Brokers and Carriers Market Share Database FAQs
What is included in the Brokers and Carriers Market Share Database?
The Brokers and Carriers Market Share Database is a database that highlights the relationships between insurance brokers and insurance carriers. It includes information on every employer health and welfare benefit policy reported to the Department of Labor on a Form 5500, including detailed contact information on more than 30,000 agents and firms.
This meticulously maintained database of brokers’ and carriers’ books of business, includes the information you need to:
- Determine which carriers individual brokers are representing.
- Identify which employers those brokers are serving.
- Obtain the information you need to contact and recruit successful brokers.
Where do you get your data?
We obtain our data directly from the Schedule A of the Form 5500 plan disclosure documents collected by the Department of Labor from approximately 80,000 group policies. We employ a series of proprietary algorithms and processes to verify and amend the raw government data to present a clear picture of the U.S. large group insurance market, complete with detailed broker contact information.
What is the Form 5500?
The Employee Retirement Income Securities Act (ERISA) requires U.S. companies offering health or welfare plans to their employees to submit to the Department of Labor a Form 5500, which includes a wealth of information about the company and the plans they offer.
What kind of information is included on the Form 5500?
The Form 5500 includes a large amount of detail about each qualifying plan in the United States. The data the form collects includes:
- Broker location
- Plan type
- Total premiums
- Lives covered
- Commissions paid
How current is the data?
While there are exceptions, the plan sponsor must generally file their 5500 within 7 months of the plan year end. Historically, it then took the Department of Labor and the IRS another 12 months to process and disclose the plan data but a new government filing system has reduced that time significantly.
How often do you update the data?
New data is generally added on a quarterly basis, depending largely on the release schedule of the Department of Labor and the IRS.
How long will I have access to the data?
Subscriptions are sold on an annual basis. You will have access to this database for one year from your date of purchase.
Is there a limit to the number of times I can contact companies or people I find in the Brokers and Carriers Market Share Database?
We don’t place a limit on the number of times you can contact companies in the Brokers and Carriers Market Share Database, but we recommend that you employ industry best practices when determining the frequency of your contacts.
I am a list reseller. Can I purchase your contact data and distribute them to my customers?
No. Purchasing access to our data is strictly for your individual use. Please view our License page for more details.
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