Frankenmuth Mutual Insurance Company
www.fmins.com
1 Mutual Ave.
Frankenmuth , MI 48787-0001
Contact: Craig Alarie
Phone: (800) 234-1133
FAX: (989) 652-0227
Craig.alarie@ffgrp.com
Percent of business in Illinois by line:
Commercial: 100%
Premium Volume: $25,000,000
Are you currently appointing new agents? Yes
What type of agency is your company looking for? Independent agents in need of a strong regional, commercial lines carrier that is relationship driven, provides franchise value, outstanding profit sharing and top end service and automation. Our typical agency profile is $3-$20 million in overall premium volume with 60% of an agencies volume in standard commercial lines. Our average agency is 1.3 million in premium volume.
What are your premium volume requirements? (In profit sharing?) $300,000 first year and $1 million in 3 years, which tracks with reaching our preferred agency status. Profit sharing volume requirements are $100,000 first year. This increases $100,000 per year and levels off at $500,000 for agents that have been contracted for 5 years or more.
Are you currently doing any niche-marketing program? We offer commercial group programs that can be tailored to any spceial group needs.
What is your company’s most aggressive line of business? We stress diversity in our business based on line and class of business.
Do you use credit scoring? We do not credit score our commercial business, however credit is one tool that may be reviewed in the underwriting process.
What methods do you use to distribute your insurance products? Independent agents
What do you think makes your company different, or stand out from all the rest in Illinois ? Why would an agent want to contract with your company? relationship driven, franchise value, relationship driven, unparrelled service standards, relationship driven, outstanding profit sharing program, relationship driven, open communication across all levels of the company, relationship driven, A+ AM Best, relationship driven, field managers have full underwriting authority, relationship driven.
If we had agents agree to sell homeowners policies with actual cash value endorsements, would you write more business in southern Illinois ? We do not write personal lines in Illinois
Please list your Marketing Representatives and the territory they cover:
Tom Masecar - State of Illinois
Terri Thielman - State of Illinois
Do you plan on retaining your current profit sharing agreements? Yes, we introduced an enhanced agreement for our top agency calssifications as of 1/1/05 .
Do you offer the ability for agents to integrate third-party reports into their comparative rating process? No
If not, do you have plans to do so? Please list estimated timeframe of when this capability will be available for Illinois agents? We write commercial business only. Any credit, MVR or other reports are ordered by us.
Do you offer single-entry new business upload from either comparative raters and/or management systems? Yes
If yes, what vendors? Transformation Station/Applied
What is your current real-time rating strategy? All of our lines of business are rated, underwritten and issued via iBIS system. We are pursuing quick quoting through transformation station as an enhancement to our bridging process
Do you provide an agent facing website for your agent’s reference? Yes
Do you offer the ability to quote and/or issue new business? Yes
Which lines? All commercial lines
Can the transaction be bound online? Yes
Can your agents service in-force policies? Yes
Which lines? All commercial lines
Describe the service transactions available. Policy & claims inquiry, endorsement processing, payments, loss reporting, all new and renewal business transactions, rule, rate and agency manuals, agency production reports, commission statements. We offer upload and download and are paperless with our agents. Online policy declarations.
Do you publish agent manuals and policy forms on-line? Yes
Do you have upload? Yes
Which lines? All commercial lines
Do you support policy download? Yes
Which lines? All commercial lines
Do you support direct bill commission statement download? Yes
Which agency management systems do you work with? Applied, AMS, Doris , InStar, SIS, NASA
Do you support real time service for inquiry? Yes
Which lines? All commercial lines
Claims? Yes
Billing? Yes
Do you have real time endorsement capabilities? Yes
Which lines? All commercial lines
Do you support either Transformation Station, Transact Now or other technologies? Transformation Station, Transact Now in development
Is this technology available today? Yes
Please outline the top 3 technology initiatives your company will be implementing to benefit agency workflows, and describe how these initiatives will benefit the agency.
1. We have in excess of 50 technology, enhancement projects underrway, many of which are geared to streamlining and benefiting agency workflows.