OUR MISSION & VISION
2021
ANNUAL REPORT
MENU
WINNING TOGETHER
LETTER FROM OUR PRESIDENt
2021 KEY ACCOMPLISHMENTS
CAPABILITIES & OFFERINGS
TECHNOLOGY & INNOVATION
ONE PARTNERSHIP AT A TIME
LIFE AT AMERISURE
SUPPORTING OUR COMMUNITIES
COVID-19 RESPONSE
DIVERSITY, EQUITY & INCLUSION
CHAMPIONS
FINANCIALS
BOARD & LEADERSHIP TEAM
SOCIAL MEDIA
USE THIS MENU TO NAVIGATE BETWEEN SECTIONS
MISSION / VISION
Amerisure creates exceptional value for its partners, policyholders and employees.
Industry-leading specialist transforming the insurance experience one partnership at a time.
VISION
MISSION
CHARITABLE GIVING
Our Values
RELATIONSHIPS to create powerful connections that drive mutual success AGILITY to respond rapidly and effectively to change COLLABORATION to share our ideas, innovate and ensure the best outcomes COMMUNITY to be inclusive, accept our differences and achieve our common goals INTEGRITY as a foundation for everything we do PASSION to deliver a superior customer experience
Letter from President & CEO/ chair of the board
Gregory J. Crabb President & Chief Executive Officer Amerisure
As I look back on 2021 and our successes, I am pleased with what we achieved during another volatile year filled with unforeseen circumstances. However, what I’m most proud of is the multiple workplace awards we received, including Best Places to Work in Insurance (nationally) and Best and Brightest Companies to Work For® in the Nation while delivering these results. With all of the stress and pressures of another year dominated by COVID-19, it is reassuring to know that our most important asset, our people, continue to feel a bond with our organization and our customers. Amerisure’s mission is to create exceptional value for our partners, policyholders, and employees. The year 2021 was another year where the company fulfilled this promise and remained focused on powerful partnerships and mutual success.
We remained committed to making a difference — driving diversity, equity, and inclusion (DEI) in our organization, the insurance industry, and the communities we serve. Our DEI Ambassador program, comprised of approximately 40 leaders and employees, instituted various initiatives that continue to bring focus to this important topic within our company. We also had many of our leaders participate with various industry groups committed to progressing DEI, such as the National African-American Insurance Association, Women in Insurance & Financial Services, and Independent Insurance Agents & Brokers’ Diversity Council. We engaged a recognized consulting firm to help us better understand our current DEI culture and provide actionable steps for improvement. As we closed the year, a diverse group of executives and employees from all levels of the organization worked with the consulting firm to identify and prioritize opportunities for DEI actions we will engage in 2022 and beyond. Every year, the insurance operations contribute 1% of our net income to the Amerisure Charitable Foundation (ACF). The top three charities sponsored by the foundation are Boys & Girls Clubs of Southeastern Michigan, Junior Achievement, and Special Olympics Michigan, and each celebrates diversity, equity, and inclusion in its own way. Over $550,000 and hundreds of hours were donated to these and other charitable organizations in 2021.
Our financial strength is a top priority, and AM Best once again affirmed our “A” rating. At the end of 2021, we grew our policyholder surplus by 9%, or nearly $100 million, making it our ninth consecutive year of surplus growth. Our net income of $72 million and our operating ratio of 91.8 both exceeded our plan. Our strong financial position is reinforced by our debt-free balance sheet, with over $3 billion in assets. With our focus on improving our profitability in select geographies, we experienced modest premium growth of 2%. We overachieved in areas where we targeted growth with our new business, exceeding the previous year by over $30 million. Our growth included premium in our newer geographies of Colorado, Maryland, Oklahoma and Western Pennsylvania, as well as more than 30% growth in our most profitable Special Risk unit, which provides loss-sensitive plans to many of our largest policyholders. At the close of 2021, our calendar year combined ratio was 103.3%, which was in line with our plan and reflected an anticipated slight uptick in severity as sometimes out-of-practice workers returned to their jobs and vehicles after a COVID-induced hiatus. While we continue to focus on improvement, we were satisfied with this result, recognizing it also included material payments for the successful resolution of two legacy asbestos disputes.
Being a specialist is a critical element of our strategy, and we put renewed focus on strengthening our expertise and solutions in our target markets of construction and manufacturing as well as advancing our niche specialization in the Programs market. We established new vertical leads for each target market and began the execution of multiple product enhancements, including establishing a Surety team to serve the construction market. Our recently formed Programs unit gathered momentum with new business tripling over prior year, including the addition of two new programs and our first Managing General Agent (MGA) relationship. We continue to build on our industry-leading Net Promoter Scores as we seek new ways to improve and transform our agency customers’ and policyholders’ insurance experience and adapt to advances in both technology and the evolving competitive landscape, which is dominated by consolidation in the agent and broker space. Among our many digital enhancements were an improved usage-based insurance solution, a new electronic billing option, and a well-received digital first notice of loss. Our efforts were recognized for the third consecutive year with a Novarica Impact Award, as well as an overall assessment as an Innovator. Our teams seized the opportunity to update our service delivery with the launch of our cross-departmental “One Amerisure” platform, which repositions us to deliver a more accessible, consistent, and unified service experience to all of our constituencies — a true differentiator in the industry. As the distribution landscape continues to rapidly evolve, we responded to these changes through a significant refresh of our industry leading Partners For Success® (PFS) agency program. Our updates better recognize and respond to the different and unique needs of each agency and ensure we fulfill our Vision by treating each agency relationship as “one partnership at a time.”
“The company’s continued success is a direct result of the strength of its agency relationships and the diligence of its expert employees combined with their devotion to delivering industry-leading customer service.” Phillip E. Love, Jr. Chairman of the Board of Directors
LIVING OUR VISION
CONTRIBUTING TO FINANCIAL STRENGTH
FOCUSING ON DIVERSITY EQUITY & INCLUSION
DELIVERING ON OUR MISSION
Amerisure entered 2021 with focus and energy, anticipating that COVID-19’s impact would be mostly behind us. But while COVID-19 remained prevalent, it did not stop us from achieving our goals. Our teams rose to the challenge and executed effectively on multiple key initiatives, furthering our Vision of being an “Industry-leading specialist transforming the insurance experience one partnership at a time” while simultaneously growing our financial strength.
