Unland Insurance & Benefits - Comprehensive Analysis Report

Summary

Unland Insurance & Benefits is a well-established, full-service independent insurance agency rooted in Central Illinois. Founded in 1941, the company's core mission centers on delivering extensive personal and commercial insurance coverage, life and health insurance, employee benefits, human resource services, and financial services. They aim to provide these offerings at competitive costs, complemented by superior service. With over eight decades of operation, Unland emphasizes a "customer-first" approach, focusing on understanding individual client needs. Through aggressive sales strategies and strategic acquisitions, Unland has solidified its position as a significant independent agency within its region.

1. Strategic Focus & Objectives

Core Objectives

Unland Insurance & Benefits' primary objectives revolve around providing comprehensive risk management solutions. A core aim as an independent agency is to meticulously select insurance carriers, ensuring clients receive the highest quality and most affordable options for their coverage needs. They act as brokers, negotiating with top carriers on behalf of their clients.

Specialization Areas

The company specializes in offering tailored solutions across various sectors, including small businesses, educational institutions (school systems), retail operations, and agricultural companies. Their key areas of expertise encompass personal and commercial lines of insurance, employee benefits, human resource services, and financial services. They differentiate themselves by fostering personalized client relationships and providing experienced, professional support.

Target Markets

Unland primarily targets individuals and businesses within Central Illinois. Their market positioning emphasizes their role as a trusted local advisor capable of offering diverse solutions from multiple highly-rated carriers, contrasting with captive agents who represent a single insurer.

2. Financial Overview

Funding History

Unland Insurance & Benefits is a privately held independent insurance agency, and as such, detailed public financial statements or external funding rounds are not disclosed in the manner of technology startups. The company's funding primarily stems from commissions generated on the policies it sells. In 2020, Unland achieved its best year on record, concluding with $46 million in premiums written. This figure included more than $10 million in commercial property and casualty solutions and $14 million in group benefits and related business volume.

3. Product Pipeline

Key Products/Services

Unland Insurance & Benefits offers a robust portfolio of services designed to meet diverse client needs:

Personal Insurance: This includes coverage for individuals and families, protecting assets such as homes, vehicles, and personal belongings.
Commercial Insurance: Tailored risk management solutions for businesses across various industries, covering property, liability, and other operational risks.
Life and Health Insurance: Comprehensive life insurance products and health benefit plans for individuals and groups.
Employee Benefits: Services focused on designing and managing employee benefits packages, including health, dental, vision, and retirement plans.
Human Resource Services: Support for businesses in managing HR functions, often integrated with employee benefits administration.
Financial Services: Offerings through Unland Wealth Strategies, including investment consulting and financial planning.

4. Technology & Innovation

Technology Stack

While not a technology company, Unland Insurance & Benefits strategically utilizes technology to enhance operational efficiency and elevate customer service. Their technological capabilities include:
Ease: A platform employed to streamline benefits enrollment processes for employees, employers, and agents.
Proprietary Website: Used to facilitate the sales funnel, provide online quote and claim forms, and serve as a central information hub.
MyWave Connect (powered by ZyWave): A comprehensive online resource for employee benefit information, offering clients access to up-to-date documentation and tools.

These platforms are integral to modernizing their service delivery and maintaining competitiveness in a digitally evolving industry.

5. Leadership & Management

Executive Team

Patrick J. Taphorn, CIC, CSRM - President
Professional Background: Joined Unland in 1989, starting in Accounting and Operations before transitioning to sales in 1994. He became President in January 2016 and oversees all six agency locations while maintaining agent responsibilities. Mr. Taphorn holds licenses for Property & Casualty and Life & Health in Illinois, and possesses Certified Insurance Counselor (CIC) and Certified School Risk Manager (CSRM) designations. He was recognized as a Peoria Area 40 Leaders Under 40 in 1997.
Key Contributions: Leads the agency's strategic direction and operations, focusing on growth and client relations. His recent installation as President of Big I Illinois in October 2024 highlights his industry influence.
LinkedIn Presence: https://www.linkedin.com/in/pat-taphorn-4a56b432
Nate Rugaard, CIC - Senior Vice President
Professional Background: Joined Unland in 2013. He is a Certified Insurance Counselor (CIC) and specializes in school and church insurance, while also working across various industries to protect clients. Mr. Rugaard supervises the sales force, develops new talent, and monitors overall agency production.
Key Contributions: Drives sales performance, talent development, and plays a crucial role in maintaining strong client relationships, particularly within specialized sectors.
LinkedIn Presence: https://www.linkedin.com/in/nate-rugaard-20325a17
Matt Sage - Director of Sales & Operations
Professional Background: Joined Unland in March 2022 with over 13 years of insurance industry experience from both captive and independent organizations, as well as banking.
Key Contributions: Focuses on enhancing growth, optimizing process workflows, and fostering agent development within the company.
LinkedIn Presence: https://www.linkedin.com/in/matt-sage-unland
Chad Arseneau - Financial Advisor
Professional Background: Joined The Unland Companies in 2004, bringing 23 years of experience in financial markets and investment consulting. He holds Certified Plan Fiduciary Advisor (CPFA) and Certified Exit Planning Specialist (CEPA) designations.
Key Contributions: Provides expert financial advice, guides clients through investment strategies, and supports financial planning.
Noele Tatlock - Agent – Personal Lines & Small Business
Professional Background: Serves as a Personal Lines Manager and Agent for Personal Lines and Small Business. She is also a Director on the Big I Illinois Board.
Key Contributions: Manages personal lines operations and acts as a key agent, deeply engaged with client needs and industry associations.
LinkedIn Presence: https://www.linkedin.com/in/noele-tatlock-58276722
Bill Shock, CBC - Consultant
Professional Background: Merged The Shock Agency with Unland in 1989, bringing over 41 years of industry experience. He is a Certified Benefits Advisor (CBC) and Certified Senior Advisor. He transitioned to a consulting role in 2021.
Key Contributions: Provides extensive expertise in Benefits and Personal Insurance, offering strategic guidance as a consultant.
Bonnie Eeten - Consultant
Professional Background: Joined Unland in 2009, with a background as a business owner, insurance broker, and third-party administrator.
Key Contributions: Offers valuable insights and guidance drawing from her diverse experience in business and insurance.

