National Insurance Brokers

What National Insurance Brokers does

National Insurance Brokers (NIB) is a privately-held independent insurance brokerage founded in 1984 and headquartered in Forest Lake, Minnesota. The company operates approximately 17 physical branch offices across Minnesota and serves individuals, families, and small-to-mid-sized businesses with both personal and commercial insurance products. NIB functions as an aggregator, shopping 300+ insurance solutions from 40+ insurance carriers to identify optimal coverage and pricing for clients across categories including homeowners, auto, life, health, umbrella, recreation, commercial auto, employee benefits, errors & omissions, general liability, inland marine, liquor liability, and workers compensation. The company operates a network of retained local agency brands (Villacorta Insurance Agency, Simonson Agency, Veronen Agency, Laketown Agency, Hogan/Dochniak Agency, and John Fry "The Insurance Guy") under the unified NIB umbrella.

The business model is built on traditional insurance brokerage commissions: as an independent agent, NIB earns transaction-based fees from carriers for each policy placed or renewed. Distribution is entirely agent-assisted, with no self-serve, marketplace, or e-commerce channels. Customers initiate contact via phone, email, or a 'Consult An Expert' web form, after which licensed agents conduct discovery, comparison shopping, policy presentation, implementation, and ongoing annual reviews. Pricing is quote-based and individualized; no public rate cards or tiered plans are published. Marketing is driven primarily by local branch presence and an educational content blog; no paid advertising, social media, or SEO/SEM activity is described.

The company has no disclosed proprietary technology stack, no AI/ML capabilities, no mobile app, and no public API. There is no evidence of external private equity, venture capital, or parent company ownership, and leadership is founder/owner-led with Peter Follese serving as CEO. Revenue, funding history, customer counts, and growth metrics are not publicly disclosed.

Name

National Insurance Brokers

Legal name

National Insurance Brokers

Website

https://mynationalbroker.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

11–50 employees

Short description

National Insurance Brokers is an independent Minnesota-based insurance brokerage operating 17 branch locations that shops 300+ products from 40+ carriers, delivering agent-led personal and commercial insurance to individuals, families, and small-to-mid-sized businesses across the state.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro industry

PRIMARYFSAEADAA

Retail (Personal Lines) Insurance Brokerage

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Insurance Brokerage & Risk Advisory

Keywords

• Independent insurance brokerage
• Personal insurance coverage
• Commercial business insurance
• Multi-carrier insurance shopping
• Local insurance agency

Headquarters

HQ city

Forest Lake

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Brokerage Commissions: National Insurance Brokers acts as an independent insurance broker, earning commissions from insurance carriers for policies placed on behalf of clients. The company shops 300+ insurance solutions from 40+ insurance companies and presents the best options to clients, earning a commission from the underlying carrier for each policy sold or renewed.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

National Insurance Brokers is an independent insurance brokerage headquartered in Forest Lake, Minnesota that operates 17 branch locations across the state. The firm shops 300+ insurance solutions from 40+ insurance carriers on behalf of clients, providing a consultative discovery-to-review process for both personal lines (home, auto, life, health, umbrella, recreation) and commercial lines (commercial auto, employee benefits, errors & omissions, general liability, inland marine, liquor liability, workers compensation).

Product overview

National Insurance Brokers is an independent insurance brokerage offering a unified platform that shops 300+ insurance solutions from 40 different insurance companies. The portfolio includes two main product lines: Personal Insurance (homeowners, auto, life, health, umbrella, and recreation coverage) and Commercial Insurance (commercial auto, employee benefits, errors & omissions, general liability, inland marine, liquor liability, and workers compensation). The company operates through multiple agency locations across Minnesota including Forest Lake, Baxter, Bloomington, Dayton/Champlin/Anoka, Golden Valley, Grand Rapids, Hugo, Red Wing, Maple Grove, Burnsville, Coon Rapids, Sartell, Staples/Verndale, Waconia, White Bear Lake, Saint Cloud, Wayzata, and Duluth.

