The Heart Of Farmers Insurance: Unraveling Their Mission And Values

Farmers Insurance Group is one of the largest insurers of vehicles, homes, and small businesses in the United States, serving over 10 million households. The company was founded in 1928 by two men who shared a dream of providing quality insurance products at reasonable prices. Since then, Farmers Insurance has grown and adapted to meet the changing needs of Americans while remaining committed to its founding ideals of providing industry-leading products and first-rate services. The company's core values include integrity, commitment to community service, and exceptional customer service. Farmers Insurance strives to put people first, including its customers, employees, agents, and communities, and has a longstanding commitment to diversity, equity, inclusion, and belonging. The company also focuses on giving back to the community and has donated over $39.1 million to support various causes.

Farmers Insurance's history and growth

Farmers Insurance Group (informally Farmers) is an American insurance company that has been in business since 1928. The company was founded by John C. Tyler and Thomas E. Leavey, who shared a dream of providing a quality insurance product at a reasonable price. Tyler and Leavey recognised that farmers, ranchers, and other rural drivers were an overlooked market, and they wished to create their own auto insurance firm. They believed that this demographic had better driving records than urbanites and deserved lower insurance premiums.

On March 28, 1928, the first meeting of the board of governors was convened, and two days later, Charles Brisco insured his 1925 Cadillac Phaeton and became the first Farmers customer. By 1928, the company was ready to open for business out of a one-room office in downtown Los Angeles. In 1935, a new reciprocal company, Truck Insurance Exchange, was launched to specialise in truck insurance. In 1937, Farmers opened its Home Office on Wilshire Boulevard in Los Angeles. By 1940, Farmers was the leading auto insurance carrier in the Pacific Northwest, with a new regional office in Portland, Oregon. In 1942, Farmers added a third reciprocal company, the Fire Insurance Exchange.

Farmers Insurance has continued to grow and adapt to meet the changing needs of Americans. Today, Farmers Insurance Group is one of the country's largest insurers of vehicles, homes, and small businesses, serving more than 10 million households with more than 19 million individual policies across all 50 states. The company provides a wide range of insurance and financial services products and has over 48,000 exclusive and independent agents and approximately 21,000 employees.

Their commitment to diversity, equity, inclusion and belonging

Farmers Insurance has a long-standing commitment to diversity, equity, inclusion, and belonging (DEI&B), which forms the foundation of its culture and guides the organisation in its mission to make a positive difference in the communities it serves. This commitment is reflected in its ambition statement, which emphasises its dedication to "innovating for customers whenever and wherever they need us".

To achieve this goal, Farmers Insurance recognises the importance of valuing and celebrating the unique potential of every individual within the company. They actively encourage new ideas, question the status quo, and put the customer at the heart of their operations. Through workplace and corporate citizenship initiatives, Farmers Insurance strives to create an inclusive culture that embraces workforce diversity and nurtures an accepting environment where employees feel a sense of belonging.

The company fosters this inclusive culture through various initiatives. For example, they have established the Farmers Enterprise Diversity, Equity, Inclusion and Belonging Council, which helps unify, promote, and enforce DEI&B efforts across the organisation, with members sharing best practices and providing guidance. Additionally, Farmers Insurance has a vibrant network of Employee Resource Groups (ERGs) that are led by employees and open to all, supporting employees in bringing their whole selves to work.

Farmers Insurance also offers inclusive benefits to its employees, such as paid parental leave, adoption assistance, and tuition assistance. They actively invest in their employees by providing resources for professional development and DEI&B-specific training options, empowering employees to bring their unique perspectives and contribute to an inclusive work environment.

Furthermore, Farmers Insurance is committed to giving back to the communities they serve. They support programs that eliminate financial barriers for low-to-moderate-income communities and work with organisations to deliver financial literacy, insurance education, and career development opportunities. They also focus on disaster resilience, helping communities plan, prepare for, and recover from natural disasters through partnerships with nonprofit organisations.

By prioritising DEI&B, Farmers Insurance demonstrates its dedication to creating an inclusive and equitable environment for its employees and the communities it serves, staying true to its founding ideals and mission to provide industry-leading products and first-rate services.

Their ambition to be the leader in delivering peace of mind

Farmers Insurance has been serving Americans since 1928 when it was founded by two men who shared a dream of providing quality insurance products at a reasonable price. Over the decades, the company has grown and adapted to meet the changing needs of its customers. However, one thing has remained constant: Farmers Insurance's unwavering commitment to its founding ideals of providing industry-leading products and first-rate services. This commitment is reflected in the company's ambition to be the leader in delivering peace of mind to its customers.

The company's ambition statement underscores its dedication to meeting the needs of its customers and being at the forefront of innovation in the insurance industry. Farmers Insurance recognizes that the world is constantly changing and that the needs of its customers are evolving. As such, the company strives to stay ahead of the curve by anticipating and responding to these changing needs. Whether it's adapting to new technologies, developing new products, or enhancing its services, Farmers Insurance is committed to being a leader in the industry and delivering unparalleled peace of mind to its customers.

