Insurance Consulting Group

Name

Insurance Consulting Group

Legal name

Insurance Consulting Group, Inc.

Website

https://employeebenefits.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

1–10 employees

Short description

Insurance Consulting Group is an independent Memphis-based employee benefits brokerage and consulting firm that designs, administers, and supports group health, voluntary, and HR compliance programs for employers of all sizes nationwide, delivered through dedicated account managers and an integrated technology platform.

Ownership category

akta.pro rank

Product category

Employee Benefits Brokerage

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Employee Benefits Brokerage & Consulting (FSAEADAC)

akta.pro secondary industry

Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE)

Keywords

• Employee benefits brokerage
• Group health insurance
• HR compliance services
• ACA compliance solutions
• Voluntary benefits programs

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: As an independent insurance broker, ICG earns commissions from insurance carriers for placing group health insurance and employee benefits business. The company works with multiple carriers to offer diverse product options.
2. Professional Services: Comprehensive employee benefits consulting, compliance advisory, ACA reporting services, and ongoing account management. Services include strategy preparation, implementation, and administration throughout the year.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Insurance Consulting Group is an independent insurance broker that custom-designs and brokers group employee benefits packages for employers of all sizes, including medical, dental, vision, life, disability, health accounts, tele-health, EAP, wellness, COBRA, voluntary, and Section 125 cafeteria plans. The firm delivers ongoing strategy, implementation, and administration through dedicated account managers and an All-in-One integrated technology platform covering benefits enrollment, HR self-service, ACA compliance, COBRA automation, onboarding, and payroll integration.

Product overview

Insurance Consulting Group offers an All-in-One integrated technology platform for employee benefits enrollment, administration, and HR support. The core platform includes a Benefits Enrollment Platform and HR & Employee Self-Service Portal, supported by modules for Onboarding Auto-Pilot, Employee Personnel Management, Paid Time Off Management, Asset Tracking, ACA Compliance, COBRA Automation, and Integrated Payroll. The company also provides a comprehensive portfolio of insurance product lines including Medical, Dental, Vision, Life/AD&D, Short-Term and Long-Term Disability, Health Accounts, Tele-Health, EAP, Wellness, and voluntary benefits (Prescription, Gap/Hospital Indemnity, Accident, Critical Illness, Cancer, Hearing, Pet, and Identity Protection). Services encompass Benefits Strategic Planning (360 Strategy/365 Service), full Compliance Services (ACA, HIPAA, COBRA, ERISA, 1094/1095 reporting), and Carrier MLR Rebate Services. Group plans are set up under Section 125 for pre-tax basis, and the company operates as an independent broker through its parent organization United Benefit Advisors (UBA).

Differentiator

Problem solved

Functional benefit

Products and services

• Benefits Enrollment Platform All-in-One integrated platform enabling employees to compare and select benefit plans, review coverage status, monitor enrollment status and deadlines, manage contribution levels, store and acknowledge plan documents, and complete electronic signatures and electronic delivery of notices.
• Medical Coverage Group medical insurance plans offered as part of employer-sponsored employee benefits packages, brokered from multiple carriers to fit employer size, industry, location, and budget.
• Dental Coverage Group dental insurance plans offered as part of employer-sponsored employee benefits packages, brokered from multiple carriers.
• Vision Coverage Group vision insurance plans offered as part of employer-sponsored employee benefits packages, brokered from multiple carriers.
• Life and AD&D Coverage Group life insurance and accidental death and dismemberment (AD&D) coverage offered as part of employer-sponsored employee benefits packages.
• Disability Insurance Group short-term and long-term disability insurance coverage offered as part of employer-sponsored employee benefits packages.
• Health Accounts (HSA/HRA/FSA) Health savings accounts (HSA), health reimbursement arrangements (HRA), and flexible spending accounts (FSA) provided for pre-tax employee benefit spending.
• Tele-Health Services Telehealth and virtual healthcare services offered as part of employer-sponsored employee benefits packages.
• Employee Assistance Program (EAP) Employee Assistance Program providing support services to employees, offered as part of employer-sponsored benefits packages.
• Wellness Programs Corporate wellness programs and services offered as part of employer-sponsored employee benefits packages.
• COBRA Administration COBRA continuation coverage administration services for employers, ensuring compliant continuation of group health coverage for eligible former employees.
• Cafeteria / Section 125 Plans Section 125 cafeteria plans enabling pre-tax benefit deductions for both employer and employee contributions across eligible benefits.
• Voluntary Benefits Program Company-endorsed voluntary benefits program enhancing core benefits with cutting-edge products at affordable group rates, flexible provisions for individual employee needs, and payroll deduction payment options; encompasses prescription coverage, gap/hospital indemnity, accident, critical illness, cancer, hearing, pet, and identity protection coverage.
• Compliance Services Comprehensive compliance services for employers including Medicare Part D Creditable Coverage, IRS Form 5500, HIPAA Privacy, PCORI Fees, ERISA Notices, Affordable Care Act guidance, COBRA/State Continuation, nondiscrimination testing, POP Plan set-up, SBC documentation, and 1094/1095 reporting and e-filing services.
• Benefits Strategic Planning 360 Strategy/365 Service approach assessing employer and employee priorities to develop long-term benefits strategies, with continuous examination and addressing of benefits performance throughout the partnership relationship.
• Carrier MLR Rebate Services Management and processing of Medical Loss Ratio (MLR) rebates from insurance carriers on behalf of employer clients.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature8 records