Recent Leadership Changes

In January 2016, Patrick Taphorn was appointed President, succeeding Afton Booth, who transitioned to Chairman of the Board. At the same time, Bill Shock assumed more administrative duties as Executive Vice President, and Nate Rugaard was named Vice President. Afton Booth continued to focus on business development and acquisition opportunities. Bill Shock moved into a consulting role in 2021 as he began preparing for retirement. Most recently, Patrick Taphorn was installed as the President of Big I Illinois in October 2024, signaling his increasing leadership role within the broader industry.

6. Talent and Growth Indicators

Hiring Trends and Workforce

Unland Insurance & Benefits has shown consistent growth since its inception, expanding from three employees in 1941 to nearly 40 employees across five locations by 2021. The company has continued its expansion through strategic acquisitions.

Current hiring trends reflect the company's commitment to strengthening its core service areas, with open positions typically including:
Commercial Lines Account Manager
Personal Lines Account Manager
Producer/Insurance Agent
Receptionist/Customer Service Specialist

These roles indicate a sustained demand for skilled professionals across client management, sales, and administrative support, aligning with the company's growth trajectory. Unland provides a comprehensive benefits package to its employees, encompassing health, dental, vision, life, disability, 401K, and an ESOP, highlighting an emphasis on employee well-being and professional development.

7. Social Media Presence and Engagement

Digital Footprint

Unland Insurance & Benefits maintains an active digital presence, primarily leveraging platforms such as LinkedIn, Facebook, and Twitter. Their social media strategy focuses on:
Brand Messaging: Reinforcing their identity as a trusted independent agency with deep local roots.
Community Engagement: Highlighting their involvement in various community organizations and philanthropic efforts, such as supporting the American Cancer Society and St. Jude Children's Research Hospital.
Thought Leadership: Sharing industry-relevant news, articles, and insights, positioning themselves as experts in the insurance domain.
Company News: Disseminating information about leadership appointments, awards, and other significant company milestones.

Their engagement efforts aim to connect with clients, potential recruits, and the wider community, underscoring their commitment to both business excellence and social responsibility.

8. Recognition and Awards

Industry Recognition

Unland Insurance & Benefits has garnered numerous awards and recognitions, underscoring its commitment to excellence and leadership within the insurance industry:
Awards received from the Independent Insurance Agents Association.
Awards from the National Association of Health Underwriters.
Recipient of Accident Fund Insurance Company of America's 2020 President's Club Award.
Unland Benefits Account Manager Tammy Riddle was honored with the Greg Smith ISAHU Distinguished Service Award by the Illinois State Association of Health Underwriters in June 2022.
Patrick Taphorn, President of Unland Insurance & Benefits, was installed as the President of Big I Illinois in October 2024, a significant leadership role within the state's independent insurance association.
Noele Tatlock was named the Pekin Area Chamber of Commerce October 2020 Ambassador of the Month.

9. Competitive Analysis

Major Competitors

Unland Insurance & Benefits operates within a dynamic and competitive Central Illinois insurance market, vying with other well-established independent agencies. Key competitors include:

Envision Group:
Company Overview: Serving Central Illinois since 1919.
Focus Areas: Specializes in risk management, commercial insurance, group health and benefits, HR services, technology consultation, and personal and executive insurance.
Technological Capabilities: Leverages technology to enhance services, similar to Unland.
Competitive Positioning: Emphasizes comprehensive service offerings and a long history in the region.
Ledgestone:
Company Overview: Focuses on strategic partnerships with businesses.
Focus Areas: Manages risk, ensures continuity and safety, and fosters purposeful work environments for business clients.
Technological Capabilities: Utilizes modern tools for risk management and business analytics.
Competitive Positioning: Positions itself as a strategic partner dedicated to business success and risk mitigation.
Troxell:
Company Overview: Founded in 1887, it is one of Illinois' largest independent insurance agencies.
Focus Areas: Offers an extensive array of products across Workers Compensation, Employee Benefits, Financial Services, Surety and Fidelity Bonds, Personal Lines, and Commercial Lines.
Technological Capabilities: Known for representing many top insurance companies and boasts an in-house Claims Department.
Competitive Positioning: Differentiates through its large scale, long history, broad product range, and dedicated claims support.

These competitors, like Unland, leverage their independent status to offer a wide selection of carriers and emphasize personalized service, reflecting a market focused on strong client relationships and tailored, comprehensive solutions.

10. Market Analysis

Market Overview

The Central Illinois insurance market, the primary operational area for Unland Insurance & Benefits, is characterized by a significant presence of independent agencies catering to both personal and commercial clientele. The total addressable market is substantial, driven by ongoing demands for risk mitigation across various economic sectors in the region.

Growth Potential: The market demonstrates steady growth, fueled by business expansion and evolving individual needs for comprehensive coverage. Agencies that can adapt to new regulatory landscapes and technological advancements are well-positioned for continued growth.

Key Market Trends:
Technological Integration: Increasing reliance on digital platforms for enhancing efficiency, customer interaction, and policy management (e.g., online enrollment, digital communication