Esten & Richard Insurance

What Esten & Richard Insurance does

Esten & Richard Insurance (legal entity: Esten & Richard Agency Inc.) is a privately held insurance agency founded circa 1952 in Woonsocket, Rhode Island, providing personal and commercial insurance products to individual consumers and small-to-medium businesses in the New England market. Its product portfolio spans auto insurance, homeowners insurance, life insurance, personal umbrella insurance, and a business insurance program covering commercial liability, property, and industry-specific risks. The agency operates on a direct-to-consumer distribution model, with licensed producers (including Frank Richard as President and Tim Richard) handling personalized quoting, policy servicing, and claims support, primarily acquired through referrals and long-standing community reputation.

The business model is commission-based brokerage: revenue is earned as a percentage of premiums placed with carriers, with additional compensation tied to the volume and profitability of business written. Pricing is quote-based, varying by coverage type and individual risk profile, with monthly billing cadence. There is no standardized public pricing or subscription layer; revenue mechanics are tied to recurring policy renewals rather than SaaS-style contracts.

Since December 2022, Esten & Richard has operated as a division of World Insurance Associates LLC, a national insurance organization. The original physical office at 342 Park Ave, Woonsocket, RI is now closed, and servicing is delivered through World's broader infrastructure, including its website, the MyWorld Connect portal, and centralized customer-service channels. Headcount is in the 1-10 range, the agency has no disclosed funding history, and revenue is not publicly reported. The agency's core "technology" is therefore the standard agency-platform integration with World's systems rather than any proprietary stack.

Name

Esten & Richard Insurance

Legal name

Esten & Richard Agency Inc.

Website

https://estenandrichard.com

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

1–10 employees

Short description

Esten & Richard Insurance is a 70+ year-old Woonsocket, RI insurance agency that sells auto, home, life, business, and umbrella policies to individuals and SMBs via licensed producers, earning commission-based revenue. Since December 2022, it operates as a division of World Insurance Associates.

Ownership category

akta.pro rank

Headquarters

HQ city

Woonsocket

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Insurance Brokerage Commissions: Revenue generated through commissions on insurance policies placed with insurance carriers. Commissions are calculated as a percentage of premiums collected by insurers, with additional compensation based on volume and profitability of business placed.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Esten & Richard Insurance (Esten & Richard Agency Inc.) is an independent insurance brokerage that places personal and commercial insurance coverage with carriers on behalf of clients. The agency offers personal lines (auto, home, life, and personal umbrella insurance) and business insurance programs. The agency has operated for over 70 years and, since December 2022, has functioned as a division of World Insurance Associates LLC.

Product overview

Esten & Richard Agency Inc. is an insurance agency that offers a portfolio of personal and business insurance products. As a division of World Insurance Associates, they provide personal lines (Auto, Home, Life, and Personal Umbrella Insurance) and commercial business insurance coverage. The agency has been serving clients for over 70 years and focuses on protecting customer assets and financial well-being through comprehensive insurance programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance Vehicle insurance coverage protecting against financial loss from accidents, theft, or damage to automobiles; offered to individual drivers and vehicle owners.
• Business Insurance Commercial insurance coverage designed to protect small and medium-sized businesses from financial losses due to liability, property damage, and other business-specific risks.
• Home Insurance Homeowners insurance coverage protecting against damage to property and personal belongings, as well as liability coverage for accidents on the insured property; offered to individual homeowners.
• Life Insurance Financial protection product providing coverage to beneficiaries upon the policyholder's death, offering peace of mind and financial security for families.
• Personal Umbrella Insurance Excess liability coverage providing additional protection beyond the limits of standard auto, home, or watercraft insurance policies for individual policyholders.

Quantifiable outcome

• Customer retention evidenced by 7+ year client relationships

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• World Insurance AssociatescoreStrategic or Co-development Partner · 1 December 2022Esten & Richard Agency Inc. joined World Insurance Associates in December 2022, becoming a division of World Insurance. This partnership strengthens the agency's ability to provide comprehensive insurance coverage and service by leveraging World Insurance Associates' carrier relationships, resources, and national network while maintaining local market presence.

Scale indicators2 records

Recent moves3 records

Expansion highlights4 records

Direct peers

• LOOMIS Insurance Agency: New England-based independent insurance agency offering personal and commercial coverage through a producer-led model. Comparable as a small, family-influenced regional agency competing in adjacent Northeastern markets with similar relationship-driven GTM.
• Hilb Group: Mid-Atlantic and Southeastern insurance brokerage roll-up acquiring regional independent agencies. Comparable as a peer roll-up platform pursuing the same strategy of acquiring family-controlled agencies like Esten & Richard.
• Starkweather & Shepley Insurance: Rhode Island-based independent insurance brokerage offering personal and commercial lines. Highly comparable given shared Rhode Island geography, similar multi-line product mix, and overlap in target SMB and individual consumer segments.
• Cross Insurance: New England-headquartered (Maine-based) multi-line insurance agency serving personal and commercial clients across the region. Directly comparable as a regional independent agency competing in the same Northeastern market with a similar producer-driven model.

Broad incumbents

• Brown & Brown: Large publicly traded insurance brokerage and agency roll-up with strong Northeast presence. Comparable as a multi-line insurance intermediary generating commission-based revenue across personal and commercial segments.
• Hub International: North American insurance brokerage that acquires and operates regional independent agencies. Comparable as a roll-up incumbent with the same broker-of-record business model serving personal and commercial clients.
• Marsh McLennan: Global professional services firm with Marsh as a leading insurance brokerage and risk advisor. Comparable as a large incumbent broker offering the same multi-line insurance products through intermediary distribution.
• Acrisure: Large, rapidly growing insurance brokerage built through aggressive roll-up of independent agencies. Comparable as a competing roll-up acquirer pursuing the same strategy of integrating small regional agencies like Esten & Richard into a national platform.
• Arthur J. Gallagher: Global insurance brokerage and risk management services firm with significant retail brokerage operations. Comparable as a large incumbent broker competing for the same personal and commercial insurance customers via agency channels.
• World Insurance Associates: Esten & Richard's parent company and a large multi-line insurance brokerage roll-up. Comparable as the operating platform that owns Esten & Richard and provides carrier access, technology, and branding across its agency network.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xtwitter.com/worldinsur
• Facebookfacebook.com/worldinsur
• LinkedInlinkedin.com/company/world-insurance-associates-llc
• Instagraminstagram.com/worldinsuranceassociates

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Esten & Richard Insurance