What Society Insurance Company does

Society Insurance Company is a mutual insurance carrier founded on June 8, 1915, in Madison, Wisconsin (now headquartered in Fond du Lac, Wisconsin), operating as a policyholder-owned insurer for over 110 years. The company specializes exclusively in business insurance for the hospitality industry — primarily restaurants, bars, and taverns — through two branded programs, the TopChoice Restaurant Program and the TopShelf Bar Program. Its product portfolio bundles core coverages (workers compensation, property, general liability, liquor liability) with add-on modules such as cyber liability, employment practices liability (EPLI), umbrella, commercial auto, franchise endorsement, and spoilage/contamination/recall coverage.

The company distributes exclusively through a network of independent insurance agents across nine US states (Colorado, Georgia, Illinois, Indiana, Iowa, Minnesota, Tennessee, Texas, and Wisconsin), with customers unable to obtain quotes directly. A self-service policyholder portal handles payments, policy management, and 24/7 first notice of loss. Society generates revenue primarily through insurance premiums (surpassing $200 million in total premium by 2019) and holds an A.M. Best A- (Excellent) financial strength rating with stable outlook maintained since 2007.

Operational depth is supported by value-added partnerships (ServSafe for food safety training, Medcor for 24/7 nurse triage of injured workers, Cozzini Bros, Verisk, IntelliCorp, Safety Source, and Safelite) and a workforce of 251-500 employees. The company is governed by a policyholder-elected board, led since 2023 by President & CEO Heather Boyer (the 11th president in company history), and remains a private mutual with no parent company, venture capital, or private equity involvement.

Name

Society Insurance Company

Legal name

Society Insurance, a mutual company

Website

https://societyinsurance.com

Company type

Private

Founded year

1915

Operating status

Operating

Headcount range

251–500 employees

Short description

Society Insurance is a Wisconsin-based mutual insurance carrier founded in 1915 that specializes exclusively in business insurance for the hospitality industry, particularly restaurants, bars, and taverns. It distributes through independent agents across nine US states.

Ownership category

akta.pro rank

Product category

Commercial Insurance (Hospitality-Focused Business Insurance)

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Public Liability (Premises/Operations) (FSAJADAD)

Keywords

• Commercial insurance
• Hospitality insurance
• Restaurant insurance
• Workers compensation
• Property casualty insurance

Headquarters

HQ city

Fond Du Lac

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Society Insurance generates revenue through insurance premiums from business insurance policies including property, casualty, workers compensation, and specialized hospitality coverage. As a mutual insurance company owned by policyholders, premiums are the primary revenue source.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Society Insurance is a mutual insurance carrier that underwrites and delivers specialized business insurance — primarily the TopChoice Restaurant Program and TopShelf Bar Program — combining property, casualty, workers compensation, and hospitality-specific coverages (liquor liability, food spoilage, cyber, EPLI, umbrella, commercial auto) into tailored packages for restaurant and bar owners. Policies are quoted and serviced exclusively through independent insurance agents across nine U.S. states, with policyholders supported by an online portal for 24/7 claims, billing, and policy management.

Product overview

Society Insurance is a mutual insurance company specializing in business insurance for the hospitality industry, offering a comprehensive portfolio of insurance products and services. The core offerings include the TopChoice Restaurant Program and TopShelf Bar Program, providing specialized coverage for restaurants and bars respectively. These are complemented by fundamental coverages such as Workers Compensation Insurance, Property Insurance, General Liability, and Liquor Liability Insurance. The company also offers supplementary protections including Commercial Auto Insurance, Cyber Liability Coverage, Employment Practices Liability Insurance (EPLI), Franchise Endorsement, Spoilage/Contamination/Recall Coverage, and Umbrella Policy. All coverages are available through independent insurance agents and are delivered via a Policyholder Services Portal enabling 24/7 online claims submission and policy management. The company operates across nine states: Colorado, Georgia, Illinois, Indiana, Iowa, Minnesota, Tennessee, Texas, and Wisconsin.

