Comprehensive Market Research Report

Company Overview: GreatFlorida Insurance

GreatFlorida Insurance is a leading network of independent, franchised insurance agents situated entirely in Florida, presenting a comprehensive selection of insurance products. With more than 141 locations across the state, the company provides accessible and versatile insurance solutions, operating from its headquarters in Stuart, Florida. This independence distinguishes it from captive agencies since its network can offer multiple policy options from different providers, tailor-made to client requirements. Strategic alliances with both local and national "A" rated carriers further expand their product suite, including home, auto, boat, commercial, motorcycle, business, condo, renters, umbrella, flood, and SR-22 insurance.

Financial and Operational Insights

Estimated Annual Revenue: Approximately $53.3 million.

Locations: Over 141 statewide.

Customer Service Approach: 24/7 availability throughout the year, reflecting their commitment to customer satisfaction.

Revenue Per Employee: Approximately $242,000.

Employee Growth: Reports an 8% increase over the last year.

Market Position: Recognized as the largest privately-held Independent Insurance Franchise Organization in Florida.

Leadership Team

Ike Justin Peerbhai

Founder, President, and CEO of GreatFlorida Insurance Holding Corp., Ike Peerbhai brings a client-focused philosophy to GreatFlorida Insurance. Operating primarily out of Palm City, Florida, he has cultivated a significant presence within the insurance industry, facilitated by a network of 342 LinkedIn connections. His leadership has elevated GreatFlorida to a preeminent position in Florida’s insurance sector, steering the company with a commitment to personalized service.

Dustyn Shroff

As Vice President, Dustyn Shroff plays a pivotal role in the operational and strategic growth of GreatFlorida Insurance. Based in Stuart, he has significantly influenced franchise operations and the onboarding process for new franchisees, drawing on his background since 2013 with State Farm. His efforts are central to expanding the franchise network and maintaining the quality of service across the board.

Social Media and Brand Presence

GreatFlorida Insurance effectively leverages social media platforms, including Facebook, LinkedIn, and Instagram, for client engagement and dissemination of corporate communications. These channels are integral to their brand management and serve to maintain strong customer and market connections.

Key Personnel within the Network

Rozie Arrington: Insurance Agent / VP.

D'ara Klein: Marketing Manager.

Cecilia Wise: Owner of two GreatFlorida Insurance locations.

Andy Villalon: Owner/Agent.

Kevin Swanson: Agent in Brandon, Florida.

Competitor Profiling

Direct Competitors

1. United Claim Solutions

Revenue: $23.3 million

Employees: 106

Employee Growth: 25%

2. Futurity First

Revenue: $140 million

Employees: 509

Employee Growth: 2%

3. Nassau Re

Revenue: $169.3 million

Employees: 606

Employee Growth: 15%

4. Colorado Insurance

Revenue: $38.7 million

Employees: 160

Employee Growth: -2%

5. ClaimVantage

Revenue: $0.8 million

Employees: 15

Employee Growth: -6%

These competitors offer a diverse spectrum of products and have distinctive market positions, ranging from life insurance and reinsurance to health and cost containment services. Each presents unique market dynamics, shaping challenges and opportunities for GreatFlorida Insurance.

Competitive Position

GreatFlorida Insurance maintains a strong competitive edge through its extensive franchise network and diverse insurance product offerings. The high per-employee revenue and continued employee growth reflect an effective operational strategy and an unmistakable market traction. Despite facing established and financially strong competitors, GreatFlorida Insurance leverages its state-wide presence and localized expertise to capture consumer loyalty and expand market share within Florida.