Union Mutual Making Plans to Expand into Neighboring States- Ron Hays Talks with CEO Monica CollisonSat, 21 May 2022 09:20:20 CDT
Ron Hays, Senior Farm and Ranch Broadcaster, visited with the president and CEO of Union Mutual Insurance Company, Monica Collison. Collison talks about programs offered through Union Mutual and the company's plan to expand its business beyond Oklahoma's borders.
"What we are planning to do and hoping to do is to expand our borders, if you will, and introduce our legacy as well as our Town and Country product, first into Arkansas," Collison said.
Collison said the company is hoping to make this expansion somewhere during the first quarter of 2023, if not sooner. Once they are off the ground, Collison said they will look more into moving into some of Oklahoma's other bordering states.
Union Mutual Insurance Company is a regulated insurance company in the state of Oklahoma. Collison said there will be regulators in each of the states they plan to expand into.
"We have a team of folks that are helping us with all of those things not only here in Oklahoma, but in those other states," Collison said.
In the state of Oklahoma, Union Mutual has recently announced the launching of a mobile home product.
"Our mobile home policy actually provides replacement cost coverage at a really competitive rate for consumers in Oklahoma and it's something that we like to go out and talk with our agents in the field and hear from them as to what they think our consumers, and policyholders, need and want," Collison said.
Collison said they are hoping to have the mobile home policy available as of July 1st.
"Our producers and consumers need to be looking for that, so anyone interested in that can contact any of our Town and Country agencies to find out more about it," Collison said. "We are excited about this for sure. It is going to be a preferred product much like the Town and Country product that we launched last year."
Town and Country, Collison said, has exceeded the company's expectations.
"We launched it late 2020 of last year and we continue to hear back from our agents, and back from our consumers that we continue to exceed our record in terms of what we set, and we are on pace to do that again," Collison said. "As we get out in the field and continue to market the products, we just hear great feedback as more people hear about it, and they continue to not only love the product itself and the features that the product has, but also the service that our company is able to provide."
A fairly recent product launched by Union Mutual Insurance is the Poultry House Product, which is popular in the eastern part of Oklahoma.
"That continues to be a popular product," Collison said. "It is one of our regional products and one of our brokerage products. So, we were excited to bring that onboard again last year."
Collison said the company continues to expand the Poultry House Product side of the business. It is an area where they get feedback from the field, consumers, and agents as to what things consumers are needing and what they need to be more competitive in the market.
"We have over 300 agents," Collison said. "They are independent agents and they are scattered across the state of Oklahoma and all 77 counties across the state, so if you are looking to find our products, we are easy to find and we are regionally located."
Union Mutual Insurance Company is primarily focused on the rural part of the state, Collison said, so that is where they like to center their focus.
"We are housed in all 77 counties," Collison said. "We are proud of that fact and we have been in the business for over 80 years and we think we have a really great team of agents. What sets Union Mutual Insurance apart from other insurance providers, Collison said, is they are unique in the marketplace and committed to providing excellent coverage at an affordable rate to rural Oklahoma.
"We know that space and we have known that space for over 80 years," Collison said. "In the very near future, we are going to be expanding that into neighboring states."
What is also exciting and unique, Collison said, is that they have an executive team that has over 125 years combined in the rural space, and in the mutual space.
"All of that team actually is still actively involved in production agriculture in the state of Oklahoma," Collison said. "When you talk to folks here, you are talking to a team of people who not only know, work, and have worked and spent their careers working in the insurance industry, but also are actively engaged in rural Oklahoma."
To learn more about Union Mutual, click here.
Click the LISTEN BAR below to hear more from Monica Collison on what makes Union Mutual Insurance Company unique.
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