Innovated Holdings

What Innovated Holdings does

Innovated Holdings is a privately held holding company formed in 2019 and headquartered in Concordia, Missouri, that delivers shared technology, reinsurance, marketing, analytics, cybersecurity, and operational services to partner mutual insurance companies across the U.S. Midwest. It was created by CFM Insurance — a 1869-founded Missouri farm mutual that today ranks among the state's top three and carries $8 billion in force insurance across 30,000+ policyholders served by 900+ agents — to extend the platform beyond the mutual-only structure and to consolidate a family of operating brands including CFM Insurance Agency, Full Circle Marketing, Full Circle Advisors, and Full Circle Analytics.

The platform's product surface includes a proprietary quoting system with API integration, a white-label policyholder mobile application delivered through Tuerri (acquired 2019), a cybersecurity offering, and the Full Circle Analytics platform for predictive modeling and risk analysis. These capabilities are licensed to affiliate mutuals — Forreston Mutual Insurance and Oakwood Mutual among them — that retain their independent brands and policyholder relationships while outsourcing core functions to Innovated Holdings. Reinsurance access is delivered in partnership with BMS.re, allowing smaller mutuals to participate in risk-transfer programs they could not access independently.

The business model is B2B and recurring: partner mutuals pay ongoing fees for shared services, technology licensing, and reinsurance program access, while M&A activity (Farmers Mutual of Grundy County 2016, Farmers Mutual of Benton County 2019, Meramec Valley 2022, Lewis County Mutual) generates additional premium and fee income flowing into the group. The corporate structure spans a stock insurance subsidiary (acquired 2019 under Chapter 379) and the mutual affiliates, allowing Innovated Holdings to address both mutual and stock-company segments of the regional insurance market. Leadership includes President & CEO Jake Black, CFO Jennifer Regas, and General Counsel Scott Forrest.

Name

Innovated Holdings

Legal name

Innovated Holdings, Inc.

Website

https://innovatedholdings.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

Innovated Holdings is a privately held holding company, formed in 2019 by CFM Insurance, that delivers shared technology, reinsurance, marketing, analytics, and operational services to partner mutual insurance companies across the U.S. Midwest, enabling affiliates to retain independence while accessing consolidated scale.

Ownership category

akta.pro rank

Headquarters

HQ city

Concordia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Services and Partnership Fees: Innovated Holdings generates revenue by providing shared services, technology solutions, and operational support to affiliated mutual insurance companies. The company offers economies of scale through consolidated purchasing and resource sharing across its partner network.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Innovated Holdings is a holding company that provides shared services, technology solutions, and operational support to affiliated mutual insurance companies. It allows partner mutual insurers to retain their unique identities while gaining access to economies of scale, technology, marketing, accounting, reinsurance guidance, and regulatory support through its subsidiaries including CFM Insurance Agency, Tuerri (mobile app), Full Circle Marketing, Full Circle Advisors, and Full Circle Analytics.

Product overview

Innovated Holdings is a holding company for the mutual insurance industry that operates a platform-plus-subsidiary model. The core holding company provides administrative, technology, and operational support services to affiliated mutual insurance companies, while distinct subsidiary brands deliver specialized offerings: CFM Insurance Agency provides insurance distribution, Tuerri delivers mobile app technology integrated with InsuranceNow, Full Circle Marketing handles marketing services, Full Circle Advisors provides financial advisory, and Full Circle Analytics delivers data analytics. The company also offers add-on modules including a robust quoting system, cybersecurity solutions, regulatory support, reinsurance guidance, and accounting support—all designed to help mutual insurance companies achieve economy of scale while retaining their unique identities.

Differentiator

Problem solved

Functional benefit

Brands

• CFM Insurance Agency: An affiliated company of Innovated Holdings serving as a resource for affiliates and agents in providing access to outside companies and lines of business.
• Tuerri
• Full Circle Marketing
• Full Circle Advisors
• Full Circle Analytics

Products and services

• CFM Insurance Agency An affiliated insurance agency providing affiliates and agents access to outside companies and lines of business, offering diverse insurance solutions tailored to meet unique needs and goals.
• Tuerri Mobile App Solution A turn-key white-label mobile solution for InsuranceNow that manages the complexities of integrations and annual iOS and Android updates while delivering new features to continuously improve value. Enables policyholders to manage policies, make payments, file claims, and receive notifications from mobile devices.
• Full Circle Marketing Marketing partner for mutual insurance companies that helps professionals build brand strength and value, establish trust with their communities, and grow revenue through effective marketing strategies including strategy development, branding, advertising, social media, and email marketing.
• Full Circle Advisors Internal insurance advisory company that provides objective advice, training, and information to better control financial risk exposures for insurance companies, leveraging cutting-edge financial modeling tools and methodologies.
• Full Circle Analytics Specialized data analyst company providing advanced analytics for the insurance industry, offering predictive modeling, risk analysis, claims analysis, and customer analytics to help companies make data-driven decisions.

