Lake Michigan Insurance

What Lake Michigan Insurance does

Lake Michigan Insurance Agency (LMIA) is a private, independent insurance agency operating as a wholly-owned division of Lake Michigan Credit Union (LMCU), a Grand Rapids, Michigan-based credit union. Founded in 1921, the agency sells personal and commercial insurance lines — auto, home, life, business, and medical/Medicare — by shopping policies across more than ten carrier partners including Auto-Owners, Citizens/Hanover, Frankenmuth, EMC, Michigan Insurance, Progressive, Hartford, Acuity, and others. LMIA is licensed to operate in Michigan and Florida and serves three primary customer segments: individual consumers, small-to-mid-size businesses, and Medicare beneficiaries. The company holds the Auto-Owners Top 10 Agency designation (2018-2020), Citizens President's Club status (top 5% of 2,600 agencies), Frankenmuth Premier Agency status (1 of 3 within 21 states), EMC Leading Partner status, and Michigan Insurance Leader Level recognition, indicating strong, sustained carrier-side performance.

The business model is commission-based: LMIA earns affiliate/referral commissions from carriers on policies placed, with no disclosed premium or fee revenue of its own. Pricing is quote-based and not publicly listed, though the agency markets average bundling savings of approximately $650 for customers who combine home and auto policies. Go-to-market is sales-led through two physical offices (Grand Rapids headquarters and Muskegon) plus phone, email ([email protected]), and an online quote form, with no mobile app, no public API, and no disclosed proprietary technology — operations run on third-party carrier platforms and a standard agency website. The sales team averages more than 20 years of insurance experience; named leaders are President Ken Jansen (30+ years, ex-President of the West Michigan Association of Independent Insurance Agents) and Agency Vice President Chris Collins (CIC designation, in insurance since 1989). Headcount is reported at 1-10 employees.

Growth to date has been predominantly organic with a notable 2017 acquisition campaign that absorbed three agencies — Katt Insurance Agency (January 2017), Goddard Talmay Agency (January 2017), and Muskegon Insurance Agency (October 2017) — and a targeted set of GTM partnerships including Builders Exchange and HBA/MAHB for contractor and homebuilder channels. No funding rounds, regulatory actions, or AI/ML capabilities are disclosed, and the company has not visibly expanded headcount, office count, or state footprint since 2017.

Name

Lake Michigan Insurance

Legal name

Lake Michigan Insurance Agency

Website

https://lmiainsurance.org

Company type

Private

Founded year

1921

Operating status

Operating

Headcount range

1–10 employees

Short description

Lake Michigan Insurance Agency is a 1921-founded independent insurance brokerage and division of Lake Michigan Credit Union, selling auto, home, life, business, and Medicare policies through 10+ carriers in Michigan and Florida via two offices.

Ownership category

akta.pro rank

Product category

Insurance Agency

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Medicare Plan Distribution & Brokerage (Captive, Independent, FMOs) (FSAIAGAH)

Keywords

• Independent insurance agency
• Personal insurance lines
• Commercial insurance coverage
• Insurance brokerage
• Employee benefits

Headquarters

HQ city

Grand Rapids

HQ country

United States

HQ region

North America

Offices2 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. Insurance Commissions: Lake Michigan Insurance Agency earns commissions from multiple insurance carriers (Auto-Owners, Citizens, Frankenmuth, and 12+ others) for policies placed on behalf of customers. As an independent agency, they shop multiple carriers to find the best coverage at the lowest price, earning commission income from successful policy placements.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Lake Michigan Insurance Agency is an independent insurance agency founded in 1921 that designs and places personal and commercial insurance policies by shopping 10+ carrier partners. It offers auto, home, life, business, and medical insurance alongside specialized sub-products such as motorcycles/seasonal toys, Medicare plans, and employee benefits. The agency earns commissions on policies placed with carrier partners including Auto-Owners, Citizens, Frankenmuth, EMC, Michigan Insurance, Acuity, Progressive, and others.

