The Wyman Group
The Wyman Group is a privately-held insurance brokerage and employee benefits consulting firm in Peoria, Illinois, serving over 250 Central Illinois businesses and individuals across employee benefits, property & casualty, financial services, and HR/payroll technology.
- Company typePrivate
- Founded1986
- HeadquartersPeoria, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What The Wyman Group does
The Wyman Group, legally C.L. Wyman and Associates, Inc., is a privately-held insurance brokerage and employee benefits consulting firm headquartered in Peoria, Illinois. Founded in 1986 by Cecil Wyman, the firm serves businesses and individuals across Central Illinois through four core service lines: employee benefits consulting (health benefits management, wellness, compliance, and benchmarking), property and casualty insurance, financial services (life insurance, annuities, retirement planning, Medicare supplements), and HR & payroll technology. Ancillary benefits (dental, vision, life, disability) and small-business planning are offered as modular add-ons. The company operates as a full-service brokerage practice rather than a SaaS or technology platform, leaning on vendor partnerships and consulting expertise to deliver customized solutions; no proprietary technology stack or AI/ML capabilities are disclosed.
The business model is commission- and consulting fee-based, with revenue derived from insurance brokerage commissions and consulting work across employee benefits, property and casualty, and financial services. Pricing is not publicly disclosed and is customized per client. Distribution is direct and relationship-driven, with account managers and consultants engaging Central Illinois employer groups across enterprise and mid-market segments; inbound lead generation runs through the firm's website and a "Coverage Review" web form. The customer base spans over 250 client partnerships across both businesses (primary segment) and individuals and families (secondary segment).
The firm is locally owned and managed by Tim Wyman (President, joined 1992) and Matt Wyman (CFO), sons of founder Cecil Wyman, who retired in 2017. The company previously operated a third-party administrator subsidiary, Progressive Benefit Services, which it sold in 2007 to focus exclusively on its consulting mission. Cecil Wyman was an early Central Illinois proponent of partially self-funded health plans. The firm is the self-described largest employee benefits brokerage in Central Illinois.
The Wyman Group firmographics
Firmographics- Name
- The Wyman Group
- Legal name
- C.L. Wyman and Associates, Inc.
- Website
- https://wyman-group.com
- Company type
- Private
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- The Wyman Group is a privately-held insurance brokerage and employee benefits consulting firm in Peoria, Illinois, serving over 250 Central Illinois businesses and individuals across employee benefits, property & casualty, financial services, and HR/payroll technology.
- Ownership category
- akta.pro rank
The Wyman Group industry classification
Industry- Product category
- Insurance Brokerage and Benefits Consulting
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Small Group Health Insurance (2–50/100) (FSAIAFAD)
- akta.pro secondary industries
- Level-Funded Group Health Plans (FSAIAFAC), Supplemental/Voluntary Group Term Life (Employee-Paid) (FSAIADAB), Group AD&D (Standalone or Bundled with Life) (FSAIADAG)
Keywords
Where The Wyman Group is headquartered
LocationHeadquarters
- HQ city
- Peoria
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
The Wyman Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Insurance Brokerage and Consulting Fees: Revenue generated through insurance brokerage commissions and consulting fees for employee benefits, property & casualty, and financial services. The company operates as a benefits broker/consultant delivering health insurance, ancillary benefits, and risk management services to employer groups.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
The Wyman Group product offering
Product offeringCore offering
The Wyman Group is an employee benefits, property & casualty, and human resources consulting firm that designs, manages, and brokers insurance and benefit programs for employer groups in Central Illinois. It delivers health benefits management (including partially self-funded plans), P&C coverage, ancillary benefits, HR/payroll technology administration, and individual/business financial planning as an integrated brokerage and consulting practice.
Product overview
The Wyman Group is an insurance and employee benefits consulting firm offering a portfolio of integrated services rather than a unified software platform. Its core offerings include Employee Benefits Consulting (health benefits management, wellness, compliance), Property & Casualty Insurance (business and personal coverage), Financial Services (business and individual planning), and HR & Payroll Technology (payroll processing, benefits administration). These services are complemented by Ancillary Benefits (dental, vision, life, disability add-ons) and Small Business Planning modules. The company positions itself as a full-service brokerage and consulting practice, utilizing technology to deliver innovative strategies while providing hands-on advisory services.
Differentiator
Problem solved
Functional benefit
Products and services
- Employee Benefits Consulting Health benefits management, design, funding strategies (including partially self-funded plans), wellness development, employee communication, vendor administration, compliance support, and benchmarking services for employer groups in Central Illinois.
- Property & Casualty Insurance Complete line of coverage for business and personal insurance needs including business property, auto, liability, workers' compensation, crime, professional liability, and personal coverage such as home/auto, watercraft, and umbrella policies.
- Financial Services Professional financial planning services for businesses and individuals including business consultation, life insurance, disability protection, annuities, long-term care insurance, Medicare supplements, and retirement planning.
