What The Builders Group does

The Builders Group (TBG) is a member-owned, nonprofit self-insured workers' compensation fund founded in 1997 in Eagan, Minnesota, that exclusively serves the construction industry in Minnesota. It was established by 52 construction companies seeking to control rising workers' comp costs, and now covers 660+ member companies and approximately 38,000+ construction workers, which the company reports as more than 28% of Minnesota's construction industry. The organization is governed by a Board of Directors made up of contractor-members from firms such as Midwest Fence and Manufacturing, Northland Concrete and Masonry, Lloyd's Construction Services, LS Black Constructors, Swanson Homes, and Pro Drywall and Painting, with Chair Tom Corrigan (a founding member) and CEO Stu Thompson (joined 2002) leading day-to-day operations alongside COO Jon Schindel.

TBG's core product is the self-insured workers' compensation fund itself, supplemented by a portfolio of risk-management services: Safety Services through the TBG Safety Service Association, a 24/7 NurseCare injury-reporting hotline, a state-of-the-art training center in Eagan with hands-on rooms (Iron Range Safety Training Room, Trench Room), mobile training vans and trailers delivered to member job sites, a library of 900+ on-demand safety videos in English and Spanish, a Member Portal for payroll reporting and account management, claims management services coordinated with healthcare partners such as Minnesota Occupational Health and Summit Orthopedic, and workforce development funding via the TBG Education Foundation.

Commercially, TBG operates exclusively as a channel business: coverage is not sold direct, only through 27+ independent insurance agencies across Minnesota (including USI Insurance Services, Holmes Murphy, North Risk Partners, Brown & Brown, and Choice Insurance). Member premiums are pooled in the fund, members are jointly and severally liable for their proportionate share of fund obligations, and the fund has historically never assessed members, instead returning $51 million in cumulative dividends and declaring a dividend for nine consecutive years. Premiums are calculated by covered payroll, claims experience, and trade classification, with an optional Pay-As-You-Go billing mode to accommodate the seasonality of construction cash flow. The model functions as a recurring, subscription-style revenue stream tied to the Minnesota construction employment base.

Name

The Builders Group

Legal name

The Builders Group

Website

https://tbgmn.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

The Builders Group is a member-owned, nonprofit self-insured workers' compensation fund founded in 1997 that exclusively serves Minnesota's construction industry, pooling premiums from 660+ member companies covering 38,000+ workers and adding safety training, claims management, and workforce development services.

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Other Insurance Funds (525190), Insurance and Employee Benefit Funds (5251)

akta.pro primary industry

Self-Insured Workers’ Compensation Programs (FSAJAEAD)

akta.pro secondary industry

Construction Specialty (Wrap-Ups/Builders Risk/Contractors) (FSAJAGAH)

Keywords

• Workers compensation insurance
• Construction safety services
• Self-insured workers comp fund
• Construction claims management
• Risk management construction

Headquarters

HQ city

Eagan

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, Infrastructure

Revenue model

1. Workers' Compensation Premiums: TBG operates as a self-insured fund where member construction companies pay premiums into a pooled fund to cover workers' compensation claims. Members are jointly and severally liable for their proportionate share of obligations.
2. Pay-As-You-Go Premium Option: Flexible premium payment option designed to help members manage costs more effectively, accommodating changes in workload and cash flow typical in construction.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

The Builders Group operates a member-owned, self-insured workers' compensation fund exclusively serving the Minnesota construction industry, pooling member premiums to cover claims and returning surpluses as dividends. Members receive bundled safety services, 24/7 injury reporting via the NurseCare Hotline, hands-on training rooms and mobile training units, proactive claims management, and a Pay-As-You-Go premium payment option accessible only through independent insurance agents throughout Minnesota.

