Indiana Farm Bureau Insurance Company Research Report
Company Overview
Name
Indiana Farm Bureau Insurance
Mission
Indiana Farm Bureau Insurance is on a mission to do more than just provide products and services; the company intends to protect families through a network of resources and trusted advisors, practicing the principle of treating others as one would like to be treated.
Founded
The company was established on October 17, 1934, by Indiana Farm Bureau to provide better insurance options for Hoosier farmers.
Key People
- Kevin Murphy - Executive Vice President, Chief Executive Officer
- Nick Cebulko - Senior Vice President, Chief Financial Officer & Treasurer
- Jo Lee Hayes - Senior Vice President, Chief Information Officer
- Kristin Keltner - Senior Vice President, General Counsel, and Secretary
- Rick Kuster - Senior Vice President, Chief Marketing Officer
- Jeff McDonald - Senior Vice President, Property & Casualty
- Mark Miske - Senior Vice President, Life
Headquarters
Indianapolis, Indiana, USA
Number of Employees
The company employs over 1,200 individuals and has more than 430 agents across the state of Indiana.
Revenue
No information is available.
Known For
Indiana Farm Bureau Insurance is known for providing a range of insurance and financial products to Hoosier residents, including auto, home, life, farm and crop, business, and renters insurance.
Products
Auto Insurance
- Offers comprehensive auto coverage options for cars, trucks, RVs, ATVs, and motorcycles.
- Key Features:
- Liability coverage for accidents
- Auto damage coverage
- Discounts available for low mileage, paperless policy, multi-line policies, accident-free history
- DriveTrend® app for tracking driving habits and gaining premium discounts
- Roadside Assistance services including towing, jump starts, and tire service
Home Insurance
- Provides protection for homes, offering customizable policy options to fit various needs.
Renters Insurance
- Offers financial protection for renters covering personal property and liability.
Life Insurance
- Includes a range of life insurance products for different life stages and needs.
Farm and Crop Insurance
- Specialized insurance for farmers to insure their machinery and equipment.
Business Insurance
- Offers various business insurance products to cover a wide range of business needs and industries.
Recent Developments
Leadership Changes
- Indiana Farm Bureau Insurance announced changes to its executive leadership team, with Mark Miske becoming the senior vice president of the life insurance division and Nicholas Cebulko promoted to senior vice president, chief financial officer, and treasurer.
New Products and Features
- Launched a "Drive Less, Save More" discount for auto insurance, offering up to 10% savings on policies based on mileage.
- The DriveTrend® app introduced for comprehensive tracking of driving habits.
Partnerships
- Continued partnerships with Indiana University and Purdue University, sponsoring events such as the 2024 IU and Purdue Football Sweepstakes.
- Collaborates with various local charitable organizations through volunteerism and donations to support Indiana communities.
Community Involvement
Indiana Farm Bureau Insurance donates 1% of the prior year’s net income to donate to Indiana non-profit organizations and encourages employees to participate in volunteerism through their IFBI Community program.
Financial Strength
The company and its subsidiaries maintain a strong financial standing, with ratings of A (Excellent) from AM Best, demonstrating long-term stability and reliability in providing insurance.
Industry Recognition
The company has consistently maintained high ratings from AM Best for its financial strength and ability to fulfill its claims obligations.
This report provides a detailed overview and information about Indiana Farm Bureau Insurance focusing on its historical context, product offerings, notable recent developments, and emphasis on community and financial stability.
