Provident Mutual Life Insurance Company of Philadelphia records

Transcription

1 Provident Mutual Life Insurance Company of Philadelphia records 1930 Finding aid prepared by Marjorie G. McNinch, Last updated on April 30, Manuscripts and Archives Department

2 Table of Contents Summary Information...3 Biography/History...3 Scope and Contents... 5 Administrative Information... 5 Related Materials... 5 Controlled Access Headings...6 Bibliography...7 Collection Inventory... 8 Corporate Records... 8 General Agent's Files...9 Personnel Records...11 Advertising and Sales Records...14 Centennial Page 2 -

3 Summary Information Repository Hagley Museum and Library: Manuscripts and Archives Department Creator Provident Mutual Life Insurance Company of Philadelphia. Title Provident Mutual Life Insurance Company of Philadelphia records Call number 1930 Date Extent 35 linear feet Language English Abstract The Provident Mutual Life Insurance Company was organized by a group of Philadelphia Quakers in 1865, and by World War I it had become one of the largest life insurance companies in the country with a strong presence in the New York and Boston markets. The records of the Provident Mutual Insurance Company of Philadelphia are a collection of fragments assembled by the Advertising Department in connection with the company's centennial history. Biography/History The Provident Mutual Life Insurance Company was organized by a group of Philadelphia Quakers in 1865, and by World War I it had become one of the largest life insurance companies in the country with a strong presence in the New York and Boston markets. - Page 3 -

4 The Provident Life & Trust Company of Philadelphia was incorporated on March 22, 1865, and opened for business on July 31, In addition to the main office staff, the company employed an increasing force of special agents or "canvassers", who moved into New York and Massachusetts in 1866, as well as Maryland, New Jersey, and upstate Pennsylvania. The Provident Life & Trust prospered through the 1873 national depression, and kept paying annual dividends. PLT also weathered the Armstrong Investigation of the insurance industry in 1906, and was specifically cited for its voluntary limit on expenses and public inspection of its books. That same year Asa Wing became President, and Joseph Ashbrook instituted the first formal training for agents. The training programs for Home Office employees materialized after a PLT Home Office employer/employ? ee relations group was established in The agency force was organized under the General Agency plan, in which the General Agent directed all agent activities, the manager handled field activities, and the cashier performed all clerical duties. By 1920 two thousand persons were employed in the agency and office work force; forty agencies with five hundred agents were in operation across Americirca In 1922 the Pennsylvania legislature revised state tax laws affecting mutual life insurance companies, which allowed for an expanded trust business. Provident Life & Trust decided for mutualization and by December 1922 had separate life insurance and trust departments. On December 29, PLT officially changed its name to Provident Mutual Life Insurance Company of Philadelphia. In 1923 Provident Mutual undertook a national advertising campaign to stimulate sales. The advertising strategy, which included journal advertising, direct mail and radio programs, became an integral part of Provident Mutual's operation. In 1931 M. Albert Linton became Provident Mutual's third President. In March 1935 PM distributed a new rate book. Since interest rates on investments had been lower than expected, PM had to increase the gross premium rates on policies by three percent. The Social Security Act became law later that same year. Linton initially opposed the Social Security Act fearing an adverse effect on insurance sales. Sales did not suffer, as the public sought more adequate protection to supplement a savings program. Linton published extensively on Social Security and life insurance. After World War Two, sales increased to over one billion dollars of insurance in force, a level reached once before in Advertising became decentralized with agents handling advertising in their locale. As PM approached its 100th anniversary, it entered both the health insurance and group insurance fields. Thomas F. Bradshaw became PM's fourth president after Linton retired at the mandatory age of 65 in In 1969 Edward L. Stanley became President, and John A. Miller succeeded him in Provident Mutual developed several in-house publications. For agents there were: Provident Notes, The Scoreboard, The General Agent, and Campus Notes. For employees there was "Between Ourselves". For the policyowners The Policyowner circulated. On October 1, 2002, Provident became a subsidiary of Nationwide Financial Services, Inc., and was renamed Nationwide Life Insurance Company of America, with the trade name "Nationwide-?Provident." At the same time, it was de-mutualized, with policy holders receiving stock or cash payments. - Page 4 -

