Goosehead Insurance, Inc. (GSHD)

Goosehead Insurance is an independent insurance agency that distributes personal lines insurance policies throughout the United States. It combines a choice-driven product portfolio, specialized sales and service agents, and proprietary technology. It reports a Net Promoter Score of 77 for 2025, which it says is 3.5x the 2024 industry average. In 2025, Total Written Premium grew 17% to $4.4 billion from $3.8 billion in 2024, revenue grew 16%, and client retention was 85% (90% on a premium basis).

The company sells home, auto, umbrella, motorcycle, flood and recreational insurance from more than 200 carrier relationships. Its Digital Agent is a proprietary online quoting platform that provides home and auto quotes from more than 100 carriers, in some cases with direct binding. Operations are organized across three channels: corporate sales, franchise sales and enterprise partnerships. Corporate sales has 489 employed agents in 13 offices across eight states and also serves as a research and development and training ground. Franchise sales comprises 1,009 operating franchise locations, under ten-year franchise agreements, that cover over 97% of the U.S. population; the largest concentrations are in Texas, Florida and California. Enterprise partnerships with mortgage servicers, lenders and real estate companies either supply lead flow for a fee or take the form of embedded franchises. Four centralized service centers staffed by licensed agents handle policy fulfillment, claims facilitation, payments, changes and renewals. This lets sales agents concentrate on new business.

Customers are individual insurance buyers who want the right coverage at the lowest price, and agents are recruited from captive agencies, other insurance agencies and sales-oriented professionals. Carriers use Goosehead as a scale distribution channel with access to more than 2,600 licensed agents and centralized quality control that reviews all new policies. Carriers include many insuretech companies. The 2025 average commission rate was 14% on new business premium and 12% on renewal premium. Revenue comes from new and renewal commissions and agency fees in corporate sales, and from new and renewal royalty fees (20% of new commissions and agency fees, and 50% of renewal commissions) in franchise sales. Contingent commissions and initial franchise fees round out revenue.

Goosehead competes in the U.S. personal lines distribution industry on reputation, client service, product offerings and tailored coverage. Its competitors are independent agencies, which held 39% of the personal lines market in 2024 and number about 39,000, and captive agencies, which held 35% and sell for only one carrier. The company considers itself one of the largest independent agencies focused primarily on personal lines, while large brokers such as Aon, Gallagher, Brown & Brown, Marsh McLennan and Willis Towers Watson focus mainly on commercial lines. It began franchising in 2012. The text does not state its headquarters location.