Partnerships

Two partnerships are on record, tiered flagship and core.

• United Benefit Advisors (UBA)flagshipStrategic or Co-development PartnerUBA is a unique community of more than 140 of the most successful and most trusted independent employee benefits advisory firms in North America and Europe. Insurance Consulting Group partners with UBA to leverage shared expertise, carrier relationships, and industry resources to meet individual client needs and deliver powerful results.
• Employee NavigatorcoreTechnology or IntegrationEmployee Navigator provides the online platform technology for ICG's client login, enrollment, and benefits administration. ICG integrates with Employee Navigator's All-In-One technology to provide benefits, HR, and compliance capabilities to clients.

Scale indicators6 records

Recent moves1 record

Expansion highlights3 records

Broad incumbents

• Arthur J. Gallagher: Gallagher is a global insurance brokerage and risk management firm with a dedicated Benefits & HR Consulting practice. Overlaps with ICG on group health brokerage, compliance consulting, and HR technology advisory for mid-market and large employers.
• Brown & Brown: Brown & Brown is a major publicly traded insurance brokerage with a sizable employee benefits segment. Comparable as an independent broker offering group health, voluntary benefits, and HR-related services to employer clients, though with a much broader commercial lines footprint.
• Lockton: Lockton is the world's largest independent insurance brokerage, with significant employee benefits capabilities. Comparable in independent broker status and benefits focus, but operates globally with thousands of employees versus ICG's regional model.
• USI Insurance Services: USI is a top-10 U.S. insurance brokerage with substantial employee benefits operations across all employer sizes. Comparable in product breadth (medical, voluntary, compliance) but operates at vastly greater scale across property/casualty and benefits lines.
• Hub International: Hub International is a large North American insurance brokerage with a dedicated employee benefits practice. Comparable in client mix (mid-market employers, group health, voluntary benefits) and geographic model (regional offices serving local clients) but at much greater scale.

Direct peers

• Higginbotham: Higginbotham is a mid-size independent insurance brokerage that has grown largely through acquisition, with a strong employee benefits practice. Comparable as a benefits-focused broker combining carrier commission revenue with consulting and risk advisory services for employer clients.
• The Horton Group: The Horton Group is a UBA-affiliated independent brokerage offering employee benefits, commercial insurance, and risk management to mid-market employers — closely comparable to ICG's independent benefits-only brokerage positioning with UBA membership.
• NFP (Aon): NFP is a benefits, insurance, and wealth management advisory firm with deep employee benefits brokerage capabilities, serving mid-market and large employers — directly comparable to ICG's mid-market group health brokerage model. Now part of Aon, NFP represents the scaled version of what ICG aspires to be.
• OneDigital: OneDigital is one of the largest independent employee benefits and HR advisory firms in the U.S., operating a broker-led model with proprietary technology, advisory, and compliance services — directly comparable to ICG's positioning as a benefits-only brokerage with integrated tech.

Regional players

• Frankenmuth Insurance: Frankenmuth Insurance is a regional Midwest-based insurance carrier and brokerage with group benefits offerings for small and mid-sized employers. Comparable to ICG as a regionally rooted, mid-market-focused employee benefits provider, though structured more as a carrier than a pure broker.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/100041395063183
• LinkedInlinkedin.com/company/insurance-consulting-group-inc.

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Insurance Consulting Group