masters & associates

Name

masters & associates

Legal name

Masters & Associates

Website

https://mastersins.com

Company type

Private

Founded year

1954

Operating status

Operating

Ownership category

akta.pro rank

Product category

Insurance Agency Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)

akta.pro primary industry

Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)

akta.pro secondary industry

Voluntary/Worksite Critical Illness & Hospital Indemnity (Employee-Paid) (FSAIAKAF)

Keywords

• Personal insurance coverage
• Business insurance solutions
• Employee benefits insurance
• Independent insurance agency
• Commercial risk management

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: As an independent insurance agency, Masters & Associates generates revenue through commissions earned on insurance policies sold and renewed for personal lines (home, auto, life, umbrella, condo, high net worth), business lines (real estate investor, property manager, contractor, manufacturer, cyber liability, school insurance), and employee benefits (dental, vision, disability, voluntary benefits, long-term care, group life). Revenue is recurring in nature as insurance policies require annual renewal.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Masters & Associates is an independent insurance agency that sells and services personal, business, and employee-benefits insurance. Its portfolio includes home, auto, life, umbrella, condo, and high-net-worth coverage; specialized commercial coverage; and group dental, vision, disability, voluntary, long-term-care, and life benefits.

Product overview

Masters & Associates, merged with Hosket Ulen Insurance Solutions, is an independent insurance agency offering a comprehensive suite of personal and business insurance solutions along with employee benefits. The company operates as a full-service insurance provider organized into three main service categories: Personal Insurance (covering individuals and families with products like home, auto, life, and umbrella insurance), Business Insurance (serving commercial clients with specialized coverages including cyber liability and industry-specific insurance), and Employee Benefits (offering group health and benefit programs for employers).

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Insurance Personal insurance coverage for individuals and families, including home, auto, life, umbrella, condo, and high-net-worth insurance.
• Business Insurance Commercial insurance solutions for real-estate investors, property managers, contractors, manufacturers, schools, and organizations seeking cyber-liability coverage.
• Employee Benefits Employer-sponsored group benefits including dental, vision, disability, voluntary benefits, long-term care, and group life insurance.

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Hosket Ulen Insurance SolutionscoreStrategic or Co-development PartnerMasters & Associates has merged with Hosket Ulen Insurance Solutions, combining their long-standing 70+ year history with expanded resources and staff. This merger strengthens their ability to provide comprehensive insurance solutions while maintaining their commitment to the Miamisburg community. The partnership is described as a natural fit given shared values around customer-first philosophy.
• Keystone Insurance GroupcoreStrategic or Co-development PartnerMasters & Associates has maintained a long-standing partnership with Keystone Insurance Group through their independent agency network. This partnership provided the foundation for the relationship with Hosket Ulen Insurance Solutions, as Bill and Brad Hosket were known through the Keystone partnership.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Hosket Ulen Insurance Solutions: Masters & Associates is now a brand operating under Hosket Ulen following the 2019 merger. Both are independent agencies serving Ohio (Columbus, Dayton, Upper Arlington) with the same personal, business, and employee benefits product mix and the same Keystone Insurance Group partnership — directly comparable in model, geography, and customer base.
• Keystone Insurance Group: Long-standing independent agency network and partner of Masters & Associates (referenced as the relationship foundation for the Hosket Ulen merger). Operates a similar multi-carrier independent agency distribution model across the Midwest, making it a directly comparable peer in agency structure and carrier access.
• Insurance Office of America (IOA): Large independent insurance agency with multi-state operations offering the same mix of personal, commercial, and employee benefits products via multi-carrier placement. Closely comparable in product breadth and customer segments, with relevant overlap in SMB employer benefits.
• Heffernan Group (Heffernan Insurance Brokers): Mid-size independent insurance brokerage specializing in commercial lines and employee benefits. Comparable independent-agency distribution model and similar SMB customer orientation, particularly relevant for the business insurance and benefits segments.
• Cottingham & Butler: Mid-size independent insurance brokerage with strong Midwest presence offering commercial, personal, and benefits lines through multi-carrier placement. Comparable in scale profile (mid-size independent broker serving regional markets) and product mix.
• RPS (Risk Placement Services) Insurance: Specialty insurance brokerage and binding authority platform with strong commercial lines focus. Comparable in serving SMB/commercial customers via multi-carrier distribution, particularly relevant for the business insurance segment including specialty lines like cyber liability.

Broad incumbents

• Acrisure: One of the largest independent insurance brokerage platforms in the U.S., formed through rapid M&A of independent agencies. Operates the same multi-carrier independent agency model with personal, commercial, and benefits lines — a scaled version of Masters & Associates' underlying thesis and a likely consolidator/buyer of similar regional independents.
• Brown & Brown Insurance: National insurance brokerage operating an independent agency model with strong Midwest presence. Comparable product breadth (personal, commercial, employee benefits) and carrier-agnostic distribution, but at materially larger scale — relevant as a peer for both competitive overlap and potential roll-up acquirer.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management services firm with a large retail brokerage division serving personal, commercial, and benefits customers. Relevant as a broad incumbent whose SMB and middle-market divisions compete directly for the same customer base Masters & Associates serves.
• Marsh McLennan: Largest global insurance broker and risk advisor, with a substantial U.S. middle-market brokerage practice. Not a direct competitor in the Ohio small-agency segment, but a relevant incumbent whose carrier relationships, technology investments, and acquisitive growth shape the competitive landscape Masters & Associates operates in.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/HosketUlen
• Facebookfacebook.com/HosketUlen/?ref=br_rs
• LinkedInlinkedin.com/company/masters-and-associates-insurance-llc
• Instagraminstagram.com/hosket_ulen

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 masters & associates