Horace Mann exists to help our nation’s educators protect what they have today and prepare for a successful tomorrow. We do so by providing auto, home, life and supplemental insurance and retirement products in the United States. Horace Mann is the largest national multiline insurance company focused on American educators as its primary market. Our nearly one million customers are primarily kindergarten through 12th grade teachers, administrators and other employees of public schools and their families.
by the Numbers*
auto, property, annuity, supplemental and life policies in force
educator households served
people saving for retirement with Horace Mann
educators reached through our financial education workshops in 2018
students reached through our DonorsChoose partnership in 2018
billion in assets
billion in written premiums and contract deposits
consecutive years of dividend increases
compound annual growth rate of book value plus dividends since 2011
million in share repurchases since 2011
*YE2019, unless otherwise noted
Horace Mann continues to evolve its solutions, resources and partnerships to better meet the educational community’s changing needs. Over the past five years, we’ve made substantial progress on our “PDI strategy” — enhancing products, distribution and infrastructure — to achieve shareholder value and better serve our customers. From 2014 through 2018, we focused on filling PDI gaps to set the stage for profitable growth. In 2019, our focus shifted to transformation as we integrated two key acquisitions and completed an annuity reinsurance transaction. We believe we now have the tools in place to accelerate shareholder value creation, gain significantly larger market share, and transform Horace Mann into the provider of choice in the K-12 educational space. Recent developments include:
- Products. We added a supplemental business line — defined benefit products, such as cancer, heart and accident coverages — through our July 2019 acquisition of National Teachers Associates (NTA). These in-demand products address customer concerns about rising out-of-pocket expenses stemming from unexpected medical events and carry higher margins than many other types of insurance products.
- Distribution. Trusted, knowledgeable agents partnering with schools make our growth possible. The NTA acquisition brought hundreds of agents with strong worksite marketing expertise and experience working with educators into the Horace Mann family. We’ve also created a direct sales team and enhanced self-service options, including a quicker, more comprehensive online quoting experience. These alternate sales channels funnel back to agents — who provide annual in-person reviews to help fine-tune their clients’ recommendations and reinforce the agents’ role as trusted advisors.
- Infrastructure. We’ve upgraded each of our administrative systems to ensure our infrastructure is modern, scalable and easy to use, thereby improving the customer and agent experience. In 2019, we began to roll out a suite of applications designed to dramatically increase customer convenience via mobile access, e-signatures, real-time policy issuance and changes, coverage comparison features, consolidated billing and more. In addition, we now can better meet the needs of school district administrators and business officials due to our January 2019 acquisition of retirement plan provider Benefit Consultants Group (BCG), which provided Horace Mann with an efficient, scalable ISO® 9001-compliant retirement platform and stronger plan design, administration and other worksite capabilities that meet the needs of employers and worksites. We are working to leverage these enhanced capabilities to broaden our market presence in school districts across the country.