FORT COLLINS, Colo. — Compass Ag Solutions is pleased to announce the addition of Livestock Risk Protection (LRP) insurance to its extensive toolbox of financial and risk management services. LRP has changed dramatically in the past year and is now both relevant and a substantially more affordable risk management tool for U.S. cattle owners.
“Compass’ mission is to improve cattle owners’ profitability through comprehensive financial and risk management services, so adding the LRP tool was an easy decision,” says Compass CEO Jason Kraft. “We have invested heavily to make this new tool available and understandable for cattle owners.”
To date, Compass has added five new team members dedicated to supporting LRP; licensed nine of their current team of business and risk management consultants as LRP agents; and augmented their industry-leading software solutions to incorporate LRP price risk management. Compass services all LRP contracts through Compass Ag Insurance, a wholly owned subsidiary created in April 2021.
“Compass is a dedicated cattle price risk management company that is serious about helping cattle owners take advantage of the improved LRP product,” Kraft says. “We specialize in cattle risk. Unlike generalists in crop insurance, loans, and property and casualty insurance, our team has decades of experience managing cattle risk and transacting their own and other’s cattle in the cash markets.”
LRP can be used in solidarity to manage price risk or in combination with traditional CME products and cash contracts. Compass services allow seamless deployment for all these tools.
“I began purchasing LRP for our personal cattle from traditional crop insurance agents in November 2020. When I realized I understood how LRP worked better than the crop agents, I knew there was a great opportunity to help other cattle owners with LRP,” says Joe Kovanda, Compass chief business development and strategy officer. “LRP is more like traditional price risk management tools than insurance, which is why Compass can better help cattle owners.”
Many cattle owners have heard of LRP offered through lending agencies or traditional crop insurance agencies. As a dedicated cattle risk management company, Compass offers substantial advantages vs. those other agencies, including:
1) Using CME products to enhance existing LRP strategies and provide greater flexibility around LRP;
2) Understanding the nuances and owner-specific opportunities present with LRP;
3) Utilizing our extensive operational experience with cattle and risk management; and
4) Providing decision support with technology and tools that simply do not exist anywhere else.
Compass Ag Solutions adds to team
Compass Ag Solutions continues to grow, adding services and staff to its base so that clients receive the highest quality support and consulting services available in the industry. Compass Ag Solutions’ already excellent team is pleased to join forces with the following new team members.
Troy Clevenger grew up on a third-generation cow-calf, farming and feeding operation in northeast Colorado. He attended Colorado State University, earning a degree in agriculture business. Clevenger began his professional career in the dry edible bean industry, working as an operations supervisor, and then joined Compass as a business and risk management consultant. Clevenger holds both brokerage and insurance licenses. Clevenger remains involved in his family’s operation and has a passion for the agriculture industry that stems from his roots. Along with his wife, Sydney, he calls Fort Collins, Colo., home.
Joe Kovanda was raised in Montana on his family’s diversified farm and ranch. He earned undergraduate and graduate degrees in agricultural economics from Colorado State University and Kansas State University, respectively. He joins Compass with a wealth of practical experience, previously managing cattle/feed price risk for Bartlett Cattle Company and Five Rivers Cattle Feeding. Kovanda holds both brokerage and insurance licenses and serves cattle owners as a business and risk management consultant. Additionally, he leads the Compass Ag Insurance team. He and his wife, Lacee, are active cattle feeders in multiple states. Along with two daughters, they call Columbus, Mont., home.
Caitlyn Ochsner was raised in Kersey, Colo., on her family’s registered Limousin cow-calf operation and has always held a deep passion and respect for the livestock industry. A gifted musician, she is a recent graduate of Belmont University in Nashville, Tenn. She serves Compass customers as LRP administrative associate and mid-office brokerage support. Ochsner calls Eaton, Colo., home.
Megan Sharp’s agriculture roots run deep. She was raised in northeast Colorado on her family’s farm and ranch. After taking time to raise her children, Sharp now serves Compass customers on the frontline of account setup as LRP administrative associate. Along with her daughter and son, Sharp calls New Raymer, Colo., home.
Jenny Evett was raised on a small farm in south-central Kansas. She earned undergraduate and graduate degrees from Kansas State University and has spent her entire career working in agriculture. She first worked at the Chicago Mercantile Exchange as an analyst focusing on Live and Feeder Cattle contracts, and then spent 12 years at Bartlett Cattle Company where her focus was optimizing the buy of feeder cattle, hedging and reviewing animal performance. She learned the vital importance of risk management in the success of cattle operations. She joins Compass after most recently working on the customer analytics feedyard team for Elanco Animal Health. Evett helps Compass agents/brokers and customers with analysis and strategic development of LRP and customer software solutions. She, her husband, Matt, and their two sons call Kansas City, Mo., home.
All team members can be reached via phone at 866-433-4350 or www.compassagsolutions.com. Please join us in welcoming our new team members to the Compass Ag Solutions team.
— Compass Ag Solutions
