State Farm is a large group of insurance and financial services companies across the United States with corporate headquarters in Bloomington, Illinois. The group's main business is Mutual Car Insurance Company Agricultural Company, a joint insurance company that also has other State Farming companies.
Video State Farm
Histori
State Farm was founded in 1922 by retired farmer George J. Mecherle as a joint auto insurance company owned by his policyholder. The company specializes in car insurance for farmers and then extends services to other types of insurance, such as homeowners and life insurance, and then to banking and financial services.
The State Farm jingle ("Like a good neighbor, State Farm was there") was written by American songwriter Barry Manilow in 1971. A cover was released by Weezer in 2011. In the 1960s, the first commercial jingle of Farm State originally created for Jack Benny's Program.
By December 2017, State Farm has 70,000 employees and 19,000 agents. Figures February 2014 shows the group serving 80 million policies in the United States and Canada, of which more than 44 million are for cars, 27 million are for fires, 7,000,000 for life, and over 2 million bank accounts.
Michael Tipsord is Chairman and CEO of State Farm Mutual Automobile Insurance Company, and president and chief executive officer of State Farm Fire and Casualty Company, State Agricultural Life Insurance Company, and other State Farm affiliates.
In 2014, the company sold its operations in Canada to Desjardins Group, which continues to use the name Farm Country. The Canadian Policy was transferred to Desjardins Group on January 1, 2015. State Farm brands continued to be used for agents and marketing until 2018. By 2018, State Farm Canada was renamed to Desjardins Insurance.
Maps State Farm
Logo
State Farm linked to the red tri-oval logo was created in the mid-1940s and later renewed in 1953. For nearly 60 years, this design is essential to its brand image.
On December 23, 2011, State Farm decided to transform the interlinked tri-oval logo into a contemporary logo to showcase its core automotive, fire, and corporate life offerings. The new logo was introduced January 1, 2012, in celebration of the company's 90th anniversary. It consists of a simple three-oval design adjacent to the State Farm wordmark. According to Pam El, Vice President of Marketing at State Farm, image changes are needed to use a bolder presence that can compete in the digital world today.
Company
Mutual State Automobile Insurance Company is the parent company of several wholly owned subsidiaries of State Farm:
- Agricultural Firms and State Fire Victims
- State Agricultural Life Insurance Company
- Country Farm Life and Accident Insurance Company (NY/CT/WI)
- State Farm County Mutual Insurance Company from Texas (TX auto)
- State Farm Mutual Insurance Company from Texas (TX preferred auto)
- State Farm Indemnity Company/State Farm Insurance Insurance Company (automatic NJ)
- General State Agricultural Insurance Company (CA House)
- Florida Farm Farming Company (FL house)
- Dover Bay Special Insurance Company
- State Farm Lloyds (home/commercial TX)
- State Farm Bank, F.S.B.
- State Farm Investment Management Corp. (SFIMC)
- State Farm VP Management Corp. (SFVPMC)
- State Agricultural Services International, Inc.
- State Agricultural Association Investment Fund
- Trust of State Agricultural Funds
- State Farm Investor Services (Canada) Co.
- State Farm Finance Corporation of Canada
- SF Insurance Placement Corporation Canada
- Insurance Placement Services, Inc.
- International Farm Country Insurance Company Ltd.
- Plaza One Realty Co..
- State Agricultural Insurance Company
- Country Farm Variable Product Trust
- Amberjack Ltd. (Real Estate)
Ads
This commercial structure comes from the "Get to a Better State" campaign from State Farm that aired in June 2011, with an increase in budget. As a result, the awareness and likes of the State Farm brand have increased sharply. The campaign focuses on making humor from the usual unfavorable problems faced. These ads then clarify the situation by showing how easy it is to contact the agent and fix the problems that have occurred. Each of these ads follows a similar structure. A group of one to three people find themselves in an unfortunate situation. Someone in the group would call their State Farm agent by singing a jingle "like a good neighbor, State Farm is there". A State Agriculture agent will then appear and help the group come out with their problems. There are some ads that deviate from this structure, but still follow the same final pattern.
State Farm also has ads that start with the word "Country..." and other words that describe certain ads. One famous ad shows a man waking up at 3:00 am on the phone with a State Farm representative. This particular ad started with the State of Unrest. The man's wife saw him talking on the phone in a secret way. He was suspicious and asked who was on the phone, whose husband said: "This is Jake from State Farm". The man's wife then picked up the phone and asked, "What are you wearing, 'Jake from State Farm?'" The agent responded in a rigid way, "Uh, khakis". Still believing she was female, the wife said, "She sounds horrible", where the husband replies, "Well he's a man, so..." In May 2015, a variation of State of Unrest aired, starring The Coneheads of Saturday Night Live , with Dan Aykroyd and Jane Curtin repeating their respective roles as Beldar and Prymaat. It started an advertising campaign with Laraine Newman later added as Connie.
By the end of 2014, State Farm released a critically acclaimed ad showing a man (played by Justin Bartha) who said he would "never" do anything (like getting married, having kids, moving to the suburbs, and buying minivans), just to do all that. At the end of the ad, she admits that she "never let go." This ad is based on the saying "never say never" and how people say they will "never" do something, just to do it.
The Hoopers
The Hoopers is a family-focused Family Farm series, including NBA player Chris Paul playing as a father, DeAndre Jordan playing mom, Kevin Love playing his son, Kevin Garnett playing with his grandfather and Damian Lillard playing his baby. In addition, a State Farm agent plays the role of a neighbor who helps in organizing ads.
