IBP Insurance Brokers

What IBP Insurance Brokers does

IBP Insurance Brokers, LLC is a privately held, independent insurance brokerage founded in 2013 by Michael Permetti (a Texas A&M graduate) and headquartered in Flower Mound, Texas. The firm operates as a client-representing intermediary rather than a captive carrier agent, with a mission to educate clients about insurance coverage and help them make informed protection decisions. IBP serves individuals, families, and small-to-medium business owners primarily within a Texas regional footprint, with all client acquisition and servicing conducted through direct phone and email channels.

The brokerage offers a six-product portfolio spanning homeowners, auto, recreational vehicles (motorcycles, boats, trailers, RVs, ATVs), commercial/business, condo and renters, and life insurance. It places business through a multi-carrier roster that includes Allstate, Progressive, Nationwide, Mercury, Safeco, American Modern, and AEGIS Security Insurance Company, enabling cross-carrier comparison. Pricing is individualized and quote-based, with no public rate cards; customers are routed to the principal agent or client services team for quotes, policy changes, and claims assistance.

Revenue is generated through standard insurance brokerage commissions paid by carriers on policies placed on behalf of clients (a transaction-fee revenue model). The firm employs 11–50 people, has no disclosed institutional investors, no parent company, no app or API products, and minimal digital marketing presence beyond its ibptx.com website and a planned newsletter. Operating geographies are limited to Texas, with no disclosed expansion ambitions beyond the existing regional market.

Name

IBP Insurance Brokers

Legal name

IBP Insurance Brokers, LLC

Website

https://ibptx.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

IBP Insurance Brokers is a privately held, Texas-based independent insurance brokerage founded in 2013 that represents clients (not carriers) across homeowners, auto, recreational, commercial, condo/renters, and life insurance via direct phone/email contact and multiple carrier partnerships.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

akta.pro secondary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

Keywords

• Insurance brokerage
• Personal insurance solutions
• Home and auto insurance
• Commercial insurance coverage
• Independent insurance agent

Headquarters

HQ city

Flower Mound

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: IBP Insurance Brokers acts as an independent insurance broker representing clients (not insurance providers). The company earns revenue through commissions paid by insurance carriers for policies placed on behalf of clients. This is a standard insurance brokerage model where the broker serves as an intermediary between insurance buyers and insurance companies.

Pricing tiers

Distribution channels1 record

Marketing channels3 records

Core offering

IBP Insurance Brokers is an independent insurance brokerage that places policies on behalf of clients with multiple insurance carriers. The firm sells and advises on homeowners, auto, recreational vehicle, commercial, condo/renters, and life insurance coverage. As an independent broker, the firm represents the client (not the insurer) and earns commissions from carriers for policies placed.

Product overview

IBP Insurance Brokers is an independent insurance brokerage offering a portfolio of insurance products through multiple carrier partnerships. The company provides six core insurance products: Homeowners, Auto, Recreational (motorcycle, boat, trailer, RV, ATV, specialty), Commercial, Condo & Renters, and Life insurance. As an independent broker, they represent clients rather than insurance providers, working with multiple insurance carriers including AEGIS Security Insurance Company, Allstate, American Modern, and others to find competitive rates and appropriate coverage levels for each client's needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Insurance
• Auto Insurance
• Recreational Insurance
• Commercial Insurance
• Condo & Renters Insurance
• Life Insurance

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor.

• AEGIS Security Insurance CompanyminorChannel Partner/ Reseller/ DistributorInsurance carrier partnership. IBP Insurance Brokers represents AEGIS Security Insurance Company as one of their carrier partners, offering their insurance products to clients. The company maintains relationships with multiple insurance carriers to provide competitive options.
• AllstateminorChannel Partner/ Reseller/ DistributorInsurance carrier partnership. Allstate is one of the insurance carriers represented by IBP Insurance Brokers, providing auto, home, and other insurance products through the brokerage.
• American ModernminorChannel Partner/ Reseller/ DistributorInsurance carrier partnership. American Modern is one of the carrier partners listed on the IBP Insurance Brokers website, specializing in specialty insurance products.
• Mercury InsuranceminorChannel Partner/ Reseller/ DistributorInsurance carrier partnership. Mercury Insurance is one of the insurance carriers represented by IBP Insurance Brokers.
• NationwideminorChannel Partner/ Reseller/ DistributorInsurance carrier partnership. Nationwide is one of the insurance carriers represented by IBP Insurance Brokers for various insurance products.
• ProgressiveminorChannel Partner/ Reseller/ DistributorInsurance carrier partnership. Progressive is one of the insurance carriers represented by IBP Insurance Brokers.
• SafecominorChannel Partner/ Reseller/ DistributorInsurance carrier partnership. Safeco is one of the insurance carriers represented by IBP Insurance Brokers.

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Allstate: Large national P&C carrier with captive and independent-agent distribution — a competing channel that also appears as one of IBP's carrier partners, illustrating the dual role incumbents play as both competitor and supplier.
• State Farm: The largest US personal-lines insurer, distributing predominantly through captive agents — competes head-to-head for the same homeowners/auto households IBP targets but with unmatched brand spend and pricing data.
• Progressive: Major direct and agent-distributed auto insurer; also a disclosed carrier partner of IBP. Competes for the same auto-anchored households while operating a powerful direct-to-consumer digital channel that pressures broker economics.
• GEICO: Largest US direct auto insurer with a self-service digital quote-to-bind flow — represents the structural direct-to-consumer threat that erodes the value proposition of small independent brokers like IBP.

Emerging players

• The Zebra: Insurance comparison marketplace aggregating multiple carriers for instant online quotes — directly substitutes for the broker-shopping step IBP performs manually, particularly for price-sensitive shoppers.
• Lemonade: Insurtech challenger using an AI-driven digital flow for renters and homeowners — targets the same younger, mobile-first demographic that IBP's phone-and-email model struggles to reach.
• SmartFinancial: Digital independent insurance agency platform with multi-carrier comparison and online bind capability — competes directly with small local independents on speed and price transparency while retaining the multi-carrier distribution model.

Direct peers

• Goosehead Insurance: Independent personal-lines insurance brokerage representing multiple carriers across home, auto, and other personal lines — closely matching IBP's multi-carrier, advisory-positioned brokerage model, though at substantially greater scale.
• Brightway Insurance: Franchise-based independent insurance agency distributing home, auto, and commercial products across multiple carriers — comparable independent brokerage model with multi-carrier appointments that competes for the same SMB and household customer.
• TWG Insurance: Texas-based independent insurance agency offering personal and commercial lines through multiple carriers — direct geographic and product overlap with IBP's Texas-focused independent brokerage.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 IBP Insurance Brokers