Horace Mann

What Horace Mann does

Horace Mann Educators Corporation (NYSE: HMN) is a publicly traded insurance and financial services company headquartered in Springfield, Illinois, that has exclusively served the K-12 education community for over 80 years. The company targets approximately 1 million of the nation's ~8 million K-12 teachers, administrators, and support staff with a vertically integrated product portfolio across three segments: Property & Casualty (auto, homeowners, renters, liability, recreational), Life & Retirement (term and permanent life insurance, 403(b)/457(b)/401(a) plans, fixed and variable annuities, investment management via BNY Mellon/Pershing, and 529 college savings), and Supplemental & Group Benefits (cancer, heart, accident, hospital, disability products underwritten through National Teachers Associates Life and Madison National Life).

The business operates a hybrid distribution model combining an independent contractor agent network, digital self-service channels (mobile app for iOS/Android, online quoting with Canopy/Seamless integration), a contact center, and B2B partnerships through school districts and alumni associations. Technology platforms include the Catalyst Agent Platform (launched January 2025) for agent workflows and the Student Loan Solutions portal (powered by Tuition.io) that has helped 7,200+ educators pursue $355M+ in potential loan forgiveness since 2020. AI capabilities are deployed across underwriting, pricing, policy administration, claims, and marketing, but the company does not disclose proprietary model development.

Revenue is generated primarily through recurring insurance premiums (P&C and Life), asset-based fees from investment management and annuities, and supplemental/group benefit premiums. Financial scale at Q1 2026 was $429.3M in quarterly revenue with record FY2025 core earnings of $196M (up 39% YoY) and EPS of $4.71, supported by 18 consecutive years of dividend increases, a market capitalization of approximately $1.95B, and AM Best credit rating affirmation. Geographic reach is currently limited to most U.S. states (excluding Hawaii, New York, Kentucky, and Mississippi as confirmed restrictions), with recent expansion into New Jersey.

Name

Horace Mann

Legal name

Horace Mann Educators Corporation

Website

https://horacemann.com

Company type

Public

Founded year

1961

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Horace Mann Educators Corporation (NYSE: HMN) is a Springfield, Illinois-based insurance and financial services company that has exclusively served approximately 1 million K-12 educators nationwide for over 80 years, offering auto, home, life, retirement, and supplemental insurance products through independent agents and digital channels.

Ownership category

akta.pro rank

Product category

Insurance and Financial Services

akta.pro primary industry

K–12 Support & School Improvement Nonprofits (BPAGADAB)

akta.pro secondary industry

After-School, Tutoring & Academic Enrichment Nonprofits (BPAGADAC)

Keywords

• Educator auto insurance
• Teacher life insurance
• 403(b) retirement plans
• Supplemental educator benefits
• 529 college savings plans

Headquarters

HQ city

Springfield

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Property & Casualty Insurance: Auto, homeowners, renters, and liability insurance premiums. Core business segment generating majority of revenue with Property & Casualty earnings up 46% in Q1 2026.
2. Life & Retirement: Life insurance premiums, annuity products, and investment management services. Includes term life, whole life, indexed universal life, and variable annuities. Life & Retirement earnings up 17% in Q1 2026.
3. Supplemental & Group Benefits: Cancer, heart, accident, hospital, and disability insurance products underwritten by National Teachers Associates Life Insurance Company and Madison National Life Insurance Company. Individual supplemental sales grew 40% in 2025, group benefits grew 33%.
4. Investment Management Services: Fee-based investment advisory services through Horace Mann Investors, Inc., offered in conjunction with BNY Mellon Advisors Portfolio Solutions. Fees based on assets under management.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Horace Mann Educators Corporation sells and underwrites auto, homeowners, renters, liability, life, supplemental, and recreational insurance, along with 403(b)/457(b)/401(a) retirement plans, fixed and variable annuities, 529 college savings plans, and investment advisory services tailored exclusively to U.S. K-12 educators and their families. The company distributes these through independent insurance agents, employer/district partnerships, digital self-service channels, and a mobile app, complemented by educator-focused programs such as Student Loan Solutions (powered by Tuition.io), DonorsChoose, HMScore credit monitoring, and the Horace Mann Club discount ecosystem.

