AgriSompo

What AgriSompo does

AgriSompo North America is one of the largest federally-sponsored crop insurance providers in the United States, formed in 2021 through the merger of ARMtech Insurance Services and Diversified Crop Insurance Services, both subsidiaries of Sompo International. The company operates as an Approved Insurance Provider (AIP) under the USDA Risk Management Agency's Standard Reinsurance Agreement, administering multi-peril crop insurance (MPCI), Whole Farm Revenue Protection (WFRP), Micro Farm, Margin Protection, livestock products (LRP, LGM, DRP), and a suite of private products including Crop Hail, Replant Option, and named-peril coverages. AgriSompo maintains an A+ (Superior) Financial Strength Rating from AM Best, reaffirmed annually since 2017.

The company's central technology asset is AgriNet, a proprietary crop insurance processing platform deployed since the 2002 reinsurance year. AgriNet handles quoting, policy management, acreage reporting, mapping, and claims processing across the full insurance lifecycle, with a mobile companion (AgriNet Connect), precision-agriculture data integration, and an upcoming automated livestock-quoting module. Agents interact with AgriNet as the system of record for policy operations, while policyholders access their accounts through online portals.

AgriSompo distributes exclusively through a nationwide network of independent crop insurance agents who sell and service policies to farmers and ranchers across all major US agricultural regions. Revenue is generated from federal crop insurance premiums (with risk shared with the federal government through the SRA), livestock and private product premiums, and ancillary fees such as the $655 CAT administration fee. The company employs 1,001-5,000 people and is headquartered in Lubbock, Texas, serving as the US agricultural insurance arm of Sompo International.

Name

AgriSompo

Legal name

AgriSompo

Website

https://agrisompo.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

AgriSompo North America is a federally-approved crop insurance provider that administers multi-peril crop, livestock, and specialty-crop insurance products to US farmers and ranchers through a nationwide network of independent agents and its proprietary AgriNet platform.

Ownership category

akta.pro rank

Product category

Crop Insurance

NAICS

Support Activities for Animal Production (11521)

SIC

Agricultural Services (700)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

akta.pro secondary industries

Farm Risk Management & Insurance Advisory (AFACAJAD), Agriculture / Crop & Livestock Reinsurance (FSAOABAO)

Keywords

• Crop insurance
• Agricultural insurance
• Livestock insurance
• Multi-peril crop insurance
• Revenue protection coverage

Headquarters

HQ city

Lubbock

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Federal Crop Insurance Premiums: AgriSompo generates revenue as an Approved Insurance Provider (AIP) administering federally-sponsored crop insurance. Revenue comes from premiums paid by farmers and ranchers for Multi-Peril Crop Insurance (MPCI) and other crop/livestock insurance products, with the federal government sharing risk through the Standard Reinsurance Agreement (SRA).

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

AgriSompo provides federal and private crop insurance products, livestock insurance products, and supplemental coverages to U.S. farmers, ranchers, and dairy producers. Its offerings include multi-peril crop insurance (MPCI), Crop and Livestock Income Protection (CLIP), Livestock Risk Protection (LRP), Livestock Gross Margin (LGM), Dairy Revenue Protection (DRP), Whole Farm Revenue Protection (WFRP), Crop Hail, Named Peril, and endorsements such as Enhanced Coverage Option (ECO), Supplemental Coverage Option (SCO), Margin Coverage Option (MCO), Post-Application Coverage Endorsement (PACE), Replant Option, Apiculture, Annual Forage, Nursery, Pasture/Rangeland/Forage (PRF), BAND, and Xtra Bundle. Policies are priced and serviced through the proprietary AgriNet platform and delivered via a nationwide network of independent crop insurance agents.

Product overview

AgriSompo is one of the largest crop insurance providers in the United States, offering a comprehensive portfolio of federal crop insurance products, private products, and livestock insurance through its proprietary AgriNet technology platform. The core product portfolio centers around multi-peril crop insurance (MPCI) including Revenue Protection (RP), Yield Protection (YP), and Whole Farm Revenue Protection (WFRP), supplemented by livestock coverage (LRP, LGM, DRP). The AgriNet platform serves as the central processing system enabling agents to quote, write, and service policies. Private products like Crop Hail, Xtra Bundle, and BAND provide additional coverage options. Recent additions include Crop and Livestock Income Protection (CLIP) and automated livestock quoting capabilities. The company combines crop and livestock insurance with expert industry knowledge to deliver nationwide risk management services.

