Masters Insurance

What Masters Insurance does

Masters Insurance is a privately held independent insurance agency founded in 1996 and headquartered in Anderson, Indiana, operating four physical offices across the state (Anderson, Fort Wayne, Dunkirk, Muncie). The agency distributes a multi-line portfolio of insurance and financial products on behalf of multiple carriers, offering vehicle, home, life, business, specialty, umbrella insurance, and financial planning services to Indiana individual consumers and small-to-medium businesses. As an independent agency, it does not develop proprietary technology and relies on standard industry software for policy management, quoting, and customer relationship workflows.

The company's revenue model is commission-based: it earns carrier commissions on policies sold and serviced across its multi-carrier portfolio. Go-to-market is predominantly direct-to-consumer, executed through in-person consultations at its four offices, phone-based inside sales (Monday through Saturday), and a website with quote and contact forms. Content marketing via blog and Instagram serves as a top-of-funnel acquisition channel, while the agency emphasizes personalized, relationship-driven advisory service over mass-market distribution. Customer segments span individual consumers (home, auto, life, specialty, umbrella) and small-to-medium businesses (general liability, commercial property, workers compensation, commercial auto, professional liability, business interruption), with a secondary push into independent contractor and freelancer coverage.

Operationally, the agency is family-connected through the Masters name (multiple agents in the Dunkirk office), and it offers claims assistance even to non-clients — a relationship-oriented positioning in a commoditized brokerage market. No institutional ownership, funding rounds, M&A activity, or technology differentiation signals are present; the competitive position rests on multi-carrier access, local physical presence across four Indiana communities, and bundled multi-line service delivery.

Name

Masters Insurance

Legal name

Masters Insurance

Website

https://insurewithmasters.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Masters Insurance is a privately held independent insurance agency operating four offices across Indiana, distributing multi-line personal and commercial insurance plus financial services on a commission basis from multiple carriers. It serves individual consumers and small-to-medium businesses in Anderson, Fort Wayne, Dunkirk, and Muncie.

Ownership category

akta.pro rank

Headquarters

HQ city

Dunkirk

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Agency Commissions: As an independent insurance agency, Masters Insurance earns commissions from multiple insurance carriers for policies sold and serviced. They work with multiple carriers to provide customized commercial and personal insurance solutions to customers across Indiana.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Masters Insurance is an independent insurance agency that sells and services personal and commercial insurance policies on behalf of multiple insurance carriers across Indiana. Its core offerings include Vehicle Insurance, Home and Property Insurance, Life Insurance, Business Insurance, Specialty Insurance, Umbrella Insurance, and Financial Services, tailored by dedicated agents at four physical office locations. The agency earns carrier commissions for policies placed and serviced, and assists customers with claims even on policies held with other insurers.

Product overview

Masters Insurance is an independent insurance agency offering a comprehensive portfolio of insurance products and financial services across Indiana. The product lineup centers on seven core offerings: Vehicle Insurance (auto coverage with liability, collision, comprehensive, medical payments, rental reimbursement, and roadside assistance), Home and Property Insurance (standard HO-3 homeowners policies covering dwelling, personal property, liability, and loss of use), Life Insurance (term and permanent policies), Business Insurance (commercial lines including general liability, commercial property, workers compensation, commercial auto, professional liability, and business interruption), Specialty Insurance (customized coverage for classic cars, RVs, boats, ATVs, and high-value personal property), Umbrella Insurance (excess liability protection), and Financial Services (personalized financial planning and savings programs). These products are offered as individual policies that can be bundled, with the agency serving as an independent agent working with multiple carrier partners to customize coverage for personal and commercial clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Vehicle Insurance Auto insurance offering liability coverage, collision, comprehensive protection, medical payments, rental reimbursement, and roadside assistance tailored to individual driver needs.
• Home and Property Insurance Homeowners insurance (HO-3 policy) covering dwelling, other structures, personal property, liability, loss of use, and medical payments for Indiana homeowners.
• Life Insurance Term and permanent life insurance policies providing financial protection for families, including income replacement and wealth transfer options.
• Business Insurance Commercial insurance solutions including general liability, commercial property, workers compensation, commercial auto, professional liability (E&O), and business interruption coverage for Indiana businesses.
• Specialty Insurance Customized coverage for unique items and situations including classic car insurance, RV insurance, boat and watercraft insurance, ATV and snowmobile insurance, and high-value personal property coverage.
• Umbrella Insurance Extra layer of liability protection extending beyond standard home, auto, and business insurance policies, covering legal fees, medical bills, and damages from lawsuits.
• Financial Services Financial planning services including personalized financial planning, savings alternatives, continuous monitoring and plan adjustments, and straightforward communication of complex financial information.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Allstate: A national P&C insurer with both captive agents and direct channels competing for the same Indiana customers. Allstate is comparable because it is a primary competitor for the personal lines premium Masters Insurance distributes.
• Erie Insurance: A regional P&C carrier that distributes exclusively through independent agents in the Midwest and Mid-Atlantic. Erie is directly comparable because it competes for the same Indiana household and small-business premium via the same agency channel that Masters Insurance relies on.
• Auto-Owners Insurance: A Midwest-focused mutual P&C insurer distributing exclusively through independent agents. Auto-Owners is comparable because independent agents like Masters Insurance are primary distribution partners and customers compare Erie, Auto-Owners, and other carriers head-to-head.
• State Farm: The largest U.S. personal lines insurer distributing through captive agents. State Farm competes head-to-head with Masters Insurance for Indiana auto, home, and life insurance customers via a stronger brand and exclusive agent model.
• COUNTRY Financial: A Midwest-focused mutual insurer distributing through a captive agent force across Indiana, Illinois, and surrounding states. COUNTRY directly competes with Masters Insurance for Indiana household and farm insurance premium.
• Westfield Insurance: A Midwest-based mutual P&C carrier distributing exclusively through independent agents in Ohio, Indiana, and surrounding states. Westfield is comparable because independent agents like Masters Insurance are primary distribution partners and customers compare its policies against Erie and Auto-Owners when choosing a carrier.

Direct peers

• Brown & Brown, Inc. A publicly traded insurance brokerage built via acquisition of independent agencies across the U.S. Brown & Brown exemplifies the rollup opportunity available to Masters Insurance and competes for the same mid-market commercial accounts in Indiana.
• Arthur J. Gallagher & Co. A top global insurance brokerage and risk management firm serving commercial and personal lines through independent distribution. Gallagher is comparable because it represents the larger-scale end of the same multi-carrier agency business model Masters Insurance operates.
• HUB International: A large North American insurance brokerage that serves both personal and commercial lines through a multi-carrier, multi-office agency model. HUB is comparable because it operates the same independent agency distribution playbook as Masters Insurance at much greater scale.
• The Hilb Group: A rapidly growing mid-market insurance brokerage built via acquisitions of independent agencies across the Eastern U.S. Hilb is comparable because it operates the same multi-line, multi-carrier agency model Masters Insurance operates, and its acquisition strategy illustrates the rollup opportunity in this market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/mastersmfn
• LinkedInlinkedin.com/company/masters-insurancein

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Masters Insurance