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature4 records

Partnerships

Six partnerships are on record, tiered flagship and core.

• CFM InsuranceflagshipStrategic or Co-development Partner · 1 January 2019In 2019, CFM Insurance formed Innovated Holdings to acquire a chapter 379 stock company, expanding into new markets and product lines. CFM Insurance is a Missouri-exclusive mutual insurance company since 1869 with 900+ agents and 30,000 policyholders.
• BMS.recoreStrategic or Co-development PartnerInnovated Holdings partnered with BMS.re to create diverse reinsurance programs including Casualty Clash – Excess of Loss, Property Catastrophe Excess of Loss, Multiple Line Excess of Loss, Unlimited Aggregate Excess of Loss, Earthquake Quota Share, Umbrella Quota Share, and Auto Quota Share.
• TuerricoreTechnology or IntegrationInnovated Holdings partnered with Tuerri to bring insurance professionals a white-label policyholder app designed to enhance their brand and improve customer experience. The customizable solution allows insurance professionals to tailor the app to their unique brand, enabling policyholders to manage policies, make payments, file claims, and receive notifications from mobile devices.
• Forreston Mutual InsurancecoreStrategic or Co-development PartnerInnovated Holdings partnered with Forreston Mutual Insurance to provide section 2 liability coverage to every Forreston insured. The partnership allowed Forreston Mutual to leverage Innovated Holdings' marketing and distribution channels to expand its customer base in the Illinois market.
• Oakwood MutualcoreStrategic or Co-development PartnerOakwood Mutual is one of three strong and reputable partners contributing to Innovated Holdings' continued growth and success.
• Full Circle MarketingcoreStrategic or Co-development PartnerFull Circle Marketing is a subsidiary providing comprehensive marketing solutions for insurance professionals including strategy development, branding, advertising, social media, and email marketing with a data-driven approach to help businesses reach their ideal audience.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Farm Bureau Financial Group: Mutual insurance and financial services provider serving farm and rural households across the Midwest, comparable in farm mutual customer base and multi-state Midwest distribution.
• Cincinnati Financial: Insurance holding company operating a flagship mutual carrier plus agency subsidiary (Cincinnati Insurance) with multi-line property/casualty underwriting, comparable in the holding-company-plus-affiliate model and Midwest commercial lines focus.
• Markel Corporation: Insurance holding company combining specialty underwriting and insurance-linked services, comparable as a holding-company model serving multiple insurance affiliates with shared capabilities.
• EMC Insurance Companies: Mutual insurance holding company providing property/casualty coverage through affiliated mutuals and agencies, comparable as a publicly traded insurance holding company serving a network of affiliated mutuals.
• Berkshire Hathaway (Insurance): Diversified insurance holding company with reinsurance, P&C, and specialty operations, comparable in the holding-company aggregating insurance carriers and using reinsurance scale for competitive advantage.

Regional players

• COUNTRY Financial: Midwest-based mutual insurance and financial services group serving farm and rural customers across Illinois and surrounding states, highly comparable in target customer segment (farm/rural) and Midwest geography.
• Shelter Insurance: Missouri-based mutual insurance carrier with regional agent network and personal lines focus, directly comparable as a Missouri-headquartered mutual insurance competitor in the same geographic footprint.

Others

• Vertafore: Insurance technology vendor providing agency management, rating, and workflow software to mutual and regional carriers, comparable as an enabling insurtech provider to the same target customer base.
• Applied Systems: Insurance technology platform serving independent agents and small/mid-market carriers with agency management and digital tools, comparable as a tech-enablement peer serving the same mutual and regional insurance ecosystem.

Direct peers

• Erie Indemnity Company: Publicly traded management-services and exchange model that provides shared services, technology, and underwriting support to a network of affiliated mutual-like insurance entities, directly comparable to Innovated Holdings' holding-company-plus-affiliate structure.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/innovated-holdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 Innovated Holdings