Felix Morgan, CEO and chairman of Trucordia, recently discussed the company's integration strategies, acquisitions, and use of artificial intelligence in a report published October 26. Morgan leads the Lindon, Utah-based brokerage, which was formerly known as PCF.
Trucordia has grown rapidly through approximately 300 acquisitions and currently ranks as the 18th-largest brokerage of U.S. business. Managing between $8 billion and $9 billion in premium, the company recently underwent a rebrand from PCF to Trucordia to create a center of gravity for its growing organization. Morgan noted that the rebranding was necessary after a client pointed out the confusion of dealing with multiple different business cards and identities during a single visit.
Regarding growth, Morgan stated that organic growth in the current soft market is closer to low-single-digit percentages rather than the previous 7% to 10%. To maintain growth, the company focuses on client retention and new sales. While the company previously focused on building size and scale, Morgan said current acquisitions are driven by seeking new geographies or strategic specialties.
The company is utilizing Trucordia Go as an artificial intelligence foundation layer. Originally a personal lines platform, the tool has evolved into an internal tool that can reduce information searching time from several hours to approximately one minute. Trucordia is currently working to expand the use of this technology into small commercial lines, including a planned pilot for an auto dealer channel to facilitate insurance sales at the point of transaction.
Morgan joined the brokerage in 2021 as chief financial officer. He later served as chief operating officer before being named CEO in 2023 and chairman in 2025. His professional background includes senior finance positions at Ancestry.com, CareXM, and Cotiviti.
The company completed a major recapitalization last year to consolidate institutional minority investors, which included bringing on Carlyle as a large minority investor.
