Selman & Company
Selman & Company (SelmanCo) is a privately-held U.S. insurance administrator specializing in TRICARE and CHAMPVA supplemental health insurance and outsourced group insurance administration, serving military personnel, veterans, employers, affinity groups, brokers, and financial institutions across three U.S. offices.
- Company typePrivate
- Founded1983
- HeadquartersCleveland, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Selman & Company does
Selman & Company (SelmanCo) is a privately-held U.S. insurance administration firm specializing in supplemental health insurance products and outsourced administration services. The company's core products are TRICARE Supplement and CHAMPVA Supplement insurance plans, which wrap around U.S. Department of Defense health programs to cover cost shares, co-pays, prescription costs, and deductibles for active-duty military, retirees, National Guard members, veterans' families, and surviving dependents. These products are underwritten by Hartford Life and Accident Insurance Company (a subsidiary of The Hartford, NYSE: HIG) and distributed both directly to individuals and as employer voluntary benefits. The company also administers group insurance products for insurance carriers, affinity groups, credit unions, and banks, offering services spanning enrollment, billing, claims processing, compliance, marketing, client management, and customer support, with port-and-conversion administration as a specialty module.
Underlying the insurance business is an insurance administration technology platform supporting eligibility verification, premium billing, claims processing, and customer communications. SelmanCo maintains an eService customer portal (revamped in August 2023 with live chat and mobile optimization), a high-volume compliant email marketing platform, and a port-and-conversion administration system with multi-state regulatory compliance and deadline tracking. There is no disclosed AI/ML capability in the platform.
The business model combines managed-services fees (insurance administration outsourcing, voluntary benefits administration) with recurring subscription/commission revenue from brokering and administering TRICARE/CHAMPVA supplement plans. The company serves B2B clients (employers, insurance carriers, affinity/association groups, credit unions and banks, brokers) as well as B2C individual policyholders, with a hybrid segmentation approach. Founded in 1905 as a P&C agency and re-established in modern form in 1983, SelmanCo is headquartered in Cleveland, Ohio, with additional offices in Keene, NH and Baltimore, MD, a workforce of over 200, and operates as a subsidiary of One80 Intermediaries Inc. The company manages over $300 million in premium under administration and serves more than 1.5 million individual customers.
Selman & Company firmographics
Firmographics- Name
- Selman & Company
- Legal name
- Selman & Company
- Website
- https://selmanco.com
- Company type
- Private
- Founded year
- 1983
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Selman & Company (SelmanCo) is a privately-held U.S. insurance administrator specializing in TRICARE and CHAMPVA supplemental health insurance and outsourced group insurance administration, serving military personnel, veterans, employers, affinity groups, brokers, and financial institutions across three U.S. offices.
- Ownership category
- akta.pro rank
Selman & Company industry classification
Industry- Product category
- Insurance Administration
- NAICS
- All Other Insurance Related Activities (524298), Other Insurance Related Activities (52429), Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Eligibility, Enrollment & Benefits Administration (HLAEALAH)
- akta.pro secondary industries
- COBRA & Retiree Continuation Administration (HLAEAAAJ), Provider Network, Credentialing & Contracting Support (BPAAAFAI)
Keywords
Where Selman & Company is headquartered
LocationHeadquarters
- HQ city
- Cleveland
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Selman & Company business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Insurance Administration Services: Administrative services for insurance companies, associations, credit unions, banks, and employers including billing, claims processing, compliance, marketing, client management, and customer support. Revenue generated through administrative fees from clients.
- TRICARE/CHAMPVA Supplement Insurance Brokerage: Brokering and administering TRICARE and CHAMPVA supplement insurance products for individuals and employer groups. Revenue generated through commissions and administration fees on supplement insurance plans.
- Voluntary Benefits Administration: Outsourcing services for employers handling enrollment, administration, billing, and customer service for voluntary benefit products. Cost is borne by employees (voluntary benefit), with employers paying for administrative services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | TRICARE Supplement - Voluntary Employee Benefit |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
Selman & Company product offering
Product offeringCore offering
Selman & Company is a privately-held insurance administrator that designs, markets, and administers supplemental health insurance products—principally TRICARE and CHAMPVA supplements—directly to military-eligible individuals and as employer voluntary benefits. It also delivers full-service insurance administration outsourcing (enrollment, billing, claims, compliance, marketing, client management) to insurance carriers, employers, affinity groups, brokers, and financial institutions, supported by an in-house administration platform and a self-service customer portal.
Product overview
Selman & Company is a specialized insurance administrator offering a unified portfolio of supplemental health insurance products and administrative services. The core product suite centers on TRICARE Supplement and CHAMPVA Supplement insurance plans that wrap around government military health programs. These products are offered both directly to individuals and as employer voluntary benefits through the TRICARE Supplement for Employers program. Supporting the insurance products is a comprehensive service platform including: Insurance Administration, Port & Conversion Services, Employer Supplemental Benefits Administration, General Agency Services, Affinity Solutions, Broker Solutions, Financial Institution Solutions, and Outsourcing Solutions. The company also provides an eService Portal for customer self-service. The portfolio serves multiple distribution channels including direct sales, employer groups, affinity organizations, financial institutions, and insurance brokers/carriers.
