Insurance Management Services

What Insurance Management Services does

Insurance Management Services (IMS) is a privately held third-party administrator (TPA) headquartered in Amarillo, Texas, that administers self-funded employer health benefit plans. Founded in March 1983 by Joe Clark and Steve Willingham, IMS serves self-funded employers and their employees/dependents across the U.S., reporting 40,000+ members served and 140+ employees. The firm operates as Insurance Management Services Marketing, Inc., has no disclosed parent company or external institutional investors, and distributes through licensed insurance brokers and consultants as well as direct employer sales.

IMS's core offering is end-to-end administration of self-funded health plans: claims processing, customer service with a single dedicated representative per client (the Participant Advocate Program), medical cost management via direct provider contracts, provider network access through its locally owned Omni Networks (top-rated in the Texas Panhandle by major reinsurance carriers), and add-on services including COBRA administration, FSA/HRA management, dental claims, disability management, and managed care/pre-certification. The underlying technology stack includes a claims processing system, a member and employer portal (IMSTPA Online), a secure document vault, and integrations with Healthcare Bluebook (price transparency), CVS Caremark and Prime Therapeutics (PBM), Benny Card (FSA payments), and Zixmail (secure email).

IMS monetizes primarily through TPA administration fees on a quote-based, annualized billing cycle, with additional revenue from stop-loss commissions, PBM/network access partnerships, and ancillary administration services. The most recent strategic move is the May 2026 launch of CGT Solutions Stop-Loss, a standalone medical stop-loss product covering gene and CAR T-cell therapies underwritten by Fidelity Security Life Insurance Company, extending IMS into a niche, high-cost therapy risk-solution category. The company markets itself around local ownership, personal service, and cost transparency, positioning against large national insurance carriers.

Name

Insurance Management Services

Legal name

Insurance Management Services Marketing, Inc.

Website

https://imstpa.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

1–10 employees

Short description

Insurance Management Services is a privately held third-party administrator founded in 1983 in Amarillo, Texas, providing claims processing, cost management, provider network access, and ancillary benefits administration to self-funded employers and their 40,000+ members across the United States.

Ownership category

akta.pro rank

Product category

Third-Party Health Plan Administration

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Hospital & Medical Service Plans (6324), Services-Health Services (8000)

akta.pro primary industry

Member Services & Contact Center Operations (TPA) (HLAEALAI)

akta.pro secondary industries

Compliance, Reporting & Regulatory Administration (ERISA/ACA/No Surprises) (HLAEALAJ), Care Management & Population Health Program Administration (HLAEALAG)

Keywords

• Third-party administration
• Self-funded health plans
• Claims processing services
• Stop-loss insurance
• Medical cost management

Headquarters

HQ city

Amarillo

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. TPA Administration Fees: Fees charged to self-funded employers for third-party administrative services including claims processing, customer service, and plan management
2. Stop-Loss Insurance Products: Specialized stop-loss insurance products such as CGT Solutions covering gene and CAR T-cell therapies, underwritten by Fidelity Security Life Insurance Company
3. Network Access Fees: Access to provider networks including direct contracts with providers for cost savings on healthcare services
4. Prescription Benefit Management: PBM services through partners including CVS Caremark and Prime Therapeutics for prescription drug benefits

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

IMS is a third-party administrator (TPA) that designs and administers self-funded health benefit plans for employers, handling claims processing, medical cost management, provider network access, COBRA and FSA/HRA administration, and prescription benefit management. It also distributes specialized stop-loss coverage, including the CGT Solutions product for gene and CAR T-cell therapies, and offers the Participant Advocate Program for personalized member support.

Product overview

Insurance Management Services (IMS) is a third-party administrator (TPA) offering a comprehensive suite of self-funded health plan management services. The core offering consists of customizable self-funded health plans with integrated claims processing, medical cost management, and provider networks. The product portfolio includes Wellness Works HRA, Flexible Spending Account (FSA) programs, COBRA administration, dental claims processing, disability management, managed care/pre-certification services, and a Participant Advocate Program. IMS also offers the CGT Solutions Stop-Loss product for covering high-cost gene and CAR T-cell therapies. The company operates primarily in the Texas Panhandle region with its locally owned Omni Networks provider network.

