American Family Insurance's history began on October 3, 1927, when insurance salesman Herman Wittwer opened the doors of Farmers Mutual Insurance Company in Madison, Wisconsin. 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. 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:
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 The company also offers a reward system for their insureds titled "Dreamkeep Rewards," which provides small to large rewards for completing various online tasks.
Below is a list of milestones in the corporate history of American Family Mutual Insurance.
1927 Farmers Mutual Automobile Insurance Company was founded on Oct. 3 in Madison, Wis.
1938 Both premiums and assets surpassed $1 million.
1957 Farmers Mutual began to offer sickness and accident insurance.
1958 Company introduced homeowners insurance and opened American Family Life Insurance Company.
1959 Farmers Mutual entered the computer age with the RAMAC 305.
1961 American Standard began sales.
1962 Company began to offer farmowners insurance.
1963 Policyholders gave final approval to change the company's name to American Family Mutual Insurance Company.
1969 American Family Financial Services opened.
1975 Commercial Lines was introduced. American Family became the fifth-largest mutual auto insurer.
1981 Assets surpass $1 billion. American Family became the fourth-largest mutual auto insurance company.
1985 American Family Brokerage, Inc. opened.
1986 American Family posted its first $100 million operating gain.
1992 Policyholders' surplus exceeded $1 billion.
1994 American Family rolled out its catastrophe trailer. The company ranked as the 11th-largest property/casualty insurer.
1996 American Family first appeared on the Fortune 500 list at number 403.
1997 American Family became the 10th-largest property/casualty insurer in the nation. Assets surpassed $8 billion.
2001 American Family Securities, LLC introduced variable products. Assets for American Family Mutual Insurance Company exceeded $10 billion.
2001 Furthers expansion into Utah and Idaho. American Family in 17 states across the U.S.
2002 American Family celebrated its 75th anniversary.
2003 American Family donated $10,000,000.00 towards construction of the future UW Children's Hospital, to be named American Family Children's Hospital.
2006 Furthers expansion into Washington State. American Family in 18 states across the U.S.
2009 Furthers expansion into Georgia. American Family in 19 states across U.S.
2013 American Family Insurance completes its acquisition of Homesite Insurance
2016 Became the inaugural jersey sponsor of the 2017 MLS expansion team Atlanta United FC
2017 American Family Insurance completes its acquisition of HomeGauge® and Networked Insights
2018 American Family completes merger with Florida-based insurance company, The Main Street America Group
2019 American Family Insurance and the Milwaukee Brewers announced a fifteen-year naming rights agreement to rename Miller Park after the 2020 season.
2019 American Family Insurance completes its acquisition of Ameriprise Auto & Home
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 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. In 2015, American Family was recognized as the most LGBT-friendly insurance company by Out Magazine because of its discounts targeted at same-sex couples.
Ambassadors
American Family Insurance has a unique ambassador program to inspire and encourage people to pursue their dreams. Notable ambassadors include:
Kathy Ireland an American model and actress turned author and entrepreneur.
Derek Jeter an American former professional baseball shortstop, businessman, and baseball executive.
John Legend an American singer, songwriter, producer, actor, and philanthropist.
Steve Stricker is an American professional golfer who plays on the PGA Tour and the PGA Tour Champions.
J. J. Watt an American football defensive end for the Houston Texans of the National Football League.
Christian Yelich is an American professional baseball outfielder for the Milwaukee Brewers of Major League Baseball.
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 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.
In 2007, and again in 2008, employees donated close to $1 million to United Way.
Covid-19 pandemic support
In April 2020, the company estimates the refunds to reflect $225 million in liquidity, contributing to the $200 million gain on personal insurance holders' premiums. American Family Insurance provides an additional COVID-19 pandemic mitigation premium of 10% on car policies.
