V+A Risk Services

What V+A Risk Services does

V+A Risk Services is a privately held Third Party Administrator (TPA) headquartered in Toledo, Ohio, providing workers' compensation and unemployment claims management exclusively to Ohio employers. Founded in 2012 by the late Jim Vassar, the firm operates three core service lines: Self-Insured Solutions for employers granted self-insurance status by the Ohio Bureau of Workers' Compensation, State-Funded Solutions for Ohio BWC state-funded program participants, and Unemployment Solutions for Ohio businesses navigating unemployment claims. A fourth offering, the Grow Ohio Incentive Program, leverages the BWC group-experience rating framework to deliver premium discounts of up to 53% for new Ohio employers. The company employs approximately 12 people and reports 40+ self-insured clients, 96% client retention, and a 4.8/5 client satisfaction rating.

The technology stack is centered on a 24/7 web-based client portal that provides self-insured clients access to claim payments, manager notes, claim dispositions, loss runs, and claim status reports, alongside phone-based and inside-sales engagement. Revenue is generated through recurring fixed/flat fee structures for claims administration services and a $125 annual enrollment fee for the Grow Ohio program; specific TPA pricing is quote-based and not publicly disclosed. Go-to-market is direct and relationship-led, relying on discovery calls, online quote requests, dedicated phone lines (800.493.9662, 419.867.1044), and community events such as the long-running Jim Vassar Memorial Golf Tournament. Operating geographies are limited to Ohio, with no evidence of expansion beyond the state or external capital raises.

Name

V+A Risk Services

Legal name

V+A Risk Services

Website

https://variskservices.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

V+A Risk Services is a Toledo, Ohio-based Third Party Administrator providing workers' compensation and unemployment claims management exclusively to Ohio employers across self-insured, state-funded, and Grow Ohio group-rating programs.

Ownership category

akta.pro rank

Product category

Workers' Compensation Claims Administration (Third Party Administration)

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Workers’ Compensation & Occupational Health TPA (HLAEALAL)

Keywords

• Workers compensation claims administration
• Third party administration services
• Unemployment claims management
• Self-insured employer programs
• Ohio Bureau of Workers Compensation

Headquarters

HQ city

Toledo

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. TPA Services - Claims Administration: Third Party Administration services for workers' compensation claims management including self-insured programs, state-funded programs, and unemployment solutions. Revenue generated through fixed/flat fee structures for claims administration and management services.
2. Grow Ohio Program Enrollment: Annual enrollment fee of $125 for participation in the Grow Ohio Group Rating Plan, which includes enrollment into V+A Risk Services group rating program, assistance with managing workers' compensation claims, and representation at workers' compensation hearings.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

V+A Risk Services is a Third Party Administrator (TPA) that administers workers' compensation claims for Ohio employers across self-insured and state-funded programs, as well as unemployment claims management and cost-control services. The company provides custom-tailored programs with dedicated expert access, flat-fee pricing, 24/7 client portal reporting, hearing representation, and a network of attorneys, doctors, and claims adjusters. It also operates the Grow Ohio Incentive Program, a group-experience rating plan offering premium discounts of 10% to 53% for new Ohio employers through the Ohio Bureau of Workers' Compensation.

Product overview

V+A Risk Services offers a unified TPA platform providing three interconnected service lines: Self-Insured Solutions, State-Funded Solutions, and Unemployment Solutions, all built around high-touch, tech-enabled claims management with dedicated human experts. The company also administers the Grow Ohio Incentive Program for BWC group rating. A 24/7 Client Portal complements the service offerings by providing self-insured clients real-time access to claims data and reports. The portfolio is Ohio-focused with emphasis on personalized service, fixed-fee pricing, and proactive claims management across workers' compensation and unemployment domains.

