GuideOne Insurance
| Company type | Mutual insurance company |
|---|---|
| Industry | Insurance |
| Founded | April 1, 1947 in West Des Moines, Iowa, United States |
| Headquarters | West Des Moines , United States |
Area served | United States |
Key people | Bernard Hengesbaugh (President and CEO), Adam Niebrugge (Senior Vice President, Chief Actuary, and Risk Officer) |
| Products | Insurance solutions for churches, educational institutions, students, small business commercial insurance, Excess & Surplus (E&S) / Specialty Lines insurance |
| Website | www |
GuideOne Insurance is a specialized insurance provider based in the United States, with its main office located in West Des Moines, Iowa. Established in 1947, the company focuses on offering insurance solutions tailored for churches, educational institutions, and students, making it one of the nation's leading insurers within the church market. GuideOne holds licenses in every U.S. state and reported written premiums totaling $1.06 billion as of 2021.
History
Marking its 75th year in April 2022, GuideOne has grown into a sophisticated and knowledgeable entity within its niche, supported by strong partnerships. In July 2022, Adam Niebrugge was appointed senior vice president, chief actuary, and risk officer, where he took charge of actuarial responsibilities and enterprise risk management initiatives.
That same month, AM Best reaffirmed GuideOne’s Financial Strength Rating at A− (Excellent), maintaining a stable outlook. Bernard Hengesbaugh was named president and CEO in June 2022, bringing with him extensive leadership experience from CNA Insurance. He succeeded Andy Noga, who resumed his role as general counsel after serving as interim CEO.
On July 14, 2023, AM Best placed GuideOne’s Financial Strength Rating of A− and Long-Term Issuer Credit Ratings “a−” under review with negative implications due to concerns over a significant reduction in surplus and risk-adjusted capital ratios. To address these challenges, GuideOne is considering various capital strategies including potential affiliations or mutual holding company mergers alongside reinsurance or capital guarantee arrangements to reinforce its financial stability.
Timeline
- 1946 – William N. Plymat pioneered the idea of an insurance company offering reduced rates to individuals who abstain from alcohol, founding America’s first auto insurer dedicated to nondrinkers.
- Dec. 26, 1946 – Preferred Risk Mutual Insurance Company (PRM) was established in Des Moines, Iowa with an initial capital investment of $30,000 from Plymat, J.J. Mallon, and Reverend Sam Morris, who became the inaugural president.
- April 1, 1947 – PRM obtained its official license to operate in Iowa.
- 1948 – Rolled out the nation’s first "merit reduction" program that rewarded policyholders without claims by offering premium discounts up to 40%.
- Sept. 1, 1948 – Created Midwest Mutual Insurance (MM) to provide coverage specifically for motorcycles.
- 1962 – Introduced America’s inaugural multiple-peril package policy designed for churches.
- 1968 – Built a $2.5 million corporate headquarters at 1111 Ashworth Road in West Des Moines; the building was recognized as a finalist for "Office of the Year."
- 1972 – Launched no-fault automobile insurance under the brand "Auto-Matic Pay," influencing both state and federal legislation and becoming a widely adopted coverage standard.
- 1980 – Provided initial funding to help establish Mothers Against Drunk Driving (MADD).
- 1990 – Made its largest single donation of $2 million to MADD.
- 1998–1999 – Transitioned branding from Preferred Risk to GuideOne Mutual Insurance Company and later to GuideOne Insurance to enhance brand identity.
- 1999 – Honored with the Integrity Award from the Iowa Better Business Bureau.
- 2005 – Recognized among the "Principal 10 Best Companies for Employee Financial Security."
- 2011–2013 – Earned consecutive listings on Ward’s 50 Top Performing Insurance Companies.
- 2014 – Featured on Inc. 5000’s list of fastest-growing private companies nationwide based on three-year revenue growth.
- 2016 – Shifted focus exclusively to commercial lines insurance.
- 2017 – Jessica E. Snyder was appointed President & CEO, marking a key leadership advancement.
- 2018 – Broadened product portfolio by introducing small business commercial insurance offerings.
- 2019 – Entered the Excess & Surplus (E&S) or Specialty Lines markets targeting sectors such as infrastructure, construction, and energy.
- June 2020 – Collaborated with One Inc to upgrade digital payment platforms for premiums and claims processing.
- January 2022 – Received Best in Class Employer recognition from Gallagher’s national Benefits Strategy & Benchmarking Survey.
- July 2023 – AM Best placed GuideOne Insurance Companies’ credit ratings under review with negative implications.
Corporate sponsorships
The GuideOne Foundation actively contributes to nonprofit entities including Big Brothers Big Sisters of Central Iowa, Food Bank of Iowa, Habitat for Humanity, and Junior Achievement, demonstrating the organization's dedication to community involvement and corporate social responsibility.