Commonwell Mutual Insurance Group and Red River Mutual have partnered on a new joint venture – a managing general agent (MGA) that would specialize in the agriculture space.
The MGA start-up will assist both Commonwell and Red River in addressing existing challenges around customer expectations and ease of access to knowledge and coverage in the agriculture space. It will support the broker channel, and will focus on supplementing existing relationships and experience with new approaches and products – all while creating opportunities for expanding broker relationships and increased growth, a release said.
Both Commonwell Mutual and Red River Mutual have tapped Robin Shufelt to serve as the start-up MGA’s CEO. Shufelt previously served as a managing director at Duuo, the specialty digital insurance brand of The Co-operators.
“We are excited to look at the agriculture space in a new and focused way and address the complexity of the farming industry today,” said Red River Mutual president and CEO Brian Esau. “There is no ‘one size fits all’ when it comes to farm insurance, so this start-up will focus on insights and cutting-edge technology to help us develop products and services that complement our existing offerings and address unmet farming and agri-business operations' needs.”
“Our goal is to provide any broker with the tools and knowledge in the manner they need to grow with the dynamic opportunities offered in the fast-moving agriculture space,” added Commonwell Mutual Insurance Group president and CEO Tim Shauf.
“I am excited to work with these companies to be a leader in farm insurance,” commented Shufelt on her appointment. “Technology has become a huge part of this market, and I am excited to use my experience with cyber and tech innovation to create insurance solutions that will keep ahead of any change curves.”
