Island Insurance Group

What Island Insurance Group does

Island Insurance Group is an independent insurance agency founded in 2018 and headquartered in North Miami Beach, Florida, operating primarily in South Florida (Miami-Dade, Broward, and Palm Beach counties) with stated nationwide reach. The agency distributes personal and commercial insurance lines across business insurance (general liability, commercial property, workers' compensation, business interruption, commercial auto), cyber liability, medical malpractice, high-risk auto, standard auto, home, life, health, pet, and travel coverage, representing multiple carriers including GEICO, Bristol West, and National General (Allstate). Revenue is generated through standard insurance broker commissions on new and renewal policies, supplemented by referral fees from an Arkay Auto Warranty partnership for vehicle service contracts (Bronze, Gold, Platinum tiers).

The company differentiates through two proprietary digital tools: ContractRiskFinder, an AI-powered contract analysis platform that scans PDF/Word/text documents for hidden legal exposures, financial traps, and operational hazards, and a free Business Insurance Assessment Tool that generates 0-100 risk scores with coverage recommendations. A 23-plus-page educational blog and free assessment tools serve as top-of-funnel content marketing assets, while 30-minute Calendly-based consultations with founder Samuel Bennett provide bottom-of-funnel conversion. Distribution remains primarily direct via the licensed agent, supplemented by referral partnerships with managed cybersecurity service providers and a 2024 travel-insurance collaboration with Aviasales.

The business model is commission-driven and relationship-based rather than technology-led, with the AI tool representing a secondary product line rather than the core revenue engine. Operations are founder-led with a small support team, and there is no disclosed external funding, parent company, or M&A activity. Geographic concentration in Florida creates both depth (local expertise, regulatory familiarity) and concentration risk (hurricane exposure, regional economic sensitivity).

Name

Island Insurance Group

Legal name

Island Insurance Group

Website

https://islandinsurancegroup.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Island Insurance Group is an independent South Florida insurance agency distributing personal and commercial coverage through multiple carriers (GEICO, Bristol West, National General), augmented by an AI contract analysis tool and digital risk assessment tools, serving SMBs, professionals, and individuals in Florida with claimed nationwide reach.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industries

Individual Health Insurance Brokerage & Distribution (FSAIAEAL), Medicare Plan Distribution & Brokerage (Captive, Independent, FMOs) (FSAIAGAH)

Keywords

• Commercial insurance brokerage
• Business insurance coverage
• Cyber liability insurance
• Medical malpractice insurance
• High-risk auto insurance

Headquarters

HQ city

Aventura

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, Technology or R&D, Others

Revenue model

1. Insurance Broker/Agency Commissions: As an insurance agency, Island Insurance Group earns commissions from insurance carriers for policies sold. They represent multiple carriers (GEICO, Bristol West, National General, Arkay Auto Warranty) and offer products across business insurance, cyber liability, medical malpractice, auto, home, life, and health insurance. Revenue comes from commissions on new policy sales and renewals.
2. Auto Warranty Referral Fees: Month-to-month auto warranty plans administered by Arkay Auto Warranty. Island Insurance Group earns referral compensation for connecting customers to Arkay's vehicle service contracts. Plans include Bronze, Gold, and Platinum tiers with varying coverage levels.
3. ContractRiskFinder AI Tool: AI-powered contract analysis tool. While pricing information is not clearly listed on the website, the tool appears to offer free trials or subscription plans for contract risk scanning services. Revenue model may include subscription tiers or per-scan fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Island Insurance Group is an independent insurance agency in South Florida that sells and brokers personal and commercial insurance products—including business insurance, cyber liability, medical malpractice, standard and high-risk auto, homeowners, life, health, and pet coverage—through multiple carriers such as GEICO, Bristol West, National General, and Arkay Auto Warranty. The brokerage is augmented by two proprietary digital tools: ContractRiskFinder, an AI-driven contract risk analysis platform, and a free Business Insurance Assessment Tool that generates risk scores and tailored coverage recommendations.

Product overview

Island Insurance Group is an insurance agency offering a broad portfolio of insurance products and decision-support tools. The core offering spans business insurance (general liability, commercial property, workers' comp, cyber liability, commercial auto), personal insurance (auto, home, life, health, pet), and specialized coverage (medical malpractice, high-risk auto). The company differentiates through two proprietary digital tools: ContractRiskFinder, an AI-powered contract risk analysis platform for scanning PDF/Word/text documents, and a Business Insurance Assessment Tool for risk scoring. The product architecture combines direct insurance products with referral-based services (auto warranty, managed cybersecurity) and technology-enabled guidance tools.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Insurance
• Cybersecurity Insurance Cyber liability coverage addressing ransomware, data breaches, business interruption, regulatory defense, and third-party liability for businesses, paired with referral access to managed cybersecurity services to meet underwriting controls (MDR, EDR, SD-WAN).
• Medical Malpractice Insurance Coverage guidance for physicians, surgeons, and healthcare practices covering claims-made policies, tail coverage, and liability structure for medical professionals.
• High-Risk Auto Insurance Non-standard auto insurance for drivers with complex histories (tickets, accidents, lapses, DUI, SR-22, FR-44), placed through Bristol West and National General.
• Standard Auto Insurance Traditional auto coverage for eligible drivers through GEICO including liability, collision, comprehensive, and UM/UIM options.
• Auto Warranty Plans Vehicle service contracts through partner Arkay Auto Warranty offering month-to-month protection with three tier levels (Bronze, Gold, Platinum), no mileage limits, and 24/7 roadside assistance.
• Life Insurance Various life insurance products including term, whole, universal, final expense, no-exam policies, and coverage options for seniors over 70.
• Health Insurance Health coverage options including individual, family, Medicare, dental, vision, long-term care, and travel health insurance.
• Homeowners Insurance Property coverage for homeowners including disaster recovery insurance options.
• Pet Insurance Coverage for pets including dog insurance with routine care and alternative therapy options.
• Business Insurance Assessment Tool Free online risk assessment tool that evaluates business insurance needs through questions about operations, risks, and goals to deliver customized insurance recommendations and 0–100 risk scores.
• ContractRiskFinder AI-powered contract analysis platform that uses deep learning to scan PDF, Word, and text contracts to identify hidden legal exposures, financial traps, indemnity language, insurance requirements, renewal traps, and operational hazards before signing. Uploads are encrypted and deleted after processing.

