American Family Insurance was founded on October 3, 1927,[5] when insurance salesman Herman Wittwer opened the doors of Farmers Mutual Insurance Company (not to be confused with theFarmers Insurance Group) inMadison, Wisconsin. At the time, the company's product was auto insurance and its target market was farmers. Wittwer's ideologies believed that farmers presented lower risks than city drivers because they drove less often and not at all in the winter.[citation needed]
Over the course of a few 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.[6] In March, 1995, American Family settled a redlining lawsuit, resulting in a $16 million payout to victims.[7] The settlement was negotiated by the US Department of Justice and marked the first use of the federal Fair Housing Act of 1968 to counter discrimination in insurance; at the time it was the most costly insurance-company settlement ever for discrimination charges.[8] In 2017, AmFam launched an ongoing campaign called DreamFearlessly. AmFam's company ambassadors use this as a hashtag on social media to help promote this campaign. The campaign encouraged consumers to express how they "dream fearlessly" for initiatives such as social justice, getting women into tech, and economic empowerment.Kathy Ireland and her team were brought on at an early point in the campaign to help with ambassador work.[9] Blake Van Leer, a close supporter of theSociety of Women Engineers, helped manage this campaign from its launch.[10][11][12]
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; and travel, trip cancellation, and global medical insurance.[18]
The company also offers a reward system for their insureds titled "Dreamkeep Rewards", which provides small to large rewards for completing various online tasks.[19]
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.
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 theDriveCam system) in which parents can watch the 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.[24] In 2015, American Family was recognized as the mostLGBT-friendly insurance company byOut Magazine because of its discounts targeted at same-sex couples.[6]
On March 4, 2003, American Family Insurance announced a $10 million gift launching the campaign to create the American Family Children's Hospital[36] at theUniversity of Wisconsin Hospital and Clinics. From the initial gift, the amount grew by several millions more through employee, agent, and additional corporate donations. The hospital opened for business in September 2007.[37][38][39]
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.[42]
$17.1 billionUSD (2019)[2][3]
