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The Year-in-Review
Embracing opportunities and accomplishments with a Commitment to Excellence
2023 will be remembered at FCCI Insurance Group as a year marked by innovation, resilience and an unwavering commitment to excellence that propelled our team to new heights. Despite the challenges of inflation and weather-related events, the commitment to our agency partners and policyholders permeated every aspect of our operations, resulting in measurable achievements and a strong foundation heading into 2024. It was an exceptional year highlighted by many meaningful and record-breaking accomplishments.
January through March
The year started with two new business promotions for our agents targeting Workers’ Compensation and Property and Casualty lines.
Our Risk Control team introduced FCCI Risk Solutions Network – a complimentary robust suite of online risk management, compliance, educational tools and resources to help agents serve their customers and FCCI policyholders build a better and safer workforce.
The newly formed FCCI Specialty Insurance Company promoted Patrick Watland from Corporate Underwriting to Vice President, Excess & Surplus Underwriting. Pat began building the Excess & Surplus (E&S) team and processes from the ground up with expectations of starting to write E&S business in Q4 2024.
Several FCCI Agents’ Advisory Council meetings were held with positive feedback and ideas from our agency partners on all aspects of business operations.
April through June
The second quarter began with greater-than-planned premium production, growing investment income and solid bottom-line results.
Our top-performing agency partners from 2022 were rewarded with a trip to the Serengeti, Tanzania, for the FCCI 2023 Deluxe Conference. Qualifying agents from 2023 have been invited to Buenos Aires, Argentina, for the FCCI 2024 Deluxe Conference in April.
A.M. Best reaffirmed FCCI’s A (Excellent) rating among insurance companies. This rating exemplifies a company's balance sheet strength, operating performance, business profile and enterprise risk management.
FCCI relocated the Midwest regional office from Indianapolis, Indiana, to Carmel, Indiana. The more modern and functional space accommodates a growing team and includes ample room for training and networking events.
The Surety division continued its expansion by hiring territory managers to write bonds throughout New England and Western states. In 2023, FCCI went from writing surety business in 25 to 45 states.
FCCI partnered with the National Utility Contractors Association (NUCA) to become the organization's endorsed commercial insurance carrier through the NUCA Choice program.

In our Southwest Region, FCCI introduced the Texas Workers’ Compensation Dividend Program designed to reward select policyholders who have a record of excellent loss experience. Like many carriers, FCCI saw a spike in commercial auto claims as attorneys filed increased lawsuits ahead of Florida’s tightened tort reform laws. Property claims also rose due to weather-related damage across our regions.

July through September
The Risk Control team introduced an informative podcast series called Talking Risk. Episodes feature conversations on workplace safety, trenching, automatic sprinkler systems, risk control fundamentals, fleet safety, hazard mitigation, insurance technology and other industry insights. For the sixth consecutive year, FCCI paid dividends to association member policyholders with excellent loss experience of the Associated Builders and Contractors (ABC), Indiana/Kentucky Chapter. FCCI has never missed a year paying dividends to its policyholders.
FCCI celebrated Insurance Nerd Day with a few laughs and camaraderie among teammates and agents. The annual event is a chance to share the lighter side of our role insuring and protecting policyholders.
While work progressed on FCCI Specialty Insurance Company, Kristin Swineford was hired to lead the new organization as Senior Vice President of Excess & Surplus. E Fire USA became the newest resource of FCCI’s Vendor Alliance Program. E Fire USA is devoted to making the world safer by providing innovative firefighting solutions that reduce loss of life and property damage.
FCCI unveiled a new, more concise Mission Statement that is identifiable and memorable to all our stakeholders and better aligns with FCCI’s strategic vision – FCCI empowers its teammates to deliver commercial insurance products and services so businesses can thrive and face the future with confidence.
October through December
An Operational Excellence Program was introduced by senior leadership to help ensure the long-term sustainability and success of our organization. Its goals are to improve the quality of work, reduce costs and errors, increase customer satisfaction and improve how we work and do business. This program empowers teammates to be more innovative and gives FCCI a competitive advantage.
Charitable giving took center stage during the three-week-long celebration called Fall Fest. FCCI teammates and vendors participated in activities and contributed thousands of dollars to the FCCI Charitable Foundation. Proceeds were donated to nonprofits supporting foster children across FCCI’s footprint.
FCCI installed a cloud-based computer platform called BillingCenter by Guidewire to replace the legacy billing system. BillingCenter is a flexible billing and cash management system used to drive efficiency, help billing teams deliver excellent customer service and accommodate future growth and enhancements.
FCCI capped off the completion of its 10th new home build by volunteering with Habitat for Humanity, Sarasota. Sponsored by FCCI, the project helped make homeownership a reality for a hard-working family and demonstrated our dedication to corporate social responsibility.
The Medical Management team launched an Injury Triage Service for FCCI Workers’ Compensation policyholders' employees. Our partner, Medcor, provides telephone workplace injury assessments 24/7/365 by registered nurse health professionals when non-life-threatening injuries occur or at the onset of illness. Benefits include immediate evaluation and recommendations for a care path, reduced claim costs and improved injury reporting.
Thankful for Another Good Year
We can’t close the book on 2023 without giving credit where credit is due. Thanks to the efforts of our Human Resources team, hiring managers and teammate referrals, FCCI hired 167 new teammates in 2023, bringing our total workforce to 870 strong. Another 133 teammates were promoted. Thanks to every teammate for your commitment to excellence. Thanks to our 551 contracted agencies, 3,839 appointed producers and 12,582 policyholders who placed their trust and business with FCCI.
FCCI ended 2023 with new GAAP records: $3 billion in assets, $1.1 billion in direct written premium and $71.8 million in net income. Agency submissions increased by 16%, and we retained 84% of policyholder renewals. We finished the year with a claim closing ratio of 102% and a combined ratio of 101.6%.
FCCI's Commitment to Excellence was a driving force behind our robust performance and accomplishments in 2023. Our financial stability, prompt and fair claim resolution and keeping our promise to customers ensured that FCCI remained committed to our teammates, vendors, agency partners and policyholders, solidifying our reputation in the commercial insurance industry.
Looking ahead to 2024, FCCI is dedicated to helping all our stakeholders celebrate mutual success.
2023 Awards and Recognition
FCCI received several awards and recognitions in the Sunshine State during 2023 that underscore our unwavering commitment to excellence. By fostering a positive workplace culture, which resonates throughout our regions, FCCI has cultivated an environment that values innovation, collaboration and employee well-being. All of which form the basis for these well-deserved accolades.
FCCI rose to #10 on the 2023 Florida Trend Best Companies to Work for in Florida, top 100 list. FCCI has ranked in the top 25 among large companies (250+ employees) for 15 consecutive years from 2009 to 2023.
President & CEO Cina Welch was named to the Florida 500, Florida Trend Most Influential Business Leaders in Florida. Honorees are chosen for their impact on community service, philanthropy and for setting an example for best practices in their business sector.
FCCI ranked ninth in the Women’s Edge, Top 100 Women-Led Businesses in Florida. President & CEO Cina Welch was recognized for the second consecutive year among a dynamic group of women leaders statewide.
For the third consecutive year, FCCI made the prestigious list for Rising Insurance Star Executives (RISE) Professionals, Elite 50 Internships. The program recognizes the best insurance internship programs across the United States.
FCCI was a Greater Sarasota Chamber of Commerce Business Awards finalist. The award celebrates companies of all sizes that exceed growth and financial performance targets while demonstrating a vision for continued success.