On December 9-11th, Falvey held its annual winter meetings. Presenters from every subsidiary and department shared results from the year, along with goal progress and plans for 2020. And we all got to wear some really ugly Christmas sweaters and pajamas. 

We kicked off these meetings by reiterating our mission: “To produce a profit for our underwriters ​while providing quality service to our customers. We are committed to creative, individualized, affordable solutions that​ make a tangible difference.”

We also made sure to take the time to reflect on how far the company has grown and acknowledge the obstacles overcome in the past few years. We focused on the success we all had as a team and celebrated a historic year. 2019 marked a monumental point in Falvey’s history, as the last five years have been a major period of innovation and perseverance at Falvey. After a period of reflection, we turned out eyes towards our 2025 vision and the next challenges ahead.

This set the stage for all the information that was shared after, which is summarized below. 

Falvey Insurance Group

One of our big goals for 2019 was to expand our technology’s ability to adapt to customer needs. In our meetings, we shared some of the progress we’ve made toward that goal, including:

  • Increasing payment speed for customers
  • Improving the user experience in our products (automations, integrations, general navigation, etc.)
  • Incorporating more artificial intelligence functions
  • Building out mobile compatibility
  • Adding cyber security fortifications

Another big goal for the year was to increase our focus on being a learning organization, a central pillar of which was advancing employee development programs. Throughout 2019, we sent three employee NPS surveys and have created key performance indicators (KPIs) for 2020 based on those results. We also launched our internal trainings (such as our customer focus weeks) and hosted six volunteer opportunities (totaling over 130 hours of donated employee time!).

On a similar topic, we recapped progress toward our goal of providing more transformative experiences for customers and underwriters. The 2019 initiatives included sending multiple NPS client surveys and creating KPIs for 2020 based on the feedback, as well as initiating more short-term actions that immediately improved processes and services. 

Finally, we shared with the team what many already knew—that we’re growing fast. We brought 11 new hires on board in 2019 and will be expanding our office space to take over the second floor of our current building in 2020.

Falvey Cargo

The Falvey Cargo team presented on its programs to increase their customer focus and offer more value to underwriters—the team has an impressive 88% client retention rate. They also shared the additional technology product capabilities that were developed in 2019, including gateway efficiencies and policy forms. Lastly, Falvey Cargo hopes to continue improvement on its employee on-boarding and development plans.

Falvey Shippers

For the Falvey Shippers portion of our meetings, the team presented its primary 2020 initiatives. These include collaborating with marketing to develop strategies for each customer segment​, reviewing underwriting operations to ensure scalability​, and working closely with ProTecht and our operations team to ensure claim and recovery processes meet customers’ needs. 

Safe Harbor

Safe Harbor also presented on its efforts to expand services for customers and underwriters. For example, the team added automated quoting of renewal policies in 2019 and acheived a 92% client retention rate.  In 2020, Safe Harbor hopes to increase its staff training and educational opportunities this year.

2020 Promotions

Our winter meetings also serve as an opportunity to celebrate our rising stars and high performers. Here are the people who received promotions for 2020:

2020 Outlook & Goals

We wrapped up our winter meetings by summarizing what our company can offer the industry in 2020, which includes:

  • Expanded capacity to support market and customer needs
  • Strong technology and innovation
  • Robust underwriting support, from finance and claims to marketing and IT
  • Financial stability
  • Market leadership for all segments

Based on that positioning, our 2020 goals revolve around producing consistent underwriting profit while maintaining regulatory compliance, and providing a solution and experience that meets customer needs at a competitive price​.

All of our current programs and future goals are built upon a performance-driven culture. As we emphasized in our closing session for these winter meetings, the people of Falvey are its greatest asset.

To learn more, contact us.