Our Story

In 2012

Risk Theory

Is formed with the idea of starting a collection of brands that are independently focused on specialty areas of insurance services. Our vision is to identify, recruit, and ultimately hire the best talent in niche classes and provide the support, autonomy, and accountability to build a unique brand within the insurance marketplace. Together these independent brands form a platform that share central services that are committed to technology and analytics. Teams challenge each other to break apart the business to identify opportunities and rebuild the product, distribution process, and claims handling to create a unique solution to difficult problems in the marketplace.

2013

Risk Point is formed, partnering with Gary Marshall to lead a Dealers Open Lot MGU

2014

FIREARMS LEGAL PROTECTION IS FORMED, DEVELOPING A LEADING SELF-DEFENSE LEGAL SERVICES PRODUCT

2015

RISK POINT GARAGE IS FORMED TO UNDERWRITE GARAGE PACKAGE FOR AUTO DEALERSHIPS

2015

Risk Theory Insurance Services is formed to provide a specialty underwriting platform

2016

APPLIED CLAIMS GROUP IS A THIRD PARTY ADMINISTRATOR FORMED TO PROVIDE SPECIALTY CLAIMS SERVICES

2016

RISK THEORY DEALER ADVISORS IS FORMED, DEVELOPING A LEADING F&I PROVIDER

2017

APPLIED APPRAISAL SOLUTIONS IS FORMED TO PROVIDE APPRAISAL SERVICES FOR PROPERTY DAMAGE

2019

REDSTONE UNDERWRITERS IS FORMED TO UNDERWRITE GENERAL LIABILITY FOR ARTISAN CONTRACTORS

2019

MADIS IS FORMED TO DELIVER MANUFACTURER AND DEALER INSURANCE SOLUTIONS

2020

STRIKER INSURANCE SERVICES IS FORMED TO UNDERWRITE MONO-LINE COMMERCIAL AUTO

Risk Theory Today

Risk Theory

Risk Theory companies currently employ over 220 individuals within 8 offices and have remote team members in over 30 states.  In 2021, our collective brands will transact over $1B in premium.  We continue to focus on identifying unique opportunities in the marketplace, partner with talented and like-minded insurance professionals, and build brands to a market leading position.

ceo and founder

BRYAN WILBURN

Bryan began his career as a transactional wholesale broker in the early 1990’s.  He founded Southwest Risk in 2004, which he grew into one of the largest commercial property insurance programs in the United States.  After selling the business in 2008, he remained as CEO until 2011.  He started Risk Theory in 2012. As CEO, Bryan provides strategic direction to the operations and growth of the businesses.  Bryan is a graduate of the University of Texas at Austin.

CFO

Jarred Brown

Jarred joined Risk Theory in 2013. He has a unique blend of financial and operational experience with over 18 years of experience within financial service industries. His background includes serving in a variety of investment and operational roles for a leading middle market private equity firm, working within companies and on transactions in healthcare service and financial service industries. Jarred leads the centralized support teams of Risk Theory including the accounting and the analytics teams. Jarred is a graduate of Birmingham-Southern College in Birmingham, Alabama.

General counsel and cco

Richard Schwartz

Richard joined Risk Theory in 2015 as General Counsel.  He has represented or worked within the insurance industry for 28 years.  He was an insurance trial attorney for Wilson, Elser and then was in-house counsel for Alexander & Alexander.  Richard later joined U.S. Risk Insurance Group as the President of Professional Claims Managers, its specialty Professional Liability TPA, where he served for 10 years.  Richard subsequently expanded into dual roles with U.S. Risk Insurance Group remaining as President of Professional Claims Managers, and also serving as U.S. Risk’s General Counsel and Chief Compliance Officer for 18 years before joining Risk Theory. Richard leads the compliance and legal support for all brands at Risk Theory. Richard earned his bachelor’s degree from the University of Maryland College Park and his Juris Doctor degree from the University of Baltimore Law School. 

Executive Vice President – Risk Theory insurance services

Ed Sustala

Ed joined Risk Theory in 2016, formerly leading Applied Claims Group.  Ed has 24 years of insurance, management, operations, and insurance finance experience. He has held multiple executive level positions during his insurance career. Ed started his journey with Progressive Insurance in the mid 1990’s where he managed personal and commercial auto product lines.  Ed earned his bachelor’s degree from Sam Houston State University in Huntsville, Texas.

Click the button to Learn how to Partner with us.