Schaben Insurance & Financial

What Schaben Insurance & Financial does

Schaben Insurance & Financial, Inc. is a privately held independent insurance agency founded in 1998 by Gary Schaben following his acquisition of Panama Insurance in Iowa. The agency operates two physical offices in Panama and Harlan, Iowa, and serves individuals, families, and businesses across Iowa and the surrounding states of Nebraska, Missouri, Kansas, and South Dakota. It is staffed by six professionals, including three senior agents, two customer service representatives, and an office manager.

The agency offers a broad portfolio of personal and commercial insurance products, including auto, homeowners, renters, life, health, motorcycle, recreational vehicle, and annuity products on the personal side, and business insurance, construction insurance, farm insurance, and crop insurance on the commercial side. A distinguishing feature is its representation of 16+ insurance carriers (including AAA, Nationwide, Progressive, Hagerty, Grinnell Mutual, EMC, Encova, and several regional mutuals), which enables agents to compare policies across carriers to find appropriate coverage at competitive prices. The agency holds particular expertise in farm and crop insurance tailored to Western Iowa's agricultural economy.

Schaben Insurance earns revenue through commissions from the carriers it represents, with no publicly disclosed pricing or subscription model. Distribution is conducted through in-person consultations at its two offices, phone-based sales and servicing, online quote-request forms on its website, and structured referral programs. The agency is founder-owned with no venture capital or private equity backing, and has operated continuously for over two decades with agents holding 100+ years of collective experience.

Name

Schaben Insurance & Financial

Legal name

Schaben Insurance & Financial, Inc.

Website

https://schabeninsurance.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

Schaben Insurance & Financial is a privately held independent insurance agency founded in 1998, operating two offices in Iowa to serve individuals, families, and businesses across Iowa, Nebraska, Missouri, Kansas, and South Dakota with personal, commercial, farm, and crop insurance products distributed through 16+ carrier partnerships.

Ownership category

akta.pro rank

Product category

Independent Insurance Agency

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

akta.pro secondary industries

Whole Life Insurance (FSAIABAA), Homeowners Insurance (FSAJACAA)

Keywords

• Independent insurance agency
• Personal insurance
• Commercial insurance
• Farm insurance
• Crop insurance

Headquarters

HQ city

Panama

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Insurance Commissions: As an independent insurance agency, Schaben Insurance earns commissions from multiple insurance carriers for policies sold and serviced. They represent over 16 carrier partners including AAA, Continental Western, EMC, Nationwide, Progressive, and others.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Schaben Insurance & Financial is an independent insurance agency that sells and services personal and commercial insurance policies on behalf of 16+ insurance carriers. It places auto, homeowners, renters, life, health, motorcycle, recreational vehicle, and annuity policies for individuals and families, and business, construction, farm, and crop policies for commercial and agricultural clients across Iowa and surrounding states, with particular specialization in farm and crop coverage for Western Iowa.

Product overview

Schaben Insurance & Financial is an independent insurance agency offering a portfolio of personal and commercial insurance products. Their personal insurance offerings include auto, homeowners, renters, life, health, motorcycle, recreational vehicle, and annuity products. For commercial clients, they provide business insurance, construction insurance, farm insurance, and crop insurance. The agency represents multiple insurance carriers including AAA, Nationwide, Progressive, Hagerty, and regional mutuals, allowing them to compare policies across multiple insurers to find appropriate coverage at competitive prices. The company specializes in serving Western Iowa with particular expertise in farm and crop insurance due to the agricultural nature of their service region.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance Vehicle coverage protecting against property damage, liability, and medical costs from accidents, including collision, liability, MedPay, uninsured motorist, and comprehensive coverage. Sold to individual vehicle owners and families.
• Homeowners Insurance Package policy covering damage to a homeowner's property and liability for injuries and property damage caused by the policyholder or family members, with optional endorsements available. Sold to individual homeowners.
• Renters Insurance Protection against property loss and liability for renters, covering possessions against damage, liability claims, and temporary living costs if the residence becomes uninhabitable. Sold to individual renters.
• Life Insurance Financial security product providing a death benefit or income replacement through term life (10-30 year coverage) or whole life (permanent coverage with cash value) policies. Sold to individuals and families.
• Health Insurance Coverage for medical expenses including individual/family plans, group plans, vision, dental, prescription, HSAs, disability, supplemental, long-term care, and travel health insurance. Sold to individuals, families, and small employer groups.
• Annuities Retirement income product providing a stream of payments in exchange for a lump sum investment, offering tax advantages with three main types: fixed, variable, and indexed annuities. Sold to individuals planning for retirement.
• Motorcycle Insurance Specialized coverage for motorcycles including liability protections, uninsured motorist coverage, collision damage, vandalism, theft, roadside assistance, and trip interruption. Sold to motorcycle owners.
• Recreational Vehicle Insurance Coverage for RVs, boats, ATVs, snowmobiles, campers, coaches, motor homes, and travel trailers with liability and property damage protection. Sold to owners of recreational vehicles.
• Business Insurance Commercial coverage for businesses including general liability, business property, business interruption, commercial auto, professional liability, and workers' compensation. Sold to small and medium-sized businesses.
• Construction Insurance Specialized coverage for the construction industry including commercial property, contractor's tools and equipment, business interruption, liability, builder's risk, commercial auto, umbrella, and workers' compensation. Sold to contractors, carpenters, plumbers, electricians, and remodelers.
• Farm Insurance Comprehensive coverage for farm operations including farm liability, structures, dwellings, equipment and tractors, crop coverage, livestock, equine, and workers' compensation. Sold to farm owner-operators.
• Crop Insurance Coverage helping replace lost income if crops are damaged by covered perils, including weather-related events such as hail. Sold to crop farmers.

