Shepherd Insurance

What Shepherd Insurance does

Shepherd Insurance is a privately held, independent insurance brokerage founded in 1987 by Dave Shepherd and headquartered in Carmel, Indiana. Operating as Shepherd Insurance LLC, the firm represents multiple insurance carriers and earns commission revenue on personal lines (auto, homeowners, life, umbrella, renters, pet, watercraft, motorcycle/RV, weddings), commercial lines (property, liability, workers comp, construction, agriculture, oil and gas, transportation, towing, municipalities, medical professionals), employee benefits (group medical, dental, vision, disability, voluntary worksite, executive benefits, stop loss, EAPs, association health plans), Medicare insurance, surety bonds (contract, commercial, notary), and wealth management. Customer segments span individuals, families, and businesses across personal, commercial, and benefits use cases.

The technology stack consists of standard insurance agency management systems supporting a field-agent distribution model, augmented by proprietary digital properties including the Cyber JumpStart Portal (managed cyber insurance), the Online Bond Purchasing Platform, and the Client Center portal (claims, bill pay, certificate requests). The brokerage has access to 18 of the top 20 ranked carriers in the United States.

The go-to-market combines licensed field agents and insurance advisors across 40+ offices in six states (Arizona, Florida, Illinois, Indiana, Kentucky, Minnesota), phone-based inside sales for policy servicing, and online self-service for small-ticket products. Shepherd Insurance has executed 25+ acquisitions since 2007, retaining local brand identities while consolidating back-office functions, and is led by CEO Quinn Shepherd. Revenue is not publicly disclosed; the firm was ranked the 43rd largest independent agency in the United States in 2020 and is among the 50 largest independent agencies nationally.

Name

Shepherd Insurance

Legal name

Shepherd Insurance LLC

Website

https://tciky.com

Company type

Private

Founded year

1987

Operating status

Operating

Short description

Shepherd Insurance is a privately held independent insurance brokerage founded in 1987, operating 40+ offices across six states to deliver personal, commercial, employee benefits, Medicare, and surety bond products to individuals, families, and businesses via multi-carrier representation.

Ownership category

akta.pro rank

Product category

Independent Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Life Insurance (6311)

akta.pro primary industry

Property Insurance (Homeowners, Renters & Commercial Property) (FSAJAKAH)

akta.pro secondary industries

General Liability Insurance (FSAJAKAD), Pet Insurance (FSAJAMAO), Umbrella & Excess Liability Insurance (FSAJAKAK)

Keywords

• Independent insurance agency
• Commercial insurance brokerage
• Employee benefits brokerage
• Personal insurance coverage
• Surety bond services

Headquarters

HQ city

Florence

HQ country

United States

HQ region

North America

Offices41 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, Shepherd Insurance earns commissions from multiple insurance carriers for policies placed on behalf of clients. The company represents multiple carriers and earns commissions on auto, homeowners, commercial, life, health, Medicare, and other insurance products.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Shepherd Insurance is an independent insurance agency that brokers personal, commercial, and employee benefits insurance products from multiple carriers on behalf of individuals, families, and businesses. It also provides surety bonds, Medicare insurance, financial/wealth advisory services, and population health & well-being programs, distributing these offerings through licensed agents across 40+ offices as well as online self-service portals.

Product overview

Shepherd Insurance is a full-service independent insurance agency offering a comprehensive portfolio of insurance and financial products. The company operates across personal insurance (auto, homeowners, life, renters, pet, personal umbrella, weddings, watercraft, motorcycles/RVs), commercial insurance (general commercial, construction, agriculture, truck dealerships, oil & gas, towing, municipalities, transportation, medical professionals), and employee benefits (health plans, dental, vision, life, disability, executive benefits, Medicare, stop loss, voluntary worksite benefits, EAPs). Supporting services include population health & well-being programs, bonding services (contract, commercial, and notary bonds), Medicare insurance plans, individual health insurance, and financial services. The company also provides mergers and acquisitions advisory services for agency partnerships. Shepherd Insurance maintains over 40 offices across 6 states (Arizona, Florida, Illinois, Indiana, Kentucky, Minnesota) with headquarters in Carmel, Indiana.

