Forward Mutual Insurance Company

What Forward Mutual Insurance Company does

Forward Mutual Insurance Company is a Wisconsin-domiciled mutual property and casualty insurance carrier serving home and farm owners throughout Wisconsin. The company traces its origins to two town mutuals founded in 1872 (Watertown Mutual) and 1875 (Ixonia Mutual), which merged effective January 1, 2010 to form the current entity. Headquartered in Ixonia, Wisconsin with 8 employees and operating under a mutual ownership structure entirely held by its policyholders, Forward Mutual writes only home, farm, and dwelling P&C coverage and holds an A' (A Prime), Unsurpassed Financial Stability Rating from Demotech, Inc. As of January 1, 2020, the company converted from a town mutual to a non-assessable domestic mutual insurance company (Chapter 611), expanding its operating territory from southeastern Wisconsin to the entire state.

The product portfolio is anchored by the Home-Guard® homeowners line and the Farm-Mate®/Farm-Guard® farm insurance lines, with additional policies for renters, condominium unit-owners, mobile homes, and seasonal dwellings. Add-on modules include Equipment Breakdown Coverage for both residential and farm applications, Service Line Coverage, Inland Marine for valuables, Personal Cyber Protection and Farm Cyber Protection (delivered through CyberScout, a TransUnion brand), and Personal Risk Protection / Farm Risk Protection digital legal document services. Underlying technology is limited to digital policy management and online account access systems; auto coverage is provided through a partnership with Grinnell Compass Inc, while reinsurance capacity is supplied by Grinnell Mutual Reinsurance Company.

Revenue is generated entirely through recurring property and casualty insurance premiums, with pricing set on a quote basis per individual property and risk profile. Distribution is exclusively through a network of approximately 19 independent insurance agencies across Wisconsin, with community engagement (county fair sponsorships, community radio, local events) and social media serving as top-of-funnel awareness channels. The company has no parent, no subsidiaries, no public listing, and no external shareholders, with profits accruing to policyholder-members under the founding 'neighbor helping neighbor' philosophy.

Name

Forward Mutual Insurance Company

Legal name

Forward Mutual Insurance Company

Website

https://forwardmutual.com

Company type

Private

Founded year

1875

Operating status

Operating

Headcount range

1–10 employees

Short description

Forward Mutual Insurance Company is a Wisconsin-based mutual property and casualty insurer founded in 1875, serving home and farm owners statewide through ~19 independent agencies. It offers Home-Guard® and Farm-Mate®/Farm-Guard® core policies plus cyber, equipment breakdown, and legal-assistance add-ons.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Product Liability & Recall (FSAJAGAG)

akta.pro secondary industry

Directors & Officers (D&O) Liability (FSAJADAF)

Keywords

• Property casualty insurance
• Homeowners insurance
• Farm insurance
• Mutual insurance
• Independent agency distribution

Headquarters

HQ city

Ixonia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Property and Casualty Insurance Premiums: Forward Mutual generates revenue through insurance premiums from homeowners, farm owners, dwelling, and equipment breakdown coverage policies. The company is a mutual insurance company owned entirely by its policyholders.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Forward Mutual Insurance Company is a Wisconsin-based mutual property and casualty insurer that provides homeowners, farm owners, and dwelling property coverage to policyholders throughout Wisconsin. The company underwrites and distributes its own branded insurance products through a network of 19 independent insurance agencies and reinvests premiums back into the company for the benefit of its policyholders.

Product overview

Forward Mutual Insurance Company offers a comprehensive portfolio of property and casualty insurance products for home and farm owners throughout Wisconsin. The core product lines include Home-Guard® homeowners insurance (covering permanent dwellings, condominiums, mobile homes, and renters) and Farm-Mate®/Farm-Guard® farm insurance (covering property, buildings, and liability). These are complemented by a suite of add-on modules including Equipment Breakdown Coverage for both residential and farm applications, Personal Cyber Protection and Farm Cyber Protection through CyberScout (a TransUnion brand), Service Line Coverage, Inland Marine coverage for valuables, Personal Risk Protection for legal documents (wills, powers of attorney, healthcare directives), and Farm Risk Protection for farm contracts and documents. The company also offers Dwelling Property coverage for seasonal homes and rental properties through its Owners Landlords & Tenants® policy. All products are distributed through a network of independent insurance agents.

