Insurance brokering, risk management, and insurance services for government entities.
Federal Spending
$1B+ annually
Market Outlook
Stable demand (+2% annually). Government benefits complexity = ongoing need for insurance expertise.
Small Business Threshold: $15.0M
Calculated on a 5-year average annual receipts (gross). Businesses with average revenue or headcount at or below this ceiling may qualify as small businesses for prime federal solicitations assigned NAICS 524210, subject to affiliation and program rules.
Common Federal Contracts
Government employee benefits administration
Risk management consulting
Claims administration
Insurance brokering services
Contractor Competitive Advantage
Insurance expertise = high value. Government employee benefits = large contracts. Recurring revenue from contracts.
Relevant Certifications
8(a)
WOSB
Top Procuring Agencies
How to Win in This Sector
- 1. Verify Your NAICS: Make sure this NAICS code matches your primary business activity. You can only claim set-asides for your primary NAICS.
- 2. Apply for Certifications: Most contracts in this sector allow 8(a), WOSB, HUBZone, or SDVOSB certifications. These give you advantages in bidding.
- 3. Target Top Agencies: Identify the top 3 agencies hiring in this sector and research their procurement needs.
- 4. Assess Your Advantage: Review the competitive advantages above and determine how your firm differentiates.
- 5. Build Relationships: Attend industry days, connect with contracting officers, and respond to RFIs (Requests for Information).
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