Elmwood Agency

What Elmwood Agency does

Elmwood Agency is an independent, privately held insurance agency founded in 2019 by Nicholas Pagano and headquartered in Rochester, New York, with a second office in Amherst (Buffalo). It sells personal and commercial insurance through licensed agents who can place business with over 30 insurance carriers (Travelers, Chubb, Progressive, Nationwide, Erie, Mercury, Hanover, Hanover, Plymouth Rock, etc.), allowing it to shop and bundle across markets rather than acting as a captive agent. The product catalog spans homeowners, auto, renters, condo, landlord/investment property, motorcycle, boat, RV, ATV, umbrella, life, Medicare Advantage/Supplement, commercial business (BOP, commercial auto, cyber liability, workers' comp), pet, voluntary benefits, and employee benefits, with adjacent financial-planning services delivered through a partnership with MML Investors Services.

Operations run on Applied Epic as the core agency management platform, complemented by an online quote engine, a third-party client portal, and branded iOS/Android mobile apps that let policyholders manage accounts and request service. Distribution is sales-led and multi-channel: in-person consultations at the two offices, phone-based sales and service, online quote requests, and a referral program that pays a $10 Amazon gift card per qualified lead. The agency is licensed in New York, Florida, and Texas, and serves individuals, families, landlords, small-to-large businesses, Medicare beneficiaries, and employers seeking group benefits.

Revenue is generated almost entirely through commissions paid by carriers on bound and renewed policies, with agents also eligible for override commissions and volume-based incentives. Growth has been organic and consolidation-driven: in October 2021, Elmwood merged with Oasis Group & Associates (Buffalo), after which the combined firm positioned itself as the fastest organic growing insurance agency in New York State, supported by sustained hiring (frequent Account Manager and Sales Producer additions into 2025-2026) and expansion into adjacent products such as voluntary benefits and financial planning.

Name

Elmwood Agency

Legal name

Elmwood Agency

Website

https://elmwoodagency.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Elmwood Agency is a privately held, independent insurance agency founded in 2019 and based in Rochester, NY, with a second office in Buffalo. It places personal, commercial, Medicare, and benefits coverage with 30+ carriers through licensed agents across NY, FL, and TX.

Ownership category

akta.pro rank

Product category

Insurance Services

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Independent insurance agency
• Personal insurance coverage
• Commercial business insurance
• Medicare insurance assistance
• Life and financial planning

Headquarters

HQ city

Elma

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: As an independent insurance agency, Elmwood Agency generates revenue primarily through commissions paid by insurance carriers for policies sold and renewed. Agents receive override commissions and volume-based incentives from multiple carrier partnerships.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Elmwood Agency is an independent insurance agency that sells personal lines (home, auto, renters, condo, landlord, umbrella, motorcycle, boat, RV, ATV, life, pet, Medicare) and commercial lines (business liability, commercial property, BOP, commercial auto, cyber, workers' comp, employee benefits) through licensed agents who place coverage with multiple insurance carriers. The agency earns commissions from carriers and provides ongoing policy service, claims support, and financial planning services to clients across New York, Florida, and Texas.

Product overview

Elmwood Agency is an independent insurance agency offering a comprehensive portfolio of insurance and financial services. The company provides personal insurance products (Homeowners, Auto, Umbrella, Renter's, Condo, Motorcycle, Boat, RV, ATV/Off-Road, Medicare, and Life Insurance), commercial insurance (Business Liability, Property, BOP, Commercial Auto, Cyber Liability, Workers' Compensation), and supplementary products (Pet, Voluntary Benefits, Employee Benefits). Additionally, the agency offers Financial Planning services including Tax Planning, Risk Management, Investment Planning, and Estate Planning. The agency operates through licensed agents who work with multiple insurance carriers to match customers with appropriate coverage. The company was founded in 2019 and merged with Oasis Group & Associates in 2021, now operating offices in Rochester and Buffalo, NY.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Insurance
• Auto Insurance Vehicle insurance coverage for drivers of all experience levels, helping find affordable rates based on age, profession, vehicle type, and driving habits. For individual drivers in NY and TX.
• Umbrella Insurance Supplemental liability coverage that extends beyond traditional homeowner and auto policy limits, providing financial protection from property damage and personal injuries.
• Renter's Insurance Coverage for renters of apartments, condos, and single-family homes protecting against theft, disaster, and unforeseen events.
• Condo Insurance Insurance coverage for condo owners to protect their unit and personal belongings, with assistance understanding association coverage limitations.
• Landlord & Investment Property Insurance Coverage for landlords and rental property owners including multi-unit apartments, vacation rentals, long-term rentals, Airbnb, and house-flipping properties.
• Motorcycle Insurance Insurance coverage for motorcycles including policies for new riders, lifelong enthusiasts, antique bikes, and high-end motorcycles with 6 or 12-month options.
• Boat Insurance Coverage for boats and personal watercraft including pontoons, yachts, ski boats, and PWCs protecting against theft, accidents, and natural events.
• RV Insurance Protection for recreational vehicles including motorhomes, campers, fifth-wheels, park models, and luxury buses against theft, accidents, and acts of nature.
• ATV & Off-Road Vehicles Insurance Coverage for ATVs, motocross, and specialty off-road vehicles with seasonal and year-long coverage options.
• Medicare Insurance Medicare coverage assistance including Medicare Advantage Plans, Prescription Drug Plans, and Supplement Insurance (Medigap) with personalized consultations and enrollment support. For individuals age 65+ or with qualifying disabilities.
• Life Insurance Various life insurance products including Term Life, Whole Life, Universal Life, Variable Life, No Medical Exam, and Group Life for employees.
• Commercial Business Insurance Business coverage including Business Liability, Commercial Property, Business Owners Policy (BOP), Commercial Auto, Umbrella, Cyber Liability, and Workers' Compensation. For small to large business owners.
• Pet Insurance Insurance for dogs and cats covering accident and illness treatment expenses with flexible annual limits, deductibles, and reimbursement options, starting around $10/month.
• Voluntary Benefits Employer-sponsored benefits including Life Insurance, Dental & Vision, Homeowners, Long-term Care, Medicare, Short/Long-term Disability, Auto, Supplemental Insurance, and Pet Insurance.
• Employee Benefits Group health plan management services including employee health insurance, Medicare, combination group plans, HSA/HRA, COBRA, and dental/vision/life benefits.
• Financial Planning Financial advisory services including Tax Planning, Risk Management, Investment Planning, Retirement Income Planning, Estate Planning, and Business Succession Planning, provided through MML Investors Services.

