Company Research Report: Missouri Employers Mutual (MEM)
Company Overview
- Name: Missouri Employers Mutual (MEM)
- Mission: MEM strives to keep workplaces safe, strong, and productive through personalized service and a commitment to employee safety.
- Founded: Established in 1993 by the Missouri legislature to provide affordable workers' compensation insurance.
- Key People:
- Roger Walleck: President and CEO
- Andy Ribaudo: VP, Chief Financial Officer
- Jennifer Barth: VP, Chief Legal and Claims Officer
- Jennifer Peck: VP, Chief Strategy & Customer Experience Officer
- Rene Tettleton Eslinger: VP, Chief Revenue Officer
- Kevin Miller: VP, Chief Transformation Officer
- Headquarters: Columbia, Missouri, USA.
- Number of Employees: Coverage includes over 200,000 lives.
- Revenue: Premium revenue of $199.6 million in 2023.
- What the Company is Known For: MEM is known for providing industry-leading workers' compensation insurance, emphasizing safety and personalized service in the Midwest.
Products
- Workers' Compensation Insurance:
- Description: MEM provides a comprehensive workers’ compensation insurance policy aimed at protecting businesses and employees against work-related injuries.
- Key Features:
- Multistate coverage across Arkansas, Illinois, Iowa, Kansas, Missouri, Nebraska, and Tennessee.
- Proactive safety and wellness programs to reduce workplace injuries.
- Claims handling with a focus on efficient and customer-friendly service.
- Access to NurseAid and 24/7 Work Injury Line in collaboration with Medcor for timely injury management and claims reporting.
Recent Developments
- New Products and Features:
- Medcor Partnership Launch (May 2024): Introduction of Medcor as the new telephone nurse triage vendor to streamline care for injured workers and provide telemedicine services.
- Safety Grant Program Expansion (January 2025): Safety Grant program now available in six additional states beyond Missouri to increase safety outcomes.
- Financial Developments:
- Annual Highlights (2023):
- Growth: Increase in customer base and premium revenue.
- Profitability: Net income of $23.6 million, boosting policyholders’ equity to $303.3 million.
- Structural Developments:
- Rebranding and Growth (2025): Transitioned to MEM, following the merger of Missouri Employers Mutual and Previsor, becoming a private mutual insurance company to enhance geographic reach.
- Board and Leadership Changes:
- Tim Jackman’s (Previsor) Retirement (End of 2024): Concluding nearly three decades of service and leadership across MEM and Previsor.
- Advisory Council Expansion (2025): Six new members added to the Agents’ Advisory Council to provide diverse perspectives, strengthen partnerships, and inform marketing strategies.
Conclusion
MEM remains a robust and financially stable entity dedicated to comprehensive workers’ compensation solutions throughout its service area. With enhancements in client service offerings, including the strategic partnership with Medcor and the expansion of its Safety Grant Program, MEM continues to prioritize workplace safety and policyholder satisfaction. These initiatives, accompanied by a solid financial performance, illustrate MEM's commitment to innovation and growth within the insurance sector.