Quantifiable outcome

• 20 years of continuous operation serving individuals, families, and businesses
• +1 more outcomes

Named customers6 records

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

17 partnerships are on record, tiered minor and core.

• Shelby County Chamber of Commerce & IndustryminorGTM or Marketing PartnerLocal chamber partnership providing business networking opportunities and community engagement. Located at 1901 Hawkeye Avenue, Suite 101, Harlan, IA 51537. Phone: 712-755-2114.
• AAA InsurancecoreChannel Partner/ Reseller/ DistributorNational insurance carrier partnership providing auto, home, and other personal insurance products through the independent agency.
• Continental WesterncoreChannel Partner/ Reseller/ DistributorInsurance carrier providing commercial and personal insurance products.
• EMC InsurancecoreChannel Partner/ Reseller/ DistributorRegional insurance carrier providing property and casualty coverage.
• NationwidecoreChannel Partner/ Reseller/ DistributorNational insurance carrier providing a wide range of personal and commercial insurance products.
• ProgressivecoreChannel Partner/ Reseller/ DistributorNational auto and personal lines insurance carrier.
• HagertycoreChannel Partner/ Reseller/ DistributorSpecialty insurance carrier for classic vehicles, boats, and recreational equipment.
• Farmers Mutual HailcoreChannel Partner/ Reseller/ DistributorCrop insurance specialist carrier serving agricultural operations.
• Great American CropcoreChannel Partner/ Reseller/ DistributorCrop insurance provider for agricultural operations.
• Rain & HailcoreChannel Partner/ Reseller/ DistributorCrop insurance specialist providing hail and other weather-related crop coverage.
• Danish MutualcoreChannel Partner/ Reseller/ DistributorRegional mutual insurance company.
• EncovacoreChannel Partner/ Reseller/ DistributorRegional insurance carrier providing personal and commercial coverage.
• ForemostcoreChannel Partner/ Reseller/ DistributorInsurance carrier providing specialty products for manufactured homes, RVs, and motorcycles.
• Grinnell MutualcoreChannel Partner/ Reseller/ DistributorRegional mutual insurance carrier serving Iowa and surrounding states.
• North Star MutualcoreChannel Partner/ Reseller/ DistributorRegional mutual insurance company providing farm and commercial coverage.
• United MutualcoreChannel Partner/ Reseller/ DistributorRegional mutual insurance carrier.
• West BendcoreChannel Partner/ Reseller/ DistributorInsurance carrier providing business and personal insurance products in the Midwest.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Others

• Grinnell Mutual: Regional mutual insurance carrier that is both a Schaben carrier partner and a peer in serving Iowa/Midwest farm and personal lines. Comparable regional focus on agricultural and personal insurance customers.
• EMC Insurance Companies: Regional P&C carrier serving Iowa and the Midwest, listed as a Schaben carrier partner. Comparable regional Midwest focus on farm, commercial, and personal insurance customers.

Direct peers

• Hilb Group: PE-backed independent insurance brokerage platform that acquires and consolidates regional agencies across the Eastern and Midwestern U.S. Comparable independent agency business model with multi-line, multi-carrier offerings.
• Leavitt Group: Network of independent insurance agencies across the Western U.S. that operates as an aggregator of regional agencies. Closely comparable to Schaben as a multi-carrier independent agency serving personal, commercial, farm, and specialty lines through local offices.
• Heffernan Insurance Brokers: Mid-size independent insurance brokerage offering personal, commercial, and specialty coverage through multiple carrier partnerships. Comparable multi-line, multi-carrier independent agency model serving SMBs and individuals.
• AssurePartners: PE-backed roll-up of mid-market independent insurance agencies across the U.S. Highly comparable business model — multi-carrier retail brokerage with personal and commercial lines — and an active acquirer of agencies like Schaben.

Broad incumbents

• Brown & Brown Insurance: National insurance brokerage and risk management firm with retail, commercial, and specialty operations. Comparable independent brokerage/agency model and multi-line offerings, scaled nationally.
• Hub International: Large North American insurance brokerage serving commercial, personal, and specialty lines through a network of offices. Comparable multi-carrier brokerage model with retail and commercial focus, though at materially larger scale.
• Arthur J. Gallagher & Co. One of the largest global insurance brokerage and risk management firms. Overlaps with Schaben in retail brokerage, multi-carrier placement, and commercial/personal lines, but operates at vastly greater scale and scope.

Regional players

• Holley Insurance Agency: Mid-size independent insurance agency serving individuals and businesses across the Midwest, comparable to Schaben in multi-carrier independent agency model, personal/commercial lines focus, and community-based distribution.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/SchabenIns
• Facebookfacebook.com/SchabenInsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Schaben Insurance & Financial