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More than half a century ago, and long before "niche marketing" and "corporate citizenship" were popular business strategies, GuideOne Insurance was founded upon two key philosophies that endure to this day: a commitment to social responsibility and a dedication to serving customers in select niche markets.
During the mid-1940s, William N. Plymat, an insurance executive and attorney, set out to create an auto insurance company that would insure non-drinkers at lower rates. Plymat believed the company would incur fewer losses because drivers who did not drink would avoid accidents. On April 1, 1947, GuideOne Mutual Insurance Company (then known as Preferred Risk Mutual Insurance Company) became licensed to operate in Iowa.
Company History Highlights
The 1950s - In 1958 Preferred Risk Life was established to provide life coverage for non-drinkers.
The 1960s - The country's first multiple peril package policy for churches was introduced in 1962, and the sales force grew to 475 agents. By 1966, the group's life insurance products were actively sold in 29 states with over 900 agents. Toward the end of the decade, the company moved to a new home office constructed in West Des Moines.
The 1970s - By 1975, the company's insurance written on churches increased substantially and the life operation had become a thriving business with over $500 million of insurance in force. William N. Plymat, founder and Chairman of the Board retired in 1976. In 1977, GuideOne Mutual's premiums exceeded $84 million. The following year, it was licensed in 38 states with 1,975 agents.
The 1980s - As part of its ongoing social mission, in 1980 the company donated seed money to help Mothers Against Drunk Driving (MADD) expand nationally. Net premium written for all companies combined to nearly $175 million in 1988.
The 1990s - In 1990, total net premium for all companies in the group had grown to $234 million. A year later, the life operation achieved $2 billion of insurance in force. In the mid-1990s, the company's mutual ownership structure was simplified and a common name was adopted to create a unified, identifiable product and a strong national brand. In 1999, the company received an Integrity Award from the Iowa Better Business Bureau.
Our Future
Much has changed at GuideOne since its inception in 1947. Specifically, GuideOne has transitioned from managing through legal entities to managing around customer niches.
GuideOne's focus on understanding and meeting unique customer needs combined with the company's agent driven innovation and an unwavering social commitment has established the company as the premier niche market insurer for its consumer and commercial customers. GuideOne will look to further solidify this position by expanding and extending relationships with customers by providing an array of value-added and stand-alone services within its chosen niches.
Types of insurance: Churches, Protection for Senior Living Communities, Superior Protection and Safeguards for Educational Institutions, Health insurance, Home insurance and Life insurance
Founded: April 1, 1947
Headquarters: 1111 Ashworth Road West Des Moines, Iowa
Web site: www.guideone.com
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