Quantifiable outcome

• Over $40 million in claims paid by auto warranty partner Arkay Auto Warranty
• +1 more outcomes

Named customers2 records

Segments9 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor, core and supporting.

• AviasalesminorGTM or Marketing Partner · 30 January 2024Travel insurance partnership announced January 2024. Aviasales is a travel booking platform. Partnership aimed at providing travel insurance options to customers booking travel through Aviasales.
• GEICOcoreChannel Partner/ Reseller/ DistributorGEICO provides standard auto insurance options for eligible drivers with clean or typical driving records. Island Insurance Group serves as independent agent/broker offering GEICO products alongside other carrier options for comparison.
• Bristol WestcoreChannel Partner/ Reseller/ DistributorBristol West specializes in high-risk auto insurance for drivers with complex histories including tickets, accidents, DUI, SR-22/FR-44 requirements. Island Insurance Group offers Bristol West products to customers not eligible for standard markets.
• National General (Allstate Company)coreChannel Partner/ Reseller/ DistributorNational General offers flexible underwriting through an Allstate company for drivers with varied risk profiles. Provides alternative options when standard or high-risk markets decline coverage.
• Arkay Auto WarrantycoreChannel Partner/ Reseller/ DistributorArkay Auto Warranty administers vehicle service contracts covering repairs after factory warranty ends. Plans include Bronze (engine/transmission), Gold (adds A/C, brakes, steering), and Platinum (adds electrical/tech) tiers with month-to-month flexibility. Island Insurance Group earns referral compensation for customer placements.
• ContractRiskFinder (Own Product)coreTechnology or IntegrationProprietary AI-powered contract analysis platform using deep learning to scan PDF, Word, and text contracts. Identifies hidden legal exposures, financial traps, and operational hazards. Uploads encrypted and deleted after analysis.
• Managed Cybersecurity Service ProviderssupportingGTM or Marketing PartnerVetted managed cybersecurity service providers offering MDR (Managed Detection & Response), EDR (Endpoint Detection & Response), and Secure Access/SD-WAN solutions. Referral relationships help strengthen customer security posture for insurance underwriting requirements. Disclosure: Island Insurance Group may receive referral compensation from technology providers.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Higginbotham Insurance: Independent insurance brokerage serving businesses and individuals across the South and Southwest US with multi-carrier access and consultative service model. Closest comparable in operating model and target market.

Broad incumbents

• Brown & Brown Insurance: Large publicly traded independent insurance brokerage with broad P&C, benefits, and specialty operations. Comparable as a multi-carrier independent agency model, though at vastly larger scale and with national/international reach.
• Marsh & McLennan Agency: Large brokerage serving mid-market and SMB clients across P&C, benefits, and specialty lines including cyber and professional liability. Overlaps significantly on cyber and medical malpractice placement.
• GEICO: Major direct-to-consumer auto insurer and one of Island's core carrier partners. Comparable as auto insurance distribution channel serving Florida drivers, including the standard-risk segment Island routes through GEICO.
• Hiscox Insurance: Specialty insurer/broker with deep cyber liability and professional lines expertise, often cited in Florida cyber and small business malpractice markets. Comparable on cyber and professional liability product focus.

Emerging players

• Insureon: Digital-first commercial insurance brokerage specializing in small business coverage including general liability, cyber, and professional lines. Direct competitor in the Florida SMB cyber and business insurance segment.
• Next Insurance: Tech-enabled small business insurance carrier/broker offering GL, workers' comp, professional liability, and commercial auto online. Competes for the same Florida SMB customer with digital-first experience.
• Simply Business: Online commercial insurance brokerage targeting small business owners with quick-bind digital experience. Comparable on product mix (BOP, GL, professional liability) and SMB target customer.
• Coterie Insurance: API-driven small commercial insurance platform focused on BOP, GL, and cyber for SMBs. Comparable in using technology to simplify small business insurance buying, though operating as a platform rather than traditional agency.

Regional players

• Frankenmuth Insurance: Mutual insurance carrier offering personal and commercial lines through independent agents across the Midwest and Southeast. Comparable as a multi-line carrier partner to independent agencies, though regionally focused outside Island's Florida market.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/islandinsu1975
• Facebookfacebook.com/100090928660292
• LinkedInlinkedin.com/company/island-insurance-group

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 Island Insurance Group