Wayne Insurance Group [Daily Record, The (Wooster, OH)]
By BOBWARREN; BOBBY WARREN | |
Proquest LLC |
Reliability, predictability and consistency are traits that help insurance companies be successful when life becomes chaotic, unpredictable and interrupted.
The company emerged from an idea of two men back in 1908. When the company turned 50 years old,
"It was hard to get insurance in
Those farmers were looking for a way to protect their properties, and they met to discuss the formation of a mutual protective association. The company was incorporated on
From the minutes of that meeting, it was noted, "There was no desire on the part of anyone to antagonize any other company, or to ally ourselves with any other, but to work quietly and aggressively for the insurance of those who were contemplating a change, and whose risks would be of an excellent kind. To this end, caution was counseled as well as careful investigation of applications for membership in this association, and while a good-sized membership is desirable, yet only such a one from which as much of the hazard is eliminated as possible: for it is not the number of policies issued, but in the kind of risk incurred, wherein our safety lies. If we can have safe and at the same time inexpensive insurance the growth of the Association is assured."
Like many insurance companies, Wayne Mutual began as an assessment company, meaning its members paid in arrears. The insurance company would tally up how much it paid out in claims and distribute the costs among its members through assessments. Over time, the company switched to an advanced premium mutual association and no longer assesses policyholders.
When the company was incorporated, it was the
In 2009, the board signed an affiliation agreement with
The McCoy family has been tied to the company from the very beginning. The very first offices were in the home of founder
"It's nice to have the history; it's special to us," said
"After college, Matt began working with his grandmother,"
As the company continued to grow,
"He pretty much ran the company forever," Carmony said. "From 1956-1996, he was the face of Wayne Mutual."
Gresser was so intricately connected to the company that Carmony views himself as "a caretaker for
When Carmony, whose father, Lloyd, served as president of the board of directors from 1963-1970, joined the company in 1978, it was filled with
In 1952, the company moved into a converted home in the 200 block of
At this point, Carmony is uncertain whether Wayne Mutual will have to build any more additions right away if the company's growth continues, and it is due to changes in the industry.
A walk through the company's offices will reveal a lot of empty space. The floor space was needed for filing cabinets before the company moved to a paperless process.
"At the time, computers were just giving you more paper, and we were saving that paper," Carmony said. "When we went all digital, we didn't need (the space)."
Wayne Mutual once hired several workers who wore tennis shoes and did not do anything except pull files. Others were experts in finding lost files and did nothing but that.
"Digital changed our environment, along with mobile connectivity," Carmony said.
Adjustors are never in the office anymore; they are out in the field. They take digital photos of claims, and then email notices of loss into the company. Others work from home.
Even though the headquarters was designed for a second floor, because of computer technology, Carmony predicted, "We'll never add another brick."
The company might never add another brick, but it added another insurance company into the fold.
When the board went to visit the staff and offices of Marion Mutual,
About 130 independent agents across the state sell Wayne Mutual policies, said
Before entering into the agreement with
"I think there is a mutual respect between the companies, and like us, they have a commitment to the policyholder," Day said.
Among the independent agents selling Wayne Mutual policies are the
"Having represented the
"Under current President
"
"Their people are first rate and truly toil away every day in relative anonymity, I believe, yet they are very involved in this community. Their leadership team quietly goes about running a darn good little insurance company."
Company officials have shared their expertise in their communities, bringing their business experiences to help boards and organizations,
"
"It's one of these companies that has been around for a long time," Neyhart said. "They are very helpful to the community.
"They are kind of like a
"We're proud to be a local company," Carmony said. "You can do insurance anywhere. When you buy insurance from Western Reserve, Mennonite Mutual or Wayne Mutual, you are not only supporting that agent, but local companies."
Reporter
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