Accord Insurance Group

What Accord Insurance Group does

Accord Insurance Group (אקורד קבוצת ביטוח) is one of the five largest insurance agency groups in Israel, operating as a family-owned private brokerage with origins tracing to 1946 through the G.B.O. Insurance Agency founded by the Kalman family, the A. Shfak Insurance Agency (1963), and K.Sh. Insurance Agency (1997). The group, headquartered in Azor, Israel, serves tens of thousands of customers across personal lines (home, vehicle, life, travel, accident, mortgage) and business lines (property, liability, cyber, D&O, construction, fleet, goods in transit). Its core operating subsidiary, K.Sh. International Underwriters, holds exclusive Lloyd's of London authorization for underwriting in Israel and is the only Israeli insurer focused exclusively on transport and passenger sectors — covering trucks, buses, heavy equipment, and goods-in-transit.

The group operates a multi-channel distribution model: enterprise field sales for corporate clients, an inside sales hotline (9003) for retail and SMB inquiries, and a network of hundreds of third-party insurance agents placing business through K.Sh. International Underwriters for specialized transportation coverage. Revenue is generated primarily through commission-based brokerage on premiums written with Israeli and international carriers, supplemented by advisory fees for risk management, claims handling, and contractual risk consulting. The 2018 partnership with Arthur J. Gallagher (Gallagher Global Alliance) extends Accord's reach to international insurance programs for Israeli clients with cross-border operations, making it a gateway between the domestic Israeli market and global reinsurance capacity.

The business model is relationship-driven rather than technology-driven: there is no proprietary digital platform, mobile app, or AI-driven underwriting, and the group's value proposition rests on top-5 market position, exclusive Lloyd's authorization, Gallagher's international network, and experienced veteran management. Ownership remains concentrated in the founding Kalman and Shfak families, with no disclosed venture capital or private equity backing. The pricing model is quote-based, varying by coverage scope, risk profile, and policy terms, with annual billing cycles on most personal and commercial policies.

Name

Accord Insurance Group

Legal name

אקורד סוכנות לביטוח בע"מ

Website

https://accord-ins.com

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

51–100 employees

Short description

Accord Insurance Group is one of Israel's five largest insurance agency groups, offering personal, business, and specialty insurance brokerage across tens of thousands of customers, with exclusive Lloyd's of London authorization via K.Sh. International Underwriters and international reach through the Gallagher Global Alliance partnership.

Ownership category

akta.pro rank

Headquarters

HQ city

Azor

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance brokerage commissions: Commission-based revenue from placing insurance policies with Israeli and international insurance carriers. Earns commissions as percentage of premiums written.
2. Risk management and consulting services: Advisory fees for risk assessment, claims management, and insurance portfolio optimization services for business clients.
3. International insurance solutions: Revenue from facilitating international insurance programs for global clients through Gallagher Global Alliance partnership.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Accord Insurance Group is an independent insurance brokerage that places personal, business, and pension/financial insurance policies with Israeli and international carriers on behalf of its clients. The group earns commissions on premium volume and supplements placement with risk advisory, claims management, and contractual risk review services. Its subsidiary K.SH. International Underwriters, authorized by Lloyd's of London, underwrites specialized transportation and transit insurance, while the 2018 Gallagher Global Alliance partnership extends the offering to international insurance programs.