Differentiator

Problem solved

Functional benefit

Products and services

• Self-Insured Solutions Custom-tailored self-insured workers' compensation programs offering expert claims management, dedicated specialists, flat-fee pricing, 24/7 client portal access for reports and claim management, legal representation network, and Ohio-specific expertise for faster claims processing. For Ohio employers granted self-insurance privilege by Ohio BWC.
• State-Funded Solutions High-touch claims administration for state-funded Ohio BWC workers' compensation programs, providing dedicated expert support from initial filing through final adjudication, negotiated rate discounts of 10-53%, and access to a network of attorneys, doctors, and claims adjusters. For Ohio employers participating in state-funded programs who may lack dedicated claims managers on staff.
• Unemployment Solutions Customized unemployment cost-control programs with expertise in Ohio unemployment regulations, providing cost and risk reduction services, overpayment prevention, compliance with state and federal guidelines, and dedicated human support for claims navigation. For Ohio businesses of various sizes needing assistance with complex unemployment rules.
• Grow Ohio Incentive Program Group-experience rating program helping new Ohio employers unlock premium discounts of up to 53% on workers' compensation through the Ohio Bureau of Workers' Compensation (BWC) initiative. Annual enrollment fee of $125 includes enrollment into V+A Risk Services group rating program, assistance managing workers' compensation claims, and representation at workers' compensation hearings if necessary. Available to new Ohio employers creating jobs on or after July 1, 2011.
• 24/7 Client Portal All-the-time access portal for self-insured clients providing reports, claim payments, manager notes, claim dispositions, and ability to create loss runs and claim status reports.

Quantifiable outcome

• 96% client retention rate demonstrates strong customer satisfaction and service quality
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators6 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• CompManagement Health Systems: CompManagement Health Systems is an Ohio BWC MCO administering workers' compensation claims for Ohio employers. Operates in the same regulatory environment and serves overlapping employer segments as V+A's State-Funded and Self-Insured Solutions.
• PMA Companies: PMA Companies provides workers' compensation TPA services, claims management, and managed care to self-insured employers across multiple states. Comparable to V+A's Self-Insured and State-Funded Solutions with similar fee-based claims administration model.
• CorVel Corporation: CorVel is a national TPA providing workers' compensation claims administration, managed care, and risk management services to employers. Comparable to V+A in core service offering, though at much larger scale and with technology-forward positioning.
• TRISTAR Claims Management Services: TRISTAR is a workers' compensation and property/casualty TPA that absorbed Ohio-based Sheakley, a former direct peer in the Ohio market. Both V+A and TRISTAR administer workers' comp claims for self-insured and state-funded employers, with overlapping Ohio client segments and similar fee-based revenue models.
• Acclaim Risk Management: Acclaim Risk Management provides workers' compensation and unemployment claims administration as a TPA for self-insured employers. Closely aligned with V+A in service mix, customer profile (mid-market self-insured employers), and recurring fee structure.
• CareWorks CompManagement: CareWorks CompManagement is an Ohio BWC-contracted managed care organization (MCO) providing workers' compensation claims administration for Ohio employers. Directly competitive with V+A in the same state-funded and self-insured Ohio employer segments.
• Sheakley (now TRISTAR): Sheakley was a long-standing Ohio-based TPA providing workers' compensation and unemployment claims administration for self-insured employers - a near-identical service offering to V+A in the same Ohio geography. It was acquired by TRISTAR but continues operating in the Ohio market directly competitive with V+A.

Broad incumbents

• Gallagher Bassett Services: Gallagher Bassett is a major national TPA providing workers' compensation, liability, and property claims administration for self-insured employers. Directly competes with V+A in the self-insured workers' comp TPA market but serves far larger enterprise clients nationwide.
• Helmsman Management Services (Liberty Mutual): Helmsman Management Services is Liberty Mutual's in-house TPA providing workers' compensation claims administration to self-insured employers. Competes with V+A in the self-insured TPA market as part of a much larger carrier-owned operation with national reach.
• Sedgwick (Marsh McLennan): Sedgwick is the largest U.S. workers' compensation TPA, administering claims for self-insured employers nationwide. A broad incumbent that competes with V+A in the self-insured workers' comp space at significantly greater scale and with broader service portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks2 records

Customer concentration

• Xx.com/variskservices

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 V+A Risk Services