5 Scope and Contents The records of the Provident Mutual Insurance Company of Philadelphia are a collection of fragments assembled by the Advertising Department in connection with the company's centennial history. Administrative Information Manuscripts and Archives Department Finding aid prepared by Marjorie G. McNinch, Access Restrictions Some records subject to 25-year time seal. Use Restrictions Literary rights retained by Provident Mutual Insurance Company. Use Restrictions Some records under a twenty-five year time seal. Provenance Deposit of the Provident Mutual Life Insurance Company Related Materials Separated Material Provident Mutual Life Insurance Company of Philadelphia photographs (Accession ), Audiovisual Collections and Digital Initiatives Department, Hagley Museum and Library Published materials, including the employee magazine are cataloged in our online library catalog. - Page 5 -

6 Controlled Access Headings Subject(s) Advertising departments. Advertising, Direct-mail. Advertising, Point-of-sale. Advertising, Public service. Advertising--Recruiting and enlistment. Ashbrook, Joseph, d Ashbrook, William S. Canvassing. Employees--Training of. Friends Provident Institution (London, England). Great Britain--Insurance companies. Insurance companies--employees. Insurance companies--great Britain. Insurance companies--investments. Insurance companies--pennsylvania. Insurance, Group. Insurance, Health. Insurance, Life--Agents. Insurance, Life--Policies. Insurance, Life--Rates and tables. Insurance, Life--Tontine policies. Insurance--Statistical methods. Insurance--Statistics. Linton, M. Albert (Morris Albert), Longstreth, William, d Marketing literature. Office practice. Pennsylvania--Insurance companies. Philadelphia (Pa.)--Insurance companies. Provident Life & Trust Company of Philadelphia. Provident Mutual Life Insurance Company of Philadelphia. Public relations--employers' associations. Public relations. Radio programs, Public service. Sales promotion. Shipley, Samuel Richards, Social security--law and legislation. - Page 6 -

7 Wing, Asa S. (Asa Shove), Provident Mutual Life Insurance Company of Philadelphia records Bibliography Fleming, Robert. Provident Mutual: A Centennial Portrait (Kutztown, Pa. : The Kutztown Publishing Company, 1966). - Page 7 -

8 I.. Corporate Records Collection Inventory I.. Corporate Records, Original Act of Incorporation and 3 facsimile copies, 22 March Box Original Certificate of Incorporation, Incorporation and Capitalization papers, Proposed charter, printed, Charter, printed, 25 March Charter (3 copies) and By-Laws (2 copies), printed, 1877, 1896, 1907, 1914, 1917, 1918, 1923, 1932, 1941, 1945, Original charter amendment, 1866, 1869, 1871, 1873, First Provident Life & Trust Co. check (hereafter referred to as PL&TCo.), 10 July PL&TCo. check, December Mutualization Papers, Corporation name change certificate signed by Pennsylvania secretary, Dr. Charles H. Willits, Medical Director - correspondence re applicants; medical office space requests from agents; medical policy changes; Instructions to Medical Examiners (1918, revised) by PL&TCo. of Philadelphia, House of Delegates (employee group) minutes, Page 8 -

9 II.. General Agent's Files Finance Committee minute books, 1876, volumes. 2 Mortality experience, volume. 2 PL&TCo. Death Losses - Matured Endowments, volume. 2 Memos of Cost of Lots & Improvements, N.W. corner of 4th and Chestnut [Philadelphia], undated.. 2 Friends Provident Institution, Annual Reports, Cash Book #1, Annual Statements, Annual Statements, Annual Investments, II.. General Agent's Files, General Agents Convention Proceedings, Box Provident Mutual Leaders Association meetings, 1960, , 1966, General Agents and Managers Leaflet Book, Agents rate books, bound copy rate books, Agents handbooks and manuals, Cincinnati Agents Policy record, 1916 June-1922 July Page 9 -

10 II.. General Agent's Files Agency records notebook and agents dates book (GA appointments), Special Agents Leaflet Book, Pt. 2, General Section, Insurance Department Agents Agreements, , , Joseph Ashbrook's agents circulars, Joseph Ashbrook letter to Mr. Day (GA) re raise for clerk of $35/month to $50/month, ?Provident Life & Trust Co. of Philadelphia?, by Robert I. Murray, The Provident Plan of Supplementary Compensation for Agents, 1944, The Provident Retirement Allowance Plan for General Agents, Travel brochures, circa 1940s. 7 The Provident Agent, The Provident Score Board, Provident Notes, Vol. 1, Provident Notes, 75th Anniversary/Provident Mutual Life Insurance Co., 22 March Provident Notes, New Orleans Convention Number, February Million Dollar Round Table, June "A Corporation with a Soul? by Asa S. Wing, Files on Agents entering New York and Massachusetts, Page 10 -

