Angle: Dec. 2019
As 2019 comes to an end, there is a great deal to be thankful for. We’re once again on track to achieve our annual strategic initiatives thanks to our incredible service team and agent partners like you. With your partnership, we continue to expand 3CU’s reach as a specialty workers’ compensation carrier.
Our calendar year combined ratio is better than plan, we are experiencing profitability across all market segments and our agency appointment strategy continues to be successful, with nearly 30% of new business premium coming from new relationships. On top of that, we’ve grown by 15%, staffing each region with local underwriting, claims and loss control reps and adding bilingual capabilities to the Claims team.
What matters most to us is making a positive impact in the lives of our people — injured workers, customers, agents, employees and community members. Thanks to the generosity of our amazing teammates across the AF Group enterprise, our 2019 Caring and Sharing Community Campaign (CSCC) raised a total of $294,000 that will be used to provide needed resources to local organizations, like Chicago Debates, Sarah’s Circle and the Northern Illinois Food Bank. This year’s campaign success was a 9.4% increase over last year — and $14,000 higher than our goal.
In 2019, our enterprise was very fortunate to receive some significant industry awards:
- We earned first place honors in the large employer category on this year’s Business Insurance list of Best Places to Work in Insurance.
- Our financial strength rating was upgraded to “A” (Excellent) with a “stable” outlook, which reflects A.M. Best’s recognition of our exceptional and consistent high performance in the industry.
- We are ranked as the 7th largest workers’ compensation insurance company (based on 2018 net written premium, Source SNL) with a diversified portfolio of insureds — by geography, size of accounts and classes of business.
- Ward’s, a leading provider of benchmarking and best practice studies for the insurance industry, listed AF Group as one of its 50 top performing companies.
Strong agent relationships are critical to our long-term success and 3CU could not experience this kind of success without your valued partnership. The marketplace competition continues to grow and your ability to sell the 3CU value proposition, a commitment to delivering unique workers’ compensation solutions for complex needs, truly makes a difference.
We’re eager to continue to partner with you in creative ways to write profitable business across all of our segments and look forward to mutual success this year and beyond. From all of us at 3CU, we wish you a very happy holiday season and thank you very much for your continued partnership and support!
Third Coast Underwriters specializes in workers’ compensation insurance and is dedicated to understanding and actively managing complex workers’ compensation risk with an unwavering attention to service. Since our inception, we have focused on one central premise — exceeding our customers’ expectations.
Because we partner with customers who have complex operations and challenging exposures, we know the importance of developing unique workers’ compensation solutions. We identify what is important to you and build our strategies based on three critical business factors – reducing accidents, lowering direct costs and increasing productivity and profits.
Recently, three of our amazing team members sat down to give their perspective on these business factors and what makes our organization so special. We hope you enjoy these videos of Debby Castellanos, Charie Phillips and Jerry Prindiville!