American Family Insurance
American Family Insurance
AMERICAN FAMILY INSURANCE
6000 American Parkway
Madison, WI 53783
American Family Insurance is a private mutual company whose products are composed of the following: Auto Insurance, Umbrella Insurance, Life Insurance, Home Insurance, Health Insurance, Retirement Insurance, Business Insurance, and Farm & Ranch Insurance. The company changed its name to American Family Mutual Insurance Company in 1963. It is in the list of the Fortune 500 companies, has revenues of over $6.7 billion in 2008.
Herman Wittwer was an insurance salesperson and believed in the concept of selling auto insurance to farmers located in Wisconsin. Thus, on October 3, 1927, the Farmers Mutual Automobile Insurance Company was born. The initial focus was with the farmers because Mr. Wittwer believed that they posed lower risks compared to the urban city drivers. Through hard work and diligence, its market started growing from small town to the metropolitan areas. Together with the expansion of its customer base, the products grew to include a variety of insurance products focusing on commercial insurance, automobile insurance, life insurance, retirement insurance, and the like. Of present date, the company operates in 19 states all the way from Washington to Ohio.
Due to company stability and strong customer relationships, the company’s policyholder equity reached over $4.8 billion.
After being in the insurance business for over 80 years now, the company has opened a number of subsidiaries which include: American Family Life Insurance Company (AFLIC),American Family Mutual Insurance Company (AFMIC), American Family Securities, LLC (AFS)American Standard Insurance Company (ASIC), American Family Brokerage, Inc. (AFB), American Standard Insurance Company of Ohio (ASICO), , and the Amfam.com Inc.(AMFAM), American Family Insurance Company of Ohio (AFICO),
With over 4,000 agents in 2007, the company is currently serving 19 states: Arizona, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington, and Wisconsin. Much of the company’s success is their agents. They are trained to have personal knowledge of company products and customize them to create a unique product for each individual. This is the reason why they were given the “An Outstanding Customer Experience” award.
In 1957, the company started offering sickness and accident insurance products to the market. A year later, it established the American Family Life Insurance catering to the homeowners. In 1959, it entered the computer age with the use of RAMAC 305 for its database system.
In 1975, American Family introduced commercial lines to the market and thus became the largest mutual auto insurer. With assets surpassing $ 1Billion in 1981, the company became one of the largest mutual auto insurance companies.
It’s growth continued and in 1986 it posted its first $100 million gain. After 11 years, its assets reached $ 8 Billion.
American Family also believes in the environment, has taken efforts in preserving nature by reducing greenhouse effects, recycling, and reusing of materials, increase lighting efficiency, less use of papers, conservation of water and the like.
Part of the company’s corporate mission is in giving back to the communities. Over the years, it has made significant contributions to nonprofit, charitable and community organizations in all the 19 states where it operates. Most of the contributions go each year to the United Way chapters. The company founded American Family Children’s Hospital in 2007.