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CELEBRATING SUCCESS | THE FCCI 2024 ANNUAL REPORT
FCCI Specialty Makes Successful Entry into Excess & Surplus Business Lines
New division is helping businesses tailor coverage and manage risk to protect what matters most.
On October 1, 2024, FCCI began a new chapter in its 65-year history by launching Excess & Surplus (E&S) business lines through the newly formed FCCI Specialty Insurance Company. This expansion reflects FCCI's commitment to the changing needs of businesses and agents. Phase one started with General and Excess Liability coverage through FCCI’s appointed agents in Florida, Georgia and Texas. But that’s just the beginning.
“We launched FCCI Specialty to enhance our existing product offerings while positioning us to capture additional opportunities with new products and customized underwriting,” said Tracey Pfab, FCCI’s Executive Vice President and Chief Regional Officer.
Celebrating Early Success
It didn’t take long to see results. On October 2, a General Liability policy was submitted on behalf of Eldridge Equipment Repair of Brooksville, Florida, by Agent Brian Tomlinson with Lumbra Risk Advisors of Orlando, Florida. As the first E&S policyholder, Eldridge chose FCCI to protect their business interests in ways traditional policies could not. More submissions followed and in just three months, FCCI Specialty wrote over $4 million in E&S premium. What a way to start this new chapter.
L to R: James Lumbra, Jr., President, LRA Insurance; Kristin Swineford, Senior Vice President, Excess & Surplus; Brian Tomlinson, Commercial Insurance Specialist, LRA Insurance
FCCI Specialty is doing things differently, and the agencies love it. The heart of FCCI’s E&S strategy is to build strong, trustworthy relationships with agents and policyholders. In an industry characterized by impersonal transactions and rigid processes, FCCI set itself apart by prioritizing efficiency and responsiveness. While many carriers offer similar coverages, FCCI’s relationship-centered approach ensures agents receive the support they need to help their clients.
What Makes Our Approach Special
Appointed agents have built a close rapport with FCCI’s captive wholesale broker. Agents work directly with FCCI underwriters on coverage and pricing that bypasses traditional wholesalers, making everything faster and smoother. This kind of cooperation strengthens the underwriting process and empowers agents to deliver solutions tailored to their client’s needs. Streamlined communication between agents and underwriters ensures that FCCI’s partners have the tools to succeed.
“We launched FCCI Specialty to enhance our existing product offerings...”
TRACEY PFAB
Executive Vice President & Chief Regional Officer, FCCI Insurance Group
Adapting to Meet Policyholders' Needs
The launch of FCCI Specialty highlights FCCI’s dedication to adapting to the evolving needs of businesses across industries. FCCI’s expansion into E&S positions the company as a serious competitor.
FCCI’s proactive approach to risk management reflects an understanding of the complexities businesses face. Whether dealing with new regulations, technological advancements, or unique operational challenges, FCCI Specialty aims to provide exceptional value through customized underwriting and robust service offerings.
This adaptability proved essential in a competitive environment where companies need more than standard policies. It requires tailored solutions to meet specific risks and vulnerabilities. E&S has filled the gap with offerings that align with issues businesses face.
Leveraging Technology to Streamline Process
As part of the E&S launch, FCCI has built an E&S Agency Portal with help from Cognizant and Duck Creek Technologies to enhance efficiency, improve responsiveness and streamline submissions. The new platform enables FCCI to adapt quickly to market changes, ensuring agents can offer their clients the necessary coverage without unnecessary delays. This modern approach improves the user experience and positions FCCI to respond proactively to the changing demands of the E&S marketplace.
What’s Coming in 2025
FCCI has big plans for the coming year. FCCI Specialty will expand General and Excess Liability submissions in its Gulf Coast, Mid-Atlantic and Midwest regions, stretching across FCCI’s five-region footprint. FCCI Specialty will also introduce Property, Inland Marine and Crime to its E&S offerings.
The ability to offer bundled coverage solutions is significant for agents and policyholders. It will streamline the insurance purchasing process and provide a one-stop shop for their risk management needs. This strategy enhances FCCI's position as a go-to resource for businesses seeking effective insurance solutions.
The Road Ahead
It’s encouraging to see how warmly the market has welcomed FCCI Specialty. The investments in technology and relationship-building are already paying off. The future looks bright as FCCI Specialty navigates the E&S market. FCCI is more committed than ever to being the partner businesses trust when they need specialized coverage. Here's to growing together and making insurance work better for everyone.
