AIC - Accident Insurance CompanysupportingAccident insurance carrier providing supplemental accident coverage products. Distributed through MIG agency network.
- Allied InsurancecoreInsurance carrier (part of Nationwide) offering personal and commercial insurance products. Distributed through MIG.
- American ModernsupportingSpecialty insurance carrier providing manufactured housing, motorcycle, and specialty property products. Available through MIG.
- AmTrust FinancialcoreInsurance carrier offering workers' compensation, general liability, and other commercial insurance products. Distributed through MIG.
- AttunesupportingInsurance carrier partner offering commercial and specialty insurance products. Distributed through MIG agency.
- Auto-Owners InsurancecoreRegional insurance carrier providing auto, home, and commercial insurance. Distributed exclusively through independent agents like MIG.
- Berkshire HathawaycoreMajor insurance conglomerate offering comprehensive commercial and specialty insurance products. Available through MIG.
- BerkleysupportingInsurance carrier offering commercial lines products including workers' compensation and general liability. Distributed through MIG.
- Builders MutualsupportingSpecialty insurance carrier for construction industry providing builders risk and contractor coverage. Available through MIG.
- Celina Insurance GroupsupportingRegional insurance carrier offering farm, business, and personal insurance products. Distributed through MIG.
- CHUBBcorePremier insurance carrier offering high-value personal insurance, commercial risk management, and specialty coverages. Distributed through MIG.
- Cincinnati Insurance CompaniescoreInsurance carrier offering commercial lines, personal lines, and excess/surplus coverage. Distributed through independent agents like MIG.
- CNAcoreLarge commercial insurance carrier offering business insurance, professional liability, and risk management solutions. Distributed through MIG.
- Donegal InsurancesupportingRegional mutual insurance carrier offering personal and commercial insurance. Distributed through MIG.
- EMCsupportingInsurance carrier offering commercial and personal insurance products. Distributed through independent agents.
- EmployerscoreWorkers' compensation insurance carrier specializing in small business coverage. Distributed through MIG.
- Encova InsurancecoreInsurance carrier offering commercial and personal insurance products. Distributed through MIG.
- Fastcomp WorkCompcoreWorkers' compensation insurance specialist providing coverage for staffing agencies and businesses. Available through MIG.
- FFVA MutualsupportingFarm mutual insurance carrier offering agricultural and rural property coverage. Distributed through MIG.
- Foremost Insurance GroupcoreInsurance carrier specializing in specialty products including manufactured housing, motorhomes, and watercraft. Distributed through MIG.
- GEICOcoreDirect insurance carrier offering auto, home, and other insurance products. Available through MIG agency channel.
- HagertysupportingClassic car and collector vehicle insurance specialist. Available through MIG for classic auto coverage.
- The Hanover Insurance GroupcoreInsurance carrier offering commercial and personal insurance products. Distributed through independent agents.
- Hartford Mutual Insurance GroupcoreInsurance carrier offering commercial and personal insurance products. Distributed through MIG.
- The HartfordcoreMajor insurance carrier offering business insurance, workers' compensation, and personal insurance. Distributed through MIG.
- Haulers Insurance CompanysupportingSpecialty insurance carrier for trucking and transportation industry. Available through MIG.
- Liberty MutualcoreMajor insurance carrier offering auto, home, and commercial insurance. Available through MIG.
- Main Street AmericacoreInsurance carrier offering personal and commercial insurance for small businesses. Distributed through MIG.
- National General (Allstate company)coreInsurance carrier (Allstate subsidiary) offering auto, home, and supplemental insurance. Distributed through MIG.
- NationwidecoreMajor insurance carrier offering comprehensive personal and commercial insurance products. Distributed through MIG.
- Openly InsurancesupportingInsurance carrier offering homeowners and specialty insurance products. Available through MIG.
- Philadelphia InsurancecoreInsurance carrier specializing in property and casualty coverage. Distributed through MIG.
- Progressive InsurancecoreMajor auto and commercial insurance carrier. Available through MIG for auto and commercial coverage.
- Safeco InsurancecoreInsurance carrier (Liberty Mutual subsidiary) offering personal insurance products. Distributed through MIG.
- Selective InsurancecoreInsurance carrier offering commercial and personal insurance products. Distributed through MIG.
- State Auto InsurancecoreInsurance carrier offering personal and commercial insurance products. Distributed through MIG.
- Society InsurancesupportingInsurance carrier specializing in restaurant and hospitality business coverage. Available through MIG.