Differentiator

Problem solved

Functional benefit

Brands

• AgriNet: Proprietary crop insurance processing software platform used by agents and policyholders
• AgriNet Connect
• AgriNet Quoting
• AgriNet Mapping
• ACRE
• ASNA Edge
• Silver Circle Award

Products and services

• Multi-Peril Crop Insurance (MPCI)
• Whole Farm Revenue Protection (WFRP)
• Crop and Livestock Income Protection (CLIP)
• Livestock Risk Protection (LRP)
• Livestock Gross Margin (LGM)
• Dairy Revenue Protection (DRP)
• Crop Hail Insurance
• Named Peril Crop Insurance
• Apiculture Insurance
• Annual Forage Insurance
• Pasture, Rangeland, and Forage (PRF) Insurance
• Nursery Crop Insurance
• Catastrophic (CAT) Coverage

Quantifiable outcome

• Claims payments arrive within days if paperwork is in order
• +1 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• USDA Risk Management Agency (RMA)coreOthersAgriSompo operates as an Approved Insurance Provider (AIP) administering federal crop insurance programs under the Standard Reinsurance Agreement (SRA) with USDA RMA. RMA sets program rules, premium rates, and oversees the federal crop insurance program.
• Farm Service Agency (FSA)coreOthersFSA administers disaster relief programs like Emergency Relief Program (ERP) and other agricultural programs that complement crop insurance. AgriSompo works with FSA on disaster assistance and program coordination.
• Independent Crop Insurance AgentscoreChannel Partner/ Reseller/ DistributorNationwide network of independent agents who sell and service AgriSompo crop and livestock insurance products to farmers and ranchers across the United States.
• Diversified Crop Insurance ServicescoreOthersDiversified Crop Insurance Services merged with ARMtech in 2021 to form AgriSompo North America, combining expertise and capabilities of both organizations.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• CUNA Mutual Group: CUNA Mutual owns ProAg, giving it a major AIP position; it is a broader financial services and insurance company where AgriSompo's crop insurance franchise overlaps with one of its operating businesses.
• Farm Bureau Financial Group: Farm Bureau Financial is a large affinity-based US P&C and crop insurer with multi-state agent distribution, overlapping indirectly with AgriSompo's agricultural insurance offering through its own crop insurance affiliates.
• QBE North America (Crop): QBE is a global P&C insurer with a US crop insurance offering; broader and more diversified than AgriSompo but competes in the same federal crop insurance market with similar AIP economics.

Direct peers

• NAU Country Insurance Company: NAU Country is one of the largest Approved Insurance Providers in the US federal crop insurance program, offering MPCI, livestock, and specialty crop products through independent agents — directly comparable in product mix, distribution model, and regulatory position to AgriSompo.
• Rural Community Insurance Services (RCIS): RCIS is one of the top US crop insurance providers and an AIP, focused on multi-peril crop and hail coverage distributed through independent agents — a direct peer in scale and product scope to AgriSompo.
• Rain and Hail (Chubb): Rain and Hail, now part of Chubb, is a long-established AIP offering federal crop and livestock insurance through independent agents with proprietary processing technology — a direct head-to-head competitor to AgriSompo in the same SRA framework.
• Hudson Insurance Group: Hudson is an established AIP writing federal multi-peril crop insurance and private crop products through agent networks — a comparable mid-to-large AIP competitor to AgriSompo.
• Great American Insurance Company (Crop Division): Great American operates a significant crop insurance division offering federal and private crop products through agents — overlapping product portfolio, and notably the prior employer of AgriSompo's SVP of Analytics and Actuarial.
• ProAg (CUNA Mutual Group): ProAg is a major AIP under CUNA Mutual offering the full federal crop insurance portfolio plus livestock products through independent agents — overlapping with AgriSompo's crop, livestock, and WFRP lines on an agent-distributed basis.

Others

• Sompo International: Sompo International is AgriSompo's parent company and a global P&C insurer; comparable as an ecosystem participant providing capital, reinsurance support, and strategic direction rather than as a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AgriSompoNAComm
• LinkedInlinkedin.com/company/agrisompo-north-america

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 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 AgriSompo