Goosehead Insurance is an independent personal lines insurance agency that brokers home, auto, umbrella, and other personal lines policies between consumers and carriers across the U.S. Unlike captive agents tied to a single carrier, Goosehead shops over 200 carriers on behalf of clients, which is its core value proposition. Goosehead earns commissions from carriers — averaging around 14% on new business and 12% on renewals — rather than underwriting risk itself. Goosehead distributes through three channels: company-owned corporate offices (~13% of total written premium), a franchise network of ~1,009 independent agencies (~81% of total written premium), and a fast-growing enterprise partnerships channel that routes leads from mortgage servicers, originators, and real estate companies. A key structural feature is the separation of sales and service: agents focus solely on new business, while centralized service teams handle renewals and policy changes, which Goosehead argues makes its agents materially more productive than the industry norm. Franchisees pay royalties of 20% on new business commissions and 50% on renewals, meaning franchise revenue becomes more profitable as the book seasons. Growth levers include expanding franchise count and productivity, growing the enterprise partnership channel (which management views as potentially its largest growth driver), and Digital Agent 2.0 — a proprietary platform enabling end-to-end online policy binding across multiple carriers, which launched in Texas in late 2025 with broader rollout planned.