State Mutual Insurance
State Mutual Insurance is a 1936-founded mutual insurer in Rome, Georgia, offering supplemental health, life, and Medicare Supplement policies to seniors in rural and small-town America across 44 states plus DC, distributed mainly through Platinum Supplemental Insurance agents.
- Company typePrivate
- Founded1936
- HeadquartersRome, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What State Mutual Insurance does
State Mutual Insurance Company is a mutual life and health insurer headquartered in Rome, Georgia, founded in 1936 and currently licensed to operate in 44 states plus the District of Columbia. Owned by its policyholders rather than external shareholders, the company specializes in supplemental insurance products that fill coverage gaps left by major medical insurance and Medicare. Its core product portfolio spans accident protection, cancer lump-sum benefit, heart attack and stroke, chronic disease, hospital confinement, nursing home and home health care, life insurance, and Medicare Supplement policies, all paying benefits directly to policyholders for use at their discretion.
The company distributes its products primarily through Platinum Supplemental Insurance, the largest marketer of State Mutual products, which provides access to thousands of licensed agents across rural and small-town America along with the underlying policy administration and customer-tracking software. Supporting operations include a Florida-based administrative center handling underwriting, issuance, policyholder service, and claims payment, plus a Winston-Salem, NC mail-in claims office for life insurance. The company maintains 11-50 employees at its Rome headquarters and is governed by an experienced board with members drawn from insurance, legal, and investment backgrounds.
State Mutual generates revenue through recurring premium streams across supplemental health, life, and Medicare Supplement policies, with no publicly disclosed revenue figures. The firm is a member of LIMRA, LOMA, and ACLI and holds Standard Analytics recognition for financial stability and surplus-to-asset ratios. Leadership continuity is provided by the Yancey family, with Delos H. Yancey III serving as Chairman and CEO and D. Harley Yancey IV serving as President, General Counsel, and Corporate Secretary since 2016.
State Mutual Insurance firmographics
Firmographics- Name
- State Mutual Insurance
- Legal name
- State Mutual Insurance Company
- Website
- https://statemutualinsurance.com
- Company type
- Private
- Founded year
- 1936
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- State Mutual Insurance is a 1936-founded mutual insurer in Rome, Georgia, offering supplemental health, life, and Medicare Supplement policies to seniors in rural and small-town America across 44 states plus DC, distributed mainly through Platinum Supplemental Insurance agents.
- Ownership category
- akta.pro rank
State Mutual Insurance industry classification
Industry- Product category
- Supplemental Health Insurance
- NAICS
- Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114), Direct Life Insurance Carriers (524113)
- SIC
- Accident & Health Insurance (6321), Life Insurance (6311)
- akta.pro primary industry
- Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD)
- akta.pro secondary industry
- Whole Life Insurance (FSAIABAA)
Keywords
Where State Mutual Insurance is headquartered
LocationHeadquarters
- HQ city
- Rome
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
State Mutual Insurance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Supplemental Health Insurance Premiums: Recurring premium revenue from supplemental insurance policies covering accident protection, cancer, heart attack and stroke, chronic disease, and hospital confinement. Policies are designed to fill gaps in standard medical insurance plans.
- Life Insurance Premiums: Revenue from life insurance policies, including term life and universal life products, sold primarily to seniors in rural communities.
- Medicare Supplement Insurance: Supplemental Medicare policies designed for older Americans, with over 100,000 Medicare Supplement policyholders mentioned historically.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
State Mutual Insurance product offering
Product offeringCore offering
State Mutual Insurance sells a portfolio of supplemental insurance policies that pay benefits directly to policyholders to cover expenses not reimbursed by standard medical insurance or Medicare. The portfolio includes Accident Protection, Cancer Lump Sum Benefit, Heart Attack and Stroke, Chronic Disease, Hospital Confinement, Nursing Home and Home Health Care, Life Insurance, and Medicare Supplement Insurance. These products are designed for seniors in rural and small-town communities across 44 states plus Washington, DC, and are distributed primarily through Platinum Supplemental Insurance's nationwide agent network.
Product overview
State Mutual Insurance offers a portfolio of supplemental insurance products designed to fill gaps in standard medical insurance plans. The product portfolio consists of specialized policies including Accident Protection (benefit insurance), Cancer Lump Sum Benefit, Heart Attack and Stroke, Chronic Disease, Hospital Confinement, Nursing Home and Home Health Care, Life Insurance, and Medicare Supplement Insurance. These products are distributed through the company's own operations and their marketing partner Platinum Supplemental Insurance, primarily targeting seniors in rural and small-town communities across 44 states and the District of Columbia.
