The Precision Risk Management Story
Precision Risk Management is the first Approved Insurance Provider (AIP) writing policies without the use of third-party agencies. The founding of PRM cut out the complicated maze of providers. There does not need to be a middleman to get in the way of farmers and the support they need. Our team members are employed by PRM and work together to provide a better experience for our customers.
Early 80s
Risk management tools are hard to find and difficult to use. Few farmers bought federal crop insurance. Jeff Svennes is farming with some disaster years stacking up.
1988
Congress partially expands crop insurance little by little. Jeff tries out the new insurance program by signing with his neighbor.
1994
Federal Crop Insurance Reform Act of 1994 transforms federal program. Svennes Crop Insurance is born to help the farming community.
Mid 90s
Svennes Crop Insurance pioneers mapping acres to get more accurate coverage. Svennes leads changing the federal rules to incorporate the new acre mapping.
LATE 90s
Program rules, products and technology expand creating a complicated program. Svennes Crop Insurance helps farmers navigate ever-changing rules and options.
2004
While at John Deere, current PRM senior leadership, Don Preusser and Tommy Jones, launch precision technology for crop insurance. This revolutionizes the industry. They work with regulators to change the program to help growers who are overpaying premium.
2006
Svennes Crop Insurance becomes Certified Agents for John Deere. They spearhead the first precision technology program, so growers’ are able to maximize its full potential.
2011
The federal program changes how agents are paid, destroying many agencies. Svennes Crop Insurance transforms its business to continue to serve growers. Jeff is convinced the model of agencies is not working for the American grower.
2014
Jeff creates a new way to deliver crop insurance directly to farmers with the idea of Precision Risk Management.
2015 – 2018
The company fills the leadership with the most experienced professionals in ag such as Don and Tommy. The team secures dual reinsurance and gets an A+ credit rating.
November 2018
Precision Risk Management is given a Standard Reinsurance Agreement to become the only AIP that sells crop insurance directly to growers.
