GuideOne Insurance
 | |
| Mutual | |
| Industry | Insurance |
| Founded | Des Moines, Iowa USA, (1947) |
| Headquarters | West Des Moines, Iowa USA |
Key people |
Jim Wallace (Chairman, President and CEO) |
| Products |
Church Insurance Auto Insurance Home Insurance |
| Revenue |
 $586.8 million USD (YE 2014) |
Number of employees | 704 (YE 2014) |
| Website | www.guideone.com |
GuideOne Insurance, is a niche market insurer based in West Des Moines, Iowa, and is one of the largest church insurers in the United States. The company is licensed in all 50 states. As of year-end 2013, the company had a total surplus of $553.4 million.
History
- 1946– William N. Plymat [1] sent 10,000 letters to ministers and laymen, asking their views on the idea of an insurance company that would insure only total abstainers from alcohol at lower rates than other carriers. The belief was that non-drinkers would be in fewer accidents than those that did drink. The company was established as America's first auto insurance company for nondrinkers.
- Dec. 26, 1946 – Preferred Risk Mutual Insurance Company (PRM) was organized in Des Moines, Iowa, with $30,000 capital contributed by Plymat, J.J. Mallon and Reverend Sam Morris. Morris, a popular radio host, was elected the first president of the company.
- April 1, 1947 – Preferred Risk Mutual Insurance Company was licensed to operate in Iowa.
- 1948 – A "merit reduction" plan was introduced, which was the first of its kind in the country. Policyholders received a 15 percent reduction in premium at their first annual renewal if they didn't file claims, with further reductions of 5 percent each year until a maximum of 40 percent was reached.
- Sept. 1, 1948 – Midwest Mutual Insurance (MM) was formed to offer motorcycle coverage.
- 1962 – The company introduced America's first multiple-peril package policy for churches.
- 1968 – A new home office building was planned at 1111 Ashworth Road in West Des Moines. The $2.5 million building received recognition from Administrative Management magazine as a finalist in the "Office of the Year" competition. The company is headquartered at this location today.
- 1972 – The no-fault automobile insurance,[2] introduced by PRM in 1969 as "Auto-Matic Pay" generated legislation at the state and national levels. The Connecticut Legislature acted to make a similar plan mandatory throughout the state. Today, some form of this policy is available to car owners everywhere, and the concept is universally recognized as a staple coverage in insurance packages.
- 1980 – The Preferred Risk family provided seed money to help establish MADD, Mothers Against Drunk Driving, as a national organization.
- 1990 – PRM provided MADD with a $2 million donation, their single largest contribution to date.
- 1998 – Preferred Risk changed its name to GuideOne Insurance to help create a more recognizable product and brand name.
- 1999 – GuideOne received the Integrity Award from the Iowa Better Business Bureau.
- 2005 – GuideOne was selected as one of the "Principal 10 Best Companies for Employee Financial Security." [3]
- 2011 – GuideOne was named to Ward's 50 Top Performing Insurance Companies.[4]
- 2012 – GuideOne was named to Ward's 50 Top Performing Insurance Companies for the second year in a row.[5]
- 2013 – GuideOne was named to Ward's 50 Top Performing Insurance Companies for the third year in a row.[6]
- 2014 – GuideOne was named to Inc. 5000's list of the fastest growing private companies in the United States. The Inc. 5000 is ranked according to percentage revenue growth over a three-year period.[7]
Corporate Sponsorships
GuideOne partners with the Downtown Community Alliance each year to host GuideOne ImaginEve!,[8] a free, non-alcoholic New Year's Eve celebration for families. The event features rides, activities, games and entertainment for the entire family, including a fireworks finale. This family event encourages family members of all ages to participate in a wide variety of activities.
See also
References
- ↑ <http://www.iihof.org/Objects/Profiles/97_Plymat.pdf>
- ↑ http://news.google.com/newspapers?nid=950&dat=19690324&id=st0LAAAAIBAJ&sjid=VlcDAAAAIBAJ&pg=3739,5590061
- ↑ http://www.guideone.com/AboutUs/history.htm
- ↑ http://www.wardinc.com/wards50/property-casualty.php
- ↑ http://www.wardinc.com/wards50/property-casualty.php
- ↑ http://www.wardinc.com/wards50/property-casualty.php
- ↑ http://www.inc.com/inc5000/index.html
- ↑ http://www.downtowndesmoines.com/events-page/imagineve
External links
- GuideOne Insurance Official website
- Ward's Top 50 Performing Insurance Companies
- Official YouTube Channel
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