Explorer Insurance

Name

Explorer Insurance

Legal name

Explorer Insurance Company

Website

https://explorer-insurance.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Explorer Insurance Company is a private member carrier within ICW Group Holdings; following its 2021 personal auto withdrawal, it now services legacy claims while operating within a group offering workers' compensation, commercial, and specialty coverage.

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Inland Marine Insurance (Transit, Equipment & Installation) (FSAJAHAB)

akta.pro secondary industry

Inland Marine / Personal Articles & Valuable Items Insurance (FSAJACAJ)

Keywords

• Workers compensation insurance
• Commercial insurance
• Commercial auto insurance
• General liability insurance
• Specialty casualty insurance

Headquarters

HQ city

Santa Clarita, California

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Workers' Compensation Insurance Premiums: Primary revenue stream from workers' compensation insurance policies sold through independent agents and brokers. Premiums are based on payroll reporting and risk classification.
2. Commercial Insurance Premiums: Revenue from commercial lines including Commercial Auto, Excess Liability, General Liability, Inland Marine, and Commercial Property insurance products.
3. Specialty Insurance Premiums: Revenue from specialty coverages including Excess Casualty, Catastrophe Insurance, and Alternative Risk Transfer products through ICW Specialty.
4. Assumed Reinsurance: ICW Re provides reinsurance solutions including quota share, aggregate stop loss, and excess of loss coverage for primary carriers, program writers (MGAs), and reinsurance carriers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

Explorer Insurance Company is a member company of ICW Group that underwrites and sells workers' compensation insurance as its primary product, alongside commercial coverages (Commercial Auto, General Liability, Excess Liability, Commercial Property, Inland Marine) and specialty products (Excess Casualty, Catastrophe, Alternative Risk Transfer). Policies are distributed through appointed independent insurance agents and brokers, with policyholders accessing service via the myResource portal and Safety OnDemand training platform included free with workers' compensation coverage.

Product overview

ICW Group Insurance Companies is a multi-line property and casualty insurance company operating through member companies including Insurance Company of the West, Explorer Insurance Company, and VerTerra Insurance. Explorer Insurance Company historically offered personal auto insurance but withdrew from that market in 2021. The company now focuses on workers' compensation insurance as its core product, supplemented by commercial coverages (Commercial Auto, General Liability, Excess Liability, Commercial Property, Inland Marine) and specialty products (Excess Casualty, Catastrophe Insurance, Alternative Risk Transfer). ICW Re provides assumed reinsurance solutions. Policyholders receive access to myResource digital portal with Safety OnDemand training, EZ-Pay billing, and EZ-Report payroll services included with workers' compensation policies.

Differentiator

Problem solved

Functional benefit

Products and services

• Workers' Compensation Insurance

Quantifiable outcome

• Reduce the number of lost workdays from occupational injuries up to 55%
• +4 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Promises2KidscoreStrategic or Co-development PartnerICW Group has partnered with the San Diego-based charity Promises2Kids for more than a decade. The partnership supports foster youth through volunteer work, fundraising, and annual giving campaigns where ICW Group matches team member donations. In 2023, ICW Group was named the charity's Corporate Volunteer of the Year.
• Return to Work Program Partner OrganizationsminorStrategic or Co-development PartnerICW Group partners with return to work program organizations to provide access to transitional employment opportunities with local non-profit agencies for injured workers who cannot be accommodated with modified duties. This solution is available at no additional cost as part of workers' compensation policy.

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Crum & Forster: Specialty P&C carrier with surplus lines, inland marine, and accident & health offerings through independent agents — comparable to ICW Specialty's excess casualty and alternative risk transfer products.
• AmTrust Financial Services: Workers' compensation-focused P&C carrier with strong SMB and specialty exposure, closely comparable to ICW Group's core workers' comp and small/mid-market commercial book of business.
• Employers Holdings: Pure-play workers' compensation carrier focused on small businesses, with a multi-state footprint and digital agent/policyholder platforms comparable to ICW Group's Agent Portal and myResource stack.
• Zenith Insurance Company: Specialized workers' compensation carrier with multi-state operations and focus on complex risk classifications — directly comparable to ICW Group's #14 NAIC-ranked workers' comp franchise.
• Sentry Insurance: Mutual P&C insurer with a strong workers' compensation franchise serving SMBs in similar industries (construction, manufacturing, retail), competing in adjacent geographies and product lines.

Broad incumbents

• The Hartford: Large national P&C carrier with a major workers' comp franchise for SMBs, serving the same small/mid-market commercial customer base as ICW Group and offering overlapping commercial auto, liability, and property products.
• Travelers: Largest US workers' comp writer and broad-line P&C incumbent, providing the upper bound benchmark for ICW Group's competitive positioning and agent-channel strategy.
• Chubb: Global P&C carrier with significant commercial lines, excess liability, and inland marine products that overlap with ICW Group's commercial and specialty offerings, though at much larger scale.
• Berkshire Hathaway Homestate Companies: Workers' compensation and commercial P&C arm of Berkshire Hathaway, operating in many of the same Western US states as ICW Group and offering similar commercial lines products.

Regional players

• Mercury General: California-based P&C carrier with personal and commercial auto lines, historically competing with Explorer Auto Insurance in the withdrawn personal auto segment and providing a regional benchmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/explorer-insurance

Revenue estimate

Valuation estimate

Number of profiles

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 Explorer Insurance