Armed Forces Insurance

What Armed Forces Insurance does

Armed Forces Insurance (AFI) is a private property and casualty insurance reciprocal exchange founded in 1887 and headquartered in Leavenworth, Kansas. It exclusively serves the U.S. military community, including active duty, retired, Reserve, and National Guard members, veterans, DoD civilian employees, military spouses and families, and veteran-owned small businesses, with eligibility-based distribution across all 50 U.S. states and worldwide coverage for deployed members. AFI's core product portfolio spans homeowner, auto, renter, condo, business, umbrella, flood, dwelling fire, watercraft, collector vehicle, motorcycle/off-road, motorhome/travel trailer, mobile home, valuable items, pet health (via Safeco/Embrace), travel (via Chubb), and life insurance (via AFBA/5Star Life).

Underlying the insurance operations is a reciprocal exchange structure (AFIE) and an agency subsidiary (AFIA), governed by a Subscribers' Advisory Committee of active, reserve, and retired military members. Members contribute 9% of premium as surplus to Subscriber Capital Accounts (SCAs) that vest over five years. The technology layer consists of the AFIconnect web member portal and iOS/Android mobile applications for policy management, claims filing, billing, and document access, layered on top of a multi-carrier distribution model in which AFI agents shop a network of national carriers to place coverage.

AFI's revenue is generated from policyholder premiums on the exchange, 9% SCA surplus contributions, and commission income from partner carriers. Distribution is sales-led, with licensed agents serving members by phone, online, and in person at Leavenworth headquarters, supplemented by affinity partnerships with military installations, base housing offices, veteran service organizations (American Legion, VFW, MWSF, MSAN, NaVOBA), and high-visibility sponsorships such as the Lockheed Martin Armed Forces Bowl and the Military Spouse of the Year® program. The company is wholly member-owned, has no parent company, and is neither PE/VC-backed nor publicly traded.

Name

Armed Forces Insurance

Legal name

Armed Forces Insurance Corporation

Website

https://afi.org

Company type

Private

Founded year

1887

Operating status

Operating

Headcount range

51–100 employees

Short description

Armed Forces Insurance is a private, member-owned reciprocal exchange founded in 1887 that provides property, casualty, and specialty insurance exclusively to U.S. military members, veterans, DoD employees, military families, and veteran-owned businesses across all 50 states.

Ownership category

akta.pro rank

Product category

Military Property and Casualty Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Agencies and Brokerages (52421)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Veterans Affairs & Military Family Services (BPAIAHAL)

akta.pro secondary industries

General Liability Insurance (FSAJAMAE), Umbrella Insurance (FSAJAMAK), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

Keywords

• Military insurance
• Property casualty insurance
• Reciprocal insurance exchange
• Homeowners insurance
• Auto insurance

Headquarters

HQ city

Leavenworth

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Property & Casualty Insurance Premiums: AFI generates revenue through insurance premiums collected from policyholders. As a reciprocal exchange, the company is owned by its members (policyholders). Premiums are charged based on coverage types including homeowner, auto, renter, business, and specialty insurance products.
2. Surplus Contributions: Members contribute 9% of their total premium as surplus contributions, which are credited to their Subscriber Capital Account (SCA). These contributions support the company's financial reserves and operational stability.
3. Partner Carrier Commissions: AFI acts as an agent/broker for national insurance carriers, earning commissions when policies are placed with partner companies. The company states they 'shop our network of national carriers to find the best value and options'.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Armed Forces Insurance is a reciprocal exchange insurance company that underwrites and distributes property and casualty insurance products, including homeowner, auto, renter, business, flood, umbrella, and specialty coverages, primarily to U.S. military members, veterans, DoD employees, and their families. The company operates as a member-owned reciprocal exchange, distributing coverage through licensed agents, an online portal, a mobile app, and a network of national carrier partners.

Product overview

Armed Forces Insurance operates as a reciprocal exchange insurance provider offering a broad portfolio of property and casualty insurance products primarily serving military members, veterans, and their families. The company provides homeowner, auto, renter, business, umbrella, condo, flood, dwelling fire, watercraft, collector vehicle, motorcycle/off-road vehicle, motorhome/travel trailer, mobile home, valuable items, pet health, travel, and life insurance products. Coverage is provided through Armed Forces Insurance Exchange (AFIE), Armed Forces Insurance Agency (AFIA), and affiliated national carrier partners. The company also offers the AFIConnect member service portal for policy management, claims filing, and payments. Products are tailored to military life with features like worldwide coverage for deployed members, no credit score requirements for renter policies, and personalized agent service.

