Retailers Insurance Company

What Retailers Insurance Company does

Retailers Insurance Company is a private Michigan-based workers' compensation insurance carrier headquartered in Lansing, Michigan, in operation for over 40 years (founded circa 1985). The company is the preferred workers' compensation carrier affiliated with the Michigan Retailers Association and holds a Demotech 'Unsurpassed' financial stability rating. Its core product is workers' compensation insurance sold exclusively to Michigan employers across multiple sectors (from auto repair shops to accounting offices), with differentiators including an automatic $100,000 Enterprise Cyber Liability Program on every policy, free terrorism coverage, and a $2 million employer's liability limit (four times the standard $500,000). Complementary offerings include dental insurance and broader group insurance programs marketed as add-on modules.

The business operates on a subscription/recurring premium model with quote-based pricing and annual billing, complemented by payment plan options. Distribution is built around a Michigan network of independent insurance agents who use AgentQB for quoting and Zywave's ResourceHUB for policyholder management and training content; Sedgwick serves as the third-party administrator delivering 24/7 claims service. The technology stack is a conventional insurance policy administration and claims management platform integrated with these partner ecosystems, with no proprietary AI, ML, or data platform components disclosed. Marketing is conducted through the company's own website (content marketing on workplace safety topics), a Facebook presence, and the agent channel.

Revenue, premium volume, and headcount are not publicly disclosed. The company appears to be a privately held, single-state, single-line specialist with a stable but narrow market footprint, dependent on Michigan SMB employers and the MRA member base for customer acquisition, with no disclosed funding rounds, M&A activity, or geographic expansion signals.

Name

Retailers Insurance Company

Legal name

Retailers Insurance Company

Website

https://retailersinsurance.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

1–10 employees

Short description

Retailers Insurance Company is a private Michigan-based workers' compensation insurance carrier, affiliated with the Michigan Retailers Association, that serves SMB employers across multiple sectors with enhanced coverage including automatic cyber liability protection.

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Workers’ Compensation for Small Business & Pay-As-You-Go Programs (FSAJAEAG)

Keywords

• Workers compensation insurance
• Insurance underwriting services
• Group insurance programs
• Dental insurance coverage
• Cyber liability protection

Headquarters

HQ city

Lansing

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

Revenue model

1. Workers' Compensation Insurance Premiums: Primary revenue stream from workers' compensation insurance policies. The company offers coverage with features like cyber liability protection, terrorism coverage, and higher employer liability limits as differentiators.
2. Dental Insurance: Supplementary group insurance product offering dental coverage to policyholders
3. Group Insurance Programs: Additional group insurance offerings beyond workers' compensation, including dental and other employee benefits

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Retailers Insurance Company is a Michigan-based workers' compensation insurance carrier that underwrites policies for employers across multiple sectors, including auto repair shops and accounting offices. Beyond core workers' comp coverage, it offers dental insurance, group insurance programs, additional services, and an automatically included Enterprise Cyber Liability Program with $100,000 of protection on every policy. Policies are distributed through a network of independent insurance agents and supported with 24/7 claims service via Sedgwick.

Product overview

Retailers Insurance Company offers a portfolio of insurance products centered on Workers' Compensation Insurance as the core product. The company provides a unified workers' comp solution that includes a standard $2 million employer's liability limit (higher than the $500,000 industry standard), free terrorism coverage, and an included Enterprise Cyber Liability Program with $100,000 protection on every policy. Beyond workers' compensation, the company offers supplementary products including Dental Insurance and Group Insurance Programs, with Additional Services available. The company has served Michigan employers for over 40 years with an 'Unsurpassed' financial stability rating from Demotech.

Differentiator

Problem solved

Functional benefit

Products and services

• Workers' Compensation Insurance Primary insurance product providing workers' compensation coverage for workplace injuries and illnesses for Michigan employers across multiple sectors. Policies include an Enterprise Cyber Liability Program with $100,000 of protection, free terrorism coverage, and an employer's liability limit of $2 million, which is higher than the $500,000 industry standard.
• Dental Insurance Supplementary dental insurance coverage offered as part of the company's group insurance programs to employers and their employees in Michigan.
• Group Insurance Programs Comprehensive group insurance offerings including dental and other coverage options that Michigan employers can provide to their employees alongside workers' compensation coverage.
• Additional Services
• Enterprise Cyber Liability Program Cyber fraud protection automatically included on every workers' compensation policy, providing $100,000 of protection against cyber-related losses for Michigan policyholders.

Quantifiable outcome

• $2 million employer liability limit (vs standard $500,000)
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and major.

• Michigan Retailers AssociationcoreStrategic or Co-development PartnerRetailers Insurance Company provides all policyholders with member benefits of the Michigan Retailers Association when applicable. This partnership positions the company as the preferred workers' compensation carrier for members of the state's major retail association.
• SedgwickcoreTechnology or IntegrationSedgwick serves as the third-party administrator for claims processing. The partnership provides 24/7 claims service and dedicated claims contacts for injured workers and policyholders.
• AgentQBmajorTechnology or IntegrationAgentQB is the agent portal platform used by independent agents to quote and process insurance applications for Retailers Insurance Company products.
• Zywave (ResourceHUB)majorTechnology or IntegrationZywave provides the ResourceHUB platform that offers HR templates, OSHA documentation logs, and a Learning Management System with training courses for policyholders.

Scale indicators2 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Employers Holdings: Workers' compensation specialist with monoline focus on small and mid-sized employers. Comparable in product concentration and target customer segment, though operating at a national scale.
• AF Group: Workers' compensation holding company offering monoline and specialty workers' comp solutions through independent agents. Direct competitor in the same product niche with a multi-state platform.
• Zenith Insurance Company: Specialty workers' compensation carrier focused on small and mid-sized employers. Comparable monoline workers' comp focus with a similar underwriting and service-driven value proposition.
• Accident Fund Insurance Company of America: Workers' compensation carrier headquartered in Lansing, Michigan serving employers across multiple states. Most directly comparable competitor given the same product line, overlapping Michigan footprint, and similar agent-distribution model.

Broad incumbents

• AmTrust Financial Services: Large multi-line P&C insurer with a significant workers' comp and small commercial business. Competes directly in the small-business workers' comp segment with greater scale and pricing flexibility.
• Cincinnati Financial: Midwest-headquartered P&C carrier with a sizable commercial lines book including workers' comp. Larger, publicly traded competitor with broader geographic reach and agent network.
• The Hanover Insurance Group: National P&C carrier with a regional commercial lines strategy and strong Midwest presence. Competes for small and mid-market commercial accounts including workers' comp.
• Auto-Owners Insurance: Michigan-based mutual insurer offering a broad portfolio of P&C products including workers' comp. Larger, more diversified Michigan incumbent that competes for the same regional commercial accounts.

Regional players

• Frankenmuth Insurance: Michigan-based mutual insurance carrier offering commercial lines including workers' comp. Comparable regional P&C carrier with similar Michigan roots and independent agent distribution.
• Michigan Millers Mutual Insurance Company: Regional P&C mutual insurer licensed in multiple Midwest states including Michigan. Competes in similar commercial lines and uses an independent agent distribution model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/RetailersInsurance
• LinkedInlinkedin.com/company/retailers-insurance-company

Compliance1 record

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 Retailers Insurance Company