- Tech Insights
Todd Argall, Executive Vice President & Chief Executive Officer of Farm Bureau Mutual Insurance Company
Founded by Idaho farmers and ranchers in 1947, Farm Bureau Mutual Insurance Company of Idaho is one of Idaho’s leading auto insurers, the second largest writer of all insurance lines in Idaho, the largest writer of farm and ranch insurance in the state, and the largest personal lines insurance company based solely in Idaho. And since January 2020, the company has experienced record-setting growth and renewed financial stability under the direction of Executive Vice President and CEO, Todd Argall. Within two years of Argall’s tenure as CEO, Idaho Farm Bureau Insurance was recognized by Forbes as Idaho’s “Best-In-State” home insurer, the company received back-to-back financial strength-rating upgrades from AM Best, and Demotech recognized the company with consecutive STAR awards.
“The company believes neighbors should help neighbors,” Argall says about the company’s success. “Our team is committed to Idaho’s families, farms and ranches, and businesses. We live in Idaho and understand its communities. We’re neighbors to the customers we serve. The Farm Bureau family’s customer-centered approach of helping Idahoans protect what matters most to them has helped us flourish.”
Argall’s leadership style can best be described as consistent, principled, sincere, and transparent. He’s also a growth-minded leader who puts the company’s mission and customers first. While he leads as a role model, he credits the company’s success to its dedicated agents and employees stating, “Our people make the difference.” Which is why, Argall adds, the company’s long-term business plan – while ensuring the company fulfills its mission – also makes Idaho Farm Bureau Insurance a great place to work. “We benchmark salaries, benefits and agency contracts,” Argall explains. “We just shortened our work week and implemented an enhanced schedule with flexibility that includes a hybrid option. We also survey our employees and agents to gain input on how we’re doing and to make sure we’re not overlooking a need. Since individuals drive our success, the company fosters a growth mindset that recognizes creativity and initiative while recognizing challenges and opportunities.” Formalized leadership training allows the company’s current managers to pass these principles on to the next generation.
The company’s statewide network of agents are also trained on these principles. When discussing business development, Argall encourages the sales team and agents to be Accountable to the Opportunity. “A Farm Bureau Insurance agency is one of the best small business opportunities in Idaho. Success is possible if an agent takes responsibility for their agency’s development, is persistent, and has a growth mindset.”
To help facilitate this growth – which has reached unprecedented levels since Argall’s arrival – Idaho Farm Bureau Insurance uses Guidewire, the insurance industry’s leading software. “We’re currently migrating our technological platform to Guidewire’s cloud solution,” Argall says. “This will streamline several of our internal processes while making things easier for both our agents and customers.” Continued commitment to one particular customer segment has also benefitted the company. “Our company excels at serving farm and ranch customers,” Argall says. “We also value our relationship with the Idaho Farm Bureau Federation, the west’s largest farm organization in the west and the brand recognition and loyalty that the insurance company receives from this affiliation is tremendous.”
Argall plans to safeguard Idaho Farm Bureau Insurance’s success by fulfilling a long-term business plan that focuses on four goals: financial security, being the insurance company of choice in the communities the company serves, being the best place for employees and agents to have a career, and being a trusted business partner. “Although the changes necessary to realize these goals are difficult,” Argall says, “our team members and agents are making it happen. They are positioning the company for a very bright future.”
EVP & CEO
Farm Bureau Mutual Insurance Company
Farm Bureau Mutual Insurance Company of Idaho was founded in 1947 by Idaho farmers and ranchers who believed in the value of hard work, perseverance, and doing the right thing. Today, Farm Bureau Insurance remains committed to these values and the culture of caring they have inspired. We have also remained wholly based in Idaho and committed to protecting Idaho’s families and communities. Our long history of caring and commitment includes sponsorships, volunteerism, Idaho investments, and public service. Our slogan, “We know Idaho. We grew up here.” reflects our 70+ year-long relationship with the Gem State.