CASE STUDY
FCCI Underwriting Team Exceeds Premium Projections by 30% in Six Months
Objectives
Comprehensive, one-stop insurance solution for agency partners and customers.
Speed to market and the ability to make product changes in real time.
Grow profitably and expand into new lines of business.
Results
Submitted business within hours of launch and issued first policy within 24 hours of going live.
Just six months into production, the underwriting team produced 30% over planned premium projections to date.
We designed our E&S product utilizing Duck Creek’s multi-level inheritance model, leveraging its Commercial Lines templates for Admitted Lines using ISO templates, forms, rules, rating, and UI design. This approach has enhanced our system’s flexibility and future-proofed it for when we decide to transition our Admitted Lines to the Duck Creek platform with minimal changes and in a shorter duration. We designed our E&S product for FCCI specialty utilizing Duck Creek’s multi-level.
Dave Patel
EVP, CIO, FCCI
The Challenges
- Legacy infrastructure limitations, outdated to support growth and new product lines, particularly in the Excess & Surplus (E&S) market.
- Complex producer hierarchies and manual processes slowed onboarding and operations creating inefficiencies.
- Speed to market pressure: couldn’t launch new products quickly and make real-time product changes to stay competitive and scale without costly upgrades.
- Agent and customer experience improvement required automation and digital capabilities.
The Solutions
- Flexible, end-to-end platform for one-stop commercial insurance services.
- Automation, including the submission clearance process and notifications.
- Multi-level inheritance model, leveraging Commercial Lines templates for Admitted Lines using ISO templates, forms, rules, rating, and UI design.
- Ability to make product changes in real-time.
- A dedicated Agency Portal, built on Duck Creek, for submitting E&S business.
- Policy with Active Delivery for automatic update delivery, eliminating time, costs, and disruption associated with traditional manual platform upgrades.
- Six lines of E&S business, including Property, across 23 states.
- Just three months after launching, rolled out Straight Through Processing for select E&S General Liability Classes.
The Impacts
Technology and repeatable processes in place to accelerate the launch of additional new product lines and features.
Enhanced flexibility and future-proofed for future lines transitions for minimal changes in a shorter duration.
A solid foundation for continued differentiation, growth, and expansion in the commercial insurance market.
Expanded offerings, improved operational efficiency, and set a solid foundation for future growth.
About the Customer
Founded in 1959 in Sarasota, Florida, FCCI Insurance Group provides commercial property and casualty insurance, risk control services, and surety bonds. FCCI writes business exclusively through more than 3,800 independent agents in 20 states, plus Washington, D.C. Coverages include auto, crime, cyber liability, equipment, excess & surplus, property, general liability, inland marine, umbrella, and workers’ compensation. Contract and commercial surety bonds are written in 45 states.
FCCI insures over 12,000 policyholders across various industries, including agribusiness, construction, manufacturing, medical and professional, restaurants and hospitality, retail, service and repair, and wholesale and distribution. FCCI has $3.3 billion in assets, $1.2 billion in direct written premium, and is rated A (Excellent) by A.M. Best Company. FCCI has regional and branch offices in Florida, Georgia, Indiana, Mississippi, Texas, and Virginia.
Location
Sarasota, Florida
Industry
Middle Market Commercial Property & Casualty
Specialty: Excess & Surplus
Products/ Services Utilized
Duck Creek OnDemand, Policy, Rating, Clarity, Industry Content, Producer, Policyholder, Distribution Manager
Talk To Sales Today
The only way to see if Duck Creek is the right fit for your P&C insurance business is to see it in action.
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