2021 key accomplishments
We announced and launched a refreshed service value proposition in 2021: The One Amerisure service model reinforces that the agency is our customer, and our goal is to deliver an industry-leading experience, every time, to our agencies and policyholders. This includes: Through this evolution, our vision of being an industry-leading specialist, transforming the insurance experience one partnership at a time, is more important than ever. We are embarking on a journey of growth with our agency customers, policyholders, and our people, and are excited for the future.
One Amerisure Behaviors
One Amerisure in Action
One Amerisure: What Employees Are Saying
Industry-Leading Net Promoter Scores
Amerisure held its first-ever service-based virtual summit with all employees to announce the One Amerisure service model. This summit affirmed the plan with our talented employees and introduced the One Amerisure behaviors. These behaviors serve as the framework to our areas of focus: These align with our company mission and vision and underscore the commitment to our values.
Since the launch of One Amerisure, we have rolled out several enhancements to the service experience: Because of who we are and how we were built, we will continue to be who our agency customers and policyholders desire and ensure we are meeting individual needs to maintain mutual success.
Reaffirmation of single points of contact with field marketing and underwriting (FMU), providing added value to customer agencies and policyholders Risk management expertise specialist and service specialist roles added to provide specialized support and a higher level of collaboration for all agency customers and policyholders Enhanced technical expertise across teams to further industry specialization Continuing to leverage emerging risk technologies to improve results Claims experience organization (CXO) unit — newly created department to place emphasis on consistent service experience SureClaims™ refreshed service value proposition for claims, reinforcing collaboration and close partnerships with agencies through account-level liaisons — ensuring access to the right claims contacts, at the right time
The Net Promoter Score (NPS) is one of the most widely recognized measures of client loyalty across industries. Amerisure’s continuous industry-leading NPS scores reflect customer satisfaction across our services and solutions. Our aggregate policyholder score of 83 encompassed results from more than 2,000 surveys and has remained consistent year-over-year. These strong NPS results highlight Amerisure’s proven focus on providing a superior service experience for our agency customers and policyholders. Amerisure’s specific NPS results in risk management and claims for 2021, 81 and 83 respectively, are more than double the carrier average.
83
“One Amerisure’s collaborative approach encourages planning ahead and looping in experts across all departments, which results in a customer experience that shows how committed Amerisure is to great results and to deepening relationships with our customers. When our customers see how well Amerisure employees work together and where each employee can add value, it’s a living example of how much we can achieve collectively through true partnership and sets the stage for us to partner with our agencies to win together.”
“The One Amerisure behaviors demonstrate that working together and foreseeing potential challenges underscores our commitment to providing top-notch service to our customer agencies and policyholders…. we as a team project what-ifs that could arise and pose potential solutions to those what-ifs in advance. This has proven to be beneficial in developing relationships with our partner agencies and existing policyholders, as well as in forging new relationships with newly appointed agencies and prospective policyholders.”
At Amerisure, we continue to be agency driven, providing superior service through our expert employees. Our strategic partnerships are built to foster mutual success and lasting relationships with our customers. This has been our past and it is also our future. The insurance industry is evolving, impacting our agency customers, policyholders, and our business — and together, we can use this moment as an exciting opportunity to accelerate our collective growth by: Through this evolution, our vision of being an industry-leading specialist, transforming the insurance experience one partnership at a time, is more important than ever. We are embarking on a journey of growth with our agency customers, policyholders, and our people, and are excited for the future.
Launching One Amerisure to ensure our customers are receiving a consistent, superior service experience Refreshing our Partners For Success® (PFS) program to more effectively meet the varying and evolving needs of our agency customers Investing in new tools and technologies to allow agency customers and policyholders to interact with us how and when they want, and on their own terms Continuing to look for growth opportunities by furthering state expansion, leveraging Special Risk capabilities, investing in employees and their technical expertise, and exploring new products and distribution channels
“It has been great working with Amerisure. They have been very helpful and have the tools readily available to assist.” “I value Amerisure’s help and honesty. They are always there to answer questions.” “I like the communication and thoroughness -- and I love Amerisure.”
What Policyholders Are Saying...
Delivering value first to our agency customers Providing consistent, high-quality service to all policyholders appropriate to their needs Equipping and empowering our expert employees to best serve our customers
What Employees Are Saying About One Amerisure...
“The One Amerisure behaviors demonstrate that working together and foreseeing potential challenges underscores our commitment to providing top-notch service to our customer agencies and policyholders…. we as a team project what-ifs that could arise and pose potential solutions to those what-ifs in advance. This has proven to be beneficial in developing relationships with our partner agencies and existing policyholders, as well as in forging new relationships with newly appointed agencies and prospective policyholders.” “One Amerisure’s collaborative approach encourages planning ahead and looping in experts across all departments, which results in a customer experience that shows how committed Amerisure is to great results and to deepening relationships with our customers. When our customers see how well Amerisure employees work together and where each employee can add value, it’s a living example of how much we can achieve collectively through true partnership and sets the stage for us to partner with our agencies to win together.”
Ownership
responsiveness
empathy
recognition
creative problem-solving
proactive collaboration
flexibility
capabilities & offerings
Amerisure is focused on building new capabilities and enhancing our offerings to best serve our markets and support our agency customers. In 2021, Amerisure explored, piloted and launched several capabilities in response to the evolving commercial insurance industry. We’re confident these new and enhanced offerings complement our suite of insurance solutions and valued services that allow policyholders to stay focused on their businesses.