Product overview

Horace Mann is an educator-focused insurance and financial services company serving approximately 1 million K-12 educators across the United States. The company operates a multi-product portfolio organized across three core segments: Property & Casualty (auto, homeowners, renters, liability, and recreational insurance), Life & Retirement (term and permanent life insurance, 403(b)/457(b)/401(a) retirement plans, fixed and variable annuities, investment management, and 529 college savings plans), and Supplemental & Group Benefits (cancer, heart, accident, hospital, and disability insurance). The portfolio is unified by a focus on the educator market and supplemented by programs including Student Loan Solutions (powered by Tuition.io for federal loan forgiveness assistance), the Horace Mann Club (discounts and wellness benefits), DonorsChoose partnerships, HMScore credit monitoring, and financial wellness workshops. The company also offers digital services through its mobile app and Catalyst agent platform, and serves employer groups through the WISE Employee Benefits Solutions platform.

Differentiator

Problem solved

Functional benefit

Brands

• Horace Mann Club: A program offering educators exclusive discounts, wellness partnerships, financial tools and resources.
• Student Loan Solutions
• HMScore
• DonorsChoose
• Catalyst
• WISE Employee Benefits Solutions

Products and services

• Auto Insurance Comprehensive auto insurance coverage tailored for educators, offering protection for vehicles with features like seamless policy sharing, competitive pricing, and bundling discounts with other policies.
• Homeowners Insurance Property insurance protecting dwellings, attached structures, personal belongings, and providing liability coverage for educators' homes.
• Renters Insurance Coverage protecting personal belongings and providing liability protection for renters, distinct from homeowners insurance as it does not cover the building structure.
• Liability Insurance Personal liability coverage protecting against injuries to others and accidental property damage, available as part of insurance offerings.
• Life Insurance Life insurance products including term life (Life by Design, Cash Value Term), whole life (Life Select), and indexed universal life (Pathfinder) underwritten by Horace Mann Life Insurance Company, providing guaranteed death benefits, cash value accumulation, and conversion options.
• Supplemental Insurance Additional coverage options including cancer, heart, accident, hospital, and disability insurance underwritten by National Teachers Associates Life Insurance Company and Madison National Life Insurance Company.
• Recreational Insurance Insurance coverage for recreational vehicles and equipment for educators.
• Retirement Strategies Comprehensive retirement planning services and products including 403(b), 457(b), and 401(a) investment options, Social Security guidance, fixed and variable annuities, and IRA accounts to help educators achieve secure financial futures.
• 529 College Savings Plans Tax-advantaged education savings plans offered through Horace Mann Investors, Inc. in partnership with Capital Group (CollegeAmerica), John Hancock (Freedom 529), and Voya (Tomorrow's Scholar), providing federal tax-deferred growth and state tax benefits.
• Investment Management Services Fee-based advisory services offered through Horace Mann Investors, Inc. (HMII) in conjunction with BNY Mellon Advisors, providing access to institutional asset allocation and third-party money managers including BlackRock, Vanguard, Calvert, and Morningstar portfolios.
• Student Loan Solutions No-cost program powered by Tuition.io that helps educators navigate student loan forgiveness including Public Service Loan Forgiveness (PSLF), with access to Loan Coaches, application assistance, and guidance on federal loan changes.
• HMScore Credit Monitoring Free credit monitoring and reporting service for educators to help protect their financial wellness.
• Horace Mann Mobile App Mobile application for iPhone (iOS 10.3+) and Android (7.0+) enabling customers to view coverages, ID cards, documents, billing, file claims, and contact representatives.
• WISE Employee Benefits Solutions Employee benefits solutions platform for school administrators and districts providing group benefits administration.

Quantifiable outcome

• $877 average annual auto insurance savings for new customers (based on 2025 data)
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core, minor and flagship.