11 III.. Personnel Records Field Management Newsletter, Management Digest, Collaterals, , Coupons and mortgage agreements, 1900s. 8 Contracts and bonds on 4601, Mechanics and Suppliers, Investments, specimen policies, Syndicate agreement, Provident Mutual seal, III.. Personnel Records, Scope and Content Personnel records are primarily twentieth century, mainly because training programs were not instituted by PM until A.. General. Agency profiles. 2 volumes. 10 Box Group profiles. 1 volume. 10 Agent profiles.. 10 Agreement of Employees as to Disclosure of Business, Provident Life & Trust Co., Page 11 -

12 A.. General?As the Field Sees Us: A Report on PM's inventory of job attitudes?, March "Appraisal for Progress: A Report on PM's Employee Attitude Survey?, December ?A Brief Description of Home Office Depts. for the use of new employees & visitors?, undated.. 10 Brochure advertising PM's Retirement Plan Sales Manual. 10 In Their Country's Service, volumes. 10 Letters to servicemen, George D. Wood, Letters to Provident Service Personnel World War II, volume. 10 Cornerstone Honor Roll: Agents who in February, March and April paid for a total for $30,000 or more of insurance, 16 May Joseph Ashbrook letter to W.G. Day re the advisability of employing a woman as a clerk, 8 March Travel expense account kept by W.F. Grace, Pamphlets -?Here's How at Provident Mutual,? a secretary's and stenographer's manual by Doris Russell. 10 Pamphlets -?Home Office Rules and Regulations?. 10 Pamphlets -?Our Business Correspondence... Can We Improve It?? by Mabel S. Marsh. 10 Pamphlets - "You and Provident Mutual?, 1950, 1958, 1960, 1964, Page 12 -

13 B.. Recruitment and Training B.. Recruitment and Training. Box Provident Mutual Life Insurance Co. Trainer's Conference Guide--Intermediate (notebook) with attached letter, E.B. Clark, Jr. to Mrs. Adams, 30 June You...Life Insurance and the Provident Mutual, undated.. 11 The Provident Mutual Training Course [Young Men and Women/Provident Mutual; Chart for Living; Income Protection; Juvenile], ?The Provident Plan?. 11?You are important people?. 11 Career Sales Development Program--Basic I and Basic II.. 11 Training seminar time schedule.. 11 New Agent's Career Development Kit [Career Opportunities with PM; Career Opportunities at PM]. 11 Recruiting pamphlets - "Salesmanship? by Dr. Frank Crane, Recruiting pamphlets - "A Worthwhile Career?. 11 Recruiting pamphlets -?The Acquisition of An Agent?, Recruiting pamphlets - "Recruiting Aids?, undated. 11 Recruiting pamphlets - "Career Opportunity?. 11 "The Time for Decision" Page 13 -

14 IV.. Advertising and Sales Records Provident Mutual Life Insurance Company of Philadelphia records IV.. Advertising and Sales Records, Scope and Content Advertising and sales records are relatively complete and document a national ad campaign launched by Provident Mutual in A.. Sales Records. Sales promotion literature, Box Sales reply cards, booklets and leaflets, Broker promotional material, Annual statements of a promotional nature, A Guidebook to Early Production, undated. 12 A Salesbook for Continued Production, Publications of M. Albert Linton, PM Vice President. 12 Instructions to Medical Examiners, PL&TCo., The Providor Visual Sales Talk, undated. 12 Agents Kit Book, 1920s. 12 The Provident Mutual Cash Register, Page 14 -

15 B.. Advertising Records B.. Advertising Records. Sales promotion material, 1900s. 13 Box Testimonials, claims, and stories, Provident proposals.. 13 My Campus Market, undated. 13 Campus Advertising, Campus Prestige kit, undated. 13 Early Ads. 13 Ads - New Agents-Relocation. 13 Ads - Professional Men & Associations. 13 Individual Representative ads. 13 Ads - General. 13 Ads honoring agents. 13 Campus recruiting ads. 13 Ads - unnamed. 13 Magazine ad proofs, , undated. 14 Annual statements--philadelphia newspaper ad proofs, , Page 15 -