Farmers Insurance understands that delivering peace of mind goes beyond providing insurance products. It entails helping customers plan wisely for the unexpected and restore order when disasters occur. The company has a long history of assisting customers in navigating life's challenges and unexpected events, from replacing a stolen car battery to providing support and assistance during natural disasters. Farmers Insurance is committed to being there for its customers when they need it most, offering not just insurance but also peace of mind and a sense of security.

To achieve its ambition of delivering peace of mind, Farmers Insurance prioritizes innovation and customer-centricity. The company encourages new ideas, embraces change, and puts the customer at the heart of everything it does. By valuing and celebrating the unique potential of each individual within the organization, Farmers Insurance fosters a culture of innovation and excellence. This culture enables the company to develop cutting-edge products, enhance its services, and create a personalized customer experience that meets the diverse and evolving needs of its customers.

Farmers Insurance's commitment to delivering peace of mind extends beyond its customers to the communities it serves. The company has a strong track record of corporate social responsibility and community engagement. Through philanthropic efforts, disaster relief initiatives, and economic empowerment programs, Farmers Insurance makes a positive impact on communities across the country. By partnering with nonprofit organizations and engaging in volunteerism, the company demonstrates its dedication to giving back and making a meaningful difference in the lives of those it serves.

Their community and social responsibility efforts

Farmers Insurance has a long history of community and social responsibility efforts. The company's core values include integrity, commitment to community service, and serving its customers. This is reflected in their social responsibility initiatives, which focus on disaster resilience and economic empowerment.

One of Farmers Insurance's key approaches to serving communities is through philanthropic efforts aimed at disaster resilience. They work with nonprofit partners to help communities prepare for, respond to, and recover from natural disasters. This includes sharing best practices and safety information, providing immediate response and support, and helping to rebuild more sustainable and resilient communities. They also set up giving campaigns and match donations made by their employees to nonprofits working on disaster relief.

In terms of economic empowerment, Farmers Insurance supports programs that aim to eliminate financial barriers for low- and moderate-income communities. They work with organizations to deliver financial literacy, insurance education, and career development opportunities. This includes career development and readiness programs, financial literacy initiatives, and introducing risk and insurance concepts to young people to promote financial readiness.

The company also has a strong commitment to diversity, equity, inclusion, and belonging (DEI&B). They foster a diverse and inclusive workplace, encouraging new ideas and putting customers at the heart of what they do. Farmers Insurance supports various initiatives and employee resource groups to promote DEI&B and create an accepting and inclusive culture.

Additionally, Farmers Insurance prioritizes employee well-being through initiatives like Farmers Fit and Mindfully Fit. These programs promote total wellness, including physical, emotional, social, and financial health, by encouraging positive lifestyle choices. They also address mental health by highlighting available resources and support, as well as reducing stigma.

The company also provides paid parental leave and adoption assistance, demonstrating their commitment to their employees' work-life balance and family needs. Furthermore, they offer tuition assistance and learning benefits to help employees grow and develop professionally.

Overall, Farmers Insurance's community and social responsibility efforts are aligned with their mission to provide industry-leading products and first-rate services while giving back to the communities they serve.

Their commitment to environmental sustainability

Farmers Insurance has demonstrated a strong commitment to environmental sustainability, evident through several initiatives and actions. Here is an overview of their efforts:

Initiatives for a Greener Future

Farmers Insurance understands the importance of environmental sustainability and is actively taking measures to become a more eco-conscious organization. They have set a target to transition all sedan and SUV fleet vehicles to hybrid and electric models by the end of 2026, marking a significant step towards reducing their carbon footprint. Additionally, they have made impressive strides in paper reduction, achieving an over 80% decrease in internal paper use since 2015. This, along with paperless billing and reduced internal print communications, contributes to their goal of operating in an eco-friendlier manner.

Sustainable Operations

Farmers Insurance is committed to sustainable practices in their day-to-day operations. They have eliminated polystyrene and plastic from their operations, opting for biodegradable alternatives wherever possible. This shift occurred in 2019, showcasing their dedication to minimizing the use of non-biodegradable materials.

The Go Green Team

To reinforce their commitment to sustainability, Farmers Insurance established the Go Green Team. This dedicated team plays a crucial role in raising awareness about environmental sustainability within the organization and beyond. By encouraging employee involvement in sustainability initiatives, the Go Green Team helps to create a culture of eco-consciousness throughout the company.

IMPACT Community Capital (ICC)

Farmers Insurance is not just focused on internal sustainability but also on making a positive societal impact. In the late 1990s, they were founding members of IMPACT Community Capital (ICC), an organization with a unique investment approach. ICC strives to make socially responsible investments in traditionally underserved communities, aiming for both solid financial returns and positive sustainable societal outcomes.

Through these initiatives and more, Farmers Insurance demonstrates its dedication to environmental sustainability and its role in creating a greener future. By reducing their environmental impact, encouraging employee involvement, and supporting sustainable community development, they are actively contributing to the well-being of the planet and the communities they serve.

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