Quantifiable outcome

• 4.9 out of 5.0 Google rating based on 877 reviews

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Insurance Carrier PartnerscoreChannel Partner/ Reseller/ DistributorElmwood Agency partners with over 30 insurance carriers including AAA, AMIG, AmWINS, Chautauqua Patrons, Chubb, CMF Group, Dryden Mutual, Erie Niagara, Farmers Insurance, Foremost, Genesee, Greene and Associates, Guardian, Hagerty, Hanover, Hudson, JC Taylor, Leatherstocking, LM Insurance, Main Street America, Mercury, National General, Nationwide, NYCM, Pearl Insurance, Plymouth Rock, Progressive, Risk Placement Services, RLI, Ryan Specialty, Security Mutual, Shelterpoint, Sterling Insurance, Travelers, UNIG, and Wayne Cooperative to offer diverse insurance products to their clients.
• Secure24 ADT SecurityminorGTM or Marketing PartnerPreferred vendor offering ADT Security Systems with Elmwood Agency preferred pricing. Secure24 provides home security solutions with special pricing for Elmwood Agency clients.
• Glass AmericaminorGTM or Marketing PartnerAuto glass repair preferred vendor serving all of New York State with phone number 1-877-734-6680 for Elmwood Agency clients needing glass repair services.
• Standard Property ManagementminorGTM or Marketing PartnerProperty management preferred vendor serving the Buffalo area with contact at 716-934-6000 for landlord and property investor clients.
• Gallagher Property ManagementminorGTM or Marketing PartnerProperty management preferred vendor serving the Rochester area with contact at 585-235-4337 for landlord and property investor clients.
• Vision Financial GroupcoreStrategic or Co-development PartnerFinancial services partnership providing life insurance, disability insurance, long-term care, and protection-based planning tools through Dennis Behr and Carrie Hardy at Elmwood Agency.
• Colonial Voluntary BenefitscoreStrategic or Co-development PartnerVoluntary benefits partnership offering accident insurance, cancer/specified disease insurance, and other worksite benefits through Carrie Hardy at Elmwood Agency.
• MML Investors ServicescoreStrategic or Co-development PartnerSecurities and investment advisory services partnership offering tax planning, risk management, investment planning, retirement income planning, estate planning, and wealth transfer through qualified registered representatives at MML Investors Services, LLC. Member SIPC. OSJ located at 700 Bausch and Lomb Pl, Rochester, NY 14604, 585-262-5600.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Hub International: One of the largest North American insurance brokerages, offering personal, commercial, and employee benefits through an agency/brokerage model. Relevant incumbent comparable to Elmwood on the brokerage/distribution model, though at vastly greater scale and geographic reach.
• GEICO: Direct-to-consumer personal-lines carrier and the most aggressive price-led competitor in Elmwood's core auto/home market. Many of Elmwood's account managers and service staff come from GEICO, making it both a competitive and labor-market reference point.
• State Farm: Largest US personal-lines carrier with an exclusive agent (captive) model. Direct competitor to Elmwood for home, auto, and life customers in Western NY, representing the captive channel that Elmwood's independent model is positioned against.
• Brown & Brown: Public national insurance brokerage that has grown through both organic and acquisition strategies across personal and commercial lines. Comparable distribution model to Elmwood's, with vastly larger scale.
• Erie Insurance: Regional insurance carrier that distributes primarily through independent agents in the Eastern US. Highly comparable carrier-partner archetype for Elmwood — one of its competitors in the independent channel and a structural analog for the agency-carrier relationship.
• Allstate: Large national personal-lines carrier distributed primarily through captive agents. Competes with Elmwood for the same personal-lines customers via a different (captive) distribution model, and is a major source of talent for Elmwood's producer ranks.

Direct peers

• Goosehead Insurance: Public independent personal-lines insurance agency that places coverage through multiple carriers. Highly comparable business model to Elmwood's independent multi-carrier agency approach, with a focus on customer experience and bundling.
• Brightway Insurance: Franchise-model independent insurance agency offering personal, commercial, and specialty lines through multiple carriers. Comparable to Elmwood in independent agency structure, multi-carrier placement, and personal/commercial product mix.
• World Insurance Associates: Public independent insurance brokerage that has grown aggressively through acquisitions of personal and commercial lines agencies. Directly comparable to Elmwood's organic growth + acquisition playbook and product breadth.
• Insurance Office of America: Large privately held independent insurance agency offering personal, commercial, and employee benefits through multiple carriers. Comparable in product breadth (including employee benefits like Elmwood's voluntary benefits offering) and independent agency model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/elmwoodagency
• LinkedInlinkedin.com/company/elmwood-agency-corp

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&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elmwood Agency