Nodak Insurance Company

What Nodak Insurance Company does

Nodak Insurance Company is a North Dakota-domiciled property and casualty insurer founded in 1945 (per company history) by the North Dakota Farm Bureau, originally as Nodak Mutual Insurance Company, to provide affordable coverage to Farm Bureau members. Since converting from mutual to stock form on March 13, 2017, it has operated as a wholly-owned subsidiary of NI Holdings, Inc. (NASDAQ: NODK), with Nodak Mutual Group retaining 55% of the parent's shares. Headquartered at 1101 1st Ave N, Fargo, the company employs between 101 and 250 people and serves customers through a captive network of over 70 licensed agents across North Dakota, supplemented by iOS/Android mobile app, MyAccount online portal, and online quote request channels.

The company's core product suite spans personal auto, homeowners, farm and ranch, crop, small commercial business, life and annuities, and financial products, with agriculture-centric coverage (farm property, equipment breakdown, livestock, and crop) representing a defining vertical specialization. Technology-enabled offerings include the Drive4Less telematics-based safe-driving program (up to 30% auto premium savings), the Route 1000 teen driver program (7% discount plus $500 reward after 1,000 safe-driving days), Roost smart home water-leak sensor integration, and a Personal Injury Endorsement covering libel/slander claims and defense costs. The company is rated A (Excellent) by AM Best and has earned Ward Group's Superior Rating for Personal Lines Claims Customer Experience for six consecutive years (2020–2025).

Nodak generates revenue through recurring insurance premiums across personal, commercial, and life lines, with pricing modeled on risk-based quotes enhanced by behavior-based and demographic discounts. The go-to-market motion is sales-led via captive agents, layered with direct-to-consumer digital quoting and self-service account management. Recent strategic direction is defensive: the company divested Westminster American Insurance Company for $10.5M in July 2024, is winding down Non-Standard Auto operations in multiple states (Nevada, Illinois, Arizona, South Dakota, Chicago), and underwent two CEO transitions between December 2024 and October 2025. Underwriting profitability has improved sharply (Q1 2026 combined ratio 79.7% vs. 94.4% prior year quarter; net income up 93.6% YoY to $12.5M), even as gross premiums written declined 15.1% YoY in Q1 2026 due to the Non-Standard Auto exit.

Name

Nodak Insurance Company

Legal name

Nodak Insurance Company

Website

https://nodakins.com

Company type

Public

Founded year

1945

Operating status

Operating

Headcount range

101–250 employees

Short description

Nodak Insurance Company is a North Dakota-based property and casualty insurer and wholly-owned subsidiary of NI Holdings, Inc. (NASDAQ: NODK) serving North Dakota residents, farmers, ranchers, and Farm Bureau members through 70+ captive agents and digital channels across auto, home, farm, crop, business, and life lines.

Ownership category

akta.pro rank

Product category

Personal Lines Property and Casualty Insurance

NAICS

Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

Keywords

• Property casualty insurance
• Auto insurance
• Farm ranch insurance
• Crop insurance
• Home insurance

Headquarters

HQ city

Fargo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: Collection of insurance premiums from policyholders across personal lines (auto, home, farm), commercial lines, and life/annuity products. Premiums are earned over the policy period with combined ratio of 79.7% in Q1 2026 indicating profitable underwriting.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Nodak Insurance Company is a North Dakota-based property and casualty insurance carrier offering personal lines (auto, home) and agricultural lines (farm, ranch, crop) insurance, along with commercial, life, and annuity products. Founded in 1945 by North Dakota Farm Bureau, it distributes coverage through a statewide network of more than 70 licensed agents and serves as the primary insurance subsidiary of NI Holdings, Inc.

Product overview

Nodak Insurance Company offers a comprehensive portfolio of property and casualty insurance products serving North Dakota residents and Farm Bureau members. The core product lineup includes Auto, Home, Farm & Ranch, Crop, Business, Life & Annuities, and Financial Products. The company differentiates through technology-enabled offerings including the Drive4Less mobile app with safe driving rewards (up to 30% savings), the Route 1000 teen driver program, and Roost smart home water leak detection. Policyholders can access accounts through the MyAccount online portal and e-Bill Express for bill payment. The company is rated A (Excellent) by AM Best and is a subsidiary of NI Holdings, Inc. (NASDAQ: NODK).

