ProAg

What ProAg does

ProAg is a managing general agency and Approved Insurance Provider (AIP) that underwrites and services federal and private crop insurance products for American farmers, ranchers, and dairy producers across all 50 U.S. states. The company, founded in 1926 as a Texas wheat-farming insurance business by the Latham family and now marking its 100th anniversary, operates as a subsidiary of Producers Ag Insurance Group, Inc. within the Tokio Marine HCC group (A++ Superior financial strength rating). Its product portfolio spans federal Multi-Peril Crop Insurance (MPCI) — including Individual Plans (Revenue Protection, Yield Protection), Area Plans, Pasture/Rangeland/Forage (PRF) rainfall-index coverage, and Margin Protection Plan (MPP) — alongside federal livestock programs (Livestock Risk Protection, Dairy Revenue Protection), private products (Crop Hail, Added Individual Modifier, Supplemental Replant Coverage, Weather Products), and supporting technology platforms.

The technology stack is anchored by a proprietary suite of agent-facing systems (ProAgPortal, ProAgWorks, ProAgQuote, ProAgMapping, ProAgSmartQUOTE, ProAg U training, ProAgReports) and the myProAg policyholder portal, plus mobile loss-adjustment and Digital Ag / Weather Products integrations. Distribution is exclusively indirect, executed through licensed independent crop insurance agents in all 50 states, with no direct-to-grower sales channel; growers access self-service policy management, billing, and claims tracking via the myProAg portal. Pricing is policy-level (a $30 administrative fee on Revenue Protection, 50%–85% coverage levels) and revenue is generated on a recurring annual subscription/premium basis through multiple risk-bearing carrier relationships (Producers Agriculture Insurance Company, U.S. Specialty Insurance Company).

Headquartered in Amarillo, Texas with 251–500 employees, ProAg combines a regulated federal-insurance franchise with private-product adjacencies and a broad agent distribution network. The business model is mature and stable, with growth levers in product breadth (Digital Ag, Weather Products), agent ecosystem depth (ProAg U, Strategic Partners Conference), and selective inorganic expansion (e.g., 2017 acquisition of International Ag Insurance Solutions), all within the strategic umbrella of Tokio Marine HCC.

Name

ProAg

Legal name

Pro Ag Management, Inc.

Website

https://proag.com

Company type

Private

Founded year

1926

Operating status

Operating

Headcount range

251–500 employees

Short description

ProAg is a 100-year-old managing general agency and Approved Insurance Provider that underwrites federal and private crop insurance for American farmers, ranchers, and dairy producers in all 50 U.S. states, distributed exclusively through independent agents and supported by a proprietary technology suite.

Ownership category

akta.pro rank

Product category

Crop Insurance

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

akta.pro secondary industry

Farm Risk Management & Insurance Advisory (AFACAJAD)

Keywords

• Crop insurance
• Livestock insurance
• Agricultural risk management
• Revenue protection
• Multi-peril crop insurance

Headquarters

HQ city

Amarillo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Federal Crop Insurance (MPCI): ProAg is an approved insurance provider of federal crop insurance (MPCI) under the Federal Crop Insurance Corporation (FCIC) program administered by USDA RMA. The company earns premiums from multi-peril crop insurance policies covering revenue and yield protection.
2. Federal Livestock Insurance: Provides Livestock Risk Protection (LRP) and Dairy Revenue Protection (DRP) insurance products as part of federal livestock programs.
3. Crop Hail Insurance: Private crop hail insurance policies providing coverage against hail damage and other specified perils.
4. Private Products: Supplemental insurance products including Added Individual Modifier (AIM) and Supplemental Replant Coverage (SRC) that layer onto federal crop insurance policies.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

ProAg is an Approved Insurance Provider that distributes federal Multi-Peril Crop Insurance (MPCI), federal Livestock Risk Protection (LRP) and Dairy Revenue Protection (DRP), private Crop Hail coverage, and supplemental private products (Added Individual Modifier, Supplemental Replant Coverage, Weather Products) to American farmers, ranchers, and dairy producers through a nationwide independent agent network. Its offerings are operationalized through proprietary technology platforms including the myProAg policyholder portal and the ProAgSystems suite of agent tools for quoting, mapping, policy administration, and claims.

Product overview

ProAg is a managing general agency offering a comprehensive portfolio of crop insurance products and technology platforms. The core offering includes federal Multi-Peril Crop Insurance (MPCI) products comprising Individual Plans (Revenue Protection, Yield Protection), Area Plans, Pasture/Rangeland/Forage (PRF), and Margin Protection Plan. The company also provides federal Livestock Programs including Livestock Risk Protection (LRP) and Dairy Revenue Protection (DRP), along with private products such as Added Individual Modifier (AIM) and Supplemental Replant Coverage (SRC), plus traditional Crop Hail Insurance. Supporting these products is a suite of technology platforms including myProAg (policyholder portal), ProAgWorks, ProAgQuote, ProAgMapping, ProAgSmartQUOTE, ProAgPortal, ProAg U (training), ProAgReports, Mobile Adjusting, and Digital Ag tools. The company operates as part of Tokio Marine HCC group and has been serving American farmers and ranchers for 100 years.

