Security Mutual Insurance
Security Mutual Insurance is a privately held mutual property and casualty carrier headquartered in Ithaca, New York, founded in 1887. It sells personal and commercial P&C coverage exclusively through 400+ independent agents across New York State, under the Security Mutual Group brand.
- Company typePrivate
- Founded1887
- HeadquartersIthaca, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Security Mutual Insurance does
Security Mutual Insurance, operating under the Security Mutual Group brand, is a privately held mutual property and casualty insurance carrier headquartered in Ithaca, New York. Founded in 1887, the company operates through two carrier entities: Security Mutual Insurance Company and its wholly owned subsidiary Security Cooperative Insurance Company. Both carriers are domiciled in New York and serve the personal and commercial P&C market exclusively within New York State. The company distributes solely through a network of over 400 independent insurance agents statewide, with no direct-to-consumer or captive-agent channels, and operates with a 11-50 employee base alongside that agent distribution.
The carrier's product portfolio spans six personal lines (Homeowners, ULTRA Homeowners, Personal Umbrella, Dwelling Fire, Manufactured/Mobile Homeowners, and Landlord Package for properties up to 4 units) and four commercial lines (Commercial Fire, Special Multi-Peril, Business Owners Package, and Artisan Pak for artisan contractors). A stated strategic emphasis is the willingness to underwrite "harder-to-place" personal and commercial risks declined by standard carriers. Revenue is generated entirely through recurring insurance premiums, supported by six payment cadences (1Pay annual, 2Pay biannual, 3Pay, 4Pay quarterly, 6Pay, 9Pay) with minimum-premium thresholds ranging from $100 to $400.
Technology is multi-vendor rather than proprietary: Finys Suite handles quoting, policy management, and billing; AgentXpress serves as the agent portal for applications and endorsements; InsuraSphere supports billing and policy administration; Truepic Self-Inspection enables policyholder-driven image capture for claims and policy verification; and IVANS Coverage Codes provide standardized agency-carrier integration. No AI, machine learning, or underwriting-automation capabilities are disclosed; the technology layer is oriented toward agent productivity, policyholder self-service, and claims workflow digitization. The company is structured as a mutual (policyholder-owned), with no external parent, private equity sponsor, or venture funding identified, and no disclosed revenue, premium volume, or financial metrics.
Security Mutual Insurance firmographics
Firmographics- Name
- Security Mutual Insurance
- Legal name
- Security Mutual Insurance Company
- Website
- https://securitymutual.com
- Company type
- Private
- Founded year
- 1887
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Security Mutual Insurance is a privately held mutual property and casualty carrier headquartered in Ithaca, New York, founded in 1887. It sells personal and commercial P&C coverage exclusively through 400+ independent agents across New York State, under the Security Mutual Group brand.
- Ownership category
- akta.pro rank
Security Mutual Insurance industry classification
Industry- Product category
- Regional Property and Casualty Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Public Liability (Premises/Operations) (FSAJADAD)
- akta.pro secondary industry
- Personal Umbrella Insurance (FSAJANAA)
Keywords
Where Security Mutual Insurance is headquartered
LocationHeadquarters
- HQ city
- Ithaca
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Security Mutual Insurance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Property and Casualty Insurance Premiums: Security Mutual Insurance Company and Security Cooperative Insurance Company generate revenue through property and casualty insurance premiums. The company offers various payment plans including annual, biannual, quarterly, and monthly payment options with minimum premium requirements ranging from $100 to $400 depending on the plan selected.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | 1Pay (Annual) - No minimum premium requirement |
| Subscription | Multi-year contract | 2Pay (Biannual) - Minimum premium $200 |
| Subscription | Monthly | 3Pay - Minimum premium $100 |
| Subscription | Pay-as-you-go | 4Pay (Quarterly) - Minimum premium $200 |
| Subscription | Monthly | 6Pay - Minimum premium $200 |
| Subscription | Monthly | 9Pay - Minimum premium $400 |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Security Mutual Insurance product offering
Product offeringCore offering
Security Mutual Insurance provides personal and commercial property and casualty insurance products to residents and businesses in New York State. The company offers a portfolio of personal lines (homeowners, umbrella, dwelling fire, manufactured/mobile home, landlord package) and commercial lines (commercial fire, special multi-peril, business owners package, artisan contractor coverage) distributed through a network of over 400 independent agents.
Product overview
Security Mutual Insurance Company and Security Cooperative Insurance Company provide Property and Casualty Insurance for homes and businesses through a network of over 400 independent agents throughout New York State. The company operates as a single unified insurance carrier offering a coordinated portfolio of personal lines products (Homeowners, ULTRA Homeowners, Personal Umbrella, Dwelling Fire, Manufactured Mobile Homeowners, Landlord Package) and commercial lines products (Commercial Fire, Special Multi-Peril, Business Owners Package, Artisan Pak). The personal lines and commercial lines products share agent distribution channels and are supported by common technology platforms including Finys and InsuraSphere.
Differentiator
Problem solved
Functional benefit
Brands
- Security Mutual Group: Parent brand encompassing Security Mutual Insurance Company and Security Cooperative Insurance Company
Products and services
- Homeowners Standard homeowners insurance coverage protecting personal residences and belongings for individuals and families in New York State.
