Nationwide is a Fortune 100 company with headquarters in Columbus, Ohio. In 1926, Nationwide, formerly known as Farm Bureau Mutual Automobile Insurance Company, established itself as a business, funded by dues of the Ohio Farm Bureau Federation. Its goal was to offer more reasonable rates to farmers based on their driving habits. At the time of formation, its goal was 100 policyholders, but the value proposition was so compelling that it started with 1,000 policyholders. The business slowly expanded to other regions of the country, and in 1955, the Farm Bureau Mutual Automobile Insurance Company changed its name to Nationwide.
When it first began, Nationwide only offered automobile insurance, but as time continued, so did its offerings. Nationwide is now one of the largest insurance and financial services companies in the world. It provides residential property and casualty insurance, life insurance, and a variety of financial services, including retirement savings, asset management, and strategic investments.
As for innovation, Nationwide was the first insurance company to establish a 24-hour claims reporting service. Additionally, Nationwide was the first large insurance company to launch an app for iPhone users. In doing so, Nationwide created a platform for members to start the claims process with a photo, find agents, and receive quotes all from the convenience of their smartphone.