B & S Insurance Agency

What B & S Insurance Agency does

B & S Insurance Agency, Inc. is a privately-held independent insurance agency founded in 1984 and headquartered at 118 E. LaFayette, Palmyra, Missouri. The firm operates through approximately nine team members, including six licensed producers and supporting customer service staff, and serves individuals, families, farm owners, commercial businesses, and employers across a tri-state region covering Missouri, Illinois, and Iowa. Its product portfolio spans personal lines (home, auto, life, health, dental, senior, and Medicare-related products), farm and crop insurance (farm owners, Multi-Peril Crop Insurance, hail), commercial lines (property, general liability, business auto, workers' compensation, bonds, inland marine, and specialty classes including churches and trucking), and employee benefits (group health, dental, AFLAC supplements, and disability).

The agency generates revenue primarily through commissions earned on policies placed with a broad network of 38+ carrier partners, including national carriers (Progressive, Liberty Mutual, Chubb, United Healthcare) and regional mutuals (Grinnell Mutual, West Bend Mutual, Western Illinois Mutual, Missouri Employers Mutual). The firm holds no proprietary technology platform and discloses no APIs, AI capabilities, or automation systems; distribution is sales-led, delivered through direct consultations with licensed producers, supported by a CMS-driven website, email newsletters, and an active social media presence. Pricing is quote-based and customized per customer; coverage cannot be bound online. Notable operational hallmarks include a multi-decade "No Bull" brand positioning in the Palmyra market, multiple in-house crop insurance specialists led by founder Frank Burch (LUTCF-designated since 1999), and a documented succession pathway with Mason Burch transitioning to full-time in 2023 after completing an Agribusiness Management degree at the University of Missouri.

Name

B & S Insurance Agency

Legal name

B & S Insurance Agency, Inc.

Website

https://bandsins.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

1–10 employees

Short description

B & S Insurance Agency is a privately-held, independent insurance agency founded in 1984 in Palmyra, Missouri, serving individuals, families, farmers, and commercial businesses across Missouri, Illinois, and Iowa through licensed producers and 38+ carrier partnerships.

Ownership category

akta.pro rank

Headquarters

HQ city

Palmyra

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: The agency earns commissions from selling and servicing insurance policies from multiple carrier partners including personal, commercial, farm, crop, health, dental, life, and employee benefits insurance products.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

B & S Insurance Agency is an independent insurance agency that sells and services personal, farm, commercial, and employee benefits coverage from multiple carrier partners. Licensed producers work directly with customers to recommend coverage, provide annual reviews, and place policies through carriers such as Progressive, Liberty Mutual, CHUBB, Grinnell Mutual, Auto-Owners, State Auto, Mutual of Omaha, United Healthcare, Cigna, AFLAC, and others, operating across Missouri, Illinois, and Iowa.

Product overview

B & S Insurance Agency is an independent insurance agency offering a comprehensive portfolio of insurance products across three main categories: Personal Insurance (home, auto, life, health, dental, and senior products), Farm Insurance (farm owners, Multi-Peril Crop Insurance, and hail coverage), and Commercial Insurance (property, liability, business auto, worker's compensation, and more). The agency also provides Employee Benefits including group health, dental, AFLAC supplement, and disability plans. As an independent agency, they work with multiple insurance carriers to find the right coverage for their customers. Their signature approach is the "No Bull" philosophy—straightforward, honest service without hidden surprises in policies. They specialize in agricultural insurance for Missouri, Illinois, and Iowa with a particular focus on crop and farm coverage, with several team members holding crop specialist designations.