16 B.. Advertising Records?Story behind the Claim? radio script. 14 Radio spots, Survey results and comment from the field. 14?PM is on the Air? radio spot. 14 APPS Kit - ad brochures, Direct Mail Handbook, Agent Co-op ad analysis, Agency Management Handbook: Prestige advertising, College handbook of newspaper advertising, Directed Markets Programs, Agent Co-op Ad Program, Agency and Group Bulletin Boards, Trade journal ads, 1950s, , Provident Mutual window displays, Broker Ad and Mailer Program, Pamphlets -?What every businessman should know about pension and profit sharing plans?. 14 Pamphlets -?Introducing PM's 6 Golden Rules for...? Page 16 -

17 V.. Centennial Pamphlets -?Newspaper Advertisements?. 14 Provident Mutual early advertising, 1904, V.. Centennial, 1956, Scope and Content Consists of material collected for the centennial. A.. Centennial Dinner. Centennial Dinner Program, Box 100th Anniversary memos, recommendations, budgets, Printing plates for 100th Anniversary dinner, Correspondence re Centennial, 75th Anniversary folder, Centennial commemorative blotters, Provident Mutual Centennial Celebration scrapbook, B.. Subject Card File. Scope and Content Box 17 Consists of Robert Flemming's history notes for Provident Mutual's centennial publication.?the Co. moves to 46th St.? (extracts from local newspapers). 17 Box - Page 17 -

18 B.. Subject Card File Provident plus points. 17 Highlights of years Officers, Key employees th Anniv. Celebration. 17 The Get-Together Meetings. 17 Advent of Provident Notes. 17 Mutualization. 17 General Agents Association. 17 Special Agents Meetings. 17 Field Education & Training. 17 Recruiting techniques. 17 The J.A. Club. 17 Development of portfolio. 17 Correspondence Dept. 17 Development of Between Ourselves. 17 Birth of Printing Dept. 17 Addressograph Page 18 -

19 B.. Subject Card File The Night Men, M. Albert Linton. 17 Office equipment. 17 Provident library. 17 Legal Dept. 17 Actuarial Dept. 17 Women in Business. 17 Office Efficiency. 17 Job Evaluation. 17 Employee Merit Rating. 17 Mail Room. 17 The Cooperative Store. 17 Salaries. 17 Capitalization increase, H.O. Education. 17 H.O. activities, chorus, etc on. 17 H.O. Working Hours Page 19 -

20 B.. Subject Card File Athletic Assn. 17 Mrs. Tomson & diners. 17 H.O. Buildings. 17 Thomas A. Bradshaw. 18 The Nation, The Nation, World War I Field Club. 18 Influenza Epidemic. 18 The Nation, Agents Benefit Program. 18 Policy Owners. 18 Chart for living. 18 Field Club. 18 Provident 25-year Club. 18 Underwriting Division. 18 The Roaring 20s. 18 The Aftermath, Asa S. Wing Page 20 -

21 B.. Subject Card File General Agents & Mgrs Assn. 18 Field Force after The General Agencies. 18 The Nation Depression. 18 World War II. 18 Dev. of L.I. business from Agency & P.O. publications. 18 Medical Dept. 18 Publications Section. 18 Treasures Dept. 18 Mortgage Loan Dept. 18 Insurance Operations. 18 Accounting Dept. 18 Production levels, Policy equipment, Zone Plan of agency contacts. 18 Persistency. 18 Advertising Agcy & Co Page 21 -

22 B.. Subject Card File Evolution of Employee Benefits. 18 Provident Leaders Club, Provident Round Table, Provident Round Table, to, Regional Meeting, Company officers, Field Force, The Provident Spirit. 18 Developing professionalism. 18 CLU movement th Anniversary, 3/22/ Samuel R. Shipley. 18 Joseph Ashbrook. 18 Early Co. history (Per. Accts). 18 The Nation, Early field force. 18 1st meeting of Special Agents. 18 The Agencies Page 22 -

