Professional Solutions Insurance Services

What Professional Solutions Insurance Services does

Professional Solutions Insurance Services is a privately held insurance and financial services provider founded in 2006 and headquartered in Clive, Iowa, operating under the DBA 'Professional Solutions - Insurance & Financial Services.' The company serves three primary verticals: dental practices, physicians, and small business owners. Its core offering is professional liability (malpractice) insurance for dental and medical professionals, complemented by business insurance, risk management advisory, and claims services with access to dedicated claims representatives and local attorneys.

Beyond insurance, the company operates a financial services arm that distributes equipment loans, working capital loans, the MilesAway Visa Signature business credit card, and credit card processing through a partnership with NCMIC (co-branded as MyMerchant). It also offers Practice Management Bridge, a workflow tool connecting practice management systems to financial services for dental professionals. Revenue is generated through recurring insurance premiums (subscription) and transaction/interchange fees from financial products (loans, credit card, processing). Sub-brands include MilesAway, MyMilesAway Rewards, MyMerchant, and Practice Management Bridge.

The company employs 11-50 people and distributes through a hybrid go-to-market model: dedicated agents for physician malpractice coverage, a self-service portal for dental malpractice applications, and digital application flows for financial products. Marketing relies on its website, content marketing (webinars, articles, and checklists on risk management topics), organic social media (Facebook, Twitter, LinkedIn), and referral through the agent network. Leadership consists of CEO Mike McCoy. No funding rounds, M&A activity, parent company, or revenue figures are disclosed in the available data.

Name

Professional Solutions Insurance Services

Website

https://psis-ins.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Professional Solutions Insurance Services is a privately held insurance and financial services provider offering malpractice and business insurance, loans, credit cards, and payment processing primarily to dental practices, physicians, and small business owners in the United States.

Ownership category

akta.pro rank

Product category

Professional Liability Insurance

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Medical Malpractice Liability (FSAJADAK)

akta.pro secondary industries

Professional Liability (Errors & Omissions) (FSAJADAB), Healthcare Professional Liability (Med Mal) (FSAJAGAE)

Keywords

• Malpractice insurance
• Business insurance
• Dental practice financing
• Physician liability coverage
• Credit card processing

Headquarters

HQ city

Clive

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Malpractice Insurance Premiums: Recurring insurance premiums for dental and physician malpractice coverage, the core revenue stream for the company.
2. Business Insurance: Insurance products covering various aspects of dental practices and business operations, generating recurring premium revenue.
3. Financial Products: Equipment loans, working capital loans, business credit cards (MilesAway Visa Signature), and credit card processing services generating transaction and interest-based revenue.
4. Credit Card Processing: Payment processing services for dental and business customers generating transaction fees.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Professional Solutions Insurance Services provides specialty insurance (primarily dental and physician malpractice liability, plus business insurance) and complementary financial products (equipment loans, working capital loans, MilesAway Visa Signature business credit card, and credit card processing) targeted at dental practices, physician practices, and small business owners. Their offerings are supported by risk management advisory, claims services, and a portal-based practice management integration.

Product overview

Professional Solutions offers a unified portfolio of insurance and financial products tailored for dental professionals, physicians, and business owners. The insurance suite centers on malpractice coverage (the flagship offering for both dental and physician segments), complemented by business insurance, risk management, and claims services. The financial services division provides equipment loans, working capital loans, the MilesAway Visa Signature business credit card, and credit card processing services. Products are delivered through a web portal with additional tools like Practice Management Bridge connecting to practice workflows.

Differentiator

Problem solved

Functional benefit

Brands

• MilesAway: Business credit card offering MilesAway Visa Signature cards for dental and business owner customers
• MyMilesAway Rewards
• MyMerchant
• Practice Management Bridge

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• NCMICcoreStrategic or Co-development PartnerNCMIC is referenced through the MyMerchant service link (mymerchant.ncmic.com), indicating a partnership for credit card processing services. NCMIC is a well-known financial services company in the dental/medical space, suggesting a co-branding or referral relationship.
• MilesAwaycoreOthersMilesAway Visa Signature business credit card program offered through Professional Solutions, with dedicated reward sites (mymilesaway.com, mymilesawayrewards.com), indicating a financial product partnership for credit card issuance and rewards management.
• SpinutechminorOthersWebsite development vendor credited for site development, noted in footer as 'Site by Spinutech'.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Emerging players

• Next Insurance: Digital-first insurance carrier serving small businesses and professionals with streamlined, self-serve policies including professional liability. Comparable in targeting SMB professionals with a portal-led experience, and represents a competitive threat on UX and pricing.
• CoverWallet: Digital insurance brokerage focused on small and mid-sized businesses, offering professional liability, general liability, and other commercial coverages. Comparable as a technology-enabled SMB insurance distributor, though it serves a broader set of professions.

Broad incumbents

• Marsh & McLennan Agency: Large U.S. insurance brokerage distributing commercial and professional lines, including malpractice and SMB coverages. Comparable as a multi-line insurance agency, though far broader in scale, products, and geographic reach.
• Beazley Group: Global specialty insurer with a substantial professional liability and healthcare malpractice practice. Operates in the same professional liability space at greater scale and broader geography than Professional Solutions.
• Aon plc: Global professional services firm with a large insurance brokerage and risk management practice serving businesses of all sizes. Overlaps with Professional Solutions on distribution of professional and commercial lines, though at vastly greater scale.

Direct peers

• NCMIC Insurance Company: Long-standing provider of professional liability insurance for chiropractors and other healthcare professionals, with deep roots in the dental/medical financial services space. Highly comparable because it sells the same malpractice coverage class to healthcare professionals and is also an active partner of Professional Solutions.
• Hiscox Insurance: Specialty insurer focused on professional liability and small-business insurance, including coverage for professionals and SMBs. Comparable in targeting SMB professional and small-business customers with professional liability and bundled business coverages.
• ProAssurance Corporation: Specialty property/casualty insurer with a meaningful healthcare professional liability book, including physician and dental malpractice. Comparable in product mix and customer base, though typically larger and publicly traded.
• Medical Protective: National medical professional liability carrier serving physicians, dentists, and other healthcare providers with malpractice insurance and risk solutions. Direct competitor in dental and physician professional liability with a comparable specialty focus.
• The Doctors Company: Largest physician-owned medical malpractice insurer in the U.S., offering professional liability coverage, claims services, and risk management to physicians and practices. Direct overlap with Professional Solutions' physician malpractice segment and claims-handling value proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks1 record

Key highlights5 records

Customer concentration

• Xx.com/psis_insurance
• Facebookfacebook.com/PSISInsurance
• LinkedInlinkedin.com/company/professional-solutions-insurance-services

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Professional Solutions Insurance Services