On January 25, Ben Salzmann marked his 20th year as Acuity’s President and CEO.
Over the past 20 years, Acuity has experienced a period of growth and financial strength unparalleled in the industry. The insurer has grown at more than twice the industry average rate from less than $250 million in 1998 to over $1.5 billion in revenue under Salzmann’s tenure. Its policyholders’ surplus, a key indicator of financial strength in the insurance industry, has grown at nearly three times the industry average and surged from under $190 million in 1998 to $2.1 billion at year-end 2018. This growth has led to robust hiring, including plans to hire more than 160 employees in 2019 alone. Over that same period, Acuity has nearly tripled its geographic footprint.
Additionally, Acuity’s consistent, strong performance has garnered much recognition over the past two decades. The company has been named for 19 consecutive years to the Ward’s 50 list of top-performing property-casualty companies, one of only three insurers in the nation to achieve that accomplishment. Acuity has earned multiple Stakeholder Team Accomplishment Recognition™ (STAR) Awards from independent financial analysis firm Demotech, Inc., putting the company among the top 1 percent of insurers nationwide. Acuity has also received numerous recognitions from independent agents, including the prestigious 2018 PIA National Company Award of Excellence.
Over the past 20 years, Acuity has also consistently been ranked as a top employer, including by Forbes magazine, Fortune magazine, and the American Business Awards. The insurer has been featured in national publications for innovations in recruiting and employment and maintains an average voluntary turnover rate of just 2%.
“It is an honor and a privilege to serve Acuity,” Salzmann said. “We have a tremendous team of staff and agents who are committed to doing what is right for our customers and working toward our mutual success. I simply could not ask to work with better people, and I am truly thankful each and every day.”
Salzmann first joined Acuity in 1990. Prior to Acuity, he served at Foremost Insurance in Grand Rapids, Michigan, and was part of early development efforts utilizing artificial intelligence in insurance. He is a Phi Beta Kappa graduate in liberal arts from the University of Wisconsin, has a computer information systems degree from Aquinas College in Grand Rapids, Michigan, and earned a master’s degree in business administration from the University of Wisconsin