Differentiator
Problem solved
Functional benefit
Products and services
- Accident Protection Benefit insurance policy designed to offset out-of-pocket expenses when an accident occurs, covering deductibles, copays, childcare expenses, and lost wages not covered by major medical insurance. Targeted at seniors in rural communities.
- Cancer Lump Sum Benefit Lump sum benefit policy designed to help cover significant out-of-pocket expenses associated with cancer treatment including coinsurance, deductibles, lost wages, childcare costs, and increased transportation expenses. Targeted at seniors.
- Heart Attack and Stroke Policy providing a safety net for additional unplanned expenses related to cardiovascular illness, paying benefits directly to policyholders if covered individuals experience a heart attack or stroke. Targeted at seniors in rural communities.
- Chronic Disease Protection policy guarding against unforeseen costs related to chronic illness that may not be covered by primary insurance, covering expenses for primary physicians, specialists, and medications. Targeted at seniors.
- Hospital Confinement Supplemental protection policy that pays a lump sum to ease the burden of uncovered, surprise costs related to hospital stays, including transportation, meals, lodging, childcare, and lost wages. Targeted at seniors.
- Nursing Home and Home Health Care Policy providing an affordable alternative to long-term care insurance, paying in addition to Medicare or major medical insurance for up to a year when policyholders cannot perform at least two of six activities of standard daily living. Targeted at seniors.
- Life Insurance Life insurance products developed for older Americans, including term life and universal life products, sold primarily to seniors in rural communities. Available with the company's life insurance claim process.
- Medicare Supplement Insurance Medicare Supplement products designed to cover gaps in healthcare coverage for seniors, with the company having over 100,000 Medicare Supplement policyholders. Operates with policy administration, underwriting and issuance, policyholder service, and claims payment handled at the Florida operational center.
Quantifiable outcome
- Over 100,000 Medicare Supplement policyholders served
- +2 more outcomes
Companies that use State Mutual Insurance
Customer profileNamed customers10 records
Segments2 records
Ideal customer profiles2 records
State Mutual Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
State Mutual Insurance partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Platinum Supplemental InsurancecorePlatinum Supplemental Insurance is the largest marketer of State Mutual products, sharing the same values of integrity, passion and customer service with deep roots in the rural marketplace. Platinum provides the highest level of technical support with advanced software that tracks and updates the needs of the rural and small-town customer base. Platinum carries an A+ accredited business rating with the Better Business Bureau. State Mutual carefully selects Platinum as a reputable, highly rated partner to support and expand their supplemental protection products offerings.
Scale indicators5 records
Recent moves8 records
Expansion highlights4 records
State Mutual Insurance competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
State Mutual Insurance social profiles
Digital presenceState Mutual Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
State Mutual Insurance leadership team
Management profileNumber of profiles
Profiles9 records
State Mutual Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
State 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 State Mutual Insurance
What does State Mutual Insurance do?
State Mutual Insurance sells a portfolio of supplemental insurance policies that pay benefits directly to policyholders to cover expenses not reimbursed by standard medical insurance or Medicare. The portfolio includes Accident Protection, Cancer Lump Sum Benefit, Heart Attack and Stroke, Chronic Disease, Hospital Confinement, Nursing Home and Home Health Care, Life Insurance, and Medicare Supplement Insurance. These products are designed for seniors in rural and small-town communities across 44 states plus Washington, DC, and are distributed primarily through Platinum Supplemental Insurance's nationwide agent network.
Is State Mutual Insurance a public or private company?
State Mutual Insurance is a private company. It is classified as management employee owned and is currently operating.
When was State Mutual Insurance founded?
State Mutual Insurance was founded in 1936. It employs 11 to 50 people.
Where is State Mutual Insurance based?
State Mutual Insurance is headquartered in Rome, United States, in the North America region.
How does State Mutual Insurance make money?
Three revenue lines are on record. Supplemental Health Insurance Premiums are the primary driver. The others are life Insurance Premiums and medicare Supplement Insurance.
Does State Mutual Insurance have an API?
No public API is recorded for State Mutual Insurance.
What industry is State Mutual Insurance in?
State Mutual Insurance's product category is Supplemental Health Insurance. Its primary akta.pro industry code is FSAIAEAD, Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident), with a secondary code of FSAIABAA, Whole Life Insurance. Its NAICS code is 52411 and its SIC code is 6321.