Benchmark Financial Group
Benchmark Financial Group, LLC is an Oklahoma City-based independent insurance brokerage founded in 1985, representing 8 carriers and 75 products to deliver employee benefits, individual health insurance, and Medicare planning to Oklahoma businesses, families, and seniors.
- Company typePrivate
- Founded1985
- HeadquartersOklahoma City, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Benchmark Financial Group does
Benchmark Financial Group, LLC is a privately held, independent insurance brokerage headquartered at 2932 NW 122nd, Suite 19, Oklahoma City, Oklahoma. Founded in 1985 by Jim D. Duncan, the firm has operated continuously for 38+ years as a full-service insurance agency serving three customer segments in the Oklahoma market: businesses (primarily SMBs and municipal governments) seeking employee benefits and HR/compliance solutions, individuals and families seeking health insurance, and Medicare-eligible seniors seeking Medicare planning. The company represents 8 insurance carriers offering 75 products, with carrier relationships spanning BlueCross BlueShield of Oklahoma (BCBSOK), Aetna, Aflac, Delta Dental, MetLife, Guardian, Ameritas, VSP, Colonial Life, Assurity, and Kemper.
Benchmark Financial Group firmographics
Firmographics- Name
- Benchmark Financial Group
- Legal name
- Benchmark Financial Group, LLC
- Website
- https://benchmarkfinancial.com
- Company type
- Private
- Founded year
- 1985
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Benchmark Financial Group, LLC is an Oklahoma City-based independent insurance brokerage founded in 1985, representing 8 carriers and 75 products to deliver employee benefits, individual health insurance, and Medicare planning to Oklahoma businesses, families, and seniors.
- Ownership category
- akta.pro rank
Benchmark Financial Group industry classification
Industry- Product category
- Insurance Brokerage & Financial Advisory
- NAICS
- Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Employee Benefits Brokerage & Consulting (FSAEADAC)
- akta.pro secondary industries
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK), Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE), Group Disability Income Insurance (Employer-Sponsored) (FSAIAIAB)
Keywords
Where Benchmark Financial Group is headquartered
LocationHeadquarters
- HQ city
- Oklahoma City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Benchmark Financial Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Revenue model
- Insurance Commissions: Earns commissions from insurance carriers for policies placed. Represents 8 insurance organizations offering 75 products in their service area.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Insurance products - quote-based pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Benchmark Financial Group product offering
Product offeringCore offering
Benchmark Financial Group is an independent insurance brokerage and financial advisory firm that places employee benefit programs (group health, dental, vision, life, disability, voluntary benefits, 401(k), HR consulting, compliance) for Oklahoma businesses and Medicare/individual health insurance plans for Oklahoma consumers. As an appointed agent of 8 insurance carriers offering 75 products, it earns commissions by matching clients to carrier policies through consultation-based sales.
Product overview
Benchmark Financial Group is a full-service insurance brokerage and financial advisory firm offering a comprehensive portfolio of insurance products and financial services. The core offering consists of Employee Benefits Consulting (including health, dental, vision, life, disability, and voluntary benefits) and Medicare Planning solutions (Medicare Supplement, Medicare Advantage, and Prescription Drug Plans). The company also provides Individual & Family Health Insurance, Home Healthcare coverage, and specialized products including critical illness, accident, long-term care, short-term medical, telemedicine, and travel medical insurance. Supporting services include 401(k) and retirement planning, payroll services, Human Resources consulting, and Health Care Reform compliance solutions covering ERISA, COBRA, HIPAA, and related statutes. The product portfolio is distributed through 8 carrier relationships including BlueCross BlueShield of Oklahoma, Aetna, Delta Dental, MetLife, Guardian, VSP, Ameritas, Aflac, and others.
Differentiator
Problem solved
Functional benefit
Products and services
- Employee Benefits Consulting Comprehensive employee benefits consulting services for Oklahoma businesses and municipal governments, including insured and self-funded health plans, group life insurance, AD&D, dental, vision, cafeteria plans, voluntary benefits, and short/long-term disability coverage.
- Individual & Family Health Insurance Health insurance products for individuals and families in Oklahoma, including evaluation of current coverage and side-by-side comparisons of available plans across multiple carriers.
- Medicare Supplement Insurance Plans Supplemental insurance plans used with Original Medicare that cover the 20% gap in Medicare coverage, where Medicare pays 80% and the Supplement pays the remaining 20% of covered benefits for Medicare-eligible clients.
- Medicare Advantage Plans (Part C) All-in-one Medicare alternatives offered by private companies that bundle Part A (Hospital Insurance), Part B (Medical Insurance), and usually Part D prescription drug coverage for Medicare-eligible individuals.
- Medicare Prescription Drug Plans (Part D) Prescription drug coverage plans that add to Original Medicare, some Medicare Cost Plans, PFFS Plans, and Medicare Medical Savings Account Plans, with each plan having its own formulary where drugs are placed in different tiers.
- Home Health Care Benefits PLUS Policy allowing recuperation at home with a $600 annual prescription benefit, benefits paid directly to the policyholder in addition to existing coverage including Medicare, and no network restrictions or medical exam required.
- Compliance Solutions Health Care Reform (PPACA) planning and compliance services for employer clients covering ERISA, COBRA, HIPAA, USERRA, ADEA, and other applicable statutes.
- Wealth Management & Social Security Planning Financial planning services focused on retirement income planning, asset protection, long-term financial goals, and helping clients understand Social Security benefits and make informed decisions about when to claim them.
