Axis Insurance Services, LLC (Axis or The Company) is excited to share that it is celebrating its 25th anniversary in 2024 in the business of providing professional, management and cyber liability solutions. Located in Franklin Lakes, New Jersey, Axis provides insurance solutions to thousands of insureds in all 50 states.
The Company was founded in 1999 in Yardley, Pennsylvania by Mike Smith, a former practicing CPA and auditor with Price Waterhouse now PWC and Chief Financial Officer in the insurance industry. The company subsequently moved to its corporate headquarters to its current location in Northern New Jersey in 2012 where it has grown from a small 3-person company to a national agency with 50 employees in 12 states including outsourcing operations in China. In 2012, Axis welcomed Javier Gonzalez as a partner, bolstering its sales and management capabilities. Together, Smith and Gonzalez, and their dedicated team have steered Axis through dynamic growth, doubling in size every five years despite market fluctuations, economic downturns, and global challenges like the COVID-19 pandemic. The two partners along with their management team and staff have subsequently grown the company to what it is today.
In the 25 years since the company was founded, it has grown significantly, experience more than 20% growth every year, including having doubled in size every five years while overcoming market crashes, recessions and COVID hurdles. The company has continued to diversify having added a wholesale division, PL Risk in 2014; a cannabis division in 2020 and Select Division starting in 2023 to focus on the often-forgotten middle market risk. They have recently launched a new MGA, PLRisk Pro that will shortly begin writing new miscellaneous professional business as an underwriter. The company serves primarily middle market clients, but also has insureds nationwide ranging from startup tech companies to multibillion dollar international companies. The company expanded its product offerings three years ago to include transactional business (Reps and Warranties) relating to mergers and acquisitions. This line of business as well as the company’s cannabis division through PLRisk has grown in a short period of time to cover over 10% of the company business.
Axis Insurance Services, LLC is well known in the market as offering direct professional management and cyber liability products to the insurance agents, brokers, and commercial real estate firms, but its recent diversification efforts have exponentially attributed to its growth. For example, cyber liability now accounts for 15% of the company’s business whereas it was a relatively new line of business only 5 years ago.
Mike Smith, CEO of Axis Insurance Services, spoke about how far the company has come in their first 25 years. “When we started in Yardley Pennsylvania, we were just a small consulting firm with three people. Today we are 50 employees across several divisions, and we continue to grow. In the next few years, we have big plans that I hope will see our company continue this pace we are currently on. It seems like just yesterday we were celebrating our 20th anniversary. It is amazing to see our growth and the excitement of our staff to be part of something we built from scratch. Many of our employees have been with the company 10, 15 and even 20 years. That is a testament to the commitment of our employees.”
Smith notes that “bringing on Javier as a partner in 2012 was a pivotal point in the change and growth of the company, allowing me to focus on operations and Javier to strategically grow our operations.” Axis's sustained growth can be attributed to its unwavering commitment to hiring and retaining top talent, fostering a culture of stability and innovation. As Axis embarks on its next chapter, Smith envisions continued expansion and prosperity, fueled by the passion and expertise of its longstanding team.
About Axis Insurance Services, LLC
Celebrating its 25th year anniversary in 2024, Axis Insurance Services, LLC, is proud of our reputation in building highly customized insurance solutions for all types of professional service companies and their employees. We believe our diverse product options and outstanding customer service help us earn our clients’ trust and loyalty.
What sets us apart from other insurance brokers is our deep understanding of the market and our ability to tailor coverage options in sync with our clients’ objectives. Having insured hundreds of commercial real estate firms and consulted countless more, the company is uniquely qualified to provide quality Professional, Management and Cyber Liability policies to our clients.
Formed in 1999, Axis Insurance Services, LLC is a nationwide leader in the professional and management liability insurance industry, developing innovative risk management solutions for today’s evolving businesses. We offer insurance programs to a broad array of professionals and industries, including insurance agents/brokers, attorneys, commercial real estate firms, technology, healthcare/medical, financial institutions, architects/engineers, consulting firms, media, and many others.
Given our strong presence among insurance agents and brokers, it only made sense to create a wholesale division: We launched PLRisk in 2014 and today the two firms provide retail and wholesale coverage solutions for Cyber Liability & Privacy/Network Security, Errors and Omissions, Directors and Officers, Employment Practices Liability, Commercial Crime and Fiduciary coverage.
For More Information:
Website: www.axisins.com
Contact Drew Smith: dsmith@axisins.com