Differentiator

Problem solved

Functional benefit

Brands

• AFI Connect: Online member service portal for policy management, claims filing, and account access
• Military Spouse of the Year (MSOY)
• Great American Patriot Award

Products and services

• Homeowner Insurance Comprehensive homeowner insurance package protecting dwelling, personal property, and personal liability against damage from fire, severe weather, and other covered perils, with military-specific features including worldwide coverage that follows members through PCS moves and deployments.
• Auto Insurance Military auto insurance providing liability coverage, personal injury protection, medical payments, collision, comprehensive, and uninsured/underinsured motorist coverage for service members, veterans, and their families.
• Renter Insurance Renter insurance protecting personal belongings from fire, theft, and water damage, and covering personal liability, with worldwide coverage including deployment periods and no credit score requirements.
• Business Insurance Business insurance covering property, liability, vehicles, workers compensation, and builder's risk for veteran-owned small businesses, entrepreneurs, medical/dental/legal practices, contractors, and veteran service organizations.
• Umbrella Insurance Supplemental liability policy providing extra protection over auto, homeowner, or renter policies with coverage options ranging from $1,000,000 to $5,000,000 in most states.
• Condo Insurance Condominium insurance covering condo interior, personal property, loss of use, personal liability, medical payments, and loss assessment.
• Dwelling Fire (Landlord) Insurance Dwelling fire policy (landlord insurance) protecting homes rented to others, covering fire, wind, hail damage, and vandalism.
• Flood Insurance Flood coverage available through NFIP and private flood insurance options, covering structure and personal property from water damage.
• Watercraft Insurance Watercraft insurance covering boats, pontoons, fishing boats, sailboats, and personal watercraft against liability and damage from collision, sinking, and vandalism.
• Collector Vehicle Insurance Collector vehicle insurance for antiques, muscle cars, street rods, modern classics, trucks, and vehicles under restoration with agreed value coverage and no deductible, placed through Hagerty Insurance Company.
• Motorcycle and Off-Road Vehicle Insurance Motorcycle and off-road vehicle insurance covering ATVs, UTVs, golf carts, snowmobiles, and trail bikes with liability and physical damage protection.
• Motorhome and Travel Trailer Insurance Insurance for Class A, B, and C motorhomes, travel trailers, campers, pop-ups, and fifth-wheels with coverage for belongings and liability.
• Mobile Home Insurance Mobile and manufactured home insurance addressing special exposures through specialty carriers.
• Valuable Items Insurance Supplemental policy covering jewelry, watches, furs, firearms, fine art, antiques, rare books, and musical instruments with zero deductible and agreed value, at $9 per year per $1,000 of coverage.
• Pet Health Insurance Pet health insurance through Safeco Insurance (administered by Embrace Pet Insurance Agency) covering accidents and illnesses for dogs and cats, including cancer treatment, diagnostic testing, surgery, and prescription drugs.
• Travel Insurance Travel insurance through Chubb covering medical emergencies, trip disruptions, lost passports, and emergency transportation.
• Life Insurance Group term life insurance offered through AFBA (Armed Forces Benefits Association) with coverage amounts from $50,000 to $500,000, underwritten by 5Star Life Insurance Company.
• Affinity Base Housing Insurance Specialized renter insurance for military families in base housing, offered in Basic, Standard, and Premium coverage tiers tailored to military living situations, with average pricing of approximately $20 per month and no installment fees for automatic payment.
• AFIconnect Member Service Portal Member self-service portal and mobile application enabling policy management, claims filing, bill payment, and account access 24/7 via web and iOS/Android apps.

