FARMER S Essay

Submitted By junk2414
Words: 881
Pages: 4

HISTORY
Farmer's insurance, formerly known as, Farmer's Automobile Inter-Insurance Exchange was founded in 1928, one year before the great depression struck the USA. John C. Tyler and Thomas E. Leavey were familiar with farmers and ranchers having fewer risks with their vehicles, since Tyler's father was a farmer turned insurance salesman, and believed they deserved adequate insurance rates. Tyler and Leavey fronted their own money and initially went door to door selling their policies to farmers and ranchers, and eventually made enough money to start out with a one-room office in downtown L.A., California. During the Depression, Farmer's was actually able to pay the customer's money in cash for their claims instead of IOU's, as many other companies were. After an earthquake hit LA during The Depression, Farmer's paid for every customer's damaged cars, which marked the beginning of companies offering comprehensive auto coverage. In the 1950's, Farmer's was one of the first companies to use the IBM 705 computers for storing and retrieving data for daily use. In the 60's they introduced monthly payment plans, uninsured motorist coverage, and discounts to drivers between ages 30 and 60. In the 70's they started non-smoker discounts and maintained their data after another devastating earthquake in 1971 due to using computers for data storage. Over the years, Farmer's has continually been dedicated to disaster response and preserving the environment, being the first company to offer discounts for alternative-fuel vehicles. They have also founded Farmer's University, which was voted the number one training center in the country by Training magazine. This enables their employees and agents to obtain the best insuranc education possible.

Products and Services
Farmer's Insurance offers a wide variety of insurance policies including the standard auto, home, renters, and life insurance. They offer personal business insurance policies that are tailored to the unique characteristics of your industry and includes worker's compensation insurance, crime, liability, loss control and more. They also have coverage for motorcycles, recreational vehicles including motor homes, boat and water craft vehicles, off road vehicles. Farmer's offers financial plans for Mutual funds, 529 college savings plans, and personal umbrella liability for risks such as multiple vehicle accidents or protecting your families assets. They even have the family dog in mind and offer a 5% pet insurance discount from Pet's Best pet insurance company for being a Farmer's member. They offer “Farmer's Inner Circle” page where helpful and awareness articles are posted such as “Babyproofing the Modern Home” and “3 Ways to Get Your Home Earthq uake Ready,” which are just a few examples of the tips you can find on this part of website.

Training service and setup of training department
Farmers insurance provides its agents with a state of the art training facility that is called University of Farmers. This university is located in Agoura Hills, California. At the University, the company provides training for their agents and claims they offer, leadership, and management. The Farmers University facility consists of 20 state of the art class rooms and a faux training house that allows team members to participate in hands on and situational training. The facility also provides video feedback skill-practice rooms, a faux auto bay with damaged automobiles for students to assess, and advanced audio and visual technology to aid in and enhance employees…