Differentiator

Problem solved

Functional benefit

Brands

• Farm-Mate®: Farm property insurance policy that is flexible to match needs and provide coverage for family farm operations, small hobby farmers, or large corporate farming operations.
• Farm-Guard®
• Home-Guard®

Products and services

• Home-Guard® Homeowners Insurance Homeowners property and casualty insurance product designed for Wisconsin homeowners seeking coverage for their primary residences. Distributed through the company's 19 independent insurance agencies.
• Farm-Mate® Farm Insurance Farm property and casualty insurance product tailored for Wisconsin farm owners, providing coverage for farm dwellings, structures, equipment, and operations. Distributed through the company's 19 independent insurance agencies.
• Farm-Guard® Farm Insurance Farm property insurance product covering farm-related dwellings and structures for Wisconsin farm owners.
• Dwelling Property Coverage Property coverage for non-owner-occupied dwellings and secondary residences, available to Wisconsin property owners through Forward Mutual's independent agency network.

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Grinnell Mutual Reinsurance CompanycoreStrategic or Co-development PartnerForward Mutual's reinsurance company partner. Together they provide resources including safety tips, loss control guidance, and educational content. Grinnell Mutual provides reinsurance coverage and shares resources for farm, home, and auto safety information. This is a long-standing partnership providing essential reinsurance capacity and co-developed resources.
• Grinnell Compass InccoreChannel Partner/ Reseller/ DistributorAuto insurance partner. Forward Mutual does not write auto insurance but partners with Grinnell Compass Inc to offer comprehensive auto coverages including comprehensive, collision, and liability. Policyholders may be eligible for auto/home discounts when bundling with Forward Mutual.
• Cyberscout (TransUnion brand)coreTechnology or IntegrationCyber protection services partner providing personal and farm cyber protection coverage. Access to state-of-the-art cyber coverage and services including protection for online fraud, data breaches, cyber extortion, cyberbullying, and other cyber attacks. Includes protection and advisory services such as credit report monitoring and educational videos.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Wilson Mutual Insurance Company: Wisconsin-based mutual property and casualty insurer with similar community-focused mutual structure and home/farm insurance offerings throughout Wisconsin.
• SECURA Insurance: Wisconsin-headquartered mutual insurance company writing P&C coverage including farm, home, and auto. Comparable regional focus, mutual structure, and product breadth serving Wisconsin residents.
• Society Insurance: Wisconsin-based mutual insurance company writing P&C policies for businesses and individuals including farm and home. Comparable regional mutual with similar target segments and mutual ownership.
• Rural Mutual Insurance Company: Wisconsin-based mutual insurance company specializing in farm and rural property insurance throughout the state. Directly comparable as a Wisconsin-focused mutual serving farm and home owners with similar product lines.
• Heritage Mutual Insurance Company: Wisconsin-based property and casualty mutual insurance carrier serving home and farm owners. Comparable mutual structure, regional focus, and product offering for Wisconsin policyholders.

Broad incumbents

• Auto-Owners Insurance: Mutual insurance company with significant P&C operations across multiple states. Comparable mutual ownership structure and P&C focus, but operates at much larger scale and broader geography.
• Cincinnati Financial: Mutual insurance holding company with P&C operations through The Cincinnati Insurance Companies. Comparable mutual ownership structure and P&C focus, but operates at substantially larger scale with national reach.
• Acuity Insurance: Wisconsin-based mutual insurance company with large multi-state P&C operations. Comparable origin and mutual structure, but operates at significantly larger scale with broader product portfolio.
• West Bend Mutual Insurance Company: Wisconsin-based mutual insurance company with broader multi-state P&C operations. Comparable mutual structure and regional P&C focus, but with significantly larger scale and product breadth.
• Sentry Insurance: Wisconsin-headquartered mutual insurance group with national footprint across multiple lines. Comparable origin as a Wisconsin mutual but operates at substantially larger scale and broader geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Forward_Mutual
• Facebookfacebook.com/forwardmutual
• LinkedInlinkedin.com/company/forward-mutual-insurance-company

Revenue estimate

Valuation estimate

Number of profiles

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 Forward Mutual Insurance Company