The commercial series currently has four ads built, including " Robbed ", " Dropping Dimes ", " No Good Clipper " and " The Hawks and The Hornets ". CEO
Financial services
State Farm has evolved into the arena of financial services, such as banking and mutual funds.
The bank opened in May 1999 and is operated by State Farm Financial Services, FSB, a subsidiary of State Farm Mutual Automobile Insurance Co. This is separate from its insurance products. State Farm Bank does not have a branch office. Regular banking services, which include check and savings accounts, certificates of deposit, and money market accounts, are available to consumers across the country via the Internet or by telephone, and through agents. Home mortgages are available nationwide by phone or through an agent.
Back in 1950, State Farm held a contest among agents, to get ideas for expanding State Farm business. Robert H. Kent, an agent in Chicago, came up with the idea of ​​giving auto loans to existing policyholders. Robert H. Kent befriended the president of a local bank in LaSalle NW, and both work together to become automotive financing pilots. State Farm really liked the idea so it rolled over to all the agents. Robert H. Kent received royalty in this program for 20 years. This is an important event, as it creates the first marketing partnership between insurance companies and banks. Florida
threatens withdrawal
In early 2009, a subsidiary of State Farm Florida, the country's largest insurance company, threatened to withdraw from writing property insurance business in Florida after state regulators refused to approve a property tariff increase of 47%. State Farm said that, in Florida, has paid $ 1.21 million USD in claims for every dollar in premiums since 2000. Several other home insurance companies have also withdrawn from Florida; many homeowners now use the Citizens Property Insurance Corporation run by the state government. State Farm has since decided to remain in Florida, albeit with a reduced number of property policies.
In 2010, State Farm and Renaissance jointly formed DaVinci Reinsurance Ltd. which insured more than 3.5 million homes in 2010.
Criticism
The 2007 investigation by CNN reported that major auto insurance companies, including State Farm and Allstate Insurance, are increasingly battling claims from those accusing the injury. Some injured people think this is an unfair practice. State Farm and Allstate have denied these allegations. This was followed on the heels of criminal investigations by the states of Louisiana and Mississippi, stating that State Farm has wrongly denied claims stemming from Hurricane Katrina. Plaintiff's lawyer Richard F "Dickie" Scruggs later pleaded guilty in March for his role in attempting to pay Judge Henry Lackey of the Mississippi bribe of $ 50,000 USD for a favorable verdict in a related case involving a $ 26.5 million USD settlement after Hurricane Katrina.
Competition
The leading auto insurance competitor of State Farm, based on written premiums, includes Farmers Insurance, Allstate, Progressive, GEICO, Zurich Financial Services, Reliance Partners, Nationwide, USAA, Liberty Mutual, American International Group and American Family Insurance Group.
Sponsor
- State Farm Center, multi-purpose arena and home of the University of Illinois on men's and women's basketball teams in Urbana-Champaign.
- State Farm Arena, a multi-purpose complex featuring concerts and sporting events, located in Hidalgo, Texas.
- State Farm Classic, a golf tournament for professional female golfers who are part of the LPGA Tour.
- State Farm Hall, a classroom building at Illinois Wesleyan University in Bloomington, Illinois.
- The State Business Farm Center, College of Business Building at Illinois State University in Normal, Illinois, since 2010.
- State Farm Holiday Classic, an annual high school holiday basketball tournament held in Bloomington-Normal, Illinois every December.
- State Farm Lone Star Showdown, moniker for all university athletics competitions between Texas A & amp; M University and The University of Texas at Austin.
- The State Agricultural Research and Development Center, an expansion of the State Agricultural Insurance research located at the University of Illinois at Urbana-Champaign.
- State Farm Sales Lab, a clinical sales training center at the University of Central Missouri, where the National Agricultural Marketing and Sales Competition is held.
- State Farm Computer Lab, networking and computer software development room at Mansfield University of Pennsylvania, where State Farm has sponsored the purchase of most equipment.
- State Cup Farming Series, moniker for all intercolleatical athletic competitions between the University of Arizona and Arizona State University.
- The NBA Cares Charity Challenge is awarded by State Farm, a charity program organized by the NBA.
- State Farm All-Star Saturday Night, a skill competition featuring NBA players.
- League of Legends Championship Series, Legendary League League North America
Services
State Farm Safety Patrol - State Farm, in collaboration with several US highway authorities, operates a service called State Farm Safety Patrol that provides free roadside assistance to motorists stranded on participating participating highways. When a driver calls the designated telephone number for the Safety Patrol, they will answer and provide the following services: refueling; radiator refill; refill engine oil. Most Safety Patrol personnel are also CPR and Automated External Defibrillator certified. They work to reduce accident rates, minimize the duration of incident time, help defective drivers and eliminate road debris. The currently participating Turnpikes include, Florida's Turnpike in the State of Florida and Pennsylvania Turnpike at the Commonwealth of Pennsylvania. In Ohio, the State Farm safety patrol boat serves major highways in the Cincinnati, Toledo, Cleveland, Columbus, Dayton, Akron and Canton districts on weekdays.
Awards and Recognition
State Farm is ranked 33rd in 2017, the Fortune 500, which lists American companies based on revenue.
See also
- List of US insurance companies
- State Farm Downtown Building
References
External links
- Official website
- State Farm Bank
- The State Agricultural Youth Advisory Council
- State Farm Canada (operated by Desjardins Group)
- State Agricultural Research & amp; Development Center at the University of Illinois
Source of the article : Wikipedia
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