Differentiator

Problem solved

Functional benefit

Brands

• Drive4Less: Safe driving program that rewards policyholders with up to 30% savings on auto insurance premiums based on driving habits.

Products and services

• Auto Insurance

Quantifiable outcome

• Combined ratio improved to 79.7% in Q1 2026 versus 94.4% year-over-year
• +3 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• North Dakota Farm BureaucoreStrategic or Co-development Partner · 13 March 2017Core strategic partnership providing insurance products to North Dakota Farm Bureau members. Company founded over 60 years ago specifically to serve Farm Bureau members and continues as the insurance arm of the organization.
• Fargo Police DepartmentcoreStrategic or Co-development Partner · 19 April 2008Annual partnership for DNA LifePrint child identification events at West Acres Mall. Company staff volunteers alongside police for fingerprinting, photos, and DNA kit distribution. Partnership recognized with Fargo Police Chief award.
• Flint CommunicationsminorImplementation/ SI/ Consulting Partner · 1 January 2008Advertising production partnership for television commercial creation. Flint Communications of Fargo produced award-winning Northwood tornado response advertisement.

Scale indicators7 records

Recent moves7 records

Direct peers

• Auto-Owners Insurance: Mutual regional property-and-casualty insurer distributing through independent agents across roughly 30 states. Comparable to Nodak in being a regionally anchored, agent-led P&C carrier with personal and commercial lines, though at significantly greater scale.
• Farm Bureau Financial Group: Farm Bureau-affiliated mutual insurance and financial services company operating in 14 Midwestern and Western states. Most directly comparable to Nodak in distribution model (Farm Bureau captive) and product mix (auto, home, farm, life, crop).
• Erie Insurance Group: Regional P&C insurer operating in 12+ Mid-Atlantic and Midwest states through exclusive agents. Comparable agent-led distribution and personal/commercial mix, with strong regional brand and AM Best A+ rating — a relevant benchmark for Nodak's regional strategy.
• Westfield Insurance: Super-regional P&C insurer operating across the Midwest, Northeast, and South via independent agents. Comparable personal/commercial mix and AM Best A rating, but at significantly larger scale and broader geographic footprint than Nodak.
• Shelter Insurance Companies: Mutual regional P&C and life insurer operating across 14 Midwestern and Southern states through captive agents. Highly comparable in distribution model (statewide career agents) and personal/farm/ranch customer focus.
• Employers Mutual Casualty Company (EMC Insurance): Regional mutual P&C insurer focused on commercial and personal lines in the Midwest, publicly traded on NASDAQ (EMCI). Comparable small-cap public structure and Midwestern concentration, though with heavier commercial mix than Nodak.
• Grinnell Mutual Reinsurance Company: Farm Bureau-affiliated mutual reinsurer and P&C carrier operating across the Midwest. Comparable in farm-bureau distribution channel and farm/ranch product specialization, serving a similar mutual/agent-led model.
• Germania Insurance: Mutual regional P&C insurer primarily serving Texas and surrounding states through exclusive agents. Comparable in size, mutual heritage, agent-led distribution, and personal-lines focus with light commercial exposure.
• Motorists Insurance Group: Regional mutual P&C insurer headquartered in Columbus, Ohio, distributing through independent agents across the Midwest. Comparable small-to-mid scale regional P&C mutual with personal and commercial lines.
• Donegal Group (DGICA): Regional P&C holding company operating through Atlantic States Insurance and other subsidiaries in the Mid-Atlantic and Midwest. Comparable small-cap public P&C structure (NASDAQ: DGICA) with personal and commercial lines distributed through independent agents.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/nodakinsurance
• YouTubeyoutube.com/channel/UCVxqId6ZaWfX2_ifU0LxJ1g
• Facebookfacebook.com/NodakInsurance
• LinkedInlinkedin.com/company/nodakinsurancecompany/?viewAsMember=true
• Instagraminstagram.com/nodak_insurance

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Nodak Insurance Company