American Family Insurance

American Family Insurance
Mutual
Industry Insurance & Finance
Founded 1927
Headquarters Madison, Wisconsin, USA
Key people
Jack Salzwedel, Chairman and CEO[1]
Products Auto, Home, Life, Health and Commercial Insurance
Revenue Increase$6.742 billion USD (2008)[2]
Increase$360.5 million USD (2012)[3]
Slogan All your protection under one roof
Website American Family Insurance - www.amfam.com

American Family Insurance (aka AmFam) is a private mutual company that focuses on property, casualty and auto insurance, but also offers commercial insurance, life, health, and homeowners coverage, as well as investment and retirement-planning products. A Fortune 500 company, its revenues for 2008 were over $6.7 billion.[2][4]

It should not be confused with American Family Home Insurance Company, a subsidiary of Munich Re subsidiary American Modern Insurance Group, Inc., or American Family Life Insurance Company of Columbus.

History

American Family Insurance's history began on October 3, 1927,[5] when insurance salesman Herman Wittwer opened the doors of Farmers Mutual Insurance Company in Madison, Wisconsin (not to be confused with the Farmers Insurance Group). At the time, the company's only product was auto insurance and its target market was farmers. Wittwer believed farmers presented lower risks than city drivers because they drove less often and not at all in the winter.[5]

Over the years, Farmers Mutual expanded its market and product line to meet the changing needs of its customers. In 1963, Farmers Mutual changed its name to American Family Mutual Insurance Company to reflect its broader customer base.

Subsidiaries

Companies of the American Family Insurance Group include:[6]

Products

American Family insurance products include: term, universal, and whole life insurance; personal and business auto insurance, personal umbrella insurance, home insurance; motorcycle, boat, motor home, snowmobile and car insurance; business liability key policy, and business policy package insurance; farm and ranch liability insurance; travel, trip cancellation, and global medical insurance[10]

Operating Territory

The American Family Insurance Group is based in Madison, Wisconsin, and in 2011 had regional offices in Eden Prairie, Minnesota, Saint Joseph, Missouri, Denver, Colorado and Columbus, Ohio among others. In October 2011 it announced that it was downsizing its claims regional and branch offices from twelve to four. Layoffs occurred at the remaining offices in 2012.[11]

Significant Milestones

Below is a list of milestones in the corporate history of American Family Mutual Insurance.

Awards

In 2010, National Safety Council selected American Family Insurance as a recipient of its Teen Driving Safety Leadership Award. Through its “Teen Safe Driver Program,” the company has provided, a video feedback program (using the DriveCam system) in which parents can watch the actual driving actions of their teens. The program was validated by scientists at the University of Iowa to produce a 70% reduction in risky driving behavior. [12]

Charitable contributions

American Family Children’s Hospital

On March 4, 2003, American Family Insurance announced a $10 million gift launching the campaign to create the American Family Children’s Hospital[13] at the University of Wisconsin Hospital and Clinics. From that initial gift, the amount grew by several millions more through employee, agent and additional corporate donations. The hospital opened for business in September 2007. [14] [15] [16]

United Way

In 2007, and again in 2008, employees donated close to $1 million to United Way.[17][18]

References

External links

This article is issued from Wikipedia - version of the Sunday, September 06, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.