- HR & Payroll Technology Comprehensive HR and payroll services including payroll processing, tax compliance, human resources management, benefits administration, employee/manager self-service portals, FSA/COBRA administration, and 401(k) services.
- Ancillary Benefits Additional employee benefit coverages including dental, disability, vision, life, critical illness, and identity theft monitoring/recovery, offered as part of a comprehensive employee benefits package.
- Small Business Planning Specialized insurance planning services tailored for small businesses, helping select appropriate plans and coverage options within the firm's broader brokerage and consulting offering.
Companies that use The Wyman Group
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles3 records
The Wyman Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The Wyman Group partnerships and signals
Strategic signalScale indicators3 records
Recent moves7 records
Expansion highlights2 records
The Wyman Group competitors and assessment
Company assessmentBroad incumbents
- NFP: Mid-size insurance brokerage and consulting firm (now part of Aon) offering employee benefits, P&C, wealth management, and HR consulting. Highly comparable service mix to The Wyman Group's multi-line practice, though at significantly larger scale.
- Brown & Brown, Inc. Large national insurance brokerage delivering employee benefits, P&C, and risk solutions across the U.S. Competitive incumbent for mid-market employer accounts in Central Illinois that might otherwise consider The Wyman Group.
- Hub International: Large North American insurance brokerage with deep regional offices across the Midwest. Comparable to The Wyman Group on product mix (benefits, P&C, personal lines) but operates at substantially greater scale, often entering the same mid-market segment Wyman targets.
- USI Insurance Services: National insurance brokerage and consulting firm offering employee benefits, P&C, and retirement solutions to mid-market and large employers. Overlaps with Wyman Group's core offerings, with USI acting as a competitive incumbent for larger Central Illinois accounts.
- Arthur J. Gallagher & Co. One of the largest global insurance brokerages providing risk management, employee benefits, and consulting services. Comparable on the employee benefits brokerage function; represents the 'big Chicago consultant' that The Wyman Group explicitly positions against on cost.
- Marsh & McLennan: Global professional services firm operating the world's largest insurance brokerage (Marsh). Comparable on employee benefits and risk consulting offerings; represents the largest-scale competitive alternative for mid-market and enterprise clients in Wyman Group's territory.
Direct peers
- Hylant Group: Toledo, Ohio-based commercial insurance brokerage specializing in employee benefits, P&C, and risk services for mid-market businesses. Comparable as a regional Midwest broker with a multi-line service portfolio similar to The Wyman Group's offering.
- Cottingham & Butler: Dubuque, Iowa-based insurance brokerage offering employee benefits, P&C, and risk management consulting to mid-market employers in the Midwest. Closely comparable to The Wyman Group in scale, geographic orientation, and integrated services model.
- Holmes Murphy & Co. Iowa-based insurance brokerage and employee benefits consultancy serving mid-market employers across the Midwest. Highly comparable to The Wyman Group given similar size, multi-line service mix (benefits, P&C, risk management), and deep regional focus with comparable client segments.
- OneDigital: National employee benefits and HR consulting firm focused on mid-market and large employers. Comparable to The Wyman Group on the benefits and HR/payroll consulting side, though broader and tech-enabled; serves as the benchmark for what a scaled version of the Wyman model could look like.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
The Wyman Group social profiles
Digital presenceThe Wyman Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Wyman Group leadership team
Management profileNumber of profiles
Profiles7 records
The Wyman Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Wyman 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 The Wyman Group
What does The Wyman Group do?
The Wyman Group is an employee benefits, property & casualty, and human resources consulting firm that designs, manages, and brokers insurance and benefit programs for employer groups in Central Illinois. It delivers health benefits management (including partially self-funded plans), P&C coverage, ancillary benefits, HR/payroll technology administration, and individual/business financial planning as an integrated brokerage and consulting practice.
Is The Wyman Group a public or private company?
The Wyman Group is a private company. It is classified as family owned and is currently operating.
When was The Wyman Group founded?
The Wyman Group was founded in 1986. It employs 11 to 50 people.
Where is The Wyman Group based?
The Wyman Group is headquartered in Peoria, United States, in the North America region.
How does The Wyman Group make money?
One revenue line is on record: insurance Brokerage and Consulting Fees.
Who are The Wyman Group's main competitors?
Broad incumbents on record are NFP, Brown & Brown, Inc., Hub International, USI Insurance Services, Arthur J. Gallagher & Co. and Marsh & McLennan. Direct peers are Hylant Group, Cottingham & Butler, Holmes Murphy & Co. and OneDigital.
Does The Wyman Group have an API?
No public API is recorded for The Wyman Group.
What industry is The Wyman Group in?
The Wyman Group's product category is Insurance Brokerage and Benefits Consulting. Its primary akta.pro industry code is FSAIAFAD, Small Group Health Insurance (2–50/100), with a secondary code of FSAIAFAC, Level-Funded Group Health Plans. Its NAICS code is 524292 and its SIC code is 6411.