Product overview

Lake Michigan Insurance Agency (LMIA) is a full-service insurance agency offering a portfolio of complementary insurance products across personal and commercial lines. The core portfolio consists of five main products: Auto Insurance, Home Insurance, Life Insurance, Business Insurance, and Medical Insurance. Auto Insurance covers personal vehicles as well as specialized vehicles (Motorcycles & Seasonal Toys sub-product). Medical Insurance includes a dedicated Medicare Plans sub-product for seniors. Business Insurance encompasses Employee Benefits as a sub-product covering group health, dental, vision, and disability. LMIA acts as an independent agency, shopping multiple carrier partners (10+ carriers) to match customers with tailored coverage at competitive pricing. Products are available in Michigan and Florida, and customers can bundle auto with home insurance for potential savings of up to $650.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance Comprehensive auto insurance covering bodily injury liability, property damage, personal injury protection, collision, comprehensive, uninsured/underinsured motorist, loan/lease gap, and towing/rental car coverage. Available for personal vehicles as well as motorcycles and seasonal toys. Targeted at personal vehicle owners in Michigan and Florida.
• Home Insurance Homeowners, renters, and condo insurance covering dwelling, other structures, personal property, loss of use, personal liability, medical payments, water/sewer backup, rental dwelling, and renter's coverage. Targeted at homeowners, renters, and condo owners in Michigan and Florida.
• Life Insurance Life insurance offerings including Term Life (10, 15, 20, 25, 30, or 40-year terms), Permanent Life Insurance (coverage to age 100 or 121 with potential cash value), and Simplified Issue Life Insurance (no physical exam required). Targeted at individuals and families seeking financial protection for loved ones.
• Business Insurance Commercial insurance covering general liability, property, commercial auto, workers compensation, commercial umbrella, lessors risk, bonds, cyber liability, employment practices, special events, and employee benefits. Targeted at small to mid-size business owners in Michigan and Florida seeking comprehensive commercial coverage and competitive employee benefits packages.
• Medical Insurance Health and disability insurance including Medicare plans (Medicare Supplement/Medigap and Medicare Advantage), disability income, long-term care, short-term medical plans for individuals between jobs or transitioning off parental coverage, and Medicare supplements. Targeted at individuals seeking health coverage across life stages, including those aged 65+ needing Medicare guidance.
• Motorcycles & Seasonal Toys Insurance Insurance for motorcycles, RVs, boats (jet skis, pontoons, speed boats, house boats), covering medical payments, personal injury protection, loan/lease replacement cost, towing, and vacation liability. Targeted at owners of recreational vehicles in Michigan and Florida.
• Medicare Plans Medicare enrollment guidance and supplemental coverage plans including Medicare Supplement (Medigap) and Medicare Advantage, designed to cover deductibles, co-insurance, and prescription gaps not covered by standard Medicare. Targeted at individuals 65+ approaching or at Medicare eligibility in Michigan and Florida.
• Employee Benefits Group benefit plans for employers including dental, vision, short- and long-term disability, and competitive interest-bearing HSA offerings, sourced through providers such as Priority Health, Blue Cross Blue Shield, and Delta Dental. Targeted at small to mid-size employers needing competitive benefits to attract and retain talent.

Quantifiable outcome

• Customers who bundle home and auto insurance could save $650 on average

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

23 partnerships are on record, tiered core and minor.

