De Smet Farm Mutual
De Smet Farm Mutual Insurance Company of South Dakota is a private, policyholder-owned mutual P&C insurer founded in 1916 that underwrites farm/ranch, homeowners, auto, hobby acreage, renters, and excess liability coverage exclusively for South Dakota residents through a network of 170+ independent agents.
- Company typePrivate
- Founded1916
- HeadquartersRapid City, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What De Smet Farm Mutual does
De Smet Farm Mutual Insurance Company of South Dakota is a private, policyholder-owned mutual property and casualty insurer founded in 1916 in De Smet, South Dakota. The company was established by a group of South Dakota farmers when larger insurance companies declined to underwrite rural prairie risks, and it has retained a focused rural-South Dakota mandate for over a century. It underwrites a portfolio of six core coverages — farm & ranch, homeowners, auto (via a wholly-owned subsidiary, De Smet Insurance Company of South Dakota, aka DSIC), hobby acreage, renters, and excess liability — plus an annual scholarship program for policyholders' children. The auto line is intentionally closed to non-members, creating a deliberate land-and-expand model within the existing farm/ranch and homeowner/renter base.
The company runs on the AllPoints Policy, Claims, and Financial Administration Suite from Horizon Systems & Services, which powers both the policyholder-facing Customer Portal (for policy view, billing, payments, claims reporting, and document access) and the Agent Portal used by its 170+ independent agents for underwriting, rating, billing, claims, and document management. The firm carries an A.M. Best "A Excellent" rating, is an affiliate of Goodville Mutual (providing reinsurance capacity and operational support), and is governed as a mutual — there are no external shareholders, and policyholders hold membership interests with governance exercised via annual meetings (the next is scheduled for June 30, 2026, alongside proposed bylaw changes).
De Smet Farm Mutual generates revenue through insurance premiums on a recurring billing cadence, with payment accepted via credit/debit card (processing fee up to 3.75%) and E-Check/ACH (flat fee up to $2.00). Pricing is quote-based, not publicly disclosed, and is set through consultation with local agents based on individual risk. The go-to-market is exclusively indirect: there is no direct-to-consumer sales channel — all quotes, binding, and servicing flow through the 170+ independent agents across South Dakota. The company employs 11-50 people, all based at its De Smet headquarters, and does not publicly disclose financial results, leaving revenue to be inferred from headcount and operating scope.
De Smet Farm Mutual firmographics
Firmographics- Name
- De Smet Farm Mutual
- Legal name
- De Smet Farm Mutual Insurance Company of South Dakota
- Website
- https://desmetfarmmutual.com
- Company type
- Private
- Founded year
- 1916
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- De Smet Farm Mutual Insurance Company of South Dakota is a private, policyholder-owned mutual P&C insurer founded in 1916 that underwrites farm/ranch, homeowners, auto, hobby acreage, renters, and excess liability coverage exclusively for South Dakota residents through a network of 170+ independent agents.
- Ownership category
- akta.pro rank
De Smet Farm Mutual industry classification
Industry- Product category
- Property and Casualty Insurance
- akta.pro primary industry
- Crop & Farm Property Insurance (FSAJACAK)
Keywords
Where De Smet Farm Mutual is headquartered
LocationHeadquarters
- HQ city
- Rapid City
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
De Smet Farm Mutual business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Insurance Premiums: De Smet Farm Mutual generates revenue through insurance premiums collected from policyholders. The company offers multiple insurance products including Farm & Ranch, Homeowners, Auto, Hobby Acreage, Renters, and Excess Liability insurance. Premiums are collected through billing cycles with payment options including credit/debit cards (with processing fees up to 3.75%) and E-Check/ACH (flat fee up to $2.00).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Quote-based insurance pricing |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
De Smet Farm Mutual product offering
Product offeringCore offering
De Smet Farm Mutual is a mutual property and casualty insurance company that underwrites and services insurance policies for individuals, families, and farms in South Dakota. Its portfolio includes farm & ranch, homeowners, auto, hobby acreage, renters, and excess liability coverage, with auto policies underwritten through a wholly-owned subsidiary, De Smet Insurance Company of South Dakota (DSIC). Products are sold exclusively through a network of more than 170 independent insurance agents across South Dakota.
Product overview
De Smet Farm Mutual is a property and casualty insurance company offering a portfolio of insurance products for individuals and families in South Dakota. The core product suite includes Farm & Ranch Insurance, Homeowners Insurance, Auto Insurance (offered through subsidiary De Smet Insurance Company), Hobby Acreage Insurance, Renters Insurance, and Excess Liability Insurance. Self-service capabilities are provided through a Customer Portal for policyholders to manage policies, billing, payments, and claims, and an Agent Portal for insurance agents to handle policy administration, underwriting, and claims processing. The company also maintains a community-focused Scholarship Program. The company was founded in 1916 and serves policyholders through over 170 agents across South Dakota.
Differentiator
Problem solved
Functional benefit
Products and services
- Farm & Ranch Insurance Comprehensive property, liability, and machinery insurance coverage for full-scale farming and ranching operations in South Dakota, including farm/ranch liability, farm buildings, and machinery. Targeted at farm and ranch owners across the state.