Advancements in Manufacturing: Expanding Our Product Suite
Building On Our Construction Expertise
State Expansion Enhances Our Reach
Amerisure Programs – Evolving Our Business Model
Our Special Risk team offers larger policyholders creative loss-funding solutions and flexible collateral requirements. Our strategy for loss sensitive programs is to provide a competitive advantage by reducing the overall cost of insurance. We do this by working with our Partners For Success® (PFS) agency partners to create a program that fits a policyholder’s appetite for risk, helping them mitigate and prevent losses with our industry-leading One Amerisure services. Together with our PFS agency customers, our Special Risk new business increased by 25%. The Special Risk top line grew by 10%. Attributing to the company’s profitable growth in 2021: INDUSTRY-LEADING SPECIALISTS Our team is always focused on continuous development, supporting and enhancing the expertise of our underwriting staff and providing investment in training through Special Risk-focused courses in our APEX learning platform. TRANSFORMING THE INSURANCE EXPERIENCE Our claims and risk management teams met with prospective policyholders to tell our story and highlight our collaborative and communicative One Amerisure service experience. This engagement contributed to five accounts with individual account premium of over $2 million. ONE PARTNERSHIP AT A TIME Together with our field marketing and underwriting team, Special Risk focused on agency relationship development. We leveraged both in-person and virtual connectivity options for “coffee and conversations” check-ins that helped to build confidence with our agency partners, focus on agency expertise, and create a pipeline of future opportunities to support the needs of policyholders and profitable growth.
Special Risk
As manufacturing processes and everchanging working environments become more complex, we at Amerisure understand how these changes can also present unique risks. To support agency customers and manufacturing policyholders, Amerisure began significant product development for two new coverage solutions in 2021: Product Recall and Manufacturer’s Errors & Omissions. The optional endorsements are written in conjunction with a commercial general liability policy and will be available to policyholders in most of Amerisure’s operating geography in the second quarter of 2022.
Amerisure proudly announced operational expansion into the states of Maryland, Colorado, Oklahoma and Western Pennsylvania in 2021. As part of Amerisure’s Partners For Success® program, our insurance products and solutions are now offered in these states through an exclusive network of elite independent insurance agencies. State expansion has been a key contributor to Amerisure’s success and allows us to identify new agency partners and deliver exceptional service to additional businesses in key market segments.
At Amerisure, we are committed to being an industry-leading service provider in the commercial construction space. To further broaden our expertise and capabilities in this market, we have formed a new specialty division: Amerisure Surety. The new business is managed by Amerisure Mutual Insurance Company and will leverage select agency relationships to offer contract surety products. The foundational pillars of the new division — highly valued exclusivity, agency-driven processes, and superior service — underscore the team’s focus on establishing selective, long-term agency partnerships. Surety products are being selectively offered as of April 2022.
Together with our agency relationships, Amerisure Programs (AMP) designs comprehensive coverages to help protect exposures within specific industries. AMP takes a holistic approach by working closely with our risk management and claims teams to craft the best solutions to meet policyholder needs. In 2021, AMP entered its first partnership with a Managing General Agent (MGA) — Arden Insurance Services. Arden is a specialty MGA with an exclusive emphasis on insurance coverage designed for condominium associations, homeowner associations and planned developments. Through the focused work of our AMP team, this strategic collaboration will further enhance our industry expertise and expand Amerisure’s distribution model in support of profitable growth.
Manufacturer’s E&O extends general liability coverage to indemnity for financial loss caused by policyholder negligence in the design, manufacture, or installation of a product.
Product Recall coverage helps to protect manufacturers from the unexpected risk exposures and financial burden associated with recalling a product from the market.
PRODUCT RECALL
Manufacturer’s E&O
Serving Our Markets & Supporting Our Customers
Click the topics on the right to learn more.
Technology & innovation
We are committed to continuing our journey of agility with the development of services and solutions that provide an exceptional insurance experience for agency customers, policyholders and employees. In 2021, several technological innovations, experiments, and initiatives were piloted and delivered to continue to improve business outcomes across the value chain, including product, sales & marketing, distribution, underwriting, claims, and customer service. Benefits for these enhancements aim to:
Together with IT, the Amerisure underwriting teams explored and initiated several exciting technologies that will streamline the service experience for our agency customers and policyholders, including:
Underwriting Automation
Aerial imagery, to be operationalized in 2022, provides high-resolution satellite images of commercial properties of all sizes, including roofs, pools, fencing, and more. This technology reduces the need for physical inspections, providing records of property conditions for improved quoting and underwriting accuracy. It can also reduce property losses through risk analysis.
Aerial Imagery Technology
This automated system provides fast and easy re-keying of Workers’ Compensation new business submissions currently received via email, reducing manual data re-entry by hundreds of hours annually — increasing efficiency and accuracy.
Intelligent Text Question System
Improve efficiency through automation Increase speed-to-market for products Generate business opportunities Accelerate knowledge transfer Improve customer satisfaction Reduce frequency, severity of losses
SALES TECHNOLOGY
In 2021, Amerisure selected a customer relationship management platform (CRM) for implementation across the organization. This new tool will create a single source for prospect, policyholder and agency information, helping us to deliver One Amerisure service more efficiently by eliminating the need for manual data management and enabling accurate, relevant and coordinated communications to our agency customers and current and prospective policyholders. The launch of the platform is planned for spring of 2022.
Customer Relationship Management
In 2021, development work began for the creation of the new Amerisure website. The Amerisure user experience team is partnering with the marketing team to create a digital experience that leads with the web user’s needs at the forefront. The new Amerisure.com offers efficient, self-serve options and guided support for policyholders during their insurance purchasing decision, as well as helpful resources for existing and future agency customers. The site also features an inside look at life at Amerisure for attracting top talent to our ranks. By extending our service specialties and partnership-driven approach to our digital interactions, we can augment our employees’ tasks and provide quicker and more transparent interactions with our customers.
New Amerisure.com
Claims Technology
RISK MANAGEMENT Technology
Of first-year participating policyholders received an up-front discount and a performance discount — average 7.5% of premium paid
100%
28.4%
Average Claims Reduction
13.7%
Average Claim Frequency Reduction
51.9%
Loss Ratio Reduction (averages calculated per policy)
Our risk management team piloted and launched several new technologies in 2021 to provide training capabilities and added hazard controls that support policyholders’ business goals while reducing risk. Through strategic partnerships with industry-leading technology companies, we’ve made access to these cutting-edge solutions an added benefit for many Amerisure policyholders.
Risk Management Technology
Connected Wearables & Apps
Kinetic devices use belt-mounted, upper arm, or phone applications used by workers while performing their jobs. The devices provide real-time feedback on movements, posture, location and biomechanics. The software generates data to help adjust unsafe movements, reducing ergonomic-related injuries.