- Southern Trust InsurancesupportingRegional insurance carrier offering personal and commercial insurance products. Distributed through MIG.
- Stillwater InsurancesupportingInsurance carrier offering property and casualty insurance products. Distributed through MIG.
- Travelers InsurancecoreMajor commercial and personal insurance carrier. Distributed through MIG for comprehensive coverage options.
- U.S. AssuresupportingInsurance carrier offering commercial insurance products. Distributed through MIG.
- Utica InsurancesupportingInsurance carrier offering commercial and specialty insurance products. Distributed through MIG.
- West Bend InsurancecoreInsurance carrier offering commercial and personal insurance products. Distributed through MIG.
- Westfield InsurancecoreInsurance carrier offering commercial and personal insurance products. Distributed through MIG.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Madison Insurance Group competitors and assessment
Company assessmentBroad incumbents
- Brown & Brown: Publicly traded national insurance broker providing personal, commercial, and benefits products. Operates a much larger version of the multi-line independent agency distribution model that MIG pursues.
- USI Insurance Services: Large national insurance brokerage and consulting firm serving middle-market businesses. Represents a scaled version of MIG's commercial lines and benefits focus with broader capabilities.
- Arthur J. Gallagher: Global insurance brokerage and risk management firm with extensive retail brokerage operations serving SMBs. Represents a scaled incumbent in the same multi-line distribution space.
- Marsh McLennan: Global professional services firm with extensive insurance brokerage operations. Represents a broad incumbent that competes for the same middle-market and personal-lines customers as MIG through its retail brokerage segment.
Emerging players
- Acrisure: Tech-enabled insurance broker that has rapidly acquired independent agencies nationwide. Competes with MIG for SMB and personal-line customers through a more technology-forward model with consolidated back-office and digital capabilities.
Regional players
- J. Smith Lanier & Co. Regional insurance broker headquartered in the Southeast US, providing commercial, personal, and employee benefits products. Highly comparable in geography and product mix to MIG's footprint in TN/FL/SC.
Direct peers
- Houchens Insurance Group: Regional insurance agency offering personal, commercial, and benefits products. Closely comparable in scale and product mix to MIG as a multi-line independent agency with multi-office presence.
- Hilb Group: Mid-Atlantic and Southeast insurance brokerage serving commercial and personal lines customers. Operates a multi-office independent agency model similar to MIG with comparable product breadth across personal, commercial, and benefits.
- Cross Insurance: Regional independent insurance agency offering personal, commercial, and benefits products across multiple states. Closely mirrors MIG's multi-line, multi-office independent agency model with comparable carrier-brokerage approach.
- AssuredPartners: Large national insurance brokerage offering personal, commercial, and benefits products through independent agency offices. Operates a similar multi-line, multi-office model to MIG and represents a comparable independent agency platform at greater scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Madison Insurance Group social profiles
Digital presenceMadison Insurance Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Madison Insurance Group leadership team
Management profileNumber of profiles
Profiles2 records
Madison Insurance Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Madison Insurance Group 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 Madison Insurance Group
What does Madison Insurance Group do?
Madison Insurance Group is an independent insurance brokerage that sells personal, commercial, employee-benefits, and Medicare insurance products on behalf of 44+ national and regional carriers. The agency does not underwrite policies; it earns carrier commissions by matching customers to carriers through agent-assisted sales at 15 physical offices, by phone, and through its website.
Is Madison Insurance Group a public or private company?
Madison Insurance Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Madison Insurance Group founded?
Madison Insurance Group was founded in 1976. It employs 11 to 50 people.
Where is Madison Insurance Group based?
Madison Insurance Group is headquartered in Oak Ridge, United States, in the North America region.
How does Madison Insurance Group make money?
One revenue line is on record: insurance Agency Commissions.
Who are Madison Insurance Group's main competitors?
Broad incumbents on record are Brown & Brown, USI Insurance Services, Arthur J. Gallagher and Marsh McLennan. Acrisure is listed as an emerging player. J. Smith Lanier & Co. is listed as a regional player. Direct peers are Houchens Insurance Group, Hilb Group, Cross Insurance and AssuredPartners.
Does Madison Insurance Group have an API?
No public API is recorded for Madison Insurance Group.
What industry is Madison Insurance Group in?
Madison Insurance Group's product category is Insurance Brokerage Services. Its primary akta.pro industry code is FSAIAFAD, Small Group Health Insurance (2–50/100), with a secondary code of FSAIAAAJ, Group Term Life Insurance. Its NAICS code is 52421 and its SIC code is 6411.