- Homeowners Insurance
- Auto Insurance
- Hobby Acreage Insurance
- Renters Insurance
- Excess Liability Insurance
Companies that use De Smet Farm Mutual
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
De Smet Farm Mutual technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
De Smet Farm Mutual partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Horizon Systems & Services Inc.coreHorizon Systems & Services provides the AllPoints Policy, Claims, and Financial Administration Suite used by De Smet Farm Mutual for policy administration, billing, claims management, and document management.
- Goodville MutualcoreDe Smet Farm Mutual is an affiliate of Goodville Mutual. The company is listed alongside Lancaster Mutual on the Goodville mutual website annual report. This affiliation provides reinsurance capacity and operational support.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
De Smet Farm Mutual competitors and assessment
Company assessmentDirect peers
- Farm Bureau Financial Group: Farm Bureau Financial Group writes farm/ranch, home, auto, and life insurance across the Midwest through a captive/exclusive agent model. It is one of the largest farm-property insurers regionally and competes for the same rural household as De Smet Farm Mutual.
- Country Financial: Country Financial (Country Mutual) is a Midwest-based insurer serving farm, home, auto, and life through local agents. Strong presence in agricultural states and directly comparable in product mix and rural customer focus.
- Lancaster Mutual: Lancaster Mutual is a sister affiliate of De Smet Farm Mutual under the Goodville Mutual umbrella. It is a regional mutual insurer in Wisconsin serving farm, home, and auto lines through independent agents — an almost identical business model, customer base, and product mix.
- Shelter Insurance: Shelter Insurance is a Missouri-based mutual insurer offering auto, home, farm, and life coverage through exclusive agents in the central U.S. Directly comparable regional mutual with a multi-line rural strategy and agent-led distribution.
- Grinnell Mutual: Grinnell Mutual is one of the largest primary farm mutual insurers in the U.S., headquartered in Iowa, writing farm, home, and auto coverage through an independent agent network. Directly comparable in mutual structure, agricultural specialization, and agent-led distribution.
- Goodville Mutual: Goodville Mutual is De Smet Farm Mutual's direct affiliate (De Smet is listed alongside Lancaster Mutual on Goodville's site). It is a Pennsylvania-based farm mutual insurer with a similar mission, mutual structure, and rural/agricultural customer focus, making it the closest structural and operational peer.
Broad incumbents
- Auto-Owners Insurance: Auto-Owners is a regional multi-line insurer serving the Midwest and South through independent agents, with home, auto, and farm coverages. Comparable distribution model and product overlap but materially larger in scale and geographic scope.
- Nationwide (Agribusiness): Nationwide is a large national P&C insurer with a dedicated Agribusiness unit writing farm and ranch coverage. Operates as a broad incumbent with overlap in agricultural lines but at materially greater scale and geographic breadth than De Smet.
- State Farm: State Farm is the largest U.S. personal lines insurer with deep agent-led distribution in rural states and growing investment in farm/ranch products. A broad incumbent competing for the same South Dakota household via its local agent force.
Emerging players
- Rain and Hail Insurance: Rain and Hail (a Chubb company) specializes in crop and multi-peril crop insurance serving U.S. farmers. Partial overlap with De Smet's farm-property book, but focused on crop MPCI rather than farm property and casualty — useful comparable for the agricultural risk niche.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
De Smet Farm Mutual social profiles
Digital presenceDe Smet Farm Mutual financial estimates
Financial estimateRevenue estimate
Valuation estimate
De Smet Farm Mutual leadership team
Management profileNumber of profiles
Profiles1 record
De Smet Farm Mutual subsidiaries and ownership
Company hierarchySubsidiaries1 record
De Smet Farm Mutual funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
De Smet Farm Mutual 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 De Smet Farm Mutual
What does De Smet Farm Mutual do?
De Smet Farm Mutual is a mutual property and casualty insurance company that underwrites and services insurance policies for individuals, families, and farms in South Dakota. Its portfolio includes farm & ranch, homeowners, auto, hobby acreage, renters, and excess liability coverage, with auto policies underwritten through a wholly-owned subsidiary, De Smet Insurance Company of South Dakota (DSIC). Products are sold exclusively through a network of more than 170 independent insurance agents across South Dakota.
Is De Smet Farm Mutual a public or private company?
De Smet Farm Mutual is a private company. It is classified as unknown and is currently operating.
When was De Smet Farm Mutual founded?
De Smet Farm Mutual was founded in 1916. It employs 1 to 10 people.
Where is De Smet Farm Mutual based?
De Smet Farm Mutual is headquartered in Rapid City, United States, in the North America region.
How does De Smet Farm Mutual make money?
One revenue line is on record: insurance Premiums.
Who are De Smet Farm Mutual's main competitors?
Direct peers on record are Farm Bureau Financial Group, Country Financial, Lancaster Mutual, Shelter Insurance, Grinnell Mutual and Goodville Mutual. Broad incumbents are Auto-Owners Insurance, Nationwide (Agribusiness) and State Farm. Rain and Hail Insurance is listed as an emerging player.
Does De Smet Farm Mutual have an API?
No public API is recorded for De Smet Farm Mutual.
What industry is De Smet Farm Mutual in?
De Smet Farm Mutual's product category is Property and Casualty Insurance. Its primary akta.pro industry code is FSAJACAK, Crop & Farm Property Insurance.