Amerisure’s driver behavior-based commercial fleet telematics program provides real-time vehicle and operator information to help improve behaviors, minimize expenses and control loss severity. An electronic device installed in the vehicle delivers comprehensive reporting on factors such as location, speed, acceleration, braking, cornering and environmental conditions.
Commercial Auto Technologies
Our risk management expertise specialists provide focused support for agency and policyholder needs. The specialists serve as subject matter experts in their designated areas, including construction quality, heavy construction, commercial fleet, property, and healthcare. They provide credible knowledge and serve as an informed consultant, staying up to date with industry best practices. Policyholders can also ask questions and receive topic-specific assistance through WebRM, our new risk management support platform.
Risk Management Expertise Specialists
BACK TO TECHNOLOGY & INNOVATION (MAIN)
Amerisure’s claims team implemented several technological advancements in 2021 to help improve processes and outcomes, including partnering with insurtechs and utilizing improved digital systems.
Return to Work Analytics
CLAIMS Technology
In partnership with CLARA Analytics, Amerisure’s claims adjusters can minimize the impact worksite injuries have on policyholders and their employees. The usage of artificial intelligence technology helps to select the best local care providers available for a claimant’s specific injury. This allows all parties to win together with a faster recovery time and fewer missed workdays.
Virtual financial capabilities allow claimants to select how they would prefer to receive claims payments, including direct deposit, direct to card, mailed pre-paid card, or paper check. These options help to expedite the claims payment process to ensure money is received when it is most needed. Amerisure policyholders have access to an innovative tool for immediately submitting claims. The user-friendly digital first notice of loss interface automatically assigns a claim number within the system, shortening the process for our agency customers and policyholders and providing quick access to documentation. Fifteen percent of all claims were submitted via the portal in 2021.
Digital Payments & First Notice of Loss
Automation allows our claims team to analyze, interpret and transfer information more efficiently. The implementation of robotic information processing saves an average of nearly 20 hours of manual work per day, making a significant impact on our service delivery.
Robotic Process Automation
The integration of text messaging capabilities allows our claims adjusters to communicate with claimants quickly and easily. This enables Amerisure to deliver immediate claim status information and provide a digital means for claimants to ask questions and receive a prompt response.
Texting Communication
7 DAYS
Average Workers’ Compensation Cycle Time Reduction
3,929
Digital Payments Issued in 2021
52,544
Text Message Communications Exchanged in 2021
Partners For Success® Program
Click Here to Learn about Enterprise Agency Partners
Our Relationships Create Powerful Connections that Drive Mutual Success. Thank you to our Partners For Success® Agencies!
ONLY THE BEST!
DIAMOND
PLATINUM
PREMIER
PARTNER
Bowen, Miclette & Britt HUB International Midwest Insight Risk Management Mullis Newby Hurst Sterling Seacrest Pritchard Tucker Agency VTC Insurance Group Yates Insurance Agency
Brady, Chapman, Holland & Associates Brock Insurance Agency Charles L. Crane Agency Connor & Gallagher Insurance Services HUB International Mid-South LeBaron & Carroll McNish Group MJ Insurance Propel Insurance Agency – South Carolina Ralph C. Wilson Agency USI Insurance Services – Southfield
AssuredPartners of Indiana AssuredPartners of Missouri Brown & Brown Insurance – Arizona Clay & Land Insurance Cornerstone Insurance Group Crest Insurance Group David Chapman Agency Dimond Bros. Insurance Epic Insurance Midwest Gibson HNI Risk Services of Michigan Houchens Insurance Group Howey & Associates HUB International – Texas IBTX Risk Services Oswald Companies Propel Insurance Agency – Tennessee Rothschild Insurance Agency Saginaw Bay Underwriters Stephens Insurance The Buckner Company The Horton Group Truss Upshaw Insurance Agency USI Insurance Services – Phoenix USI Insurance Services – Terre Haute
AHT Insurance AssuredPartners - Great Plains Bateman, Gordon & Sands Berends Hendricks Stuit Agency Bowen, Miclette & Britt of Florida Braman Insurance Services Brown & Brown of Florida – Daytona Brown & Brown of Florida – Ft. Lauderdale Brown & Brown of Florida – Orlando Brown & Brown of Florida – Tampa BXS Insurance – Biloxi Catto & Catto CCIG Cobb Strecker Dunphy & Zimmermann Collinsworth, Alter, Fowler & French Construction Underwriters Cottingham & Butler Fisher Brown Bottrell Insurance – Mississippi Fisher Brown Bottrell Insurance – Florida Flood & Peterson Insurance Gulfshore Insurance HH Underwriters HMS Insurance Associates Holmes, Murphy & Associates Hotchkiss Insurance Agency HUB International Southeast – Carolinas Indaco Risk Advisors, Inc. Insurance by Ken Brown INSURICA K & S Insurance Agency Kapnick Insurance Group Kraus-Anderson Insurance Lassiter-Ware Insurance M. E. Wilson Company M3 Insurance Solutions Marsh Wortham Moody Insurance Agency Olson & Olson Insurance Services Propel Insurance Agency – Georgia Rich & Cartmill Scott Insurance – Virginia Seubert & Associates Silverstone Group Stahl & Associates Insurance Sterling Insurance Group TIS Insurance Services USI Insurance Services – Charlotte USI Insurance Services – Minneapolis Wallace, Welch & Willingham Weber Group Advisors
Minority Agency Partners
Agency services
We have established a minority-owned and led agency partnership group. Our vision for this group is to transform the insurance community by partnering with agencies to establish thriving business relationships that champion diversity, equity and inclusion.
Agency Services facilitates consulting, training and business solutions with third-party providers that accelerate the operational performance of our Partners For Success® (PFS) agencies. Solutions include strategic and operational planning, perpetuation planning, producer and account manager training, diversity, equity and inclusion (DEI) training, and other professional services. Agency Services transitioned from an all virtual to hybrid environment in 2021, sponsored unprecedented training programs, seminars, the Third Annual Women’s Power Conference, and a record number of new business appointments set within Amerisure’s appetite.