- ULTRA Homeowners Premium homeowners insurance product with enhanced coverage features for individuals seeking broader protection for their personal residences.
- Personal Umbrella Additional liability coverage that activates when limits on existing personal policies are exhausted, providing extra protection for assets and family.
- Dwelling Fire Insurance coverage for fire damage and related perils to dwelling properties for property owners in New York State.
- Manufactured Mobile Homeowners Insurance coverage specifically designed for manufactured and mobile homes for owners of these types of residences.
- Landlord Package Coverage for tenant-occupied homes with up to 4 living units, tailored to the unique needs of landlords renting out residential properties.
- Commercial Fire Fire insurance coverage for businesses that may not qualify for standard business policies, addressing non-standard commercial risks.
- Special Multi-Peril Multi-peril commercial insurance that can be customized to offer specific coverage needed for businesses in New York State.
- Business Owners Package (BOP) Comprehensive insurance package combining property and liability coverage for small to medium-sized business owners in New York State.
- Artisan Pak Program providing Property, Liability, and Inland Marine coverage for select classes of Artisan Contractors in New York State.
Companies that use Security Mutual Insurance
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Security Mutual Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Security Mutual Insurance partnerships and signals
Strategic signalScale indicators3 records
Recent moves5 records
Expansion highlights4 records
Security Mutual Insurance competitors and assessment
Company assessmentDirect peers
- Plymouth Rock Assurance: Northeast regional P&C insurer offering personal lines (home, auto) and small commercial coverage through independent agents. Comparable regional footprint and product focus.
- NYCM Insurance: New York Central Mutual Insurance — a New York-based mutual P&C carrier offering personal and commercial coverage through independent agents. Directly comparable given NY focus, mutual ownership, and independent agent distribution model.
- Selective Insurance Group: Regional P&C carrier serving small to mid-sized businesses and personal lines through independent agents across the Northeast and Mid-Atlantic. Comparable product mix and distribution.
- Auto-Owners Insurance: Mutual P&C carrier distributing exclusively through independent agents across multiple states. Closely aligned mutual structure and independent agent distribution model, though operating across a broader geography.
- Erie Insurance: Regional mutual P&C insurer that distributes exclusively through independent agents across the Northeast and Mid-Atlantic. Closely comparable business model despite broader geographic footprint.
- Utica National Insurance Group: New York-based mutual property and casualty insurance carrier serving personal and commercial lines through independent agents. Closest comparable to Security Mutual given overlapping NY geography, mutual structure, and independent agent distribution.
- Westfield Insurance: Mutual P&C carrier distributing through independent agents across the Midwest and Northeast. Comparable mutual structure, independent agent model, and commercial lines emphasis.
- Hanover Insurance Group: Northeast-focused P&C carrier offering personal and commercial lines through independent agents. Comparable regional positioning and product mix, though operates as a stock company across multiple states.
Broad incumbents
- Cincinnati Financial: Large publicly-traded regional P&C carrier distributing through select independent agents with strong commercial lines emphasis. Comparable independent agent model but at materially greater scale and broader geography.
- Travelers: One of the largest U.S. P&C insurance carriers offering personal and commercial lines through independent agents and brokers. Sets competitive benchmark for regional carriers in the NY P&C market, though vastly larger in scale and product breadth.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Security Mutual Insurance social profiles
Digital presenceSecurity Mutual Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Security Mutual Insurance leadership team
Management profileNumber of profiles
Security Mutual Insurance subsidiaries and ownership
Company hierarchySubsidiaries1 record
Security Mutual Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Security Mutual Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Security Mutual Insurance
What does Security Mutual Insurance do?
Security Mutual Insurance provides personal and commercial property and casualty insurance products to residents and businesses in New York State. The company offers a portfolio of personal lines (homeowners, umbrella, dwelling fire, manufactured/mobile home, landlord package) and commercial lines (commercial fire, special multi-peril, business owners package, artisan contractor coverage) distributed through a network of over 400 independent agents.
Is Security Mutual Insurance a public or private company?
Security Mutual Insurance is a private company. It is classified as unknown and is currently operating.
When was Security Mutual Insurance founded?
Security Mutual Insurance was founded in 1887. It employs 11 to 50 people.
Where is Security Mutual Insurance based?
Security Mutual Insurance is headquartered in Ithaca, United States, in the North America region.
How does Security Mutual Insurance make money?
One revenue line is on record: property and Casualty Insurance Premiums.
Who are Security Mutual Insurance's main competitors?
Direct peers on record are Plymouth Rock Assurance, NYCM Insurance, Selective Insurance Group, Auto-Owners Insurance, Erie Insurance, Utica National Insurance Group, Westfield Insurance and Hanover Insurance Group. Broad incumbents are Cincinnati Financial and Travelers.
Does Security Mutual Insurance have an API?
No public API is recorded for Security Mutual Insurance.
What industry is Security Mutual Insurance in?
Security Mutual Insurance's product category is Regional Property and Casualty Insurance. Its primary akta.pro industry code is FSAJADAD, Public Liability (Premises/Operations), with a secondary code of FSAJANAA, Personal Umbrella Insurance. Its NAICS code is 524126 and its SIC code is 6331.