Differentiator

Problem solved

Functional benefit

Brands

• Follesé Agency: Forest Lake location insurance agency
• Villacorta Insurance Agency
• Simonson Agency
• Veronen Agency
• Laketown Agency
• Hogan/Dochniak Agency
• John Fry - The Insurance Guy

Products and services

• Insurance Brokerage Services End-to-end insurance brokerage service that includes discovery consultation, multi-carrier shopping, coverage presentation, policy implementation, and ongoing policy reviews for individuals and businesses.
• Personal Insurance Personal lines insurance solutions covering home, auto, life, health, umbrella, and recreation risks for individuals and families.
• Homeowners Insurance Coverage protecting homes and personal property against fire, theft, natural disasters, and related perils, sourced from multiple carriers.
• Auto Insurance Comprehensive personal automobile coverage including vehicle damage and driver liability protection.
• Life Insurance Life insurance coverage providing financial security to beneficiaries upon the insured's death.
• Health Insurance Health coverage for medical expenses including individual and group health plans sourced from multiple carriers.
• Umbrella Insurance Extra liability coverage that supplements existing policy limits for additional personal asset protection.
• Recreation Insurance Coverage for recreational vehicles and equipment including boats, ATVs, dirt bikes, and similar assets.
• Commercial Insurance Business insurance solutions including commercial auto, employee benefits, errors & omissions, general liability, inland marine, liquor liability, and workers compensation for small to mid-sized business owners.
• Commercial Auto Insurance Coverage for business vehicles and trucking operations including liability protection for commercial fleets.
• Employee Benefits Insurance Coverage addressing errors in the management of employee benefits programs for businesses.
• Errors & Omissions Insurance Professional liability coverage protecting against allegations of negligence, errors, or omissions in the delivery of professional services.
• General Liability Insurance Coverage protecting businesses from third-party bodily injury and property damage claims arising from business operations.
• Inland Marine Insurance Coverage for products, materials, equipment, and warehousing transported over land.
• Liquor Liability Insurance Protection for businesses that serve or sell alcohol against liquor-related liability claims.
• Workers Compensation Insurance Coverage for medical expenses and lost wages arising from employee injuries occurring in the course and scope of their job.

Quantifiable outcome

• Same-day quotes for personal insurance products
• +1 more outcomes

Named customers2 records

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 indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Brown & Brown, Inc. Large U.S. insurance brokerage built via acquisition of independent agencies, offering personal and commercial property & casualty coverage through multiple carrier appointments. Directly analogous to NIB's roll-up playbook, but at much greater scale.
• USI Insurance Services: Large U.S. insurance brokerage and consulting firm placing property, casualty, employee benefits, and personal lines through carrier relationships. Overlapping product breadth makes it a clear incumbent comparable to NIB.
• Lockton Companies: Privately-held global insurance brokerage with strong U.S. middle-market and personal lines practice. Similar multi-carrier, multi-line orientation to NIB though operating at significantly greater scale.
• HUB International Limited: One of the largest North American insurance brokerages, offering personal and commercial lines across 40+ carrier relationships. Comparable to NIB as a multi-line, multi-carrier independent brokerage model, though at vastly greater national scale.
• Alliant Insurance Services: U.S. specialty insurance brokerage offering personal, commercial, and employee benefits coverage through carrier appointments. Comparable to NIB in product breadth and acquisition-led growth strategy.
• Marsh McLennan Agency: Retail brokerage arm of Marsh McLennan serving middle-market clients with personal, commercial, and employee benefits coverage across broad carrier relationships. Comparable multi-line independent brokerage model to NIB.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with significant retail brokerage operations placing personal, commercial, and specialty coverage through carrier networks. Operates in many of the same product categories as NIB.

Direct peers

• Alera Group: National independent insurance agency formed through merger of regional brokerages, providing personal and commercial coverage through carrier relationships. Closely comparable to NIB in multi-line, multi-location independent agency structure.
• Relation Insurance Services: Multi-office regional insurance brokerage offering personal, commercial, and benefits products through carrier networks. Similar acquisition-and-aggregate model to NIB's 17-branch Minnesota footprint.
• Hilb Group: Regional insurance brokerage consolidator that acquires and operates independent agencies across the U.S., preserving local brand identities under a common platform - structurally analogous to NIB's sub-brand roll-up model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MinnesotaNIB
• Facebookfacebook.com/InsuranceGuyPF
• LinkedInlinkedin.com/company/national-insurance-brokers

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 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 National Insurance Brokers