300+
Agency participants in talent development programs through Agency Services
1,500+
Continuing education credits earned by Amerisure Agents
Only the best agencies — industry experts that have proven success in the marketplace and uphold the values of our partnership — represent Amerisure. This exclusive approach is the foundation of our multi-tiered agency relationship program. We are committed to creating exceptional value for all of our agencies. To build upon our mutual success, and to serve our agency customers even better, in 2021 we conducted a thoughtful restructuring of our agency program. The evolution of the program will enhance our partnership strategy to be more conscientious of, and effectively responsive to, the changing needs of our agency customers. As customers of Amerisure, Partners For Success® (PFS) agencies have access to industry-leading benefits and resources to support their service model and business development, the One Amerisure service that is our world-class service experience model, and specialized industry products. Through these powerful connections, we provide our PFS agencies with the tools needed to develop long-term policyholder relationships, grow profitably, and together, we achieve mutual success.
VIEW AGENCY LINEUP
Enterprise Partnerships recognize an organizational commitment to profitable growth with Amerisure. As agencies become larger and more complex at an accelerating pace, we are prepared and energized to take on new opportunities that support our mutual success. When our agency customers succeed, we succeed — in this way, we continue to win together.
J. W. Terrill Missouri Lovitt & Touchè Arizona
Assurance Agency Illinois Bouchard Insurance Florida MMA Southwest Texas
Ironwood Insurance Services Georgia
INSPRO Nebraska J. Smith Lanier & Co. Alabama, Georgia, Kentucky and Tennessee Mid-Atlantic North Carolina, Virginia and Maryland Upper Midwest Minnesota and Wisconsin
Georgia South Carolina
Alabama Arkansas Florida Indiana Kentucky Maryland Mississippi North Carolina Tennessee Texas Virginia
Michigan
Kentucky
Illinois Utah
Click below to view the agency lineups.
BACK TO PFS (MAIN)
We prioritize professional development and continuing education to support our employees as industry-leading specialists. Our learning management system, Accelerating Professional Expertise (APEX), is an innovative platform built specifically to accelerate professional growth. APEX provides easy access to on-demand courses; comprehensive training and curriculums; instructor-led training; learning paths for specific career tracks; complimentary educational audiobooks and resources; and much more. These learning opportunities support our employees in developing their skillsets to provide exceptional service to agency customers and policyholders. Notable to our 2021 employee engagement in APEX:
Learning & Development — Enhancing Our Team’s Expertise
APEX Training
18,024
Unique employee logins
7,033
Online learning activities completed
3,316
Participants of 125 instructor-led sessions
320
New online learning activities and resources
Employee Recognition
Our online reward and recognition platform allows employees to celebrate each other for actions that move the company forward — such as living our values — or to thank a colleague for a job well done. Departments and teammates across the company continued to be highly engaged with BE Amerisure in 2021, which also highlights top performers on a leaderboard and shares notable work anniversaries.
BE Amerisure
We are proud to support our employees through continued recognition. Our Champions and BE Amerisure programs aim to spotlight the unique skills and exceptional contributions of our team.
Amerisure’s employees are our most valuable asset and what truly sets us apart in the insurance industry. The success of our organization is made possible by the unique skillsets and contributions of our people, who give life to the service culture we value so deeply. Each day, our skilled employees help us win together with agency customers and policyholders.
Expert Employees Providing Best-in-Class Service
Talent Acquisition
We are committed to the development and engagement of our employees. As a testament to the strength of this focus and our collaborative team culture, we were proud to be recognized once again as an award-winning workplace. Accolades included the Best & Brightest Companies to Work For® in the Nation, in Metro Detroit, and Atlanta, as well as a Best Place to Work in Insurance for the 10th consecutive year.
Award-Winning Workplace
Our focus on recruiting and retaining top talent ensures that we are able to continuously deliver exceptional service. Notable to our workforce development in 2021:
98
New Employees
692
Employees as of 12/31/2021
11.7 years
Average Employee Tenure
To support our employees’ physical, social & emotional, professional, community and financial well-being, especially in times of unexpected change, we provided helpful tools and resources in 2021, including a comprehensive benefits fair, and recommendations for exercise, healthy eating, meditation, and taking time to focus on self-care.
BE WELL 360°
Employee Benefits
Last year, Amerisure proudly launched the [BE] A Mentor program — aimed to help new hires in their early days at Amerisure by pairing them with a tenured employee as a “buddy.” This program supports a better onboarding experience by engaging new hires in a professional relationship that provides institutional knowledge and guidance in their initial day-to-day experiences. Feedback on the program was overwhelmingly positive from new employees and mentors.
[BE] A Mentor Program
“I have very much enjoyed mentoring a new employee…we have met for lunch, and we’ve talked over email and Zoom often. I have made a new friend and can’t wait to hear more from her in the future. I am looking forward to another opportunity to mentor a new employee again.”
“My mentor has met with me several times since my start date and has provided helpful guidance, insights and training on our products, systems and values. He always answers my questions and has been very present and engaging. This has been a bright spot in my onboarding experience!”
EMPLOYEE RECOGNITION
APEX
TALENT ACQUISITION
EMPLOYEE BENEFITS
Supporting Our Communities
As an active member in nonprofit organizations and on boards and committees, Jennifer DeMello-Johnson, Amerisure vice president of Agency Services, is highly engaged in efforts to give back to the communities in which we work and live. Boys & Girls Clubs of Southeastern Michigan Jennifer was elected in 2021 and currently serves as the first female minority Board Chair for the Boys & Girls Clubs of Southeastern Michigan. Jennifer was instrumental in the launch of Amerisure’s first Risk Management Industry Club, together with the active involvement of Amerisure employees, PFS agencies, and Olivet College. This Industry Club introduces underserved youth in Southeastern Michigan to careers and opportunities in the insurance industry and has resulted in full college scholarships and summer internships for several participants. Amerisure Women’s Conference Jennifer served as the facilitator and a key presenter at Amerisure’s Third Annual Women’s Power Conference in 2021, which together with Amerisure’s partner agencies included insightful and innovative discussions on accelerating the growth of our industry and featured a workshop exclusively focused on diversity, equity and inclusion.
