In 1986, Don Sr., Don Jr., and Blake formed a life insurance partnership called Woodard Insurance. This partnership was the first licensed life insurance partnership in the state of Texas. Life insurance partnerships were such a revolutionary idea that Woodard Insurance had to lobby the Texas Legislature and the Commissioner of Insurance (now the Texas Department of Insurance) to allow life insurance partnerships to be licensed.

Woodard Insurance formed a joint insurance marketing venture with Travis and Louise Key of Mineral Wells, Texas, in 1989. The Keys had been the center of the life insurance business in Palo Pinto County for almost 50 years. The venture operated under the name Key-Woodard Insurance until 2001, when Woodard Insurance bought out the Keys' interest. Woodard Insurance, LLP, continues to provide insurance services to citizens and businesses of Palo Pinto County.

The firm holds the first and only HMO partnership licensed issued by the Texas Department of Insurance. Woodard Insurance, LLP, lobbied the Texas Department of Insurance to permit HMO licensing of partnerships in 1996. Shortly after the firm received the first HMO partnership license issued by the State of Texas, Texas merged HMO licenses into the life insurance license. As a result, no firm other than Woodard Insurance, LLP, ever will hold an HMO partnership license.

In 1992, the partners of Woodard Insurance, LLP, started another firm, Insurance Consulting Group, Inc., which provides fee-based insurance consulting services.

On January 1, 2001, Blake Woodard bought out Don Woodard Jr.'s interest in Woodard Insurance, LLP, and Insurance Consulting Group, Inc. Today, Blake Woodard and Don Woodard, Sr., are the two partners of Woodard Insurance, LLP, and Insurance Consulting Group, Inc.