Associated Risk Managers of Illinois

What Associated Risk Managers of Illinois does

Associated Risk Managers of Illinois is a member-owned cooperative network of 20 independent insurance agencies operating in Illinois, established in 1974 as a regional affiliate of Associated Risk Managers International (ARMI), the parent organization founded in 1970. The organization serves as a wholesale aggregator and program sponsor for its member agencies, pooling collective buying power to access specialty insurance markets, proprietary underwriting programs, and carrier relationships that individual independent agents could not obtain independently. Its flagship offering is the Prairie State Insurance Cooperative (PSIC), which provides property/casualty coverage to 219 K-12 school district members and workers' compensation coverage to 178 members across Illinois, supplemented by the PPP for Dentists specialty program and cross-network access to ARM International Programs.

The business model rests on three core revenue mechanics: member agency dues and participation fees for network affiliation, commission overrides on proprietary programs like PSIC and PPP for Dentists, and negotiated carrier/wholesale arrangements with Arthur J. Gallagher (co-brokerage), RPS and Arlington Roe (wholesale), and capacity providers including Chubb, AIG, American Modern, and Iroquois. Technology infrastructure is outsourced to standard industry vendors (Vertafore, Applied Systems for agency management; Gallagher Bassett for claims), with no proprietary platform or AI-driven capabilities disclosed. Nationally, ARMI encompasses 130+ member agencies generating in excess of $3.5 billion in property and casualty premium volume, lending Illinois members scale advantages in carrier negotiations despite the Illinois entity itself operating with a thin central staff of 1-10 employees under Executive Director Craig Payan and Office Manager/Corporate Secretary Barb Amft.

The go-to-market approach targets independent insurance agency principals seeking specialty market access and program affiliation rather than direct insurance buyers. Member agencies retain client ownership while ARM of Illinois provides back-office program administration, carrier access, and risk management support. Geographic concentration is wholly Illinois, with operational presence in St. John, Indiana and Riverdale, Illinois. The entity is privately held and member-owned, with no public disclosures of revenue, capital structure, or growth metrics, making the underlying financial profile of the Illinois entity unobservable.

Name

Associated Risk Managers of Illinois

Legal name

ARM of Illinois, Inc.

Website

https://armofil.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

1–10 employees

Short description

Member-owned network of 20 independent insurance agencies in Illinois, affiliated with the national Associated Risk Managers International (130+ agencies, $3.5B+ in P&C premiums). Operates proprietary programs including Prairie State Insurance Cooperative for K-12 school districts and PPP for Dentists.

Ownership category

akta.pro rank

Product category

Insurance Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance and Employee Benefit Funds (5251)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industry

Captive Insurance Advisory & Management (FSAEADAF)

Keywords

• Insurance program marketing
• Member-owned insurance network
• Insurance agency aggregation
• Commercial insurance programs
• Insurance cooperative services

Headquarters

HQ city

Saint John

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Insurance Program Access and Commissions: ARM generates value for member agencies by providing access to aggregated insurance markets, niche programs, and carrier partnerships. Members benefit from commission and override opportunities through the network's co-brokerage arrangements with carriers such as Arthur J Gallagher, RPS, Arlington Roe, and others. Revenue flows to member agencies through commissions on insurance products placed through ARM programs.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

ARM of Illinois is a member-owned network of independent insurance agencies that markets specialized insurance programs. The organization provides member agencies with access to aggregated insurance markets, niche programs, and carrier partnerships, including a co-brokerage arrangement with Arthur J Gallagher, the Prairie State Insurance Cooperative for K-12 school districts, the PPP for Dentists program, and wholesale partnerships with RPS and Arlington Roe. Members participate as shareholders and board members, sharing market intelligence, niche programs, and commission and override opportunities across a network of 20 Illinois-based member agencies.

Product overview

ARM of Illinois is an insurance service organization and marketing network for independent insurance agents, offering a platform of niche insurance programs. The core offerings include the Prairie State Insurance Cooperative (PSIC) for K-12 school districts providing property/casualty and workers' compensation coverage, PPP for Dentists offering dental practice insurance including professional liability and property coverage, and access to ARM International Programs providing the broader network's carrier relationships and aggregated market access totaling over $3.5 billion in premiums.

Differentiator

Problem solved

Functional benefit

Products and services

• Prairie State Insurance Cooperative (PSIC) A protected, self-insurance risk management program for Illinois public school districts (K-12) providing property/casualty and workers' compensation coverage with long-term premium stability. Coverage includes General Liability, Auto Liability, Sexual Abuse coverage, School Board Legal Liability, Excess Liability, Crime, Boiler & Machinery, Employee Benefit Liability, Bonds, Student Accident Insurance, and Network Security and Privacy Liability.
• PPP for Dentists Professional liability, property, and EPL indemnity insurance program specifically designed for dental practices in Illinois, including risk management seminars.
• ARM International Programs Parent organization ARMI's network of insurance programs and resources, providing ARM of Illinois members with access to aggregated market relationships, carrier partnerships (Chubb, AIG, American Modern, Arthur J Gallagher, Gallagher Bassett), and specialized expertise and program services through a national network of 130+ independent insurance agents.

