Sentry Insurance

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Sentry Insurance
Mutual
Industry Insurance & Finance
Founded 1904
Headquarters Stevens Point, Wisconsin, USA
Key people
Pete McPartland, President & CEO[1]
Number of employees
4,500
Website sentry.com

Sentry Insurance is a mutual insurance company specializing in business insurance. The company’s home office is in Stevens Point, Wisconsin, where about half the company’s approximately 4,500 employees are located. Sentry offers property and casualty insurance, workers' compensation, life insurance, and other business insurance, as well as non-insurance products like annuities and retirement programs. Sentry provides specialized insurance programs to customers in specific industries as well as very large companies with complex risk.[2][3][4]

Sentry is one of the nation’s largest mutual insurance companies. As of December 31, 2014, the company has assets of more than $14 billion and a policyholder surplus of over $4.1 billion. Sentry was rated A+ by A.M. Best, the insurance industry’s leading rating authority, as of 2015. In 2016, Sentry Insurance was ranked 755th on the Fortune 1000 list of companies.[5][6][7]

History[edit]

The Hardware Mutual Insurance Companies Building in Stevens Point, Wisconsin.

Sentry Insurance was founded in 1904 by members of the Wisconsin Retail Hardware Association, now the Midwest Hardware Association, to provide insurance for its members in the hardware industry. Its headquarters for many years was the Hardware Mutual Insurance Companies Building, built in 1922 and now listed on the National Register of Historic Places. Though supplanted by a new headquarters in 1977,[8] the historic building is still in use by the company today.

The company also owns its own golf course, SentryWorld, which opened in 1982.[9] Designed by Robert Trent Jones, Jr., it is regarded as a "destination golf course".[9][10]

  • In 2015, Sentry entered an affiliation agreement with Hortica Insurance & Employee Benefits, adding a new line of business specializing in providing insurance and benefit programs to retail florists and related companies.[11]
  • In 2014, Sentry purchased Anchor Management General Agency, establishing entry into the management general agency distribution model.[12]
  • Also in 2014, Sentry began supplying its transportation clients with DriveCam in-car cameras.[13]
  • In 2013, Sentry released a mobile version of its risk management portal.[14]
  • In March, 2012, Sentry Insurance named Pete McPartland CEO. He previously had served as president and chief operating officer.[15] In September, 2012, Sentry Insurance laid off 27 office workers and 144 home-based agents as it restructured its strategy for selling personal line policies. It launched a new independent agency, Point Insurance, to serve policyholders in central Wisconsin and offer Sentry products as well as those of other companies. The company subsequently received a 2013 Stakeholder Team Accomplishment Recognition™ (STAR) award from Demotech, Inc. for its operating results in 2012. The national award was based upon multiple financial measures; Demotech reviewed 2,736 property and casualty carriers, and Sentry was one of two companies in the Near National company classification to receive its top rating.[16][17][18]

[edit]

Sentry rebranded in 2016.[19] A new Sentry word mark includes a symbol made up of two stylized single quote quotation marks paired up into a circle, reminiscent of the yin and yang symbol, representing two sides of a conversation. The negative space between the quote marks takes on the shape of an S.[20] The company's previous logo was a minuteman image based on a sculpture of Capt. John Parker located in Lexington, Massachusetts.

Operations[edit]

As of December 31, 2013, Sentry had assets of $13.2 billion[1] and a policyholder surplus of $4.1 billion.[1] The Sentry Group of Companies serves more than 1.1 million policyholders. The company offers life, group health, auto, and other property/casualty lines. Sentry's property and casualty companies are rated A+ by A. M. Best.[21] The Sentry group of companies includes Dairyland, Peak Property and Casualty, Viking Insurance Company of Wisconsin, and about a dozen others.[22][23][24][25]

Corporate Philanthropy[edit]

Sentry Insurance supports a variety of nonprofits and educational institutions, both through employee donations and volunteerism, and through its Sentry Foundation.