Community Leadership Spotlight: Jennifer DeMello-Johnson
Shepherd Center (Atlanta)
Life Remodeled (Detroit)
Amerisure Scholarship Program
Matching Gift Program
IICF Southeast’s Week of Giving (Dallas)
Making a lasting and positive impact is a significant part of our culture. Amerisure employees donate extensive time and resources to causes they are passionate about, and the company matches employee contributions to a range of charities, sponsors outreach efforts, and supports nonprofit organizations through the Amerisure Charitable Foundation. Our goal is to enhance the lives of people in the communities where our employees, board members, Partners For Success® (PFS) agencies and policyholders live and work. By looking out for each other, we all win together. We are proud of our total contributions for 2021, which included support of our leading partnerships:
Our contribution program matches each regular full-time employees’ qualified donations up to $1,000 per year. Eligible organizations include nonprofits that enhance the economic or social environment in communities where employees, Partners For Success® agencies and policyholders reside. This can include colleges, foundations, community groups, culture and the arts, health and human services, and industry associations — and it offers an opportunity to double the impact of our employees’ efforts.
Five children of Amerisure employees were awarded $1,000 each through the Amerisure Scholarship Program. Each student was selected based on their outstanding academic achievements. Administered through Scholarship America, the annual program provides support to Amerisure employees for the costs associated with student post-secondary undergraduate education, including tuition, fees, books, supplies and equipment.
$5,000
Student Scholarship Funds Awarded in 2021
Amerisure’s efforts to give back to our communities extend to all of our locations. In November, employees from our Dallas Core Service Center joined The Insurance Industry Charitable Foundation (IICF) Southeast Division in an effort to honor fallen soldiers and their families by washing headstones and sprucing up the grounds of the Dallas-Fort Worth National Cemetery, home to 460,000 veterans.
In October, several Amerisure employees joined the nonprofit organization Life Remodeled to help combat blight in the city of Detroit. As part of Life Remodeled’s Six Day Project, Amerisure’s team leaders and volunteers focused on clearing vacant properties, contributing to safer and more beautiful streets for families to live, play and walk to school and other community activities.
Giving Back
Boys & Girls Clubs of Southeastern Michigan (Jennifer DeMello-Johnson, Amerisure vice president of Agency Services, serves as Board chair) Insurance Industry Charitable Foundation (Jessica Soufrine, Amerisure vice president, field marketing & underwriting, and Ben Nichols, Amerisure regional vice president, field marketing & underwriting, serve as Board members) Junior Achievement of Southeastern Michigan (Chris Spaude, Amerisure chief financial officer, serves as Board member) Special Olympics Michigan (Todd Ruthruff, Amerisure chief strategy officer, serves as Finance Chair, Executive Committee member and Board member)
$558,000
Contributions to Nonprofit Organizations in 2021
WATCH: Amerisure Third Annual Women’s Conference Highlights
Amerisure is committed to activities that enhance our brand, our culture and the communities where we live and work. PROFESSIONAL ATHLETE SPONSORSHIP — JJ SPAUN J.J. Spaun, a professional golfer, is an Amerisure-sponsored athlete who has had an exciting career journey. In 2016, he received the Northern Trust Open Exemption, a recognition awarded to top minority golfers who “represent the diversity of golf.” He then won the 2016 Web.com News Sentinel Open. In 2022, Spaun rallied from a double bogey start in the final round at the Valero Texas Open in San Antonio, Texas, winding up with his first PGA TOUR victory by two shots and an invitation to the Masters. The year 2022 marks Spaun’s third PGA TOUR season as an Amerisure-sponsored athlete. EVENT SPONSORSHIP — ROCKET MORTGAGE CLASSIC Amerisure has been a key sponsor of the PGA TOUR’s Detroit-based Rocket Mortgage Classic since 2019. Since then, the company has made a significant investment in the brand experience each year. The 2021 event, which took place at the Detroit Golf Club in July, allowed Amerisure employees and field teams to connect with several Partners For Success® agency customers and policyholders in a fun, relationship-building environment. In addition to being a community-focused event with the goal of bridging the digital divide for children and families in Southeastern Michigan that do not have access to technology, the Rocket Mortgage Classic has also won a number of awards, including the PGA TOUR’s best special event award and diversity and inclusion award.
Corporate Sponsorships
Shepherd Center is a nonprofit hospital specializing in medical treatment, research and rehabilitation for people with spinal cord injuries, brain injuries, stroke, multiple sclerosis, spine and chronic pain, and other neuromuscular conditions. Amerisure and the Shepherd Center have had a longstanding relationship in which we provide support through our employees, board participation and through the Amerisure Charitable Foundation.
Community Leadership Spotlight
Agile Practice Group
Virtual Town Halls
FreshService Help Desk
Remote Technology
As 2021 saw a continuation of the COVID-19 pandemic, we’re proud of how diligently our employees worked to make the best of the frequent changes. It also provided Amerisure a unique opportunity to further enhance its technological capabilities and develop a hybrid work environment for the future.
Through Innovation & Flexibility
Agility, a framework and mindset that focuses on outcomes, remains crucial at Amerisure. To bring agility to Amerisure in a thoughtful and deliberate manner, an Agile Practice Group was formed in recent years to facilitate the progression of integrating agility within the company. The team has included several leaders across departments, enabling diversity in thought and creative thinking. We added Agility as an Amerisure Value in 2020 and launched numerous successful initiatives and projects related to agility in 2021, including: companywide training sessions to explain and encourage everyday agility for all employees; sharing resources with employees on key project methodologies; the launch of an internal Operational Performance Management analytics tool to share data on surplus, direct written premium, and accident-year claims; and support of the hybrid work environment with best practices to create and maintain agility across departments. A third-party survey was conducted with Amerisure employees in the summer of 2021 focused on the progress we’re making toward our agile goals. Results of the survey were very positive and indicated that Amerisure is seeing improvement at all levels of employee engagement with business agility.
COVID-19 Pandemic Response
Amerisure continued to closely monitor the COVID-19 situation and provided employees with up-to-date guidance and protocols in keeping with requirements from the Centers for Disease Control and Prevention (CDC) as well as local and national government mandates. These protocols included: in-office mask guidelines, vaccination guidance and resources; enhanced safety measures in the office, such as air filtration systems, hand sanitizer, and desk cleaning supplies; conference room occupancy limits, adjustments to building services and amenities for employee safety; and continued social distancing.
