We are on a journey and I couldn’t be more excited about CopperPoint Companies’ progress and the momentum we have — to realize our vision to be a top-tier regional insurance company. In 2018, we took many steps forward toward our vision, and three strategic initiatives stand out for me as truly game changers for our future.
In January, we acquired Pacific Compensation Insurance Company, adding to our geographic footprint and adding further expertise and talent to help the CopperPoint family grow. In March, we launched Commercial lines, expanding our portfolio of commercial insurance solutions to better meet marketplace needs. And in October, we successfully implemented the Other States Expansion strategic initiative, giving us the business infrastructure to expand geographically under the CopperPoint brand. These strategic initiatives have enabled us to become a stronger local company, and that’s exciting for CopperPoint and Arizona. In fact, we were recently named the fifth-fastest growing private company in Arizona, reflecting our growth and investment in the state!
CopperPoint has always been a vital part of the Arizona economy, with roots that trace back to 1925. As we chart a course of growth and diversification, we are now an even stronger and attractive company that is investing in the local economy. For example, the 2018 launch of commercial property, auto and general liability coverages to Arizona brings more opportunity for our employees, local agent partners and customers, as we expand and build upon our expertise and specialization in workers’ compensation.
We are active board members in the Greater Phoenix Economic Council, Greater Phoenix Leadership and local chambers, where we work with other business colleagues to help drive growth in Arizona. CopperPoint and its employees have had a major impact in the community, as we work together to invest in and support the diverse local communities where our customers and employees live and work. We believe corporate responsibility requires active engagement with nonprofits and civic organizations through sponsorship, economic development and employee volunteerism, and our efforts have been widely recognized. Most recently, CopperPoint was awarded a Corporate Philanthropy Award for medium-sized Arizona companies in the Community Impact category, sponsored by the Phoenix Business Journal.
As we grow and expand we remain committed to supporting the Arizona community and ensuring that our Phoenix headquarters is a vibrant and engaging place to work that offers excellent opportunities to our local workforce. Realizing our business vision and balancing that with community engagement is a vital part of our company culture. This is a point of pride for us all. We have received numerous industry awards, which serve to illustrate the vibrancy of the organization and how engaged CopperPoint employees are.
About CopperPoint Insurance Companies
Founded in 1925 as a provider of workers’ compensation, CopperPoint Insurance Companies is dedicated to protecting and empowering conscientious business owners. The company’s vision is to be a top-tier regional commercial insurance company and the preferred partner for business owners, agents and brokers in every community it serves.
As Arizona’s premier provider of workers’ compensation, CopperPoint now offers an expanded line of commercial products — including commercial property, general liability, cyber, commercial auto, equipment breakdown, employment practices liability and umbrella — to ensure peace of mind to business owners, their employees and customers.
Headquartered at CopperPoint Tower in central Phoenix, the company’s 333 Arizona-based employees are led by President and CEO Marc Schmittlein.
Since Schmittlein joined the company in 2016, CopperPoint has become one of the fastest growing private companies in the state. Along with its growth in additional commercial lines, CopperPoint is expanding its workers’ compensation footprint in California, Colorado, Nevada, New Mexico and Utah. On December 31, 2017, CopperPoint acquired California-based Pacific Compensation Insurance Company, further diversifying and expanding its ability to serve business owners.
CopperPoint is recognized for exceptional customer service and dedicated employees who demonstrate the company’s core values of being principled, committed, human, inventive and hardworking.
The company also has been recognized locally and nationally for its community involvement through its charitable giving and business outreach programs. Giving back to the communities it serves is a corporate strategic pillar and a strong part of the company’s culture, as employees actively volunteer and donate to a myriad of nonprofits and civic organizations. Last year, CopperPoint’s Arizona employees reported 4,449 volunteer hours, and 30 company leaders served on 47 nonprofit and civic boards. CopperPoint’s corporate outreach focuses on organizations that impact education, economic development, health and safety, diversity, and arts and culture.
As a mutual insurance company with $4 billion in assets, a policyholder surplus of nearly $1.5 billion and no debt, CopperPoint embodies stability and sustainability for more than 13,000 policyholders, generating approximately $400 million in revenue. This financial stability has led A.M. Best to award the CopperPoint Insurance Companies an A- (Excellent) rating.
Year founded in the Valley: 1925, as the State Compensation Fund (SCF Arizona)
Industry: Financial Services (Insurance)
Top local executive/position: Marc E. Schmittlein, President & CEO
Number of years with company: 2½ years
Number of Valley employees: 333 in Arizona; 487 overall
Company website: www.copperpoint.com
Top 5 services/products:
- Workers’ compensation
- General liability
- Commercial auto
- Commercial property
Major 2018 milestone for the company: Acquisition of Pacific Compensation Insurance Company, a California workers’ compensation company