December 10, 2020

Highlighting our continued commitment to our customers this past year

2020 Year in review

Our mission at Texas Mutual has always been to build a stronger, safer Texas and that mission has never been more important than this past year. As we continue navigating the COVID-19 pandemic, one thing at Texas Mutual has remained the same - our commitment to our customers. Our nearly 1,000 employees seamlessly transitioned to conducting business virtually to support over 8,000 agents, more than 70,000 employers and 1.5 million hard-working Texans. As the year winds down, we want to share highlights that reflect how we’ve supported our customers and our work toward making our state a better place to live and work in 2020.

TXM for Texas

At the heart of our community program is taking care of Texans. Through TXM for Texas, we have stepped up to help communities across the state. In addition to other philanthropic initiatives, Texas Mutual has delivered over $4 million in grant funding to help with COVID-19 relief and recovery, address community issues as a result of the pandemic and support workforce development.

$4 million in COVID-19 grant funding for nonprofits and organizations in the fight against COVID-19

When the pandemic reached Texas in March, we committed $2 million to 47 organizations across Texas that are vital to COVID-19 relief and recovery, including food banks and other organizations on the frontlines. We completed our delivery of these grants in May.

Texas Mutual also delivered $2 million in grants to several organizations across the state to help address community issues as a result of the pandemic. Funding is helping address health care disparities, support essential workers as they continue to provide critical services, improve childcare systems and more. Organizations include The University of Texas at Austin Dell Medical School, United Way for Greater Austin and Paso Del Norte Health Foundation.

Solving economic issues

We are also supporting organizations that are strengthening the Texas workforce in their regions. Workforce development grants went to several organizations throughout Texas, including Workforce Solutions Capital Area, Texas State Technical College and Educate Texas.

Generational learning

This year, we awarded $213,643 in scholarships to 32 students. The Texas Mutual scholarship program, exclusive to injured employees of a Texas Mutual policyholder or their dependents, offers support through education and opportunity.

Disaster response

In response to Hurricanes Laura and Delta, we delivered $50,000 to the Orange County Disaster Rebuild to support ongoing recovery efforts and $95,000 to our policyholders affected by the hurricanes.

$500,000 in first responder grants

Together with Volunteer Fireman’s Insurance Services of Texas (VFIS), we awarded a total of $500,000 through two separate grant programs for volunteer first responders and nonprofit emergency service organizations. $200,000 was designated for a financial relief grant program to help provide funding assistance to organizations affected by COVID-19 and $300,000 went toward health and wellness grants.

$1 million in community sponsorships

With the widespread cancellation of programs and events during this time, we made a commitment to our longtime partners, many of which are nonprofits, to continue to fund sponsorships like rodeos, galas or luncheons. This commitment represented $1 million in funding to our partners across Texas.

$330 million in dividends

This year, our board of directors voted to distribute $330 million in policyholder dividends two months ahead of schedule. Historically, we’ve paid dividends in June but in response to the uncertain economic climate due to the COVID-19 pandemic, Texas Mutual recognized an immediate need to support qualifying policyholders at a time when they needed it the most. See how ownership pays at Texas Mutual.

Fighting fraud

Our dedicated team of fraud specialists, who work to protect our policyholders from those who take advantage of the system, received 2,925 referrals and identified $11.3 million in fraud and abuse in 2019. Their work helped prevent over $7.8 million in fraud and abuse while also protecting our policyholders’ premium dollars.

Virtual Safety Summit

We hosted our first-ever statewide online summit on September 2 featuring employers and industry experts discussing how businesses can work safely during the COVID-19 pandemic. The live webinar reached the 1,000-person capacity throughout the event with many participating in the live Q&A.

Customer experience enhancements

Building on our focus to modernize and enhance our customers’ online user experience in 2019, our teams have continued to update and modify our services and systems to better serve you. We completed large-scale initiatives like launching our new policyholder safety resource catalog, automating five of the most common policy changes for agents, and redesigning the homepage experience for policyholders and agents. We’re proud to continually improve our systems and tools to make workers’ comp work for all of our customers. Read more about all of our enhancements in 2020.

Sharing your stories

This past year, our ad campaigns told the stories of our policyholders and their employees, from businesses on the frontlines of the COVID-19 pandemic to those pivoting their operations to support Texas communities. Our ads for agents showed the different ways we’re serving their needs because they’re not just our partners, they’re also a part of our team. We’re proud to be able to tell these stories and share how we continue to be committed to our customers during this time. Through all the challenges the pandemic has brought on we continue to invest and support in the success of our policyholders and agents, because when you succeed, Texas Mutual succeeds.

Company awards and recognition

Taking care of people is not something we do, it’s who we are at Texas Mutual, so we’re humbled when our culture of service is recognized by others. See some of our achievements from this past year:

  • A.M. Best affirms ratings for 2020: A.M. Best, the industry standard for insurance providers, affirmed our “a+” issuer credit rating and our “A” financial strength rating. This represents our financial strength and commitment to our policyholders. For the latest Best’s Credit Rating, access ambest.com.
  • 2020 Governor’s Volunteer Award for Corporate Community Impact: Texas First Lady Cecilia Abbott and the OneStar Foundation recently recognized our work with the Central Texas Food Bank. In 2019, we partnered with the Central Texas Food Bank to revamp their Mobile Food Pantry logistics to better serve Central Texas families. Through this partnership, our committed volunteers distributed 90,655 pounds of food to 6,619 families.
  • 2020 Greater Austin Business Awards Honoree and Recipient: The Austin Chamber of Commerce recognized Texas Mutual as an honoree for the 2020 Greater Austin Business Awards. In addition, Texas Mutual’s President and CEO, Rich Gergasko, was recognized as an Austin CEO/Site Leader award recipient.
  • 2020 PR News CSR & Nonprofit Award for Corporate Partnership: Our partnership with Workforce Solutions Capital Area and KVUE, Austin’s ABC broadcast affiliate, to launch Trade Up Texas, was nationally recognized by PR News as the 2020 Winner for Corporate Partnership. The Trade Up Texas campaign helped connect over 1,000 individuals with Workforce Solutions to begin a new career.
  • 2020 Austin Gives Generous Business Award Finalist: This past year, the Austin Chamber of Commerce recognized us as a finalist for the Austin Gives Generous Business Awards for our philanthropic efforts in the community.
  • 2020 Our Driving Concern Traffic Safety Award Exemplary Recipient: For the third year in a row, the National Safety Council, in partnership with the Texas Department of Transportation, recognized Texas Mutual for our safe-driving initiatives.
  • 2020 Ethics in Business Award: RecognizeGood, a local nonprofit highlighting community service in the greater Austin area, recognized Texas Mutual with the 2020 Ethics in Business Award in the large business category for our work on improving communities with fair, ethical and sustainable initiatives.
  • 2020 Best Company to Work for in Texas: We’re honored to be named a 2020 Best Company to Work for in Texas for the ninth time and recognized as 13th best company in the large employer category, which is one ranking higher than our recognition in 2019.

As we look back on 2020, we continue to stand strong in our commitment for a stronger, safer Texas. We’re proud to continue to serve our customers as the leading provider of workers’ compensation, during this challenging time. We thank our agents, policyholders, employees, board members and community partners for their continued partnership and look forward to the year ahead.

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