Companies that use Benchmark Financial Group
Customer profileSegments3 records
Ideal customer profiles3 records
Benchmark Financial Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Benchmark Financial Group partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and secondary.
- BlueCross BlueShield of Oklahoma (BCBSOK)corePrimary carrier partner. Benchmark Financial Group works very closely with BCBS of Oklahoma, offering their health insurance exchange plans. Provides Blue Cross Blue Shield products to individual and business clients.
- AetnacoreInsurance carrier partner providing health insurance products. Provider search available through Benchmark website.
- AflaccoreInsurance carrier partner offering supplemental insurance products including cancer, accident, and critical illness coverage.
- Delta DentalcoreDental insurance carrier partner. Provider search available. Delta Dental Oklahoma-specific enrollment portal integrated.
- MetLifecoreInsurance carrier partner providing dental, vision, and other insurance products. Provider locator available.
- GuardiancoreInsurance carrier partner offering dental, vision, and life insurance products through Benchmark.
- AmeritascoreInsurance carrier partner. Provider search integrated on Benchmark website.
- VSPcoreVision insurance carrier partner. Provider search available for eye doctors.
- ColonialLifesecondaryInsurance carrier partner offering voluntary benefits and cancer/intensive care insurance.
- AssuritysecondaryInsurance carrier partner offering life and disability insurance products.
- KempersecondaryInsurance carrier partner offering supplemental insurance products.
Scale indicators2 records
Recent moves6 records
Expansion highlights4 records
Benchmark Financial Group competitors and assessment
Company assessmentDirect peers
- Higginbotham: Independent insurance brokerage firm providing employee benefits, property/casualty, and personal lines to businesses. Comparable independent broker model with multi-carrier representation, serving employer clients similarly to Benchmark.
- Holmes Murphy & Co. Midwest-based independent insurance brokerage specializing in employee benefits, risk management, and compliance consulting. Comparable full-service benefits advisory firm targeting mid-market employers.
- Brown & Brown Insurance: Large independent insurance brokerage providing employee benefits, property/casualty, and personal insurance through multiple carrier relationships. Comparable multi-carrier broker model serving businesses and individuals.
- Bankers Life: National insurance agency focused on Medicare Supplement, Medicare Advantage, and supplemental health products for seniors. Comparable Medicare planning and supplemental insurance distribution to Medicare-eligible clients.
- OneDigital Health and Benefits: Large national benefits broker offering employee benefits, Medicare, and HR consulting to mid-market employers. Operates in the same employee benefits brokerage space as Benchmark, though at significantly greater scale across multiple geographies.
Broad incumbents
- HUB International: Global insurance brokerage providing employee benefits, personal lines, and commercial insurance through regional offices. Comparable multi-carrier broker model for businesses and individuals.
- USI Insurance Services: Top-10 U.S. insurance brokerage offering employee benefits, property/casualty, and risk management across all 50 states. Comparable employee benefits and Medicare advisory offerings but at national scale.
- Marsh McLennan Agency: Mid-market division of Marsh McLennan offering employee benefits, risk management, and consulting. Comparable employee benefits advisory model but operating nationally with substantially more resources.
- CBIZ Benefits & Insurance Services: National professional services firm providing employee benefits brokerage, HR consulting, and compliance services to mid-market employers. Comparable benefits consulting and compliance advisory offerings.
Emerging players
- SelectQuote Insurance Services: Direct-to-consumer insurance distribution platform specializing in Medicare, life, and senior health products. Comparable Medicare and supplemental insurance offerings but through a digital, scaled model rather than a local advisory firm.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key highlights6 records
Customer concentration
Benchmark Financial Group social profiles
Digital presenceBenchmark Financial Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Benchmark Financial Group leadership team
Management profileNumber of profiles
Profiles3 records
Benchmark Financial Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Benchmark Financial Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Benchmark Financial Group
What does Benchmark Financial Group do?
Benchmark Financial Group is an independent insurance brokerage and financial advisory firm that places employee benefit programs (group health, dental, vision, life, disability, voluntary benefits, 401(k), HR consulting, compliance) for Oklahoma businesses and Medicare/individual health insurance plans for Oklahoma consumers. As an appointed agent of 8 insurance carriers offering 75 products, it earns commissions by matching clients to carrier policies through consultation-based sales.
Is Benchmark Financial Group a public or private company?
Benchmark Financial Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Benchmark Financial Group founded?
Benchmark Financial Group was founded in 1985. It employs 1 to 10 people.
Where is Benchmark Financial Group based?
Benchmark Financial Group is headquartered in Oklahoma City, United States, in the North America region.
How does Benchmark Financial Group make money?
One revenue line is on record: insurance Commissions.
Who are Benchmark Financial Group's main competitors?
Direct peers on record are Higginbotham, Holmes Murphy & Co., Brown & Brown Insurance, Bankers Life and OneDigital Health and Benefits. Broad incumbents are HUB International, USI Insurance Services, Marsh McLennan Agency and CBIZ Benefits & Insurance Services. SelectQuote Insurance Services is listed as an emerging player.
Does Benchmark Financial Group have an API?
No public API is recorded for Benchmark Financial Group.
What industry is Benchmark Financial Group in?
Benchmark Financial Group's product category is Insurance Brokerage & Financial Advisory. Its primary akta.pro industry code is FSAEADAC, Employee Benefits Brokerage & Consulting, with a secondary code of HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA). Its NAICS code is 524210 and its SIC code is 6411.