Company Research Report: Heffernan Insurance Brokers

Company Overview

Name: Heffernan Insurance Brokers

Mission: Heffernan aims to protect valuable assets and assist in making smart decisions for businesses and families. With a commitment to people, Heffernan values a culture dedicated to serving clients’ needs.

Founded: 1988

Founders: Information on specific founders is not available.

Key People:

F. Michael Heffernan III - President and Chief Executive Officer

Elizabeth Bishop - Chief Sales Officer and President of Personal Lines

Brian Dantzig - President of Retail Branches

Jani De La Rosa - Chief Sales Officer Employee Benefits

Kate Grasman - Chief Information Officer

Headquarters: Walnut Creek, California

Number of Employees: Approximately 500

Revenue: Over $200 million

Core Competencies: Heffernan is known for its comprehensive business insurance, personal insurance, employee benefits, and financial services products. The company has a strong reputation in niche practice areas such as nonprofit, construction, healthcare, transportation, hospitality, food industry, real estate, and technology.

Products and Services

Business Insurance: Offers protection tailored to various industries, addressing standard and unique coverage needs.

Personal Insurance: Provides solutions to safeguard individual assets with products like personal health and life insurance plans.

Employee Benefits: Includes health insurance and retirement services designed to support employer and employee needs.

Financial Services: Offers financial planning and management services for both individuals and businesses.

Recent Developments

Internship Program Expansion: In 2024, Heffernan expanded its summer internship program, demonstrating its commitment to developing future professionals.

Women Empowered (WE) Program Expansion: The company expanded its Women Empowered program in 2024, highlighting its focus on gender diversity and empowerment in the workplace.

New Acquisitions:

Acquired Costello Insurance Associates and Calco Commercial Insurance Services in 2024.

Acquired Achieve Alpha Insurance and First Coast Wealth Advisors, expanding its reach and service capabilities.

Board Appointment: In 2024, Suzy Taherian was appointed to the Board of Directors.

New Developments and Features:

Launched a new website in April 2024, aiming to enhance customer experience and engagement.

Strategic Initiatives

Philanthropy and Social Responsibility: Named a ‘Top Corporate Philanthropist’ since 2003, donating over 10% of profits to charity annually.

Collaborative Growth Strategy: Focuses on organic growth complemented by strategic and culturally aligned acquisitions. Engaging in partnerships with independent brokers to grow and leverage Heffernan’s expertise and resources.

Industry Recognition:

Ranked 41st largest U.S. business broker by Business Insurance Magazine in 2023.

Received several accolades by various insurance journals and industry organizations, recognizing its business excellence and employee satisfaction.

Conclusion

Heffernan Insurance Brokers has established itself as a leading, independent insurance brokerage firm distinguished by its client-centric approach, diversified offerings, and commitment to philanthropy. Through strategic acquisitions and expansion of programs, Heffernan continues to thrive in a competitive landscape while maintaining a strong culture of dedication to both clients and employees.