Product overview

The Builders Group (TBG) offers a self-insured workers' compensation fund as its core product, exclusively serving Minnesota's construction industry. The company provides a comprehensive portfolio of add-on services including Safety Services with customized training and OSHA compliance assistance, a 24/7 NurseCare Hotline for injury reporting, Training Rooms with hands-on facilities like the Iron Range Safety Training Room and Trench Room, Mobile Training Units that bring safety training to job sites, the TBG Education Foundation for workforce development, Pay-As-You-Go payment options, and a Member Portal for online account management. TBG also offers Claims Management Services focused on proactive, personalized support. The ecosystem is designed to provide contractors with more than just insurance coverage—offering end-to-end risk management, safety support, and workforce development.

Differentiator

Problem solved

Functional benefit

Brands

• TBG Education Foundation: A foundation committed to building the next generation of skilled tradespeople through scholarships, classroom grants, tool donations, and skilled trades programs.
• TBG Safety Service Association

Products and services

• Self-Insured Workers' Compensation Fund Minnesota's #1 self-insured workers' compensation fund exclusively serving the construction industry, providing affordable, high-quality coverage tailored to construction company risks through pooled premiums and dividend distributions rather than member assessments.
• Safety Services Comprehensive safety support exclusively for construction business Members, including customized safety training, expert support, onsite visits and reviews, OSHA compliance assistance, advanced safety technology, and site safety plan and program development.
• NurseCare Hotline 24/7 access to professional medical advice and injury reporting at no cost to Members, providing assessment, treatment guidance, and follow-up support staffed by medical professionals for workplace injuries.
• Claims Management Services Proactive claims management with expert claims adjusters who provide personalized service and smooth transitions back to work for injured employees, including healthcare partner coordination with providers such as Minnesota Occupational Health and Summit Orthopedic.
• Training Rooms and Facilities State-of-the-art training center with hands-on safety training rooms — including the Iron Range Safety Training Room and a Trench Room — plus classroom spaces for interactive, real-world learning covering fall protection, ladder safety, confined space entry, and electrical safety.
• Mobile Training Units Safety van and trailer that bring hands-on training directly to Members' job sites, equipped for real-world demonstrations including fall protection, confined-space awareness, electrical safety, and proper tool use.
• Member Portal Online self-service portal for Members to access account information, submit claims, view payroll reporting, and manage their workers' compensation coverage with periodic system maintenance updates.
• Pay-As-You-Go Workers' Comp Flexible premium payment option that helps Members manage costs aligned with construction's variable cash flow, accommodating changes in workload while keeping coverage in force.
• Safety Video Library On-demand safety video library of 900+ videos in English and Spanish covering construction safety topics such as fall protection, ladder safety, heat safety, electrical safety, and PPE.
• TBG Education Foundation Programs Workforce development initiative funding skilled trades programs, classroom grants, scholarships, and tool donations through the TBG Education Foundation to prepare the next generation of skilled tradespeople for careers in construction.

Quantifiable outcome

• 97% member retention rate demonstrating high satisfaction and value delivery
• +4 more outcomes

Named customers11 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core, secondary and minor.