Differentiator

Problem solved

Functional benefit

Products and services

• Farm Owners Insurance A combination of homeowners, commercial property, and commercial liability coverage designed to protect farming operations against various risks. Targeted at farm owners in Missouri, Illinois, and Iowa.
• Multi-Peril Crop Insurance (MPCI) Allows farmers to insure a certain percentage of historical crop production, protecting against crop yield losses due to covered perils. Targeted at crop operators in the Midwest.
• Hail Insurance Farm insurance policies specifically designed to protect farmers against weather events such as hail that could threaten their livelihood. Targeted at farm owners and crop operators.
• Home Insurance Protects homes and possessions against damage or theft, with policies available for rental properties, seasonal or vacant dwellings, mobile homes, and renters insurance. Targeted at homeowners and tenants.
• Auto Insurance Provides financial protection for vehicle damage or theft and expenses incurred from accidents, with additional coverage for motorcycles, golf carts, antique automobiles, RVs, ATVs, UTVs, and watercraft. Targeted at individual vehicle owners.
• Life Insurance Covers funeral and burial costs, assumes debt, can replace income for dependents, create inheritance for heirs, and set up business succession plans. Targeted at individuals and families.
• Health Insurance Individual health insurance plans that provide essential and affordable medical care, including prescription plans. Targeted at individuals and families.
• Dental Insurance Insurance coverage to help offset costs of dental work and encourage regular dental care to catch problems early. Targeted at individuals and families.
• Senior Products Medicare Part D and Medicare Supplement plans designed to fit seniors' lifestyles and healthcare needs. Targeted at seniors and their families.
• Commercial Insurance Coverage including Property, General Liability, Business Auto, Trucks and Trailers, Worker's Compensation, Business Owners Policies, Special Events, Inland Marine, Churches, Bonds, and Commercial Driver's License Legal Shield. Targeted at small businesses, churches, and commercial enterprises.
• Employee Benefits Group health, dental, AFLAC supplement, and disability plans designed to help business owners recruit and retain talent. Targeted at employers seeking benefits packages for their workforce.
• Legacy Builder Plan Individual life policy for children or grandchildren combined with an annuity rider offering a lifetime guaranteed minimum interest of 3% (currently up to 4.75%). Provided through carrier partner Royalty Capital. Targeted at families planning multi-generational wealth transfer.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

37 partnerships are on record, tiered core and minor.

• AFLACcoreChannel Partner/ Reseller/ DistributorAFLAC supplemental insurance products are offered through the agency, providing accident, critical illness, and hospital indemnity coverage as part of employee benefits offerings.
• Auto-OwnerscoreChannel Partner/ Reseller/ DistributorInsurance carrier partner for personal and commercial auto coverage.
• American ReliableminorChannel Partner/ Reseller/ DistributorInsurance carrier partner.
• Agri-Sompo Crop InsurancecoreChannel Partner/ Reseller/ DistributorCrop insurance carrier providing multi-peril crop insurance products for agricultural clients.
• The Barton GroupminorChannel Partner/ Reseller/ DistributorInsurance partner.
• Billings MutualminorChannel Partner/ Reseller/ DistributorRegional mutual insurance carrier partner.
• State AutocoreChannel Partner/ Reseller/ DistributorInsurance carrier partner for various personal and commercial lines.
• Western Illinois MutualminorChannel Partner/ Reseller/ DistributorRegional mutual insurance carrier serving western Illinois.
• CFM InsuranceminorChannel Partner/ Reseller/ DistributorInsurance carrier partner.
• CHUBB InsurancecoreChannel Partner/ Reseller/ DistributorPremier insurance carrier partner for high-value personal and commercial coverage.
• CignacoreChannel Partner/ Reseller/ DistributorHealth and dental insurance carrier partner for employee benefits.
• Classic CollectorsminorChannel Partner/ Reseller/ DistributorSpecialty insurance carrier for classic and antique automobiles.
• CNA SuretyminorChannel Partner/ Reseller/ DistributorSurety and bond insurance carrier.
• Collectibles Insurance ServicesminorChannel Partner/ Reseller/ DistributorSpecialty insurance for collectibles and valuable items.
• Everest Reinsurance CompanyminorChannel Partner/ Reseller/ DistributorReinsurance carrier partner.
• Farmers Mutual of Macon CountyminorChannel Partner/ Reseller/ DistributorRegional farm mutual insurance carrier.
• First CompminorChannel Partner/ Reseller/ DistributorWorkers compensation insurance carrier.
• Golden RuleminorChannel Partner/ Reseller/ DistributorHealth insurance carrier.
• Grinnell MutualcoreChannel Partner/ Reseller/ DistributorRegional mutual insurance carrier for personal and commercial lines.
• Haulers InsuranceminorChannel Partner/ Reseller/ DistributorSpecialty insurance for trucking and hauler operations.
• HippominorChannel Partner/ Reseller/ DistributorModern insurance carrier for home insurance.
• Hudson Crop InsurancecoreChannel Partner/ Reseller/ DistributorCrop insurance specialist providing agricultural coverage.
• Liberty MutualcoreChannel Partner/ Reseller/ DistributorMajor national insurance carrier partner.
• MedicominorChannel Partner/ Reseller/ DistributorInsurance carrier for senior and supplemental products.
• Missouri Employers MutualminorChannel Partner/ Reseller/ DistributorWorkers compensation specialist for Missouri employers.
• Mutual of OmahacoreChannel Partner/ Reseller/ DistributorHealth, life, and supplemental insurance carrier for Medicare and employee benefits.
• Philadelphia AmericanminorChannel Partner/ Reseller/ DistributorHealth insurance carrier.
• ProgressivecoreChannel Partner/ Reseller/ DistributorMajor auto and home insurance carrier.
• RLIminorChannel Partner/ Reseller/ DistributorSpecialty insurance and surety carrier.
• Royalty CapitalminorChannel Partner/ Reseller/ DistributorFeatured product partner offering Legacy Builder Plan, an individual life policy with annuity rider for multi-generational wealth transfer.
• SafecocoreChannel Partner/ Reseller/ DistributorPersonal insurance carrier for auto, home, and umbrella coverage.
• Aetna SilverscriptminorChannel Partner/ Reseller/ DistributorMedicare Part D prescription drug plan carrier.
• United HealthcarecoreChannel Partner/ Reseller/ DistributorMajor health and dental insurance carrier for employee benefits.
• WellCareminorChannel Partner/ Reseller/ DistributorMedicare Advantage and prescription drug plan carrier.
• West Bend MutualcoreChannel Partner/ Reseller/ DistributorRegional mutual insurance carrier for personal and commercial lines.
• Western Catholic UnionminorChannel Partner/ Reseller/ DistributorFraternal benefit organization offering life and supplemental insurance.
• Western SuretyminorChannel Partner/ Reseller/ DistributorSurety and bond insurance carrier.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Allstate: National P&C incumbent distributing through captive and some independent agents. Directly comparable product lines (auto, home, commercial) but vastly larger scale and increasingly direct-to-consumer, making it a useful incumbent reference rather than a like-for-like competitor.
• State Farm: Largest US personal lines carrier, distributing through captive agents nationwide. Competes with B&S for the same personal auto/home customer wallet in MO/IL/IA; relevant as a benchmark incumbent, not a direct independent-agency competitor.
• American Family Insurance: Large Midwest-rooted mutual insurer with national reach distributing through captive agents. Comparable product set (auto, home, farm, life, commercial) but a much broader geographic footprint and significantly larger scale make it an incumbent benchmark rather than a head-to-head rival.