Product overview

Accord Insurance Group is one of Israel's five largest insurance agencies, offering a comprehensive insurance brokerage platform across personal, business, and pension/financial lines. The portfolio spans personal insurance products (private car, home, travel, personal accident, mortgage, life and financial), business insurance products (property, liability, cyber, D&O, construction, fleet, goods in transit), and specialized services (contractual risk management, claims handling, training). The group includes subsidiary sub-brands such as K.S. International Underwriters (specializing in transport and haulage insurance, authorized by Lloyd's), and operates through the Gallagher Global Alliance partnership for international insurance solutions. The group also offers bespoke risk management consulting and claims advocacy services alongside its insurance products.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Car Insurance (ביטוח רכב פרטי) Vehicle insurance for individual customers covering property damage from accidents or theft and third-party liability for damage caused to others' property or vehicles.
• Business Insurance and Special Risks (ביטוח עסקי וסיכונים מיוחדים) Comprehensive business insurance umbrella covering property, professional liability, goods in transit, fire and theft, third-party liability, employers liability, and loss of profits for Israeli businesses.
• Home Insurance (ביטוח דירה) Policy covering home structure and contents based on statutory minimum coverage requirements for damage to insured property (structure and/or contents).
• Personal Accident Insurance (ביטוח תאונות אישיות) Insurance covering bodily injury that may result in temporary or permanent loss of working capacity, permanent disability, or death.
• Construction Works Insurance (ביטוח עבודות קבלניות) Insurance for contractors, developers, and private individuals undertaking construction, infrastructure, or renovation projects, covering diverse risks throughout the project lifecycle.
• Life and Financial Insurance (ביטוח חיים ופיננסים) Life insurance enabling maintenance of family living standards, income continuity upon retirement, and coverage for death, disability, or loss of earning capacity.
• Trucks, Buses and Heavy Equipment Insurance (ביטוח משאיות, אוטובוסים וצ.מ.ה.) Specialized insurance for transport and hauling operations, covering trucks including dangerous goods, buses for paid transport, and construction machinery (CME).
• Travel Insurance (ביטוח נסיעות לחו״ל) Travel insurance covering bodily injury to the insured abroad and providing financial compensation for damage to passenger belongings.
• Directors and Officers Liability Insurance (ביטוח דירקטורים ונושאי משרה D&O) Insurance protecting directors and officers against professional liability claims, including class actions and derivatives, as part of the corporate insurance suite.
• Cyber Insurance (ביטוח סיכוני סייבר) Comprehensive coverage protecting businesses against all risks arising from cyber attacks and cyber events on the organization.
• Personal Import Car Insurance (ביטוח רכב בייבוא אישי) Vehicle insurance for personally imported cars, covering property damage from accidents or theft and third-party liability.
• Mortgage Insurance (ביטוח משכנתא) Insurance required by banks for mortgage borrowers, comprising building insurance (covering structural damage) and life insurance (protecting the outstanding loan balance upon death of a borrower).
• Goods in Transit Insurance (ביטוח סחורה בהעברה) Insurance covering loss or damage to goods during transport by vehicle until delivery and unloading at destination, covering risks such as collision, overturning, fire, weather damage, theft, and robbery.
• Employee Loyalty Insurance (ביטוח נאמנות עובדים) Insurance covering the business against employee embezzlement, fraud, theft, and misappropriation of funds and property.
• Fleet Insurance (ביטוח ציי רכב) Insurance covering multiple vehicles under a single policy, typically offering cost advantages, including mandatory coverage, comprehensive, and third-party liability.
• Professional Liability Insurance (ביטוח אחריות מקצועית) Insurance protecting free professionals (accountants, lawyers, electricians, tax consultants, technicians) against third-party claims arising from professional negligence or error.
• Employers Liability Insurance (ביטוח חבות מעבידים) Insurance covering businesses against compensation claims filed by employees for injuries or illnesses sustained during and because of their work, providing higher compensation than national insurance benefits.
• Product Liability Insurance (ביטוח חבות מוצר) Insurance providing coverage for manufacturers and distributors when their distributed product causes damage to a third party, whether bodily or property damage, including claims arising even without negligence.
• K.SH. International Underwriters (ק.ש. חתמים בינלאומיים) Specialized international underwriting entity — the only insurer in Israel focused exclusively on transport and passenger sectors — offering insurance for buses, trucks, heavy equipment, and goods in transit, authorized by Lloyd's of London.
• International Insurance Programs via Gallagher Global Alliance International insurance program delivery through the 2018 partnership with Arthur J Gallagher (global insurance broker founded 1927, operating in 150+ countries with 32,000 employees), enabling Accord to provide cross-border coverage solutions for Israeli clients with international operations.
• Contractual Risk Management Advisory (ניהול סיכונים בהתקשרויות חוזיות) Advisory service reviewing contractual relationships with suppliers and clients, providing guidance on liability and insurance clauses, aimed at reducing business exposure through risk transfer.
• Business Insurance Claims Management (טיפול בתביעות ביטוח עסקיות) Claims handling service including claim review, negotiation with insurers for advance and final payments, coverage advice, and ongoing support throughout the claims process.