• Lake Michigan Credit UnioncoreStrategic or Co-development PartnerLMIA is a division of Lake Michigan Credit Union. The agency was built on a foundation of excellence as part of the credit union to deliver insurance services to members. LMIA is owned by Lake Michigan Credit Union.
• Auto-Owners InsurancecoreChannel Partner/ Reseller/ DistributorOne of LMIA's 10+ carrier partners providing auto, home, and other insurance products. LMIA shops this carrier among others to find best coverage at lowest price. LMIA has been recognized as Top 10 Agency by Auto-Owners Insurance (2018-2020).
• Citizens/HanovercoreChannel Partner/ Reseller/ DistributorCarrier partner providing insurance products through LMIA. LMIA has achieved President's Club status (top 5% of 2600 agencies) with Citizens Insurance.
• Frankenmuth InsurancecoreChannel Partner/ Reseller/ DistributorCarrier partner providing insurance products. LMIA holds Premier Agency status as 1 of only 3 agencies within 21 states with Frankenmuth.
• EMC InsurancecoreChannel Partner/ Reseller/ DistributorCarrier partner with Leading Partner Status relationship with LMIA.
• Michigan InsurancecoreChannel Partner/ Reseller/ DistributorCarrier partner where LMIA holds Leader Level status (top 5% of agencies).
• AcuityminorChannel Partner/ Reseller/ DistributorBusiness insurance carrier partner listed on carriers page.
• EMCminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing business and commercial coverage.
• ForemostminorChannel Partner/ Reseller/ DistributorInsurance carrier partner offering various coverage products.
• GrangeminorChannel Partner/ Reseller/ DistributorInsurance carrier partner for property and casualty coverage.
• HartfordminorChannel Partner/ Reseller/ DistributorBusiness insurance carrier partner offering commercial coverage.
• Hastings InsuranceminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing various coverage options.
• Michigan MillersminorChannel Partner/ Reseller/ DistributorInsurance carrier partner serving Michigan market.
• Pioneer MutualminorChannel Partner/ Reseller/ DistributorInsurance carrier partner for various coverage needs.
• ProgressiveminorChannel Partner/ Reseller/ DistributorInsurance carrier partner offering auto and home coverage.
• Safeco InsuranceminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing personal insurance coverage.
• SecuraminorChannel Partner/ Reseller/ DistributorInsurance carrier partner offering various coverage products.
• Wolverine MutualminorChannel Partner/ Reseller/ DistributorMichigan-based insurance carrier partner.
• Builders ExchangeminorGTM or Marketing PartnerPartnership offering special discounts on personal and commercial insurance including home & auto, contractors group protection, inland marine, business auto, and worker's compensation through Builders Exchange.
• HBA/MAHB PartnershipminorGTM or Marketing PartnerPartnership providing comprehensive value-priced insurance coverage with local servicing, including business and personal insurance plus financial programs such as retirement accounts.
• Priority HealthminorChannel Partner/ Reseller/ DistributorHealth insurance provider partner for employee benefits, competing for business alongside other top providers.
• Blue Cross Blue ShieldminorChannel Partner/ Reseller/ DistributorHealth insurance provider partner for employee benefits group plans.
• Delta DentalminorChannel Partner/ Reseller/ DistributorDental insurance provider partner for employee benefits offerings.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Brown & Brown: Large US insurance brokerage built via roll-up of regional independent agencies, mirroring LMIA's growth strategy of acquiring smaller agencies (e.g., 2017 Muskegon, Katt, Goddard Talmay deals). Useful peer for understanding the acquisition-led growth playbook.
• Acrisure: One of the largest independent insurance brokerages in the US, demonstrating the scale ceiling of the independent agency model LMIA operates in. Relevant because it shares the multi-carrier, commission-based distribution model but operates at vastly greater breadth.
• Hub International: National independent insurance brokerage serving personal and commercial lines. Comparable to LMIA because both are independent (non-captive) agencies shopping multiple carriers, though HUB operates across all 50 states versus LMIA's two-state footprint.
• USI Insurance Services: Large diversified insurance brokerage serving middle-market commercial and personal clients. Comparable to LMIA's business-insurance and employee-benefits offerings and helpful as a benchmark for commercial lines depth.
• PCF Insurance Services: PE-backed consolidator of independent insurance agencies across personal and commercial lines. Highly relevant peer given LMIA's own small-scale roll-up activity and the broader M&A wave in independent agency distribution.
• World Insurance Associates: Independent insurance agency roll-up with multi-state personal and commercial lines reach, similar in operating model to LMIA but at public-company scale. Comparable as a benchmark for multi-state expansion through acquisitions.

Emerging players

• Lemonade: Digital-native insurance carrier using AI-driven underwriting and direct distribution. Relevant as a structural headwind to traditional independent agencies like LMIA whose auto/home personal lines depend on licensed agent intermediation.
• Policygenius: Digital-first insurance marketplace that shops multiple carriers for life, home, and disability online. Directly competes with LMIA's agent-led multi-carrier comparison model by removing the local agent from the funnel, highlighting the disruptor risk to LMIA's motion.

Direct peers

• Goosehead Insurance: Independent insurance agency/franchise model that distributes personal lines through multiple carriers. Comparable to LMIA because both rely on commission-based multi-carrier distribution, though Goosehead operates a franchise network versus LMIA's two-office direct model.

Regional players

• LeClerc Insurance Agency: Michigan-focused independent insurance agency serving personal and small commercial lines. Direct comparable for LMIA's regional Midwest independent agency model, geographic concentration in Michigan, and reliance on multiple regional carriers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lake Michigan Insurance