Differentiator
Problem solved
Functional benefit
Products and services
- TRICARE Supplement
- TRICARE Supplement for Employers
- CHAMPVA Supplement
- Insurance Administration for Group Products
- eService Portal
- Port & Conversion Services
- Employer Supplemental Benefits Administration
- General Agency Services
- Affinity Solutions
- Broker Solutions
- Financial Institution Solutions
- Outsourcing Solutions
Quantifiable outcome
- Managing over $300 million in premium under administration
- +3 more outcomes
Companies that use Selman & Company
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles6 records
Selman & Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Selman & Company partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Hartford Life and Accident Insurance CompanycoreHartford Life and Accident Insurance Company underwrites the TRICARE/CHAMPVA Supplement Insurance Plans administered by SelmanCo. The company is part of The Hartford (NYSE: HIG), headquartered in Hartford, Connecticut. Policy numbers include AGP-5925, AGP-5926, AGP-5928.
- Defense Health AgencycoreTRICARE is managed by the Defense Health Agency under leadership of the Assistant Secretary of Defense (Health Affairs). SelmanCo administers TRICARE Supplement insurance products for eligible beneficiaries.
- NEOVETS Inc.minorNEOVETS certified SelmanCo as a Certified Military Talent Employer (CMTE) in 2017, recognizing the company's commitment to hiring veterans. NEOVETS assists returning service members with employment, education, and healthcare needs.
- TRICAREcoreTRICARE is a health care program benefitting uniformed military services members and their families, covering over 9 million individuals. SelmanCo administers supplemental insurance products that work with TRICARE plans.
Scale indicators6 records
Recent moves8 records
Expansion highlights6 records
Selman & Company competitors and assessment
Company assessmentBroad incumbents
- Hartford Life and Accident Insurance Company: The Hartford is the underwriting partner for SelmanCo's TRICARE/CHAMPVA supplements and a major group benefits carrier. While not a direct competitor for administration services, it is the critical enabling incumbent whose policies SelmanCo administers and whose strategic decisions shape the market.
- USAA Life Insurance Company: USAA offers life, health, and supplemental insurance products specifically for military members and their families, including TRICARE complementing products. Comparable as a major incumbent in the military insurance market with overlapping customer base.
- Brown & Brown, Inc. Brown & Brown is a large insurance brokerage and program management firm offering administration, wholesale brokerage, and specialty programs. Comparable as a larger diversified insurance intermediary with similar administrative and program management capabilities.
- Mercer (Marsh McLennan): Mercer is a global consulting and administration firm offering health and benefits administration, including voluntary and supplemental benefit programs for large employer clients. Adjacent incumbent in employer benefits administration space with overlapping capabilities.
- One80 Intermediaries Inc. Parent company of SelmanCo and a diversified insurance intermediary conglomerate providing specialty underwriting, brokerage, and program management across multiple insurance lines. Provides the broader portfolio context within which SelmanCo operates.
Direct peers
- Government Employees Health Association (GEHA): GEHA provides health and supplemental benefits to federal employees, retirees, and military families, including plans that complement government health programs like TRICARE. Direct overlap in the federal/military supplemental health insurance market.
- The Loomis Company: The Loomis Company is a third-party administrator offering benefits administration, claims processing, and managed care services for self-funded employer plans and supplemental products. Competes directly with SelmanCo's voluntary benefits and employer administration services.
- USBA (Uniformed Services Benefit Association): USBA offers TRICARE supplement insurance and other military-focused insurance products, directly competing with SelmanCo in the TRICARE supplement market for military personnel, retirees, and families. Both target the same Defense Health Agency-eligible population with similar supplemental health coverage.
- Benefit Administrative Systems (BAS): BAS provides third-party administration of self-funded and supplemental benefit programs including enrollment, billing, and claims for employers and associations. Comparable TPA business model targeting similar employer and association segments.
- Sterling Insurance (Sterling Administrators): Sterling Administrators provides third-party insurance administration including benefits administration, billing, and claims processing for group and voluntary products. Direct peer in the niche insurance administration space serving employer groups and associations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Selman & Company social profiles
Digital presenceSelman & Company compliance and trust
Trust signalCompliance3 records
Selman & Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Selman & Company leadership team
Management profileNumber of profiles
Profiles8 records
Selman & Company funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Selman & Company M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Selman & Company
What does Selman & Company do?
Selman & Company is a privately-held insurance administrator that designs, markets, and administers supplemental health insurance products—principally TRICARE and CHAMPVA supplements—directly to military-eligible individuals and as employer voluntary benefits. It also delivers full-service insurance administration outsourcing (enrollment, billing, claims, compliance, marketing, client management) to insurance carriers, employers, affinity groups, brokers, and financial institutions, supported by an in-house administration platform and a self-service customer portal.
Is Selman & Company a public or private company?
Selman & Company is a private company. It is classified as corporate owned and is currently operating.
When was Selman & Company founded?
Selman & Company was founded in 1983. It employs 101 to 250 people.
Where is Selman & Company based?
Selman & Company is headquartered in Cleveland, United States, in the North America region.
How does Selman & Company make money?
Three revenue lines are on record. Insurance Administration Services are the primary driver. The others are TRICARE/CHAMPVA Supplement Insurance Brokerage and voluntary Benefits Administration.
Who are Selman & Company's main competitors?
Broad incumbents on record are Hartford Life and Accident Insurance Company, USAA Life Insurance Company, Brown & Brown, Inc., Mercer (Marsh McLennan) and One80 Intermediaries Inc.. Direct peers are Government Employees Health Association (GEHA), The Loomis Company, USBA (Uniformed Services Benefit Association), Benefit Administrative Systems (BAS) and Sterling Insurance (Sterling Administrators).
Does Selman & Company have an API?
No public API is recorded for Selman & Company.
What industry is Selman & Company in?
Selman & Company's product category is Insurance Administration. Its primary akta.pro industry code is HLAEALAH, Eligibility, Enrollment & Benefits Administration, with a secondary code of HLAEAAAJ, COBRA & Retiree Continuation Administration. Its NAICS code is 524298 and its SIC code is 6411.