Quantifiable outcome

• Average renter policy costs around $20/month with no automatic payment fees
• +2 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Armed Forces Benefits Association (AFBA)coreStrategic or Co-development PartnerAFBA was founded in 1947 in the basement of the Pentagon with support from General Dwight D. Eisenhower. AFBA provides life insurance, health plans, and life plans for 650,000 members and has paid nearly $2 billion in death benefits to military families. AFI has partnered with AFBA for all member life insurance needs.
• Military Warriors Support Foundation (MWSF)coreStrategic or Co-development PartnerAFI has a long-standing relationship as the preferred insurance company for MWSF programs. MWSF's Homes4WoundedHeroes program awards 100% mortgage-free homes to combat wounded veterans and their families, with AFI providing insurance coverage for these families.
• Military Spouse Advocacy Network (MSAN)coreGTM or Marketing PartnerAFI supports MSAN, a nonprofit that creates stronger military families through education, empowerment and support. MSAN's Military Spouse Mentorship-HUB provides peer-to-peer mentorship experiences connecting military families to local and national resources.
• MilHousing NetworkminorChannel Partner/ Reseller/ DistributorMilHousing Network is founded by military spouses to help families navigate relocations and real estate decisions during military moves. They provide guidance and mentorship through the PCS process with connections to providers who actively support the military community.
• Frontier Community Credit UnionminorStrategic or Co-development PartnerLike AFI, Frontier Community Credit Union strives to serve members to manage their financial well-being. They provide financial products and services through innovation, technology and cost-effective products in a professional, friendly atmosphere.
• Trident Home LoansminorChannel Partner/ Reseller/ DistributorTrident Home Loans is a mortgage company mainly serving armed forces personnel and Veterans. Their goal is to establish trusting relationships with veterans through the home lending process, recognizing their sacrifices.
• Veterans Real Estate Benefits (VREB) NetworkminorChannel Partner/ Reseller/ DistributorVREB is an industry leader dedicated to the military home buyer/seller. Veterans can join the VREB Home Buying/Selling program at no cost and earn up to $7,500 after closing when working with VREB agents.
• National Veteran-Owned Business Association (NaVOBA)minorGTM or Marketing PartnerNaVOBA is dedicated to contracting opportunities for America's Veteran and Service-Disabled Veteran Business Enterprises through certification, advocacy, outreach, recognition and education.
• Lockheed Martin Armed Forces BowlcoreStrategic or Co-development PartnerAFI is the official insurance partner of the Lockheed Martin Armed Forces Bowl. AFI presents the Great American Patriot Award each year during halftime, honoring individuals for exemplary service to the United States.
• Hagerty Insurance CompanyminorChannel Partner/ Reseller/ DistributorAFI insures classic and antique cars through Hagerty Insurance Company who specializes in antique and classic car exposures for collector vehicles.
• Safeco Insurance (for Pet Health)minorChannel Partner/ Reseller/ DistributorAFI partnered with Safeco Insurance to offer pet health insurance coverage for dogs and cats, administered through Embrace Pet Insurance Agency.
• Chubb (for Travel Insurance)minorChannel Partner/ Reseller/ DistributorAFI partnered with Chubb to offer travel insurance coverage, providing military members and their families with travel protection including medical emergencies, trip disruptions, and emergency transportation.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• GEICO: Large direct-to-consumer auto and P&C insurer with strong military affiliation marketing and discounts. Competes with AFI on auto and renter policies but operates across the entire U.S. market at far greater scale.
• State Farm: Largest U.S. personal lines property and casualty insurer. Competes with AFI across auto and homeowner coverage with national agent networks and broader product portfolios.
• Allstate: Major national P&C insurer competing with AFI across auto, home, and umbrella coverage. Operates at far larger scale with broader distribution and brand spend.
• Progressive: Top-tier U.S. auto insurer and growing home insurer. Competes with AFI on auto and increasingly on home, leveraging a direct digital funnel that challenges agent-led distribution.
• Liberty Mutual: Global P&C insurer with broad personal and commercial lines. Overlaps with AFI's umbrella, auto, and home offerings and competes for military-affiliated households.

Direct peers

• USAA: The dominant insurance and financial services provider serving military members, veterans, and their families. USAA is AFI's most direct competitor across auto, home, and life insurance, with materially greater scale and product breadth.
• Navy Mutual Aid Association: Member-owned military-affiliated insurer offering life insurance and survivor benefits primarily to naval service members and their families. Comparable as a mission-driven, military-only insurance provider.
• Armed Forces Benefits Association (AFBA): Founded in 1947 with Eisenhower's support, AFBA provides life insurance and benefits to 650,000 military members and is AFI's strategic partner for life coverage. Operates in the same military-affiliated niche with overlapping member base.

Emerging players

• Lemonade: Digital-native P&C insurer competing in renter, homeowner, and auto. Increasingly relevant to younger military members who prefer mobile-first purchasing and represents a structural threat to AFI's agent-led distribution model.

Others

• Navy Federal Credit Union: The largest military-affiliated financial institution offering banking, lending, and insurance products to the same member base AFI serves. Acts as a peer in the broader military financial-services ecosystem rather than a direct P&C competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ArmedForcesIns

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 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 Armed Forces Insurance