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Wfis capabilities presentation sharon anderson

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Insurance - Broker Capabilities Presentation

Insurance - Broker Capabilities Presentation

Published in: Economy & Finance

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  • 1. Wells Fargo Insurance Services Capabilities Sharon K. Anderson, CPCU ARM CRM Risk Manager Iowa
  • 2. 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?
  • 3. 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
  • 4. Ranked world’s fourth largest broker
  • 5. 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%
  • 6. Where we’ve been
    • Founded in 1989 in Indianapolis
    • Part of The Associated Group (Anthem)
    • Growth through acquisition
      • More than 100 acquisitions since 1990
  • 7. Where we are today
  • 8. Wells Fargo relationship
    • Wells Fargo acquired Acordia in May 2001
    • Future focus on cross-selling growth of middle market customer base
  • 9. 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
  • 10. Our mission
    • To be the leader in providing customers with trusted advice, creative and cost-effective risk transfer solutions, and unparalleled service
  • 11. 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
  • 12. 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
  • 13. Our strategy
    • Differentiate with expertise and service
    • Create market leverage to benefit all customers
    • Empower local management
    • Grow through acquisition
  • 14. 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
  • 15. 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
  • 16. Our Products
  • 17. 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
  • 18. Commercial lines
    • Mergers and acquisitions
    • Ocean and inland marine
    • Professional and product liability
    • Surety/performance bonding
    • Umbrella and excess coverage
    • Workers’ compensation
    • Wrap-ups
  • 19. Professional Risk Group
    • Crime coverage
    • Directors’ and officers’ liability
    • Employment practices liability
    • Environmental coverage
    • Errors and omissions liability
  • 20. Professional Risk Group
    • Fiduciary liability
    • Kidnap and ransom
    • Mergers and acquisitions exposure
    • Risk management for weather-related exposures
  • 21. 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
  • 22. 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
  • 23. 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
  • 24. Wells Fargo Special Risks Some 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
  • 25. Industry specialties
    • Wide range of specialties in specific industries
    • National expertise, local insight
    • Specialized risk coverages
    • Leverage with underwriters
  • 26. 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
  • 27. 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
  • 28. 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
  • 29. Employee benefits
    • Accidental death and dismemberment
    • Annuities
    • Dental, prescription and vision
    • Executive compensation and salary continuance
    • Group life, health, and major medical
  • 30. Employee benefits
    • Pension, profit-sharing, and 401(k)
    • Section 125
    • Short- and long-term disability
    • Voluntary offerings
    • Special risks
  • 31. 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
  • 32. 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
  • 33. Wells Fargo Disability Management
    • Manage risks
    • Control costs through proactive claims management
  • 34. 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
  • 35. Personal lines
    • Homeowners
    • Auto
    • Flood
    • Individual and family health
    • Individual life insurance
    • Marine insurance
  • 36. Personal lines
    • Medicare supplemental
    • Motorcycles and snowmobiles
    • Personal risk management
    • Professional liability
    • Umbrella coverage
    • Yacht/watercraft
  • 37. 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
  • 38. 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