Named customers12 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

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Arthur J GallaghercoreChannel Partner/ Reseller/ DistributorCo-brokerage partnership with Arthur J Gallagher, one of the largest brokerage firms in the insurance industry. This partnership enables ARM members to access and win accounts with exposures that previously could not have been considered, providing expanded market reach and placement capacity.
• Prairie State Insurance Cooperative (PSIC)coreStrategic or Co-development PartnerARM-developed cooperative insurance program specifically designed for Illinois K-12 public school districts. PSIC provides property/casualty and workers' compensation coverage with 219 and 178 members respectively, offering long-term premium stability and broader coverages.
• RPS (Rhino Insurance Services)coreChannel Partner/ Reseller/ DistributorWholesale business partnership with RPS for accessing specialty insurance markets and products that ARM member agencies can offer to their clients.
• Arlington RoecoreChannel Partner/ Reseller/ DistributorWholesale business partnership with Arlington Roe providing ARM members access to additional insurance markets and distribution capacity.
• IroquoismajorChannel Partner/ Reseller/ DistributorMarket aggregation partnership with Iroquois enabling ARM members to access aggregated insurance markets with enhanced capacity and competitive terms.
• PPP for DentistsmajorStrategic or Co-development PartnerSpecialized dental practice insurance program partnership providing professional liability, property, and EPL indemnity coverage specifically designed for dental practices in Illinois.
• AIGminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing coverage options through ARM network.
• ChubbminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing coverage options through ARM network.
• American Modern Insurance GroupminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing specialty coverage options.
• Gallagher (Arthur J. Gallagher & Co.)coreChannel Partner/ Reseller/ DistributorInsurance brokerage partner providing market access and co-brokerage capacity for ARM members.
• Gallagher BassettminorImplementation/ SI/ Consulting PartnerClaims management and risk consulting partner providing claims handling services for ARM member clients.

Scale indicators4 records

Recent moves8 records

Expansion highlights3 records

Direct peers

• RPS (Rhino Insurance Services / RPS Insurance Brokerage): Specialty wholesale insurance brokerage providing markets and products to retail agents. Comparable as ARM's wholesale distribution partner, with overlapping role of enabling independent agents to access specialty carrier capacity.
• Iroquois Insurance Group: Insurance market aggregator and exchange providing aggregated carrier access for independent agents, including through ARM's partnership. Operates a comparable aggregation-and-distribution model targeting independent agency networks.
• Arlington Roe: Insurance wholesale brokerage providing specialty markets and product access to independent retail agents. Functions as a direct ARM partner with the same wholesale distribution role as RPS, serving as a comparable channel for independent agency networks.
• Strategic Insurance Agency Alliance (SIAA): National aggregator network of independent insurance agencies that pools member resources to access carrier markets and specialty programs. Closely mirrors ARM's member-owned agency-aggregation model, but at significantly larger national scale.

Broad incumbents

• Trusted Choice: National branding and consumer-referral network for independent insurance agents, operated as a subsidiary of the Big 'I'. Comparable as a member-based distribution vehicle for independent agencies seeking consumer access and brand recognition, though not a regional program administrator.
• Independent Insurance Agents & Brokers of America (Big 'I'): National trade association representing independent insurance agents. Comparable as the umbrella organization serving ARM's member agencies; overlaps in advocacy, education, and market representation functions.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm that serves as a co-brokerage partner to ARM. Operates overlapping distribution and program-administration capabilities at vastly larger scale, representing both a partner and an indirect competitor.

Others

• Vertafore: Insurance technology provider offering agency management systems used by ARM's member agencies. Adjacent ecosystem participant rather than a direct competitor, but a key partner in the independent-agent distribution stack.
• Applied Systems: Insurance software vendor providing agency management and digital workflow tools to independent agencies, including ARM member agencies. Comparable as an enabling technology partner in the independent-agent distribution ecosystem.

Emerging players

• Public Entity Risk Pool (state-level school insurance pools): State-level self-insurance pools serving K-12 public school districts with property/casualty and workers' comp coverage (e.g., state school insurance cooperatives in other states). Directly comparable to ARM's PSIC product in function, though typically government-administered rather than agency-owned.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ARMIntl
• LinkedInlinkedin.com/company/arm-of-illinois-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 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 Associated Risk Managers of Illinois