Employee initiatives[edit]

Employees in the headquarters and other offices in Stevens Point, Wisconsin, have raised funds and volunteered for a number of local nonprofits. Highlights of their activities include raising the bulk of a $1 million donation for a United Way campaign in Portage County (location of Stevens Point) in 2015 and collecting and donating more than 2,600 food and household items to local food pantries in December 2015. [26][27][28]

Sentry Insurance Foundation[edit]

The Sentry Insurance Foundation, a private grantmaking foundation in Stevens Point, Wisconsin, was established in 1995. It disbursed $3.7 million in grants in 2014. The foundation made grants of more than $7 million in technology to classrooms in Portage County, Wisconsin, between 2008 and 2015. It awarded a $4 million dollar grant to the University of Wisconsin-Stevens Point in 2016 to fund a data analytics major.[29][30][31]

See also[edit]

References[edit]

  1. ^ a b c "2013 Annual Report" (PDF). Retrieved 2015-02-16. 
  2. ^ Enwald, Nathanael (March 9, 2016). "Sentry gives largest gift in UWSP history for new major". Portage County Gazette. 
  3. ^ Vine, Nathan (September 17, 2014). "Sentry Insurance looms large locally, nationally". Stevens Point Journal. 
  4. ^ "Sentry Insurance to Provide DriveCam Program to Transportation Clients". Insurance Journal. March 14, 2014. 
  5. ^ Vine, Nathan (October 2, 2015). "Gantz named Sentry's chief financial officer". Stevens Point Journal. 
  6. ^ "Sentry Expands Casualty Products to Clients with Overseas Operations". Insurance Journal. November 9, 2011. 
  7. ^ Weiland, Andrew (June 7, 2016). "Wisconsin has 10 firms on 2016 Fortune 500 list". BizTimes - Milwaukee Business News. 
  8. ^ http://www.uwsp.edu/cnr-ap/schmeeckle/Pages/about/history.aspx
  9. ^ a b D'Amato, Gary (October 13, 2014). "'New' SentryWorld recaptures old glory ... and then some". Journal-Sentinel. Retrieved 24 February 2015. 
  10. ^ http://www.jsonline.com/blogs/sports/179333261.html
  11. ^ "Hortica Now a Member of Wisconsin's Sentry Insurance Group". Insurance Journal. July 7, 2015. 
  12. ^ Gores, Paul (February 20, 2014). "Sentry to buy Alabama insurance agency". Journal Sentinel. 
  13. ^ "Sentry Insurance to Provide DriveCam Program to Transportation Clients". Insurance Journal. March 14, 2014. Retrieved 24 February 2015. 
  14. ^ Golia, Nathan (October 11, 2013). "Interview: Inside Sentry's Digital Interactive Team". Insurance & Technology. Information Week. Retrieved 24 February 2015. 
  15. ^ http://www.insurancejournal.com/news/national/2012/03/01/237677.htm
  16. ^ http://www.insurancejournal.com/news/midwest/2012/09/09/262357.htm
  17. ^ "Sentry Insurance a Mutual Company Awarded 2013 Stakeholder Team Accomplishment Recognition Award". Property Casualty 360. November 26, 2013. 
  18. ^ "Sentry Insurance Cuts Office Jobs, Agents". WMTV. September 7, 2012. 
  19. ^ Vine, Nathan (August 8, 2016). "Sentry Insurance rebrands, unveils new logo". Stevens Point Journal. 
  20. ^ http://www.underconsideration.com/brandnew/archives/follow_up_new_identity_for_sentry_by_futurebrand.php#.WDyUZcuV4Yh
  21. ^ "Rating Page". Retrieved 2011-11-08. 
  22. ^ Hillebrand, Melissa (February 23, 2016). "Google to terminate google compare". Property Casualty 360. 
  23. ^ Castillo, Juan (April 6, 2016). "Dairyland Insurance: A complete guide". Nerd Wallet. 
  24. ^ "Royal & Sun Alliance Agrees to Sell Viking Insurance to Sentry Insurance". Insurance Journal. July 29, 2005. 
  25. ^ "6 North Carolina Residents Accused of Staging Car Accident". Insurance Journal. April 1, 2016. 
  26. ^ "Sentry employees make donations through teamwork exercise". Portage County Gazette. December 31, 2015. 
  27. ^ Kemmeter, Gene (December 3, 2015). "United Way sets record amount". Portage County Gazette. 
  28. ^ "United Way honors individuals, organizations for support during 2015 campaign". Portage County Gazette. February 12, 2016. 
  29. ^ "Sentry Insurance Foundation Inc.". Find The Company. 
  30. ^ Lesk, Sari (March 8, 2016). "Sentry donation funds UWSP data major". Stevens Point Journal. 
  31. ^ Enwald, Nathanael (March 9, 2016). "Sentry gives largest gift in UWSP history for new major". Portage County Gazette. 

External links[edit]