Third Quarter 2005   Volume 12 Number 2

 

When author Thomas Wolfe told a friend that he planned to return to his hometown after a seven-year absence, the friend warned him that “you can never go home again.” Though the remark inspired Wolfe to write his famous novel, You Can’t Go Home Again, his friend, in my opinion, had it all wrong. I’ve come home, both literally and figuratively, and I couldn’t be happier.

Pennsylvania is home and now I’m back, by way of a lengthy side-trip to Florida. Company underwriting is home, too, and I’ve come full circle in my profession to my new role as vice president of Underwriting and Product Development for Penn-America’s insurance operations.

Penn-America is in the business of building successful relationships with insurance wholesalers. So my most recent nine-year stint on the agency side of the fence makes this place feel especially familiar. I’m back where I began, bringing with me a wealth of experiences and insights into the meaning of “success” in the relationship between a carrier like Penn-America and a general agent. What I’ve learned is as simple as home cooking.

The raw ingredients of our business recipe never change. It is a social- and relationship-driven industry, in which relationships with business friends and colleagues often last a lifetime. Responsive customer service, aimed at being an agent’s path of least resistance, are time-worn phrases for good reason: companies that make it easy to do business with them do more — and better — business.

Since arriving at Penn-America, I have been immersed both in a re-engineering project and in the culture of Penn-America. On both counts, I like what I see. At every level of the company, there’s daily proof that relationships really do matter here.

For example, listening is a key part of strong relationships and Penn-America’s culture. So it’s no surprise that big changes have emerged from listening to our agency principals at the annual meeting in Bay Hill. In fact, the re-engineering project that occupies a good deal of my time was a direct response to agency principals telling us how we can make it even easier to work with them to build profitable portfolios for us and them. Already, the results are flowing:

• We’re increasing the number of binding authority classes agents can write;
• We’re redesigning our agency manual to be a much more user-friendly vehicle; and
• We’re restructuring our underwriting staff to provide agents with superior service.

Home isn’t where you live, a poet said, but where they understand you. Can you go home again? With my experience as a general agent and, now, from my vantage point at Penn-America, I can say with confidence: yes, you can. This is a place that really understands what general agents want and need to succeed.

 

Summary Financial Data
(In Millions, except ratios)

	Nine Months Ended September 30,
	2005	2004
Gross Written Premiums	$197	$195
Statutory Combined Ratio:
Loss Ratio	59.7	63.2
Expense Ratio	25.9	29.2
	85.6	92.4
	At September 30,	At December 31,
	2005	2004
Total Assets	$481	$441
Statutory Surplus	$163	$140

A.M. Best Rating: A- (Excellent)