Supporting Our Employees
The leveraging of digital platforms allows for greater collaboration, sharing of information and communication regardless of physical location. Synced with remote employee laptops, in 2021, Amerisure created a menu of available virtual and digital tools to meet various business needs, paired with the utilization of Microsoft Teams, Zoom, BlueJeans, and other collaborative applications.
In the summer of 2021, Amerisure’s Information Technology (IT) team introduced an exciting change to the way the service desk is contacted for questions, issues, and requests. FreshService, a cloud-based service management solution, allows for a more efficient way to obtain assistance from IT and provides great new benefits, such as: the ability to open a service ticket via the web portal or mobile device; functionality to view the ticket status and assignment; and knowledge-based articles that can allow faster problem solving through employee self-troubleshooting and resolution, enabling more time to focus on superior service.
Amerisure continued to leverage the successful methodology of meeting virtually to conduct all-employee events in 2021, such as town halls and department or topic-based broadcasts. In more than a dozen live productions and videos created over the course of the year, leaders from Amerisure addressed the company to provide updates on important topics such as the state of our operations, partnerships, remote work policies, product/service enhancements, and more.
Amerisure’s Case Study published in Novarica’s 8th Annual Best Practices Case Study Compendium
Flexible Workforce Model
To balance in-person collaboration with the needs of our employees, Amerisure carefully assessed the future state of our work environment in 2021. The hybrid work structure offers employees a more flexible work arrangement and is intentionally and equally inclusive of remote and onsite employees. Amerisure’s Agile Practice Group and key leaders met frequently over the course of the year to evaluate, discuss and prepare for 2022’s hybrid work environment to ensure it will maintain the company’s culture, create synergy across departments, and promote employee creativity. Key components for the hybrid work environment were determined and implemented, including team working agreements and new tools and platforms to enhance workforce agility. We’re confident this new era of hybrid work will allow us to continue delivering on our service promise and win together while enabling employees to enjoy increased work/life balance.
Diversity, Equity & Inclusion
At Amerisure, we strive to build and foster a diverse workplace through the attraction and retention of expert employees who share their varied talents, backgrounds, and experiences for our mutual success. We also work to cultivate an inclusive community that is open and receptive to new ideas, leverages diverse perspectives, and fosters collaboration and creativity to drive superior business outcomes. For us, diversity, equity and inclusion (DEI) is more than a program or initiative. We know that when employees are comfortable bringing their authentic selves to work, we can deliver on our vision of being an industry-leading specialist, taking strides to win together with agencies and policyholders.
Jennifer Brown Consulting Partnership
Amerisure remains committed to fostering a diverse, equitable and inclusive workplace in which all employees feel deeply valued and uniquely respected. In 2021, Amerisure announced a collaborative partnership with Jennifer Brown Consulting (JBC) to grow and enhance the company’s DEI initiatives and roadmap. JBC is a women-owned, LGBT-certified consulting firm with more than 16 years of experience working with companies across industries, including Fortune 1,000 organizations, nonprofits and startups. Their key focus areas include DEI assessments and strategies; workshops and keynotes; resource groups and summits; and coaching.
The partnership with JBC allows Amerisure to take our DEI roadmap to the next level, and the perspective of our employees is a crucial part of this process. In the second half of 2021, JBC and Amerisure conducted an employee inclusion and culture survey. The survey invited employees to share honest and candid feedback as it relates to diversity, equity, and inclusion at Amerisure.
Employee Survey
In October, JBC held employee focus groups to gain insight about personal experiences with DEI at Amerisure. The survey and focus group data are being leveraged to support us in moving toward being a more diverse, equitable and inclusive organization. The data collected from the survey and focus groups will be used to create an enhanced DEI roadmap that will be rolled out in 2022.
Focus Groups
To promote and celebrate diversity, equity and inclusion, Amerisure created its DEI Ambassador Program in 2020, which continued to grow and flourish in 2021. Members collaborate closely with leadership to bring unique perspectives, generate ideas and formulate plans and activities for fostering a more diverse and inclusive environment.
DEI Ambassador Program
Amerisure hosted two virtual broadcasts dedicated to DEI in 2021. During the live broadcasts, employees heard from Amerisure leaders and DEI Ambassadors on several relevant and timely topics, including updates on DEI initiatives for the year.
Town Hall Broadcast
The DEI team launched discussions in which employees can have online conversations about interesting topics to help get to know each other better — both in terms of what makes them unique and what they have in common. Each month, employees were invited to read an article or book, watch and discuss a film, or respond to a thoughtful DEI-related discussion question. Topics included cultural diversity as well as diversity of thought, such as the unique perspectives both introverts and extroverts bring to the workplace.
DEI Discussions
In the spirit of celebrating diversity through music, DEI Ambassadors shared diverse playlists throughout the year to be enjoyed by employees through the Spotify music streaming service.
Celebrating Diversity Through Music
In June, fourteen DEI Ambassadors completed a seven-week certificate program offered by the University of South Florida Muma College of Business. The sessions focused on how organizations can address equity issues and foster inclusivity. More than 125,000 people from across the country participated in the program, allowing Amerisure’s DEI Ambassadors to see firsthand how other businesses are creating their own diverse workplaces.
Certification Program
Amerisure’s DEI Ambassadors were pleased to share information about various cultures and populations through commemorations and celebrations in 2021. Each month, the group shared an extensive list of diverse holidays to help Amerisure employees learn about and celebrate the cultures that surround us year-round.
Year-Round Cultural Calendar
The month of April provided employees a unique opportunity to participate, discuss, listen, and learn by engaging in the Month of Understanding. Typically recognized as the Days of Understanding, Amerisure extended this series of events to create additional opportunities to educate and support inclusivity in the workplace. Learning opportunities included interactive workshops, self-guided courses, social community learning talks, and virtual museum tours.
Month of Understanding
Amerisure is proud to partner with the following diversity-focused organizations.
