Carey, Richmond & Viking

What Carey, Richmond & Viking does

Carey, Richmond & Viking is a third-generation, family-owned independent property and casualty insurance agency headquartered in Middletown, Rhode Island, with additional offices in East Providence, RI, and Dartmouth, MA. The agency operates across two core product lines. Personal Insurance spans homeowners, auto, flood, high-value homes, boat and watercraft, valuable articles, personal umbrella, renters, motorcycle, RV, and pet coverage. Business Insurance covers commercial property, liability (including professional, pollution, workers' compensation, automobile, and umbrella), marine, and management liability (D&O, cyber, EPLI, crime, fiduciary, K&R, foreign, surety). A specialty Benchmark Marine Program adds dedicated marine expertise for marinas, boat yards, charter vessels, commercial seafood, and aquaculture operations. The agency's underlying technology stack is standard agency infrastructure rather than proprietary product development; technology is not a competitive differentiator in its positioning.

The business model is commission-based brokerage revenue. Carriers pay commission based on a percentage of policy premium, with additional compensation tied to profitability, volume, growth, retention, and annual plan performance, plus expense reimbursement for qualifying marketing costs and producer incentive programs. As an independent agency, CRV partners with over 40 A-rated insurance carriers to provide placement choice across carriers (national, regional, and specialty), enabling cross-segment placement for households and businesses. Go-to-market is sales-led through licensed insurance advisors and account managers with advanced designations (AAI, ACSR, CIC, CISR, CPCU, TRA), supported by online quote forms for personal lines, consultation-based forms for commercial lines, and a referral program channeling prospects through local nonprofit partnerships. Geographic emphasis is on Rhode Island and Massachusetts with multi-state licensing across all 50 U.S. states and Canada.

Customer segments are bifurcated between Personal/Individual (primary household coverage needs) and Business/Commercial (across construction, hospitality, marine, real estate, manufacturing, financial institutions, retail, education, and social services), with the marine industry as a specialized use case. Marketing channels include content (blog), organic social (Facebook, Instagram, LinkedIn), and a 'Referrals That Give Back' program donating to Rhode Island Social Skills Academy and Lloyd Center for the Environment. Leadership is anchored by David Andrade (President, third-generation family), a senior commercial insurance director, and directors across client services, sales, business development, and talent development, with established referral and community involvement networks that double as growth channels. The agency has no external private equity or venture backing and has grown through organic expansion and the historical Pierce Agency acquisition that formed the modern entity in 1961.

Name

Carey, Richmond & Viking

Legal name

Carey, Richmond & Viking Insurance

Website

https://crvinsurance.com

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

11–50 employees

Short description

Carey, Richmond & Viking is a third-generation independent insurance agency offering personal and commercial property and casualty coverage, plus a specialty marine program, through 40+ carrier partnerships across Rhode Island, Massachusetts, and 30 additional states.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance Agency

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ)

akta.pro secondary industries

Inland Marine / Personal Articles & Valuable Items Insurance (FSAJACAJ), Ocean Marine Insurance (Hull, Cargo & Freight) (FSAJAHAA), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

Keywords

• Independent insurance agency
• Personal insurance coverage
• Commercial insurance programs
• Marine insurance specialty
• Property casualty insurance

Headquarters

HQ city

Middletown

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Commission Payments: Carriers pay commission based on a percentage of the policy premium. The amount of commission varies depending on policy type, state location of risk, and other factors. This is the primary revenue stream for the agency.
2. Additional Commission Payments: Carriers may pay additional commission for attainment of certain goals including profitability, volume, growth and retention, and annual plan performance.
3. Expense Reimbursement: Carriers may reimburse for certain marketing and other expenses incurred for placing business with them.
4. Business Production Incentive Programs: Carriers may award employees with additional compensation (cash or contest prizes) for certain activities such as placing specific types of policies or inputting data through carrier technology systems.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Carey, Richmond & Viking is an independent property and casualty insurance agency that sells personal and commercial insurance coverage to individuals and businesses in Rhode Island, Massachusetts, and across the United States. The agency places business with over 40 A-rated insurance carrier partners and offers personal lines (auto, homeowners, flood, high-value home, boat & watercraft, valuable articles, personal umbrella, renters, motorcycle, RV, pet) and commercial lines (property, liability, marine, management liability), including the specialty Benchmark Marine Program for maritime operations.

Product overview

Carey, Richmond & Viking is a third-generation independent insurance agency founded in 1961, offering a portfolio of personal and commercial insurance products through partnerships with over 40 A-rated insurance carriers. The agency operates two core product lines: Personal Insurance (including Homeowners, Auto, Flood, High-Value, Boat & Watercraft, Valuable Articles, Personal Umbrella, Renters, Motorcycle, RV, and Pet coverage) and Business Insurance (including Property, Liability, Marine, and Management Liability coverages). The company also offers a specialty Benchmark Marine Program providing specialized coverage for maritime operations including marinas, charter vessels, and aquaculture. As an independent agency, CRV leverages relationships with multiple carriers to provide customized insurance solutions tailored to individual client needs.