Differentiator

Problem solved

Functional benefit

Brands

• TopChoice Restaurant Program: Restaurant insurance program offering tailored coverage for restaurant owners.
• TopShelf Bar Program

Products and services

• Business Insurance (TopChoice Restaurant Program and TopShelf Bar Program)
• Property Insurance
• General Liability Insurance
• Workers Compensation Insurance
• Liquor Liability Insurance
• Commercial Auto Insurance
• Cyber Liability Coverage
• Employment Practices Liability Insurance (EPLI)
• Spoilage, Contamination & Recall Coverage
• Umbrella Policy
• Franchise Endorsement

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Cozzini BrosminorGTM or Marketing Partner · 1 May 2025Society Insurance announced a value-added partnership with Cozzini Bros in May 2025. Policyholders are eligible for discounts on Cozzini Bros knife sharpening and cutlery exchange services. This partnership provides added value to hospitality customers through cost savings on kitchen equipment maintenance.
• VeriskminorGTM or Marketing PartnerSociety Insurance policyholders receive discounted rates on Verisk's employment screening products and services including motor vehicle reports and criminal background checks. Discounted pricing is available through Verisk's online form.
• IntelliCorpminorGTM or Marketing PartnerPolicyholders receive discounted rates on IntelliCorp's employment screening products and services. Employee background checks help ensure quality and retention of new hires, minimizing risk for hospitality businesses.
• ServSafe (National Restaurant Association)minorGTM or Marketing PartnerThe National Restaurant Association and Society Insurance partnered to offer policyholders a 10% discount on all ServSafe products. Promo code SOCIETY provides access to food safety training and certification materials.
• MedcorcoreStrategic or Co-development PartnerSociety Insurance partnered with Medcor to provide Nurse Triage 24/7 services for policyholders and their injured workers. Medcor provides registered nurses to triage work-related injuries, recommend self-care or treatment options, and submit claims directly to Society Insurance.

Scale indicators6 records

Recent moves15 records

Expansion highlights4 records

Emerging players

• ICW Group: A specialty workers compensation and small commercial insurance carrier serving small businesses through independent agents. Comparable niche focus and channel model, with overlap in hospitality and small commercial workers compensation lines.
• Hiscox Ltd: A specialty insurer with strong small business and hospitality exposure including restaurants, bars, and entertainment venues. Hiscox serves similar target customers through both agent and direct channels and competes for the same small commercial accounts as Society.
• RLI Corp: A specialty P&C insurer with niche focus on small commercial and difficult-to-place risks including hospitality-adjacent lines. Comparable niche specialization and underwriting-driven approach though RLI operates more broadly and at a larger scale.
• Employers Holdings (EIG): A specialty workers compensation insurer serving small businesses, distributed through agents. Comparable niche specialization, agent-driven model, and small-business focus overlap with Society's workers compensation product line and assigned risk pool role in Wisconsin.

Direct peers

• Westfield Insurance: A mutual insurance group focused on commercial P&C distributed exclusively through independent agents, with comparable size (~1,500 employees, $2B+ premium) and similar niche specialization in small-to-mid commercial lines. Both are Midwest-rooted mutuals.
• The Cincinnati Insurance Companies: A super-regional mutual property and casualty insurer serving small and mid-sized businesses through independent agents, with similar agent-driven distribution and commercial package focus. Comparable in size (~$10B premium) and similar operating philosophy around independent agent relationships.

Broad incumbents

• Markel Group: A specialty insurance carrier known for niche commercial and hospitality-adjacent lines. Markel writes specialty P&C through both direct and agent channels and has historically targeted restaurant, bar, and entertainment risks - directly overlapping Society's hospitality specialty.
• Selective Insurance Group: A super-regional commercial P&C carrier with strong small commercial and hospitality exposure, distributed through independent agents. Similar size band and operating model targeting small-to-mid commercial accounts in the Eastern and Central US.
• The Hanover Insurance Group: A specialty P&C carrier with strong small commercial and middle market presence distributed through independent agents. Comparable agent channel model and focus on niche commercial segments including hospitality and food service.
• Erie Indemnity: A regional mutual insurer primarily selling personal and commercial P&C through exclusive agents. Comparable mutual structure, regional Midwest presence, and small-business commercial focus make it a structurally similar peer despite larger personal lines mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/SocietyInsurance
• Facebookfacebook.com/SocietyInsurance
• LinkedInlinkedin.com/company/71453
• Instagraminstagram.com/Societyinsurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 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 Society Insurance Company