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

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

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

2020

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

2021

JUPITER RISK SERVICE IS CREATED TO PROVIDE INSURANCE SOLUTIONS FOR THE HABITATIONAL MULTI-FAMILY COMMERCIAL MARKET.

Risk Theory Today

Risk Theory

Risk Theory is a leading platform of insurance distribution businesses built to support specialty underwriting, disciplined risk selection, and scalable program economics. The company operates a diversified portfolio of Managing General Agents that deliver integrated distribution, underwriting, claims, analytics, and compliance capabilities across multiple specialty insurance markets. Risk Theory focuses on identifying differentiated opportunities, partnering with high caliber insurance professionals, and building durable businesses positioned for long term leadership within their respective niches.


The platform was founded and is led by Bryan Wilburn, whose experience building and scaling insurance distribution businesses has shaped Risk Theory’s strategy, operating model, and long term vision.

Executive Leadership

BRYAN WILBURN

Founder, Chairman & Chief Executive Officer

Bryan Wilburn founded Risk Theory in 2012 to build a scaled specialty insurance platform focused on underwriting discipline, aligned incentives, and durable program economics. He previously founded Southwest Risk and grew it into a leading commercial property program manager prior to its sale, establishing a proven track record of building and monetizing insurance distribution businesses.


Bryan brings more than 30 years of experience across wholesale brokerage, program management, and insurance operations. As Founder, Chairman, and CEO of Risk Theory, he has led the firm’s evolution from a single brand program manager into a diversified insurance distribution platform, overseeing strategic growth initiatives, capital formation, and the development of a repeatable operating model across the enterprise.


Under Bryan’s leadership, Risk Theory has emphasized disciplined underwriting, strong reinsurance partnerships, and long term value creation over transactional growth. He leads enterprise strategy, senior leadership development, and platform governance, ensuring alignment between underwriting performance, operational execution, and capital stewardship.

Gary Marshall

President, Insurance Operations
Gary Marshall joined Risk Theory in 2013 and leads insurance company operations and program oversight across the platform. His background spans claims, underwriting, and carrier operations, with specialization in auto dealer and garage programs. Gary brings more than 40 years of experience in specialty insurance. At Risk Theory, he is responsible for underwriting alignment, carrier relationships, and consistent performance across the platform’s regulated insurance entities.

Jarred Brown

Chief Financial Officer
Jarred Brown joined Risk Theory in 2013 and serves as Chief Financial Officer, with responsibility for enterprise finance, shared services, and capital strategy. He brings more than 20 years of experience across finance, operations, and private equity backed businesses. At Risk Theory, Jarred partners with executive leadership on financial governance, performance management, capital stewardship, and platform scalability.

Richard Schwartz

General Counsel & Chief Compliance Officer
Richard Schwartz joined Risk Theory in 2015 and leads legal, regulatory, and compliance functions across the enterprise. His background includes senior leadership roles at a leading middle market insurance distribution business, where he served as President of a professional liability TPA, General Counsel, and Chief Compliance Officer. Richard brings more than 35 years of experience advising and operating within the insurance industry and provides governance oversight supporting sustainable growth. 

John L. Garner

Chief Risk Officer
John Garner joined Risk Theory in 2020 and serves as Chief Risk Officer for the platform. His background includes serving as CFO of multiple insurance groups, President of three insurance companies and on the Board of Directors of ten carriers. John brings more than 40 years of experience in insurance company leadership. At Risk Theory, he oversees enterprise risk governance, reinsurance strategy & execution, and financial discipline across the platform’s regulated insurance entities.

Platform Operations & Risk Management

Ed Sustala

EVP, Revenue & Operations
Ed Sustala joined Risk Theory in 2016 and leads revenue and operational alignment across the Risk Theory platform, focusing on ensuring programs are well positioned for their target markets and supported by scalable operating models. Ed brings nearly 30 years of experience, spanning claims, underwriting, operations, and compliance. He works closely with underwriting teams and distribution partners to translate market feedback into effective program execution, supporting consistent performance and sustainable growth.

Mike Dial

EVP, Underwriting & Portfolio Management
Mike Dial joined Risk Theory in 2013 and supports underwriting and portfolio oversight activities across the platform and works closely with internal teams to help ensure consistency with established underwriting and risk management objectives. Mike contributes to the execution of underwriting standards and portfolio monitoring efforts in alignment with the company’s broader operating framework.

Click the button to Learn how to Partner with us.