Differentiator

Problem solved

Functional benefit

Brands

• Benchmark Marine Program: A specialized marine insurance program offering expertise, advocacy, and service for the local marine industry. Offers 24/7 claims services, operation-specific resources, hands-on risk management services, and networking services for marinas, boat yards, artisan marine contractors, marine construction, charter vessels, commercial seafood, aquaculture, boat haulers, and waterfront restaurants.

Products and services

• Personal Insurance

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

16 partnerships are on record, tiered minor and major.

• Aegis Security Insurance CompanyminorOthersInsurance carrier partner providing various insurance products through the agency.
• American International Group (AIG)majorOthersMajor insurance carrier partner offering commercial and personal insurance products.
• AllstatemajorOthersNational insurance carrier partner providing personal insurance products.
• Chubb LimitedmajorOthersMajor property and casualty insurance carrier partner.
• Nationwide Mutual Insurance CompanymajorOthersNational insurance carrier partner offering personal and commercial insurance products.
• Liberty Mutual InsurancemajorOthersMajor national insurance carrier partner providing personal and commercial coverage.
• Travelers CompaniesmajorOthersMajor commercial and personal insurance carrier partner.
• Progressive CorporationmajorOthersNational auto insurance carrier partner.
• Arbella Insurance GroupmajorOthersRegional insurance carrier focused on Massachusetts and Connecticut markets.
• The HartfordmajorOthersMajor insurance carrier partner offering business and personal insurance products.
• MAPFRE InsurancemajorOthersRegional carrier partner operating in Massachusetts and Rhode Island markets.
• HagertyminorOthersSpecialty insurance carrier partner for classic and collector vehicles.
• PURE InsuranceminorOthersMember-owned insurer focused on high-value homes and possessions.
• Neptune FloodminorOthersDigital flood insurance carrier partner.
• Rhode Island Social Skills AcademyminorGTM or Marketing PartnerCurrent charity partner in the 'Referrals That Give Back' program, receiving $10 donations per valid referral.
• Lloyd Center for the EnvironmentminorGTM or Marketing PartnerCurrent charity partner in the 'Referrals That Give Back' program, receiving $10 donations per valid referral.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Cross Insurance: New England regional independent insurance agency headquartered in Maine with multi-state presence, offering personal, commercial, and employee benefits through multiple carrier partnerships. Closely mirrors CRV's regional independent agency model.
• The Hilb Group: National insurance brokerage focused on middle-market commercial and personal lines with regional office structure. Comparable to CRV in serving commercial clients with dedicated account management and carrier choice.
• IMA Financial Group: Independent insurance brokerage specializing in commercial and personal coverage with strong regional presence. Comparable mid-size independent agency model with carrier partnerships serving similar SMB/mid-market client profiles.
• Foundation Risk Partners: Independent insurance agency aggregator focused on the Northeast and Mid-Atlantic, providing commercial, personal, and specialty coverage. Comparable as a similarly-positioned regional independent agency with carrier partnerships and acquisition-driven growth.
• Starkweather & Shepley Insurance Brokerage: Rhode Island-based independent insurance agency offering personal, commercial, and employee benefits coverage. Highly comparable to CRV as a New England regional independent agency with multi-carrier partnerships and similar SMB/mid-market customer mix.

Broad incumbents

• Hub International: Large North American insurance brokerage serving mid-market and commercial clients with personal and commercial lines. Overlaps with CRV's commercial and personal agency services but operates at significantly greater scale.
• Amica Mutual Insurance: Rhode Island-headquartered mutual insurance carrier offering personal auto, home, and life insurance directly to consumers. Overlaps with CRV in New England personal lines distribution but is a carrier, not an agency.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm serving commercial and personal clients. Provides overlapping services to CRV's commercial clients including property, casualty, and marine coverage.
• Marsh McLennan Agency: Middle-market arm of Marsh McLennan offering commercial and personal insurance brokerage. Comparable agency distribution model to CRV at significantly greater scale and with more sophisticated risk engineering capabilities.
• USI Insurance Services: Large US insurance brokerage serving middle-market commercial clients with property, casualty, and specialty coverage including marine. Comparable commercial agency model to CRV at significantly larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/pages/Carey-Richmond-Viking/111788628885849
• LinkedInlinkedin.com/company/carey-richmond-&-viking-insurance
• Instagraminstagram.com/careyrichmondviking

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Carey, Richmond & Viking