Named customers19 records

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

Two partnerships are on record, tiered core.

• Arthur J Gallagher (Gallagher Global Alliance)coreStrategic or Co-development Partner · 1 January 2018In 2018, Accord Insurance Group was appointed as the Israeli partner and representative of Arthur J Gallagher, a major international insurance broker founded in 1927 with over 30,000 employees in more than 150 countries. This partnership enables Accord to provide international insurance solutions and access to global insurance markets for Israeli clients with international operations.
• Lloyd's of London (via K.Sh. International Underwriters)coreTechnology or IntegrationK.Sh. International Underwriters holds exclusive authorization from Lloyd's of London for underwriting various insurance lines in Israel, approved by the Israeli Insurance Commissioner. This enables placement of complex and international insurance risks through Lloyd's syndicate.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Willis Towers Watson: Global advisory, broking, and solutions firm (NASDAQ: WTW) with major insurance brokerage operations. Comparable to Accord as an enterprise-focused insurance intermediary with international placement capabilities.
• Arthur J. Gallagher: Global insurance brokerage and risk management firm (NASDAQ: AJG) founded in 1927, operating in 150+ countries with 32,000+ employees. Accord is the Israeli partner of Gallagher's Global Alliance, and they are directly comparable as commercial insurance brokers serving enterprise clients — Gallagher simply operates at vastly greater scale and global footprint.
• Marsh McLennan: World's largest insurance broker and risk advisor (NYSE: MMC), with Marsh serving as the global brokerage arm. Highly comparable to Accord as a commercial insurance intermediary placing property, casualty, and specialty lines for enterprise clients.
• Brown & Brown: U.S.-based insurance brokerage (NYSE: BRO) with a national network of retail agencies. Comparable to Accord as a diversified commercial and personal lines insurance agency, though operating at much larger scale across the U.S. market.
• Hub International: North American insurance brokerage owned by Hub International. Comparable as a property-and-casualty-focused broker serving mid-market and enterprise clients with multi-channel distribution — similar GTM to Accord's field-sales-and-inside-sales blend.
• Aon: Global professional services firm (NYSE: AON) with one of the two largest insurance brokerage platforms worldwide. Directly comparable to Accord in risk transfer, reinsurance placement, and commercial insurance brokerage for large clients.

Direct peers

• Acrisure: Privately held, fast-growing insurance brokerage backed by capital partners. Comparable to Accord as a tech-enabled brokerage rapidly consolidating agencies — represents the kind of PE-backed competitor Accord could face in its market.
• Lockton: Largest independent (privately held) insurance brokerage in the world. Directly comparable to Accord as a privately held, family/employee-controlled broker with strong specialty line expertise, enterprise client focus, and global reach via partnerships.

Regional players

• Harel Insurance: One of Israel's largest insurance and financial services groups (TASE: HARL). Comparable as a major Israeli insurance player, though Harel operates as a carrier/investment conglomerate rather than a brokerage; competes with Accord for similar enterprise and personal insurance customers.
• Phoenix Holdings: Major Israeli insurance and financial group (TASE: PHOE) controlling Phoenix Insurance. Comparable as a leading Israeli insurance brand; competes with Accord as both a potential carrier partner and as a customer-facing brand, though operates as carrier rather than broker.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/accordinsgroup
• LinkedInlinkedin.com/company/accord-ins

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

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 Accord Insurance Group