Oakwood Mutual Insurance

What Oakwood Mutual Insurance does

Oakwood Mutual Insurance Company is an Indiana-domiciled mutual property and casualty insurer incorporated in 2019 through the merger of German Mutual Insurance Company of Indiana (founded 1868) and Mutual Insurance Association of Southern Indiana (founded 1899). The company writes six core product lines — homeowner, farm, tenant, rental/seasonal, auto, and liability coverage — serving rural Indiana residents, farm owners, and individuals with non-standard properties that larger insurers often decline or overprice due to distance from fire hydrants or emergency services.

The company's operating stack is built around traditional mutual insurance workflows: policy issuance and underwriting are handled in-house, while customer-facing digital touchpoints are outsourced to third-party platforms. Specifically, the mobile-friendly insured portal and Express Payment option are delivered via IMTApps (imtapps.com) with payment processing through Paytrace, and the public agent locator is powered by StoreLocator Widgets. The auto and liability product lines are not written directly by Oakwood Mutual; they are issued through Grinnell Mutual Reinsurance Company, which also serves as the company's reinsurer and carries an A.M. Best A (Excellent) rating. The company is regulated by the Indiana Department of Insurance as a state-chartered insurer.

Distribution is exclusively through an independent agent channel spanning over 20 local agencies across Indiana, with three owned offices in Evansville (headquarters), Decatur, and Columbia City. As a policyholder-owned mutual, Oakwood Mutual has no external shareholders; profits are reinvested into coverage and reserves, and the board of directors (chaired by Jeffery L. Kiess) is elected by policyholders, with Jason M. Mueller serving as President. Headcount is reported at 11–50 employees, and no revenue, premium volume, or policy count figures are publicly disclosed.

Name

Oakwood Mutual Insurance

Legal name

Oakwood Mutual Insurance Company

Website

https://oakwoodmutual.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Oakwood Mutual Insurance is an Indiana-domiciled mutual property and casualty insurer serving rural Indiana homeowners, farmers, and renters through a network of independent local agents, offering homeowner, farm, tenant, rental/seasonal, auto, and liability coverage reinsured by Grinnell Mutual.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Insurance Carriers (5241), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Homeowners Insurance (FSAJACAA)

akta.pro secondary industries

Personal Auto Insurance (FSAJAMAA), Condominium (HO-6) Insurance (FSAJACAC)

Keywords

• Property insurance
• Farm insurance
• Mutual insurance
• Liability coverage
• Rural insurance

Headquarters

HQ city

Evansville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Oakwood Mutual generates revenue through insurance premiums collected from policyholders. As a mutual insurance company, premiums are the primary revenue stream used to cover claims, operating expenses, and maintain reserves. The company offers multiple coverage types including home, farm, auto, tenant, rental/seasonal, and liability insurance.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Oakwood Mutual Insurance Company provides property and casualty insurance products to Indiana residents. The company offers six core insurance products: Homeowner Policy, Farm Policy, Tenant (Rental) Policy, Rental/Seasonal Policy, Auto Policy, and Liability Coverage. These products are distributed through a network of independent insurance agents across Indiana and reinsured by Grinnell Mutual Reinsurance Company. The company operates as a mutual insurance company owned by its policyholders.

Product overview

Oakwood Mutual Insurance offers a portfolio of property and casualty insurance products designed for individuals, families, and farmers in Indiana. The product lineup consists of six core offerings: Homeowner Policy, Farm Policy, Tenant (Rental) Policy, Rental/Seasonal Policy, Auto Policy, and Liability Coverage. These products are distributed through independent local agents and are reinsured by Grinnell Mutual Reinsurance Company. The company operates as a mutual insurance company, meaning policyholders are owners and resources are reinvested into coverage and service improvements. The portfolio covers residential properties, rental situations, agricultural operations, and vehicles, with optional endorsements available to tailor coverage to specific risks.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowner Policy A homeowner policy designed to provide coverage for personal property, protecting homes in both urban and rural areas against property loss and damage. Targeted at Indiana homeowners.
• Farm Policy A farm insurance policy covering farming operations including hobby, grain, and livestock-focused farms. Many endorsements are available for comprehensive coverage. Targeted at Indiana farm owners requiring coverage for farming operations, equipment, and agricultural property.
• Tenant (Rental) Policy A tenant policy that covers personal property while renting or subletting a residence. Targeted at individuals renting properties who need coverage for their personal belongings.
• Rental/Seasonal Policy A policy providing coverage for dwellings that are seasonal, rented, or do not meet requirements for a standard homeowner's policy. Targeted at property owners with non-standard or seasonal dwellings.
• Auto Policy Auto insurance policy available through Grinnell Mutual Reinsurance Company, with discounts for Oakwood Mutual policyholders. Farm Auto vehicles are covered under the standard Auto Policy by endorsement.
• Liability Coverage Liability coverage available through Grinnell Mutual Reinsurance Company, tailored to specific needs with optional endorsements for home, farm, tenant, rental, and seasonal risks.

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature2 records

Partnerships

One partnership is on record.

• Grinnell Mutual Reinsurance CompanycoreStrategic or Co-development PartnerGrinnell Mutual Reinsurance Company is Oakwood Mutual's reinsurer, providing reinsurance capacity and supporting the company's ability to offer auto and liability coverage products. Grinnell Mutual carries an 'A' rating with AM Best. The partnership enables Oakwood to offer auto policy discounts and farm auto coverage to policyholders. Located in Grinnell, Iowa.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Erie Insurance: Mutual P&C insurer with exclusive-agent distribution across the Midwest and Mid-Atlantic; comparable in mutual ownership structure and multi-line P&C product set.
• Auto-Owners Insurance: Mid-sized mutual P&C insurer with strong Midwest agent distribution and broadly overlapping home, auto, and farm lines — represents the scale ceiling Oakwood could grow into.
• State Auto Insurance: Regional mutual P&C insurer distributed through independent agents across the Midwest — comparable in channel, customer profile, and personal/farm lines mix.
• Grinnell Mutual Reinsurance Company: Direct reinsurance partner and capacity provider; Grinnell Mutual also writes primary P&C insurance across the Midwest, overlapping materially with Oakwood's homeowners and farm lines.
• Cincinnati Financial: Mutual P&C insurer whose property and umbrella lines, distributed through independent agents in the Midwest, overlap significantly with Oakwood's farm and homeowner offerings.

Regional players

• Westfield Insurance: Ohio-based mutual P&C insurer selling personal and farm lines through independent agents in adjacent Midwest states — comparable product scope and agent channel, with limited Indiana overlap.

Direct peers

• Shelter Insurance: Mutual-style regional P&C carrier serving rural and small-town Midwestern customers with home, auto, and farm coverages via captive agents — closely analogous business model and customer profile.
• Indiana Farm Bureau Insurance: Indiana's largest farm-focused mutual insurer, offering farm, home, auto, and life products through exclusive agents in the same rural Indiana market where Oakwood competes most directly.
• COUNTRY Financial: Mutual-like regional P&C and life insurer covering Illinois, Indiana, and adjacent Midwestern states with farm and home products distributed through local agents — directly comparable in product mix and channel.

Others

• German Mutual Insurance Company of Indiana: Predecessor entity to Oakwood that continues to operate legacy policies; relevant comparability reference for book-of-business composition rather than active competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/oakwoodmutual
• Xx.com/mutualoakwood
• Facebookfacebook.com/oakwoodmutual
• LinkedInlinkedin.com/company/oakwood-mutual-insurance-company

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 Oakwood Mutual Insurance