Differentiator

Problem solved

Functional benefit

Products and services

• Self-Funded Health Plan Administration Custom self-funded health plan administration for employers, including claims processing, provider network access, and cost containment, serving as IMS's foundational TPA offering.
• Claims Processing Services Fast, accurate, and transparent claims processing services for self-funded employer health plans administered by IMS.
• Medical Cost Management
• COBRA Administration COBRA notification and administration services for employers managing continuation coverage of group health plans.
• Flexible Spending Account (FSA) and Wellness Works HRA FSA program with Benny Card for healthcare expenses and Wellness Works HRA program with assessment videos and reimbursement management.
• Provider Network Access (Omni Networks) Access to IMS's locally owned Omni Networks provider network, recognized as a top-rated provider network in the Texas Panhandle, including 100+ Centers of Excellence for specialized care.
• Prescription Benefit Management Pharmacy benefit management services delivered through CVS Caremark and Prime Therapeutics, including mail order, specialty pharmacy, prior authorization, and member portal access.
• CGT Solutions Stop-Loss Standalone medical stop-loss insurance product covering gene and CAR T-cell therapies for self-funded group health plans, underwritten by Fidelity Security Life Insurance Company, reimbursing therapy, administration, and travel expenses.
• Managed Care Services Pre-certification, pre-determination, and medical management services covering chemotherapy, radiation, and outpatient therapy for self-funded plans.
• Disability Management Services Short-term disability and dependent disability information management services for self-funded employer plans.
• Dental Claims Processing Dental claim form processing and management services for self-funded employer plans.

Quantifiable outcome

• 40,000+ members served
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core and supporting.

• Fidelity Security Life Insurance CompanycoreStrategic or Co-development Partner · 12 May 2026Fidelity Security Life Insurance Company underwrites IMS's CGT Solutions Stop-Loss insurance product, a standalone medical stop-loss product covering gene and CAR T-cell therapies for group health plans. This partnership enables IMS to offer innovative stop-loss coverage addressing multi-million dollar gene therapy claims.
• Healthcare BluebooksupportingTechnology or IntegrationHealthcare Bluebook provides price transparency tools and machine readable files integrated with IMS services, enabling members to compare healthcare costs and find value-based care options.
• CVS CaremarksupportingTechnology or IntegrationCVS Caremark provides prescription benefit management services including mail order pharmacy, specialty pharmacy, and prior authorization processes for IMS-administered plans.
• Prime TherapeuticssupportingTechnology or IntegrationPrime Therapeutics provides pharmacy benefit management services including specialty pharmacy, prior authorization support, and member portal access for prescription management.
• Joe ClarkcoreOthersJoe Clark is the co-founder of IMS who started the company in March 1983, originally handwriting checks and managing claims from his kitchen table before the company had an office or employees.
• Steve WillinghamcoreOthersSteve Willingham partnered with Joe Clark a few months after IMS was founded in 1983, helping officially build IMS into a third-party administrator.

Scale indicators5 records

Recent moves3 records

Expansion highlights5 records

Direct peers

• Lucent Health: Third-party administrator of self-funded health plans providing claims, network, and care management services to employers nationwide — closest direct peer in scale and product mix.
• Allied Benefit Systems: Independent TPA providing self-funded health plan administration, PBM coordination, and stop-loss coordination to employer groups — closely aligned business model and customer profile to IMS.
• HealthSmart: Independent third-party administrator offering self-funded health plan administration, PBM, and stop-loss products to mid-market employers — directly comparable business model, customer base, and service portfolio to IMS.
• Cypress Benefit Administrators: Privately held TPA serving self-funded employer health plans with custom plan design and claims administration; competes in the same mid-market broker-distributed channel as IMS.
• Imagine360: TPA focused on self-funded employer health plans with cost-containment capabilities and provider network management; targets similar mid-market employer segment as IMS and competes via value-based plan design.
• Professional Benefit Administrators (PBA): Independent third-party administrator specializing in self-funded health, dental, and disability plans for employers — directly comparable services and customer base to IMS.
• Luminare Health: TPA offering self-funded plan administration, care management, and provider network services to mid-market employers; comparable business model with overlapping employer target segment.

Broad incumbents

• UMR: UnitedHealthcare's TPA subsidiary administering self-funded plans for employers of all sizes; broad incumbent with vastly greater scale and proprietary technology, often competing against IMS in employer procurement cycles.
• Meritain Health: Large TPA owned by Anthem/CVS Health serving self-funded employer plans; broader portfolio and substantially larger scale than IMS, but competing in the same mid-market employer segment.
• Aetna (TPA / OneNet PPO): Major national carrier offering TPA-style administration for self-funded employer groups as part of a broader insurance portfolio; broad incumbent competitor with much larger scale and proprietary networks.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/IMSAmarillo
• LinkedInlinkedin.com/company/insurance-management-services

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Insurance Management Services