23 VI.. Miscellaneous Early Officers of the Co. 18 Annual Reports, Annual Reports, Annual Reports, Annual Reports, VI.. Miscellaneous. Acceptance of Risk by Security Insurance and Annuity Co., 8 December Box Samuel Shipley - Asa S. Wing job letters, items. 19 Letters to Asa S. Wing recalling organizational efforts, Friends Provident letter, Reinsurance correspondence, Economy Campaign, Suggestions for H.O. economies, Federal Reserve Stockholder Certification, Papers re moving of securities, 8 April Corporate Name Change certificate signed by Pennsylvania Secretary, with pen used to sign it, 29 January Calendar brochures, pocket calendars, Page 23 -

24 VI.. Miscellaneous Envelopes of PM agents. 19 Illustrated ink blotters. 19 Edward Snowdon - application and first PL&TCo. policy, 31 July Edward Snowdon - proof of death certificate, 6 February Emma Hatfield, insurance application, Gilbert Hatfield, Physician's report, 2 December John Frederick List, PL&TCo. 24th policy holder, original policy, 3 October Henry C. McIlvaine, insurance policy, William Patten, original policy, Paul Schenck, first policy sold in North Carolina to Margaret A. Schenck, Justus Sinexon, M.D., original insurance policy, 8 September ?Victory Liberty Loan,? pamphlet by Philadelphia National Bank, War Chest news article and publications, The Liberty Line news bulletins, War Savings Bulletin, 30 Dec The Thrift Spirit, Blueprints, History Room Plan, Casement drawings Page 24 -

25 VI.. Miscellaneous Agreement between Isabella Donohue & PL&TCo., for ground rent at Montrose & 22nd, Philadelphia, 24 September Letter, William Conant, Assistant Secretary of the U.S. Treasury Dept. to Asa S. Wing, 1876 November ?The Foundation of Life Insurance...? diagram of insurance scale, PL&TCo., Statement of business, PL&TCo., Presidential biographies. 6 items. 19 Types statements by early PL&TCo. organizers. 19?Strange letters? file, , Provident firsts, handwritten notes on cards, Actuarial Society of America, Vol. III, No. 29, Survey report on company operations, Tables of Monetary Insurance & Endowment Units by W. C. Wright, Valuation Tables by Elizur Wright, Elizur Wright Treatise:?A Curiosity of Law?, Elizur Wright letters, Savings Bank Life Insurance with illustrative tables by W.C. Wright, Tables of Single & Joint Life Annuities--Male & Female, PM Publications - Campus Notes, Page 25 -

26 VI.. Miscellaneous PM Publications - The Cornerstone Honor Roll, Speeches, 1927 May PM Publications -?Important Dates Respecting Changes in the Company's Practices?, circa PM Publications -?A Low Death Rate, PL&TCo., ?. 21 PM Publications - Laying of Cornerstone Program, May PM Publications -?The New Home of Provident Mutual?. 21 PM Publications -?The PL&TCo. of Philadelphia?, 1871, PM Publications -?PL&TCo. Profile?, PM Publications -?The PL&TCo., Years-1915?. 21 Provident Mutual: A Centennial Portrait by Robert Fleming. 21 PM Publications -?The Provident Policy Owner?, PM Publications -?70 Years of Provident Progress?. 21 PM Publications -?75 Years of Provident Protection?. 21 PM Publications -?Formal History of PM's Public Relations Program", Other Publications - Behind the Scenes of a Great Business, 1926, Related Publications - A Synopsis of Life Insurance Business since 1870 by W. W. Byington, Related Publications - Tables for [based on the results of Tontine Policies maturing in 1889] Page 26 -

27 VI.. Miscellaneous Related Publications - War Risks compiled by Edward Bunnell Phelps, Related Publications - The Financier, Vol. 6, No. 20, 1877 May Related Publications - The Standard, 1890 June Related Publications - U.S. Review, 1892 December New York State Legislative Assembly Committee -?Condition of L.I. Co.'s of State of New York?, New York investigation of insurance rates and fees, Scrapbook - Samuel R. Shipley, Scrapbook - Asa S. Wing, Scrapbooks - M.A. Linton. 2 volumes. 22 PM brochure -?Between Ourselves". 22 Annual Reports, , , The Christian Spectator, Vol. 1, No. 2, 1 February Sur l'application des Procedes Graphiques aux calculs d'assurances by Rene Poussin, undated Page 27 -