Our DEI Association Partnerships
Independent Insurance Agents & Brokers of America (IIABA)
National African American Insurance Association (NAAIA)
Michigan Council of Women in Technology (MCWT)
Women in Insurance and Financial Services (WIFS)
Black Data Processing Associates (BDPA)
NEXT
BACK
2021 CHAMPIONS
Bryant Ackerman
Business Development Specialist
Indianapolis
Egon Brown
Claims Vendor Management Manager
Dallas
Tony Burbank
Director, Corporate Services & Purchasing
Farmington Hills
Wendy Burchell
Underwriting Communications & Training Specialist
Joel Cartwright
Senior Financial Analyst
Alivia Cooper
Claims Customer Analytics Specialist
Tampa
Patricia Dillinger
Claims Specialist
Kim Desjardine
Claims Experience Manager
Chicago
Phillip Evans
Technical Underwriting Specialist
St. Louis
Elizabeth Johnson
Operations Program Director
Tanya Kaniewski
Investment Analyst
Kerri Friederich
Senior Workers’ Compensation Major Case Unit Technical Claims Specialist
Jimmy Glahn
Field Marketing & Underwriting Analytics Director
Charlotte
Jeremy Horning
Systems Analyst
Shannon King
Risk Management Expertise Specialist
Atlanta
Jessica Kuehls
Organizational Development & Training Specialist
Steve Sanchez
Senior Application Developer
Hannah Shiman
Marketing Underwriting Specialist
Eric Pach
Control Assessment Lead
Maria Perkins
Credit Risk Analyst
Blaze Rodriguez
Business Development Manager
Phoenix
Vickie Smith
Administrative Assistant
Lori Tobis
Senior Coverage Counsel and Litigation Manager
Tarik Williams
Premium Audit Specialist
Cari Zinn
Senior Marketing & Communications Specialist
CONGRATULATIONS TO OUR 2020 CHAMPIONS!
Every year, Amerisure’s Champions program recognizes and rewards employees for their outstanding contributions through a rigorous nomination and selection process. This special acknowledgement reinforces the important role our values play in allowing us to win together with our agencies, policyholders and each other. Our 2020 Champions were recognized in 2021 for performing at a high level, demonstrating expertise, a commitment to an industry-leading insurance experience, and living Amerisure’s values in all they do.
Financials
Amerisure’s balance sheet is strong, conservative and continues to grow. The asset base grew 3.2% in 2021, with assets approaching $3.2 billion. This includes a high-quality and diversified investment portfolio of $2.7 billion. We maintained the strongest level of risk-adjusted capitalization as measured by AM Best’s Capital Adequacy Ratio (BCAR) scores at the 99.6% level. Amerisure reached two settlements in 2021 on disputed recoveries relating to Amerisure’s legacy asbestos exposures, which further strengthens our balance sheet. As a mutual insurance organization, Amerisure is committed to contributing to surplus each year. In 2021, strong growth of 9% added $97 million to our surplus position, which is approaching $1.2 billion. Our premium grew to $770 million in 2021. This includes $117 million of new business, our highest since 2010. The calendar year combined ratio of 103.3% is a slight deterioration over the prior year; however, it is flat when excluding the legacy asbestos settlements and investment in core system technology. The calendar year results included $16 million of favorable prior-year reserve development, which includes $24 million from our core lines of business offset by $8 million related to the asbestos settlements. The accident year loss and allocated loss adjustment expense ratio deteriorated by one point over the prior year, driven by an uptick in the commercial auto loss ratio. The accident year combined ratio of 105.6% was also impacted by an increase in the unallocated loss adjusting expense ratio. Workers’ Compensation remained the largest line of business and produced an accident year net loss and allocated loss adjustment expense ratio around 64%, remaining consistent with prior-year results. Amerisure produced a net income of $72 million and an operating ratio of 91.8%, which was nearly level with the prior year. The improvement in operating results in both 2020 and 2021, as well as consecutive years of favorable prior-year reserve development, were the driving factors behind the stable outlook attached to our “A” rating from AM Best. Investment yields remained solid as the depressed interest rate environment continued. Net investment income was $82.5 million, an increase of 8% over the prior year. Net realized and unrealized gains totaled $57 million for the year.
CLICK HERE TO VIEW FINANCIAL BALANCE SHEET
The condensed statutory-basis financial statements presented herein were derived from the combined financial statements of Amerisure Mutual Insurance Company, Amerisure Insurance Company and Amerisure Partners Insurance Company for the year ending December 31, 2021, which were audited in accordance with auditing standards generally accepted in the United States of America. The full statutory-basis financial statements of the Amerisure Mutual Insurance Company (a stock insurer) and report of the independent auditors that expressed an unqualified opinion, are available upon request.
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BALANCE SHEET STRENGTH
SURPLUS
OPERATING RESULTS
INVESTMENT PERFORMANCE
$72M
Net Income
A (Excellent)
AM Best Rating
$770M
Direct Written Premium
$1.2B
Surplus
Board & Leadership team
KAREN BATCHELOR (1998) Consultant Certified Professional Coach and Genealogist Detroit, Michigan JAMES P. BRANNEN (2020) Retired CEO FBL Financial Group, Inc. Panora, Iowa GREGORY J. CRABB (2015) President and CEO Amerisure Insurance Companies Farmington Hills, Michigan DAVID C. DAUCH (2014) Chairman and CEO American Axle Manufacturing Detroit, Michigan PHILLIP E. LOVE, JR. (2009) Retired Chairman South Carolina Farm Bureau Insurance Company Cayce, South Carolina DAVID E. MEADOR (2017) Retired Vice Chairman and CAO DTE Energy Detroit, Michigan PATRICIA E. MOORADIAN (2018) President and CEO The Henry Ford Dearborn, Michigan GREGORY MORRISON (2021) Retired CIO and SVP Cox Enterprises Atlanta, Georgia JAMES M. NICHOLSON (2014) Chairman PVS Chemicals, Inc. Detroit, Michigan
BOARD OF DIRECTORS (AS OF APRIL 2022)
CORPORATE MANAGEMENT (AS OF APRIL 2022)
GREGORY J. CRABB President and Chief Executive Officer Amjed Al-Zoubi Chief Information Officer Shannon Anderson Alt Vice President, General Counsel & Corporate Secretary Barbara J. Cristea Vice President, Internal Audit STEVEN DONNELLY Chief Claims Officer DANIEL J. GRAF Chief Investment Officer ANGELA M. McBRIDE Chief Operating Officer Todd B. Ruthruff Chief Strategy Officer Chris M. Spaude Chief Financial Officer and Treasurer
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CONTRIBUTING tO FINANCIAL STRENGTH
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