wfis capabilities presentation sharon anderson
DESCRIPTION
Insurance - Broker Capabilities PresentationTRANSCRIPT
Wells Fargo Insurance Services
Wells Fargo Insurance Services CapabilitiesSharon K. Anderson, CPCU ARM CRM
Risk Manager
Iowa
2Wells Fargo Insurance Services
America’s insurance specialist
Who we are
Where we are today
Wells Fargo partnership
Our mission and strategy
How we’re different
Our products
Why Wells Fargo Insurance Services?
3Wells Fargo Insurance Services
Who we are
With revenues of more than $1.7 billion*,Wells Fargo Insurance Services is ranked 3rd largest broker in the U.S. and 4th largest broker in the world by Business Insurance magazine (2009)
The largest bank-owned brokerage
In excess of $15.5 billion* in risk premium
More than 8,200* team members
Headquartered in Chicago, Illinois
More than 200* offices nationwide
* Figures include Wells Fargo Insurance Services, Inc., Wells Fargo Insurance, Inc., Wachovia Insurance Services, and Rural Community Insurance Services
4Wells Fargo Insurance Services
Ranked world’s fourth largest broker
5Wells Fargo Insurance Services
Who we are
Commercial Property and Casualty and Group Benefits are our primary product lines
Commercial Lines 58%
Group Benefits 15%
Fee Income 11%
Personal Lines 7%
Other Income 7%
Life 2%
6Wells Fargo Insurance Services
Where we’ve been
Founded in 1989 in Indianapolis
Part of The Associated Group (Anthem)
Growth through acquisition More than 100 acquisitions since 1990
7Wells Fargo Insurance Services
Where we are today
8Wells Fargo Insurance Services
Wells Fargo relationship
Wells Fargo acquired Acordia in May 2001
Future focus on cross-selling growth of middle market customer base
9Wells Fargo Insurance Services
Wells Fargo partnership
Product of more than 1,500 mergers over 150 years, including merger with Wachovia in 2009
Premier coast-to-coast diversified financial services franchise
Ranked #1 in small business lending and agricultural lending
Ranked #2 among home equity lenders
Second largest retail brokerage
More than $1.2 trillion in assets
More than 10,000 stores
10Wells Fargo Insurance Services
Our mission
To be the leader in providing customers with trusted advice, creative and cost-effective risk transfer solutions, and unparalleled service
11Wells Fargo Insurance Services
Our strategy
Concentrate our resources and capabilities close to the customer
Provide the right coverage at the most favorable cost
Embrace local roots and commitment to the community
12Wells Fargo Insurance Services
Our strategy
Value and encourage personal, trusting relationships our associates have developed with customers and markets
Nurture the entrepreneurial spirit of our local management
Provide technology and systems that go beyond any local limits for complex solutions, market leverage, and national or global service needs
13Wells Fargo Insurance Services
Our strategy
Differentiate with expertise and service
Create market leverage to benefit all customers
Empower local management
Grow through acquisition
14Wells Fargo Insurance Services
How we’re different
Big broker with a local broker approach Still America’s local insurance broker
Big brokerage clout and breadth of experience
Local brokerage expertise and service
Backing of Wells Fargo
Ability to attract and merge successful agencies
15Wells Fargo Insurance Services
How we’re different
We provide customers with experienced professionals and outstanding customer service they cannot get anywhere else
We have a wide range of industry specialties
We offer a wide range of products from a single source
We are national, yet locally driven
16Wells Fargo Insurance Services
Our Products
17Wells Fargo Insurance Services
Commercial lines
Association programs
Boiler and machinery/equipment warranty
Commercial property and casualty insurance
Construction and equipment maintenance
Credit insurance
Flood insurance
International
Management liability
18Wells Fargo Insurance Services
Commercial lines
Mergers and acquisitions
Ocean and inland marine
Professional and product liability
Surety/performance bonding
Umbrella and excess coverage
Workers’ compensation
Wrap-ups
19Wells Fargo Insurance Services
Professional Risk Group
Crime coverage
Directors’ and officers’ liability
Employment practices liability
Environmental coverage
Errors and omissions liability
20Wells Fargo Insurance Services
Professional Risk Group
Fiduciary liability
Kidnap and ransom
Mergers and acquisitions exposure
Risk management for weather-related exposures
21Wells Fargo Insurance Services
Wells Fargo Global Broker Network