• Tuition.iocoreTechnology or Integration · 16 June 2026Horace Mann's Student Loan Solutions program is powered by Tuition.io, which provides the technology platform for student loan management, assessment tools, and loan coach services. Since 2020, this partnership has helped 7,200+ educators pursue over $355 million in potential student loan forgiveness through PSLF and other federal programs.
• 24 Hour Fitness and SoulCycleminorGTM or Marketing Partner · 4 December 2025Fitness brand partnerships offering discounts and wellness programs to educators through the Horace Mann Club program, supporting educator physical and mental health and providing additional member benefits.
• CrayolaflagshipGTM or Marketing Partner · 9 May 2025Strategic partnership for Crayola Creativity Week, offering educators sweepstakes for creativity retreats and art supplies, classroom grants, and community celebration events. Builds brand affinity with educator community through creative education initiatives.
• BNY Mellon Advisors (Pershing)coreTechnology or IntegrationInvestment management services offered in conjunction with BNY Mellon Advisors Portfolio Solutions, providing access to institutional asset allocation, portfolio management, and diverse investment vehicles including BNY Mellon AdvisorFlex, American Funds Core, BlackRock, Vanguard, Calvert, and Morningstar portfolios through Pershing platform.
• DonorsChoosecoreGTM or Marketing PartnerOngoing partnership helping educators find funding for classroom resources they need. Horace Mann promotes and supports DonorsChoose, connecting donors with teacher projects and providing additional visibility for educator funding needs.
• SafeliteminorImplementation/ SI/ Consulting PartnerAuto glass repair services partnership through Safelite for Horace Mann auto insurance customers, providing convenient scheduling and repair services at 888-321-9391.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Lincoln Financial: Lincoln Financial provides life insurance, annuities, retirement plan services, and group benefits with a strong presence in K-12 403(b) retirement plans. It directly overlaps Horace Mann's retirement and life insurance segments, especially in the public-sector employer retirement space.
• State Farm: State Farm is the largest U.S. property and casualty insurer with broad national distribution through captive agents. It competes with Horace Mann in auto and homeowners insurance for educator households but does not specialize in the vertical, operating across all consumer segments.
• Voya Financial: Voya Financial is a retirement, investment, and insurance company with a leading position in K-12 403(b)/457(b) plans and workplace benefits. It is a broad incumbent competitor to Horace Mann's retirement and supplemental benefits segments, particularly through school district relationships.
• Nationwide Insurance: Nationwide is a major national insurance and financial services carrier with a strong small-business and educator customer base, offering auto, home, life, and retirement products. It is a broad incumbent peer competing for the same educator customers as Horace Mann but without the educator-exclusive specialization.
• New York Life: New York Life is a large mutual life insurance and retirement company offering term, whole, and universal life insurance plus annuities. It competes with Horace Mann in life insurance and retirement products for educators but operates across all professional segments rather than focusing exclusively on education.

Direct peers

• TIAA: TIAA is a leading financial services organization serving the academic, research, medical, and cultural communities with retirement plans, insurance, and investment products. It is the most directly comparable peer to Horace Mann, sharing a similar educator-focused mission, nonprofit heritage, and product suite including 403(b) retirement plans, life insurance, and investment management.
• California Casualty: California Casualty is an insurance company specializing in providing auto, home, and personal lines coverage to educators, public servants, and their families. It is a direct peer to Horace Mann with the same niche vertical focus on K-12 educators and a similar product portfolio centered on P&C insurance for the education community.
• NEA Member Benefits: NEA Member Benefits is the affinity marketing arm of the National Education Association, offering insurance, financial products, and discounts to public school educators nationwide. It is a direct competitor to Horace Mann in serving K-12 educators through association partnerships, with overlapping product categories including life, auto, home, and supplemental insurance.
• AMBA (Association Member Benefits Advisors): AMBA partners with associations across the public sector including education associations to deliver insurance products, retirement plans, and member benefits. It is a direct peer to Horace Mann's educator-focused affinity distribution model, often competing for the same district and association partnerships.

Regional players

• MEEMIC Insurance: MEEMIC is a Wisconsin-based insurance provider specializing in auto and home coverage for educators and their families, primarily in the Midwest. It is comparable to Horace Mann through its educator-focused niche and product mix, though it has a more regional footprint rather than national distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks4 records

Key highlights6 records

Customer concentration

• Xx.com/horacemann
• YouTubeyoutube.com/user/HoraceMannInsurance
• Facebookfacebook.com/horacemanninsurance
• LinkedInlinkedin.com/company/horace-mann
• Instagraminstagram.com/horacemanninsurance
• Pinterestpinterest.com/horacemannins

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Horace Mann