Madison Mutual

Personal Property and Casualty Insurancemadisonmutual.com

Company typePrivate
Founded1924
HeadquartersEdwardsville, United States
Headcount11–50
GTM typeB2C
OfferingServices

Madison Mutual firmographics

Firmographics

Name: Madison Mutual
Legal name: Madison Mutual Insurance Company
Website: https://madisonmutual.com
Company type: Private
Founded year: 1924
Operating status: Operating
Headcount range: 11–50 employees
Ownership category
akta.pro rank

Madison Mutual industry classification

Industry

Product category: Personal Property and Casualty Insurance
NAICS: Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)
SIC: Insurance Agents, Brokers & Service (6411)
akta.pro primary industry: Retail (Personal Lines) Insurance Brokerage (FSAEADAA)
akta.pro secondary industry: Retail & Wholesale BOP (Mercantile) (FSAJAFAF)

Keywords

Personal property insurance
Auto insurance coverage
Homeowners insurance policies
Farmowners insurance coverage
Umbrella liability insurance

Where Madison Mutual is headquartered

Location

Headquarters

HQ city: Edwardsville
HQ country: United States
HQ region: North America

Offices1 record

Markets served

Madison Mutual business model

Business model

GTM type: B2C
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

Insurance Premiums: Madison Mutual generates revenue through collecting insurance premiums from policyholders across multiple product lines including auto, homeowners, farmowners, umbrella, and small business policies. Premiums are collected through agents, online portal, mail, or phone payments.

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Quote-based pricing through independent agents

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Madison Mutual product offering

Product offering

Core offering

Madison Mutual is a regional mutual insurance company that sells personal property and casualty insurance products to individuals, families, and small businesses in the Midwest. Its core product lines include auto insurance, homeowners insurance, farmowners insurance, umbrella liability coverage, and small business owners policies (BOP), distributed exclusively through a network of independent insurance agents in Illinois, Missouri, Wisconsin, and Indiana.

Product overview

Madison Mutual is a regional insurance company offering a portfolio of core property/casualty insurance products: Auto Insurance, Homeowners Insurance, Farmowners Insurance, Umbrella Coverage, and Business Owners Policy (BOP). These core products are complemented by add-on modules such as Rental Reimbursement, 24/7 Roadside Assistance, and No-Deductible Glass Coverage for auto, and various optional coverages for homeowners and farmowners. The company also provides digital platforms including a Customer Self-Service Portal and an Agent Policy Portal. The company serves policyholders in Illinois, Missouri, Wisconsin, and Indiana.

Differentiator

Problem solved

Functional benefit

Products and services

Auto Insurance

Quantifiable outcome

24-hour adjuster contact guarantee after claim submission
+1 more outcomes

Companies that use Madison Mutual

Customer profile

Segments5 records

Ideal customer profiles4 records

Madison Mutual technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

Madison Mutual partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Akur8coreTechnology or Integration · 18 July 2023Madison Mutual Insurance Company partnered with Akur8 to boost their pricing capabilities across personal lines of business. This partnership enhances actuarial pricing through advanced analytics and machine learning technology, enabling more accurate and competitive pricing across auto, homeowners, and other personal insurance products.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Madison Mutual competitors and assessment

Company assessment

Direct peers

Erie Insurance: Regional mutual P&C insurer distributing primarily through independent agents across the Midwest and Eastern U.S. Highly comparable business model, distribution strategy, and product mix (auto, home, commercial).
Auto-Owners Insurance: Midwest-headquartered mutual P&C carrier selling exclusively through independent agents. Closely comparable on mutual structure, agent-only distribution, and personal/commercial lines mix.
Shelter Insurance: Mutual P&C insurer headquartered in Missouri, distributing through career and independent agents across the Midwest. Highly comparable personal lines focus and Midwestern regional footprint.
Country Financial (Country Mutual): Midwest-based mutual insurance group offering auto, home, farm, and life products. Overlapping personal and farm lines and geographic footprint with Madison Mutual.
Cincinnati Financial: Midwest-headquartered public P&C insurer using independent agent distribution. Comparable product mix and agent-led model, though at significantly larger scale.
Westfield Insurance: Ohio-based mutual P&C carrier distributing through independent agents with a Midwest concentration. Comparable mutual structure and personal/commercial lines mix.
Grinnell Mutual: Iowa-based mutual reinsurer and direct P&C writer serving Midwest farm and personal lines. Highly comparable mutual structure and farm-focused underwriting.
Farm Bureau Financial Group: Midwest farm bureau-affiliated P&C and life insurer offering farm, home, and auto coverage. Directly comparable on farmowners specialization and rural Midwest customer base.
Hastings Mutual Insurance: Michigan-based mutual P&C insurer with similar independent agent distribution model and overlapping Midwest farm and personal lines focus.

Broad incumbents

State Farm: Largest U.S. personal lines P&C carrier with massive agent network and dominant Midwest market share. Direct competitor across all of Madison Mutual's core product lines at far greater scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Madison Mutual financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Madison Mutual leadership team

Management profile

Number of profiles

Profiles14 records

Madison Mutual funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

Madison Mutual M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about Madison Mutual

What does Madison Mutual do?

Is Madison Mutual a public or private company?

Madison Mutual is a private company. It is classified as unknown and is currently operating.

When was Madison Mutual founded?

Madison Mutual was founded in 1924. It employs 11 to 50 people.

Where is Madison Mutual based?

Madison Mutual is headquartered in Edwardsville, United States, in the North America region.

How does Madison Mutual make money?

One revenue line is on record: insurance Premiums.

Who are Madison Mutual's main competitors?

Direct peers on record are Erie Insurance, Auto-Owners Insurance, Shelter Insurance, Country Financial (Country Mutual), Cincinnati Financial, Westfield Insurance, Grinnell Mutual, Farm Bureau Financial Group and Hastings Mutual Insurance. State Farm is listed as a broad incumbent.

Does Madison Mutual have an API?

No public API is recorded for Madison Mutual.

What industry is Madison Mutual in?

Madison Mutual's product category is Personal Property and Casualty Insurance. Its primary akta.pro industry code is FSAEADAA, Retail (Personal Lines) Insurance Brokerage, with a secondary code of FSAJAFAF, Retail & Wholesale BOP (Mercantile). Its NAICS code is 52421 and its SIC code is 6411.