Differentiator

Problem solved

Functional benefit

Brands

• Population Health & Well-being: A data-driven wellness program that evaluates employer well-being programs using workforce demographics and claim utilization benchmarking to develop customized strategies with measurable goals.
• API (Al Purmort Insurance)

Products and services

• Auto Insurance Vehicle coverage protecting against accidents, liability, and damage to owned automobiles for individuals and families.
• Homeowners Insurance Property coverage protecting against damage to homes and personal belongings for individual homeowners.
• Life Insurance Financial protection for families providing death benefits to beneficiaries; one of the original lines sold by founders Dave and Bill Shepherd.
• Personal Umbrella Insurance Additional liability protection beyond standard policy limits for personal coverage.
• Renters Insurance Coverage for rented dwellings and personal belongings.
• Watercraft Insurance Coverage for boats and watercraft vessels.
• Motorcycle & RV Insurance Coverage for motorcycles, recreational vehicles, and related assets.
• Wedding & Special Events Insurance Coverage for weddings and special events protecting against unforeseen cancellations and liability.
• Pet Insurance Coverage for veterinary expenses and pet health care.
• Flood Insurance Coverage for flood damage through NFIP and private flood insurance options, including excess flood coverage for properties exceeding NFIP limits.
• Commercial Insurance Business coverage protecting companies against property damage, liability, and operational risks.
• Construction Insurance Specialized coverage for construction industry including contractors, builders, and construction firms.
• Agriculture Insurance Coverage for farms, ranches, and agricultural operations including crop and livestock protection.
• Truck Dealerships Insurance Specialized insurance solutions for truck dealership operations.
• Oil & Gas Insurance Coverage for energy sector including oil, gas, and related industrial operations.
• Towing Insurance Coverage for towing operations and roadside assistance businesses.
• Municipalities Insurance Coverage solutions for government entities and municipal operations.
• Transportation Insurance Coverage for transportation companies including carriers and logistics operations.
• Medical Professionals Insurance Professional liability coverage for healthcare providers including medical malpractice insurance.
• Group Medical Insurance Health insurance coverage for employer-sponsored groups and their dependents.
• Dental Insurance Dental insurance coverage as part of employee benefit packages.
• Vision Insurance Eye care coverage including exams, lenses, and frames as part of benefit packages.
• Disability Insurance Short-term and long-term disability coverage protecting employees' income.
• Executive Benefits Specialized benefit packages for executive-level employees including deferred compensation and supplemental coverage.
• Voluntary Worksite Benefits Employee-paid benefit options offered through workplace including accident, critical illness, and hospital indemnity coverage.
• Employee Assistance Programs Confidential support services for employees dealing with personal and work-related challenges.
• Stop Loss Insurance Protection for self-funded health plans against catastrophic claims exceeding expected thresholds.
• Association Health Plans Health coverage solutions designed for business associations and member groups.
• Population Health & Well-being Data-driven wellness programs evaluating workforce health through claims analytics, preventive care utilization, and customized well-being strategies aligned with organizational culture.
• Mental Health Benefits Mental health coverage and support services including counseling, telehealth, and crisis resources as part of health plans.
• International Benefits Benefits coverage for employees working internationally or globally distributed workforces.
• Individual Health Insurance Personal health coverage for individuals and families outside employer-sponsored plans.
• Medicare Insurance Plans Medicare coverage options including Part A, Part B, Medicare Advantage, Medicare Supplement, and Part D prescription drug plans for retirees and eligible individuals.
• Contract Bonds Surety bonds including Bid Bonds, Maintenance Bonds, Performance & Payment Bonds, and Subdivision Bonds for construction and contractor needs.
• Commercial Bonds Bonds including Court Bonds, Fidelity Bonds, License & Permit Bonds, Miscellaneous Bonds, and Public Official Bonds for business compliance.
• Notary Bonds Coverage for notaries to guarantee proper performance in document notarization, with over 30 years of service.
• Financial Services Independent wealth advisory services maximizing clients' financial future.
• Mergers & Acquisitions Advisory Services Consulting and support for insurance agency acquisitions and partnerships during transitions, supporting the firm's continued growth-by-acquisition strategy.

Quantifiable outcome

• Shepherd Insurance earned Top Workplaces USA awards in both 2024 and 2026, and ranked top 3 among large companies in 2026 Central Indiana Top Workplaces.
• +3 more outcomes

Named customers17 records

Segments6 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

18 partnerships are on record, tiered core.

