 A Message From the President
Welcome to this inaugural edition of our new electronic newsletter – Broker Update Online. It is one of several initiatives my management team and I have introduced to make it easier to do business with State Fund. We have brought fresh perspectives and new ideas to an organization that was ready for new leadership. And now, just over a year and half after I was hired, I am pleased to report State Fund is transforming into a more efficient, customer focused company.
Let me take a minute to highlight some of our recent history. Change started from the top. In addition to my joining the organization as the first “outside” CEO in State Fund’s, I also was able to add to our executive ranks through legislation. We were able to bring five other industry professionals to buttress our executive team. These leaders brought immediate, deep functional expertise into the organization.
We’ve flattened out our field organizational structure to put more authority in the field. Regional vice presidents oversee each of six regions. I wanted to make sure State Fund has decision makers in the field, close to our brokers and customers. These State Fund executives and their management teams have broad authorities to represent the firm. They along with their management teams are active member of your community, and keenly interested in the particular needs and priorities in your region. You will hear more from your regional vice president in this newsletter.
But one aspect of State Fund has not changed: Our financial stability and security. In 2008 we wrote $1.7 billion in premiums. We have a strong policyholder surplus position of $5.1 billion, which represents an improvement of approximately 3.7% over the prior year. Our cash and investment portfolio is valued at $20.4 billion. We produced these results in one of the most challenging times in many years. As we move forward you can be assured State Fund will remain financially stable and secure—a necessary and vital resource for California businesses and workers.
Please enjoy the rest of this issue of Broker Update Online. I look forward to more opportunities to keep in conversation with you, and to let you know more good news as it develops. Thank you for doing business with State Fund. We appreciate our partnership with you. Thanks also to those of you who wrote to me about the article in the Wall Street Journal. The new State Fund is becoming better recognized as a leading organization in the developing US public-private financial industry.
-Jan Frank
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Take a Fresh Look at State Fund
State Fund President Jan Frank and her executive team have introduced a number of changes to make it easier to work with brokers and customers. In addition to flattening out the organization, we have made major improvements in our sales and servicing areas. You will be hearing about these in more detail along with some major technology improvements in newsletters later this year.
Please take a fresh look at State Fund. We are changing. Our claims product is better than ever. We’ve lowered case loads for our claims adjusters so they can provide better and faster service to your clients. Our claims managers average 22 years of industry experience. Many of the dedicated and caring folks you’ve come to know over the years with us devote their entire careers with State Fund. In 2008 we achieved a 98% certification rate for our adjusters, making our percentage of certified adjusters among of the highest in the industry. We offer comprehensive claims management services including fraud investigative liaisons, return to work coordinators, and claims liaisons.
Our safety and loss control commitment to employers of all sizes is well known. State Fund’s Employer Education Series provides seminars on a variety safety and insurance topics throughout the state. April kicks off a series of seminars held in locations all over California on preventing heat illness. Just in time for the warmer weather, we help your clients prepare for the upcoming season, and learn about regulations and strategies designed to prevent deadly heat illness. Check our safety page on our website scif.com for a list of more free State Fund Employer Education Series seminars near you.
You also know we are one of the few insurers that can handle all of your California worker’s compensation business needs, for the large and small employer, the start-up company or the employer trying to improve an adverse loss history. And because we control our entire service line—from claims management to our robust safety services that include industrial hygiene and ergonomics specialties—we can provide those services to all your customers. We want to be your partner in securing, keeping, and serving your clients.
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State Fund Online: A Valuable Sales Tool
State Fund Online is a powerful tool for our broker partners. If you are already using State Fund Online you know that it puts policy, claims, and commission information for your entire book at your fingertips. This robust resource can save you time and it also makes it easier to deliver outstanding service to your clients. State Fund Online offers:
- Claims access.
- Online submissions.
- Certificate production.
- Payroll reports.
- Loss control reports.
- Electronic mail.
- And much more!
What you might not know is that you can make State Fund Online available to your State Fund policyholders. Complete online policy information can be an important incentive in a sales pitch to new clients, or as a way to enhance your renewal percentage with State Fund. When policyholders are registered with State Fund Online they can:
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- Get accurate, up-to-date answers to their policy and claim questions.
- View and print payroll reports, certificates of insurance, and more.
- Track claims and injury trends.
- Submit electronic payroll reports and bill payments online.
- Receive policy documents securely.
- Create customized safety programs.
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Registration is fast and easy. Direct your clients to our website, www.statefundca.com. In the lower right hand corner, under “First-Time User?” have them click on “Register Here”, and follow the simple directions.
By sharing the advantages of State Fund Online with your clients, you offer another useful and time saving resource they will appreciate.
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Coming Soon: Online Renewals
State Fund is committed to make doing business with us faster and easier: To that end, Online Submissions debuted last October, and coming soon will be Streamlined Renewals.
Like the name implies, Streamlined Renewals will streamline the renewal process by making renewal information available online. You will be able to:
- View and manage your upcoming renewals online
- Update and submit information electronically
There are many advantages to processing your renewals online. Among them:
- Enjoy direct access and a simplified, faster exchange of information.
- Organize and manage your book of business, and quickly identify the status of your renewals.
- Save the environment by using less paper, postage and other resources.
We have taken special care to create a system that is secure and easy to use, as with everything that makes up State Fund Online.
Streamlined Renewals will complement the other online products that are already available to you on State Fund Online, including:
- Access to policy information
- Access claims information
- Certificate of insurance production
- Payroll reporting/bill paying
- Online submissions
If you are a State Fund broker and are not yet taking advantage of our online products, please contact us at (800) 834-2393 to obtain your user ID and password.
Watch for more information coming soon about Streamlined Renewals.
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Broker of Record
State Fund has regionalized our Broker of Record staff to streamline processing of your Broker of Record requests. Aligning Broker of Record locations with regional underwriting management allows us to continue to provide consistent and equitable broker of record services to our business partners.
Effective immediately, please send all Broker of Record correspondence to your servicing location provided on the following list: www.statefundca/broker/BORcontactList.asp.
Broker of Record letters and/or submissions must be sent to a designated State Fund Office postal address, email address or fax number for Broker of Record letter and/or submission or they are not considered received by State Fund.
As a reminder, please do not attach Broker of Record letters to your online submissions. For general information on Broker of Record contacts or how to establish a business relationship with State Fund, call us at (800) 834-2393.
For additional Broker of Record Tips: www.statefundca/broker/TipsBOR.asp.
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