Differentiator

Problem solved

Functional benefit

Brands

• myProAg: Policyholder portal for real-time policy management, online bill payment, claims status tracking, direct deposit, and tax document access.
• ProAgPortal
• ProAgWorks
• ProAgQuote
• ProAgMapping
• ProAgSmartQUOTE
• ProAg U
• ProAgReports

Products and services

• Multi-Peril Crop Insurance (MPCI) Federal MPCI policy providing protection against multiple perils including drought, flood, hail, and other natural disasters for agricultural producers; covers Revenue Protection (RP), Yield Protection (YP), and other individual and area-based plans with coverage levels from 50% to 85%.
• Pasture, Rangeland, Forage (PRF) Federal rainfall index-based insurance product providing protection for producers who depend on pasture, rangeland, or forage for livestock production against rainfall shortfall.
• Margin Protection Plan (MPP) Federal crop insurance product providing protection against a decline in margin (revenue minus input costs) for agricultural operations.
• Crop Hail Insurance Private crop insurance product providing coverage specifically against hail damage to crops, with optional endorsements that can extend coverage to additional perils such as fire, wind, and vandalism.
• Livestock Risk Protection (LRP) Federal insurance product that insures livestock producers against declining market prices for livestock, with pricing based on USDA Agricultural Marketing Service data.
• Dairy Revenue Protection (DRP) Federal insurance product that protects dairy farmers against quarterly revenue losses caused by declines in milk prices or milk volume.
• Added Individual Modifier (AIM) Private supplemental product that adds individual coverage modifiers to existing federal crop insurance policies, providing enhanced protection layered on top of MPCI.
• Supplemental Replant Coverage (SRC) Private supplemental product that provides replant coverage beyond the standard replant provisions available under federal crop insurance policies.
• Weather Products Private weather-related insurance products and data integration solutions that support agricultural risk management.
• myProAg Policyholder Portal Online policyholder portal that enables existing ProAg customers to manage their policies in real time, pay bills online, set up direct deposit for claims, file notices of loss, track claims status, receive text alerts, quote livestock coverage, access policy provisions and 1099 tax forms, and authenticate with multifactor login.

Quantifiable outcome

• Comprehensive coverage from 50% to 85% protection levels
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

One partnership is on record.

• Lessing-FlynnminorGTM or Marketing PartnerLessing-Flynn serves as ProAg's marketing agency partner. The two companies collaborated on marketing materials for ProAg's inaugural Strategic Partners Conference, earning a NAMA Merit Award for Event Marketing in 2025.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Rain and Hail LLC: One of the largest U.S. Approved Insurance Providers of MPCI and crop hail insurance, operating through independent agents nationwide. Directly comparable to ProAg on product set, federal AIP status, and agent-led distribution model.
• NAU Country Insurance Company: Major crop insurance AIP owned by QBE Insurance Group, offering MPCI, crop hail, and livestock products through independent agents. Closely mirrors ProAg's product mix and agent distribution, with materially larger premium volume.
• Rural Community Insurance Services (RCIS): Zurich-owned Approved Insurance Provider and one of the largest crop insurers in the U.S. Direct competitor to ProAg in federal MPCI, with a similarly agent-driven distribution model and broader international reinsurance backing.
• ARMtech Insurance Services: Mid-sized crop and livestock insurance AIP offering MPCI, crop hail, and livestock price insurance through independent agents. Comparable in size, product breadth, and channel model to ProAg.
• Hudson Crop Insurance Services: Approved Insurance Provider focused on federal MPCI and private crop products distributed through independent agents. Closely comparable mid-sized AIP competitor with overlapping geographies.
• Crop Risk Services: Direct writer of federal crop insurance and crop hail products operating across multiple U.S. states. Comparable AIP competitor with similar product set and agent-led GTM.
• Farmers Mutual Hail Insurance Company of Iowa: Mutual crop insurer and approved AIP offering MPCI, crop hail, and specialty crop coverage through agents in the Midwest and beyond. Comparable on product mix and federal program participation.
• Diversified Crop Insurance Services: Mid-market MGA focused on federal and private crop insurance distributed through independent agents. Directly comparable in scale, channel model, and product offering to ProAg.

Broad incumbents

• Great American Insurance Company - Crop Division: Diversified specialty P&C carrier with a crop insurance division offering MPCI and crop hail through agents. Operates as part of a broader portfolio of specialty insurance lines, comparable to ProAg only on the crop insurance vertical.
• Tokio Marine HCC: Parent group of ProAg and a large specialty insurance group offering property, casualty, surety, and other specialty lines globally. Relevant as the overarching incumbent whose capital, A++ rating, and balance sheet capacity ProAg leverages.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/ProAgIns
• YouTubeyoutube.com/c/Proag
• Facebookfacebook.com/ProAgIns
• LinkedInlinkedin.com/company/proag
• Instagraminstagram.com/proagins
• Pinterestpinterest.com/proagins

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about ProAg