• Minnesota Builders Exchange (MBEX)coreStrategic or Co-development PartnerLong-standing collaboration where MBEX delivers access to thousands of construction projects annually while TBG supports 28% of Minnesota's construction workforce through self-insured workers' comp. TBG is one of MBEX's largest supporters through sponsorships and shared commitment to the construction industry.
• Association of Women Contractors (AWC)coreStrategic or Co-development PartnerPartnership to support women business owners in construction. TBG provides trade scholarships matching through the Education Foundation, safety services, and workers' comp coverage. Executive Director Barb Lau shared how AWC creates space and opportunity for women in construction.
• Housing First MinnesotasecondaryStrategic or Co-development PartnerHousing First Minnesota plays an important role in supporting residential builders, remodelers, developers, building industry suppliers, and associate members. TBG supports the organization to strengthen the residential construction sector.
• St. Thomas University Risk Management & Insurance ProgramminorStrategic or Co-development PartnerTBG sponsors St. Thomas University's RM&I Program to develop future industry leaders in insurance and risk management, mirroring TBG's commitment to the insurance industry.
• Minnesota Occupational HealthcoreStrategic or Co-development PartnerHealthcare partner that facilitated worker recovery and return to work in six months through strong relationships, demonstrating proactive approach to claims management.
• Summit OrthopediccoreStrategic or Co-development PartnerHealthcare partner specializing in orthopedic care that worked with TBG to facilitate rapid worker recovery and return to work for a bricklayer with back injury.
• USI Insurance Services, LLCcoreChannel Partner/ Reseller/ DistributorAgency partner in Bloomington, MN. Sean McBride, Partner and Vice President, highlighted TBG's commitment to safety, hands-on loss control, and top-tier claims service. TBG has been valuable for developing younger producers.
• Holmes Murphy and Associates LLCcoreChannel Partner/ Reseller/ DistributorAgency partner in St. Louis Park, MN. Mary Cave with 20+ years in insurance recommends TBG for attention to detail, monthly reporting, and proactive Risk Control and Safety team support.
• North Risk Partners, LLCcoreChannel Partner/ Reseller/ DistributorMulti-location agency partner serving Mendota Heights, St. Cloud, and Rochester, MN.
• Brown & Brown Insurance Services, Inc.coreChannel Partner/ Reseller/ DistributorAgency partner serving Minneapolis and North Mankato, MN.
• Choice Insurance (A Vizance Company)coreChannel Partner/ Reseller/ DistributorAgency partner in Golden Valley, MN. Colten Heagle, Insurance Advisor, discussed how TBG helps contractors create safer, more resilient workplaces. Ben Brunn shared how TBG helped a client reduce modification factor from 1.21 to 0.90.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Accident Fund Holdings: A workers' compensation specialist insurer serving multiple industries including construction. Comparable to TBG in pure workers' comp focus and safety-services bundling, though operating across multiple states and industries.
• Builders Mutual Insurance Company: A mutual insurance carrier exclusively focused on the construction industry, providing workers' compensation, general liability, and commercial auto coverage. Closely comparable to TBG in vertical specialization, mutual/member-owned orientation, and construction-only underwriting focus.
• Amerisure: A specialty commercial property and casualty insurer focused on construction, manufacturing, and healthcare, with significant workers' compensation exposure in construction. Comparable to TBG in its construction focus and integrated safety services offering.
• Zenith Insurance Company: A specialty workers' compensation carrier with deep construction industry exposure and integrated safety services. Directly comparable to TBG in workers' comp specialization and construction-vertical risk management.
• Texas Mutual Insurance Company: A Texas-based workers' compensation mutual insurer, the state's largest provider of workers' comp. Comparable to TBG in mutual structure, workers' comp specialization, and dividend distribution to policyholders, though serving multiple industries.

Broad incumbents

• Sentry Insurance: A large mutual insurance group offering workers' compensation, commercial auto, and property coverage, including significant construction industry exposure. Comparable to TBG in mutual structure and workers' comp offering, but with broader industry and geographic reach.
• The Hartford Financial Services Group: A major national insurance carrier offering workers' compensation among a broad commercial insurance portfolio including a strong middle-market construction segment. Comparable to TBG in serving construction employers, though as one of many lines and not construction-exclusive.

Others

• Associated Builders and Contractors (ABC): A national construction industry trade association that influences workers' comp policy and offers safety training resources to members. Comparable to TBG in its construction-industry focus, member-driven governance, and safety training mission, though it is an association rather than an insurance provider.

Regional players

• Workers' Compensation Fund (Washington State Fund): Washington State's state-run workers' compensation fund. Comparable to TBG in operating a self-insurance model with safety services and dividend/surplus-return mechanisms, but as a state agency rather than a member-owned nonprofit and limited to Washington.
• CompSource Mutual Insurance Company: An Oklahoma-based mutual workers' compensation carrier serving multiple industries in the Southwest. Comparable to TBG in mutual structure and pure workers' comp focus, though operating across multiple states and verticals.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 The Builders Group