• Matt Kleymeyer (Individual)coreOthers · 6 July 2026Matt Kleymeyer joined Shepherd Insurance as President of Employee Benefits, strengthening the organization's commitment to employee benefits services.
• Collin Hill (Individual)coreOthers · 22 June 2026Collin Hill appointed as Shepherd Insurance's first-ever Chief Information Officer, a new leadership role created to advance technology strategy.
• Responsive InsurancecoreStrategic or Co-development Partner · 3 June 2026Responsive Insurance, an established Southwest Florida agency with offices in Naples and Estero, joined Shepherd Insurance. This milestone expands Shepherd's Florida footprint.
• Capitol Insurance GroupcoreStrategic or Co-development Partner · 15 May 2026Capitol Insurance Group joined the Shepherd family, marking continued growth across Indiana and beyond.
• Cox & Kimball InsurancecoreStrategic or Co-development Partner · 4 May 2026Cox & Kimball Insurance joined Shepherd Insurance, strengthening Shepherd's presence in Bedford, Indiana.
• Arnold InsurancecoreStrategic or Co-development Partner · 16 April 2026Arnold Insurance joined Shepherd Insurance, becoming Shepherd's seventh Florida location in Port Charlotte, Florida.
• 2025 Partner Agencies (Multiple)coreStrategic or Co-development Partner · 5 March 2026Multiple agencies joined Shepherd Insurance in 2025 as part of the company's ongoing mergers and acquisitions strategy.
• Lori Sell InsurancecoreStrategic or Co-development Partner · 1 February 2024Lori Sell Insurance joined Shepherd Insurance to offer additional benefits to their clients, enhancing services through the partnership.
• Parker GroupcoreStrategic or Co-development Partner · 22 January 2024Parker Group partnered with Shepherd Insurance to offer additional benefits to their clients.
• Tanner & Servies InsurancecoreStrategic or Co-development Partner · 31 July 2023Tanner & Servies Insurance announced partnership with Shepherd Insurance to offer additional benefits to their clients.
• River Valley InsurancecoreStrategic or Co-development Partner · 28 February 2023River Valley Insurance announced partnership with Shepherd Insurance to offer additional benefits to their clients.
• Kleinschmidt InsurancecoreStrategic or Co-development Partner · 28 December 2022Kleinschmidt Insurance announced partnership with Shepherd Insurance to offer additional benefits to their clients.
• Mid States InsurancecoreStrategic or Co-development Partner · 15 December 2022Mid States Insurance announced partnership with Shepherd Insurance to offer additional benefits to their clients. Mid States Insurance has been serving Boone County since 1985.
• Midwest Insurance ProfessionalscoreStrategic or Co-development Partner · 24 October 2022Midwest Insurance Professionals announced partnership with Shepherd Insurance. Founded in 2001, they serve individuals, families, and businesses throughout Indiana.
• Charlotte Insurance AgencycoreStrategic or Co-development Partner · 8 September 2022Charlotte Insurance Agency announced partnership with Shepherd Insurance to serve clients in Port Charlotte, Florida.
• First InsurancecoreStrategic or Co-development Partner · 4 May 2022First Insurance announced partnership with Shepherd Insurance. First Insurance has been protecting local families and businesses since 1999.
• Bennett & Bennett InsurancecoreStrategic or Co-development Partner · 22 February 2022Bennett & Bennett Insurance Inc. partnered with Shepherd Insurance to offer additional benefits to clients in Corydon and New Albany, IN.
• Central Insurance Companies (Blue Streak)coreTechnology or Integration · 15 October 2018Shepherd Insurance was appointed a special Blue Streak representative for the Central Insurance Companies, enabling them to offer specialized bond products.

Scale indicators5 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Brown & Brown: Large publicly traded independent insurance brokerage operating a decentralized agency model across the US, with comparable multi-line P&C, employee benefits, and personal lines offerings and a similar roll-up acquisition strategy.
• IMA Financial Group: Employee-owned independent insurance brokerage with comparable P&C, employee benefits, and personal lines offerings across multiple US states with similar mid-market focus.
• USI Insurance Services: Privately held national insurance brokerage and consulting firm with comprehensive P&C, employee benefits, and personal lines coverage, competing directly for middle-market and personal clients across multiple states.
• AssuredPartners: PE-backed national independent insurance brokerage built through aggressive agency acquisitions, mirroring Shepherd's roll-up strategy across personal, commercial, and benefits lines.
• Hub International: Large private insurance brokerage serving mid-market and commercial clients across North America with multi-line P&C, employee benefits, and personal lines — comparable operating model and M&A-driven growth.
• The Horton Group: Mid-sized independent insurance and risk management agency offering comparable multi-line commercial, personal, and employee benefits products across the Midwest.
• MJ Insurance: Mid-market independent insurance agency specializing in commercial P&C, employee benefits, and personal lines for businesses and individuals across multiple states.
• TrueNorth Companies: Mid-sized independent insurance and financial services firm offering comparable commercial, personal, and benefits brokerage products, with similar Midwest concentration.

Broad incumbents

• Marsh McLennan Agency: Middle-market-focused brokerage subsidiary of Marsh McLennan, providing comparable P&C, employee benefits, and personal lines services through a regional office model.
• Arthur J. Gallagher: Global insurance brokerage and risk management firm with significantly larger scale than Shepherd, offering overlapping capabilities across P&C, benefits, and specialty lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/shepherdins
• Facebookfacebook.com/shepherdins
• LinkedInlinkedin.com/company/shepherdinsurance
• Instagraminstagram.com/shepherd_insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries31 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 Shepherd Insurance