Bynum Insurance

What Bynum Insurance does

Bynum Insurance is a privately held insurance brokerage founded in 1955 and headquartered at 1170 Wilson Hall Road in Sumter, South Carolina, operating with 11–50 employees. The firm delivers insurance, risk management, and business consulting services to clients concentrated in four verticals: healthcare, higher education, public entities (including K–12 schools and government), and construction. Edward Bynum serves as Chief Executive Officer, consistent with the firm's family-linked origins.

Technically, Bynum Insurance does not operate a disclosed proprietary platform, mobile app, public API, or SDK; customer interactions occur through a Sumter-based direct sales motion with a single published phone line for Insurance Services. Product capabilities, as inferred from the parent network's directory, span claims advocacy, cyber liability, crisis resilience, loss control, and consulting lines including health and welfare, voluntary benefits, HR/compensation, and retirement plan consulting. The firm maintains a standard corporate social media presence on LinkedIn, Twitter/X, YouTube, and Facebook, primarily for top-of-funnel brand awareness.

Commercially, Bynum Insurance generates revenue through insurance brokerage commissions and consulting fees across its four core verticals, with a direct field-sales go-to-market targeting enterprise and mid-market clients. The firm operates exclusively within the United States (markets served: South Carolina), with no disclosed public pricing, subscription tiers, or transaction data. Its listing under Arthur J. Gallagher's location system (locations.ajg.com) and use of an AssuredPartners South Carolina-branded payment portal indicate integration with a larger national brokerage platform, though the source material does not formalize ownership or control structure.

Name

Bynum Insurance

Website

https://bynuminsurance.com

Company type

Private

Founded year

1955

Headcount range

11–50 employees

Short description

Bynum Insurance is a privately held Sumter, South Carolina insurance brokerage founded in 1955, serving enterprise and mid-market clients in healthcare, higher education, public entities, and construction with insurance, risk management, and business consulting services.

Ownership category

akta.pro rank

Product category

Commercial Insurance Brokerage and Risk Management Services

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Commercial insurance brokerage
• Risk management consulting
• Employee benefits consulting
• Retirement plan consulting
• Specialty industry insurance

Headquarters

HQ city

Sumter

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Distribution channels1 record

Marketing channels4 records

Core offering

Bynum Insurance is a South Carolina-based insurance brokerage that places commercial insurance, manages risk, and provides consulting services to healthcare organizations, higher education institutions, government/public entities (including K-12 schools), and construction companies. The firm combines insurance placement with HR and benefits consulting, retirement plan consulting, claims advocacy, loss control, and crisis resilience advisory to mid-market and enterprise clients across South Carolina.

Differentiator

Problem solved

Functional benefit

Products and services

• Cyber Liability Insurance Cyber liability insurance placement for clients across the firm's specialty verticals, covering risks associated with data breaches, ransomware, and cyber-related business interruption.
• Crisis Resilience Insurance Crisis resilience insurance advisory and placement to help clients prepare for and respond to disruptive events and high-severity incidents.
• Loss Control Services Loss control engineering and advisory to help clients reduce frequency and severity of insured losses through risk identification and mitigation programs.
• Claims Advocacy Claims advocacy services representing clients during the insurance claims process to optimize outcomes and expedite resolution with carriers.
• Health and Welfare Consulting Employee health and welfare benefits consulting, including plan design, carrier selection, and ongoing benefits management for employer clients.
• Voluntary Benefits Voluntary benefits advisory and placement helping employers offer supplemental insurance and benefit options to their workforce.
• Human Resources and Compensation Consulting HR and compensation consulting services supporting employers with talent, total rewards strategy, and compensation program design.
• Retirement Plan Consulting Retirement plan consulting for employers, including plan design, vendor selection, and fiduciary governance support.
• Healthcare Insurance and Consulting Vertical-specific insurance placement and consulting for healthcare organizations, addressing clinical, operational, and professional liability exposures.
• Higher Education Insurance and Consulting Insurance placement and consulting tailored to higher education institutions, covering liability, property, cyber, and benefits programs.
• Public Entities Insurance and Consulting Insurance placement and consulting for government entities and K-12 schools, including public officials liability and statutory compliance coverage.
• Construction Insurance and Consulting Insurance placement and consulting for construction companies, covering builders risk, general liability, and workers' compensation exposures.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves2 records

Expansion highlights3 records

Broad incumbents

• Hub International: North American insurance brokerage formed through roll-ups of regional agencies similar to Bynum. Provides property/casualty, benefits, and risk consulting to mid-market and enterprise clients across the same verticals.
• Marsh McLennan: Largest global insurance broker and risk advisor with deep practices in healthcare, education, and public entity segments. Competes for the same institutional clients Bynum serves, but at materially greater scale and carrier leverage.
• Arthur J. Gallagher & Co. Global insurance brokerage whose domain hosts Bynum's web presence. Offers the same risk management, brokerage, and HR consulting services to identical verticals (healthcare, higher education, public entities, construction) at vastly greater national scale.
• USI Insurance Services: Mid-market-focused national broker with practices in healthcare, education, and public sectors. Offers the same integrated brokerage-plus-consulting value proposition Bynum promotes.

Emerging players

• Acrisure: Fast-growing insurance brokerage built via aggressive M&A. Targets the same regional, mid-market accounts and could be a logical acquirer or direct competitor for Bynum in the Southeast.

Direct peers

• AssuredPartners: National insurance brokerage built largely through roll-ups of regional agencies. Bynum's payment portal references 'assuredpartnerssouthcarolina', suggesting a direct operational relationship; comparable in vertical focus on healthcare, public entities, and construction.
• The Plexus Groupe: Mid-market insurance brokerage serving construction, healthcare, and public-sector clients with an integrated benefits and risk management offering—a near-twin to Bynum's vertical mix and value proposition.
• Brown & Riding Insurance Services: Specialty wholesale and retail broker with deep expertise in construction, real estate, and healthcare. Comparable in serving similar mid-market and institutional clients, often as a partner to regional agencies like Bynum.
• RPS (Risk Placement Services): Specialty wholesale broker and MGA-developer. Comparable in serving construction and other niche verticals, often partnering with regional retail agencies like Bynum to place specialty risks.
• McGriff Insurance Services: U.S. insurance brokerage operating across the Southeast with deep expertise in healthcare, public entities, and commercial lines. Closely comparable in size, geography, and vertical mix to Bynum.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights4 records

Customer concentration

• Xtwitter.com/GallagherGlobal
• YouTubeyoutube.com/GallagherGlobal
• Facebookfacebook.com/GallagherGlobal
• LinkedInlinkedin.com/company/gallagher-global

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 Bynum Insurance