First Quarter 2003
Leading By Listening
Ken's Corner
Ken Lauber is Vice President of Field Operations at Texas Mutual Insurance Company.
How did Texas Mutual Insurance Company become the state’s leading provider of workers’ compensation insurance? By listening.
Read our cover story on the 2003 ad campaign. When agents told us that we needed to improve name recognition among Texas employers, we listened. Based on your feedback, we’re taking our message directly to Texas employers through strategically placed radio and print messages to help you spread the word about our value-added services.
We listened to agents and policyholders when they talked about brand loyalty. Last year, we earned an impressive 81 percent policyholder retention rate. Many of these loyal policyholders received a Texas MutualSM general dividend to reward them for their low claim losses that helped contribute to our success. Some also received part of the $466,669 in group dividends we gave to Texas MutualSM Safety Groups. In fact, 2002 was our biggest year to date for group dividends.
We also listened and responded to our customers’ concerns about rising costs in the workers’ comp system. We have always taken an active role in managing health care costs, and our new pharmacy benefit management system will continue that tradition. We believe our relationship with ScripNet will also serve as a key selling point to your clients.
Finally, we listened to the Legislature, and we work to educate agents and employers about state laws and regulations. For example, §406.007 of the Texas Labor Code requires your clients to send a written notice to the Texas Workers’ Compensation Commission (TWCC) when they terminate their coverage. They must send the notice to TWCC by certified mail no later than 10 days after the client notifies the carrier of the cancellation. If they fail to send the notice, they will continue to owe premiums to the carrier. In March, we issued a FactsLine reminding agents of this requirement.
Looking ahead, we will continue to listen to agents and policyholders to ensure that we’re providing top-tier workers’ comp coverage. We appreciate your business, and we look forward to continued mutual success.