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Northwestern Mutual Financial Network
Northwestern Mutual Financial Network is perhaps one of the most atypical successes in the American history. Widely regarded as one of the top quality insurers in US, the company developed in 1857 managed to achieve its current strength without advertising itself. The quiet giant evolved during the years to become named by Fortune magazine “The Most Admired Insurance Company” and also have a solid place in the Fortune 500 list.
The Website
NMFN.com is built the very same way as the company behind it. There is nothing glitzy about it, but all the necessary information is there. Whether an investor is accessing the site, a customer or someone interested in the company’s history, each of them can find quickly the information he or she seeks. What’s impressive about the site is the extended attention given to the history of the company (the timeline feature being incredibly well developed) as well as the continuous effort to educate in the fields of insurance, mutual funds and advisory services, the three pillars on which the company is built.
As a hidden perk, if you will let the main page opened for long enough, Ed Zore, the CEO of the company, will greet you personally, through a video message. At the time of the writing the company was celebrating 150 years from its inception and was probably the reason behind this unusual move.
The History Of the Company
Founded in 1857 in Janesville, Wisconsin by John Johnston, the company quickly grew and moved in a few years to Milwaukee. Despite the difficulties encountered in the pre Civil War era, the company resisted and by 1970 it was the 8th insurance company measured by the level of insurance-in-force in US. During the 1973 Panic, which saw many insurance companies go bankrupt, the cautious approach employed prevailed and Northwestern came out of it strengthened.
During 1874 and 1906, the company was led by Henry Palmer, a legendary figure in the corporate history. He expanded the company to new heights and has set new policies which would ultimately become the standard in the industry. The early adoption of technologies like the telephone and the typewriter is another aspect that defines this era.
From 1910 to 1920 the company saw World War I, the Titanic disaster and the Spanish Influenza virus, but the company has survived yet again the insurance payments and the level of insurance-in-force reached a staggering then 2.2 billion dollars at the end of the decade.
In the years of the Great Depression and the World War II, the company resists yet again and emerges victorious in 1946 as one of the top American companies. Northwestern was one of the very few companies that didn’t make workforce reductions during the Depression years.
1974 sees the breaking of a taboo, as Northwestern finally appeals to advertising with a slogan that would make history: “The Quiet Company”. This is the moment that is linked with a remarkable raised brand awareness in the US. The next decades saw the company thriving and becoming one of the most trusted and respected companies in the field.
The name of Northwestern Mutual Financial Network dates to 2000, to properly reflect the ever growing portfolio of services that the company is offering.
Impact On Popular Culture
Northwestern was a constant presence in all the events that shaped the end of the 19th century and 20th century in its entirety. However, this never really translated in a fame. The 1974 moment when the company finally decided to use advertising was also the moment that the company entered the public consciousness.
The main strength that the company relies on, the sales force, is one that has a special place among the American work culture, as it is widely considered as one of the most efficient in US.
The quiet and reassuring presence that Northwestern had along the last 150 years is a trademark of all the major insurance companies with a similar history. Together these companies represented a backbone on which a world force was developed.
Languages
English
Address
- 720 E Wisconsin Ave N08WC
- Milwaukee WI 53202 US
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