TERMS OF USE ︳ PRIVACY POLICY ︳ DISCLOSURE
CELEBRATING SUCCESS | THE FCCI 2024 ANNUAL REPORT
The Year in Review
How FCCI Celebrated Success at home, in our regions and throughout the community
“Success is the sum of small efforts, repeated day in and day out.” This inspiring quote by author Robert Collier was brought to life every day at FCCI Insurance Group in 2024. Thanks to the dedication of our more than 880 teammates and 3,805 independent agents, we safeguarded the livelihoods of over 12,002 policyholders. In a year that brought snowstorms, heatwaves, tornadoes and hurricanes, FCCI weathered the storms and delivered results. Here are some of the highlights that made 2024 so special.
January through March
FCCI rang in the new year with excitement and high energy. The momentum continued through the first quarter with many highlights:
- We hosted Agents’ Advisory Council (AAC) meetings for the Florida-Georgia Region, Agribusiness and Surety teams.
- We hosted key events including the Business Development Specialist Conference, Claims Conference and National Utility Contractor’s Association (NUCA) Conference.
- In leadership news, Kevin Odberg was promoted to Vice President of the Mid-Atlantic Region.
- The Information Technology team rolled out single sign-on for the FCCI Risk Solutions Network and launched an Operational Excellence program to streamline workflows, cut waste and encourage innovation.
April through June
The second quarter featured celebrations, educational events, a new regional leader and new beginnings.
- On April 1, FCCI marked our 65th anniversary with teammates celebrating across the company and reflecting on our rich history.
- Spring also brought the Annual Deluxe Conference where top agency partners held business meetings and enjoyed the vibrant culture of Buenos Aires, Argentina.
- Safety took center stage at the Annual Risk Control Conference in Sarasota, featuring a live fire safety demonstration by the National Fire Sprinkler Association.
- IT’s AI Innovation Day explored how Artificial Intelligence can enhance operations and customer service.
- The FCCI Risk Solutions Network celebrated its first anniversary. With a 65% increase in usage over 2023 and nearly 4,000 active users, it has become a valuable online safety, compliance and training resource for policyholders.
- More AAC meetings were held in the Midwest and Mid-Atlantic Regions, along with the first E&S AAC gathering.
- The Southwest Region welcomed Ken Turnipseed as its Senior Vice President in Richardson, Texas.
- Eighteen enthusiastic college interns worked at FCCI during their summer break gaining hands-on learning experiences in several departments.
July through September
As the summer heated up, the third quarter was filled with growth, learning, technology and more claims success.
- We hosted the annual Agency Partnership Retreat, Producers Conference and the inaugural Premier Partner Training program.
- We also celebrated our 25th anniversary with CHAAP, as a valued agency partner.
- The Risk Control team released two new episodes of the Talking Risk podcast featuring fall prevention and fire safety.
- FCCI introduced a two-year Apprenticeship Program for recent high school graduates that offers them a chance to jump-start their professional careers. FCCI Apprentices receive competitive pay and a flexible schedule to accommodate their classes at State College of Florida. The program enables Apprentices to gain exposure to various FCCI departments and build their professional skills.
- On the tech front, single sign-on was expanded to ExpressServe and a computer-integrated phone system was introduced to improve communication. The Claims team stepped up during Hurricanes Debbie and Helene ensuring impacted policyholders received the support they needed.
“The Claims team stepped up during Hurricanes Debbie and Helene ensuring impacted policyholders received the support they needed.”
October through December
You could say that FCCI saved the best for last in 2024. The fourth quarter began with a promise delivered and ended with a vision for the future.
- October brought our biggest and most anticipated news of the year: the launch of FCCI Specialty Insurance Company, offering Excess & Surplus business lines in Florida, Georgia and Texas. In just three short months, E&S generated $4 million in direct written premium. It was a vision and accomplishment three years in the making!
- When Hurricane Milton struck Florida, our Claims team rose to the occasion yet again, providing prompt service to policyholders.
- FCCI attended the Council of Insurance Agents & Brokers, Insurance Leadership Forum in Colorado and held an Agency Partnership Retreat in Miami.
- Our School of Excellence introduced a new online learning platform for employee training and development.
- Seven teammates graduated from the Underwriting Trainee Program, joining two others who completed the program in May.
- To close out the year, we unveiled our 2030 Strategic Plan with a 2030 Strategic Vision and action plan focused on risk selection, product line expansion, agency management, technology and underwriting diligence.
Celebrating Claims Success
When it comes to claims, you must look below the tip of the iceberg to see the whole picture. There is a dedicated team working together to provide superb customer service and maintain financial integrity.
- FCCI paid over $617 million in claims to our policyholders in 2024, proving that we delivered on our promise to listen carefully, respond quickly and pay what’s fair to make our policyholders whole.
- Our Recovery, Special Investigations Unit and Medical Management teams worked closely with Legal to research, mediate, litigate and settle cases, saving FCCI millions of dollars in undeserved payments.
Celebrating Success in the Community
Of course, what would the year be like without giving back to the community?
- The FCCI Charitable Foundation raised $95,000 through proceeds from the annual FCCI Charitable Foundation Golf Invitational supported by our agents and business partners. Various fundraising efforts and teammate donations also contributed to the monies raised for the foundation.
- Our teammates also generously gave their time, with 466 volunteers contributing 2,116 hours (264 workdays) to community projects, including building a home with Sarasota Habitat for Humanity.
Celebrating Success by the Numbers
Here’s a look at some of the achievements that have driven our success.
- 123 new teammates hired
- $1.2 billion in Direct Written Premium
- $255.5 million in New Business Premium
- $105.6 million in Net Income
- 99.6% Combined Ratio
- 81% Retention Ratio
Thanks to everyone who contributed to our success in 2024. We are ready and eager to build on this momentum and deliver more difference-making results in 2025.
Awards & Recognitions
FCCI enjoyed another year of accolades that reflect our company's commitment to our teammates, partners and communities. Here’s a snapshot of awards and recognitions FCCI was honored to receive in 2024:
- AM Best Annual Rating Review – FCCI proudly upheld its A rating in AM Best's annual review, affirming our continued strength and stability in the insurance industry.
- Florida Trend’s Best Companies to Work For – FCCI ranked #5 in the Large Business Category on Florida Trend's "Best Companies to Work For" list, rising five spots from #10 in 2023. This marks our 16th consecutive year on the list, a testament to our commitment to providing a positive and rewarding workplace.
- 5-Star Best Construction Insurance Company – Insurance Business America awarded FCCI a prestigious 5-star rating as one of the Best Construction Insurance Companies in the United States, underscoring our expertise and leadership in the construction sector.
- Tampa Bay Business Journal Power 100 – FCCI President & CEO Cina Welch was named to the Tampa Bay Business Journal's Power 100 list, highlighting her as one of the most influential business leaders of 2024.
- SRQ Magazine, Good Hero Award – FCCI President & CEO Cina Welch was recognized among individuals who have made a philanthropic impact and giving back to the community a strong part of their corporate culture.
- Arkansas Big I Company of the Year – Our Gulf Coast Region was honored as Arkansas Big I Company of the Year, recognizing our exceptional service and dedication to the independent agent community in Arkansas.
