Indiana Farmers Mutual Insurance Co.

• Author: Beck, Bill
• Position: Centennial Business

Fire was an ever-present danger on the farms of Indiana in the 1870s. Grain often sat in storage in wooden corn cribs during the winter until it could be moved to market in the spring, and hay was put up loosely in lofts. A spark from a candle or an oil lamp could reduce a farmer's yearlong labor and efforts to ashes in minutes.

In 1877, a small group of Montgomery County farmers met in the county seat of Crawfordsville to create what was to become known as Indiana Farmers Mutual Insurance Co. Their idea was to establish a local organization that would allow farmers in west-central Indiana to come together and help each other in the event of a fire loss.

The organization has grown with Indiana during the past 125 years into a thriving mutual insurance company, offering auto, home, farm and commercial policies through independent agents all over the Hoosier state. During the company's early years of business, policies were delivered in a horse-drawn buggy owned by Harry Cooper Sr., manager of Indiana Farmers Mutual from 1906-1946. That buggy now sits in the lunchroom of the company's Indianapolis headquarters, reminding employees of the firm's long and successful history.

According to president and CEO Dan Stone, Indiana Farmers Mutual would not be the company it is today without the traditional core values--integrity, stability and security--espoused by the 19th century founders.

Today, Stone says, the core values still guide the company's employees. "Retaining our 19th century values while we employ 21st century tools and techniques allows us to adapt to changing market conditions," Stone says. "Sound management practices, excellent customer service, competent professional staff members, and a network of superior independent agents have all contributed to the company's growth and progress."

THE PERSONAL TOUCH

Security has been the company's purpose since its founding. Stone and the staff of Indiana Farmers Mutual feel that integrity is the most important value, and pass this belief on to each customer. Stability is becoming an increasingly important value in the face of today's unstable economic climate.

Stone is confident that every customer experiences the core value system in dealings with Indiana Farmers Mutual. The company has a close-knit culture, and its values are important to both its employees and customers.

Stone has been with the company for more than 22 years and has been president since 1997. He works with employees and...