Global network of risk management and insurance experts
Network partners in 90 nations: Europe, South America, Asia Pacific, North America
World’s largest and most experienced brokerage firms
Mutual focus on importance of local service
Custom programs for international companies
22Wells Fargo Insurance Services
Flatiron Premium Finance
A convenient premium payment alternative Fund the cost of insurance coverage in monthly
installments
Maintain steady cash flow
Competitive rates and tailored terms
No prepayment penalties
Access to an additional source of capital
23Wells Fargo Insurance Services
Wells Fargo Special Risks
Insurance solutions for specialty niche businesses
Innovative and unique, differentiated solutions
Wide range of experience – risk identification and carrier evaluation to loss mitigation techniques and claims management
24Wells Fargo Insurance Services
Wells Fargo Special RisksSome of our key programs
Bowling centers
Digital risk
Excess flood and flood compliance
Financial institutions
Health clubs
Motorsports
Skating rinks
Specialty property
Sports and recreation
Sports teams and venues
Tire dealers
25Wells Fargo Insurance Services
Industry specialties
Wide range of specialties in specific industries
National expertise, local insight
Specialized risk coverages
Leverage with underwriters
26Wells Fargo Insurance Services
Industry specialties
Aviation
Colleges
Construction
Energy and mining
Financial institutions
Fine arts
Golf courses
Health care
High-tech
Manufacturing
Nonprofit institutions
Public entities
Real estate
Resorts
Retail/wholesale
Ski resorts
Technology
Transportation
Just a few of our specialties
27Wells Fargo Insurance Services
Employee benefits
Analyze customer needs and develop a targeted strategy
Review existing programs to determine if a benefit revision is feasible
Evaluate service providers and negotiate premiums
28Wells Fargo Insurance Services
Employee benefits
Customize plan benefits and deductible options
Review prior claims and existing plans to determine opportunities to control costs
Help address employee concerns, and recruiting and retention issues
29Wells Fargo Insurance Services
Employee benefits
Accidental death and dismemberment
Annuities
Dental, prescription and vision
Executive compensation and salary continuance
Group life, health, and major medical
30Wells Fargo Insurance Services
Employee benefits
Pension, profit-sharing, and 401(k)
Section 125
Short- and long-term disability
Voluntary offerings
Special risks
31Wells Fargo Insurance Services
Wells Fargo Third Party Administrators
Disease management
Case management
Medical precertification
Regulatory matters Eligibility
Processing
Customer service
Ancillary services: dental, vision, and prescription drug claims
32Wells Fargo Insurance Services
Wells Fargo Disability Management
Third Party Administrators’ sister company
Can manage wide array of integrated programs and services
Custom-designed data systems to streamline operations
Combination of Internet access to customer information and service-focused claims managers
33Wells Fargo Insurance Services
Wells Fargo Disability Management
Manage risks
Control costs through proactive claims management
34Wells Fargo Insurance Services
Wells Fargo Disability Management
Customer-specific cost-containment programs and individualized services for organizations with diverse needs:
Black lung specialization
Cost-containment programs
Managed care consulting
Prestige claims service
Self-insured program management
Short- and long-term disability claims management
Third party claims administration
Workers’ and unemployment compensation management
35Wells Fargo Insurance Services
Personal lines
Homeowners
Auto
Flood
Individual and family health
Individual life insurance
Marine insurance
36Wells Fargo Insurance Services
Personal lines
Medicare supplemental
Motorcycles and snowmobiles
Personal risk management
Professional liability
Umbrella coverage
Yacht/watercraft
37Wells Fargo Insurance Services
American E & S
Professional specialty products and services
Maintains focus on one-of-a-kind coverages that require individual attention
Staffed by professionals with experience in: General liability
Professional liability
Property
Directors’ and officers’ liability
Fiduciary liability
Excess and umbrella liability
38Wells Fargo Insurance Services
Why do customers choose Wells Fargo Insurance Services?
Total commitment to the customer
Large broker expertise and local service
Big broker experience and leverage
Available across the nation and around the world
Expertise in customer’s industry
Single source for a broad range of products