Direct peers

• Auto-Owners Insurance: Midwest-based mutual property & casualty carrier distributing exclusively through independent agents across similar geographies. B&S is an Auto-Owners agency partner; comparable on carrier-independent-agent distribution, multi-line personal/commercial mix, and rural Midwestern customer base.
• Farm Bureau Financial Services: Midwest-based mutual financial services group that distributes through captive agents with strong farm and crop insurance franchises. Directly comparable to B&S because of overlapping ag-insurance specialization, multi-state Midwestern footprint, and agent-led distribution model.
• Shelter Insurance: Missouri-headquartered mutual insurer selling personal, commercial, and farm lines through local agents across the Midwest. Highly comparable given shared home state, similar product breadth (auto/home/farm/commercial), and agent-distribution model in overlapping MO/IL/IA territory.
• Grinnell Mutual: Iowa-based regional mutual P&C carrier distributing through independent agents across the Midwest. B&S is a Grinnell Mutual agency partner; directly comparable on independent-agency model, regional Midwest focus, and mutual-carrier distribution philosophy.
• COUNTRY Financial: Midwest-headquartered multiline insurer and financial services group distributing through captive agents. Comparable on product breadth (personal, farm, commercial, life), regional Midwestern concentration, and producer-led sales motion.

Regional players

• Erie Insurance: Regional mutual P&C carrier distributing through independent agents in the Midwest, Mid-Atlantic, and Southeast. Comparable on independent-agent distribution model and multiline personal/commercial focus, though B&S's crop and tri-state farm focus is a distinguishing specialty.
• Westfield Insurance: Ohio-based regional mutual carrier selling personal, commercial, and farm lines through independent agents in the Midwest. Comparable on independent-agency distribution and multiline mix; relevant regional competitor across B&S's MO/IL/IA footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 B & S Insurance Agency