annualreport.fslso.comFSLSO 2016 Annual Report

Loading... Loading... HOME WELCOME 2016 ACHIEVEMENTS GROWTH COMPLIANCE INNOVATION FINANCIALS BOARD & STAFF Florida Surplus Lines Service Office Annual Report 2016 WELCOME On behalf of the Florida Surplus Lines Service Office Board of Governors, I am pleased to present the 2016 Annual Report which outlines our organization’s health and achievements during the past year. FSLSO has as its vision to lead and serve the surplus lines community through innovative solutions. It is a privilege to chair an organization that pushes itself so hard in constant pursuit of excellence. With Executive Director Gary Pullen at the helm, the team at the Service Office is steadfast when it comes to protecting the surplus lines industry in Florida and facilitating compliance. The results of these efforts to assist the agent community speak for themselves: out of nearly $5 billion in premium in 2016, 99% of agent premium was reported accurately, and 91% of agent policy transactions were submitted timely. This is an organization that is serious about fulfilling its mission. MISSION: facilitate compliance VISION: lead and serve through innovative solutions READ MORE On behalf of the Florida Surplus Lines Service Office Board of Governors, I am pleased to present the 2016 Annual Report which outlines our organization’s health and achievements during the past year. FSLSO has as its vision to lead and serve the surplus lines community through innovative solutions. It is a privilege to chair an organization that pushes itself so hard in constant pursuit of excellence. With Executive Director Gary Pullen at the helm, the team at the Service Office is steadfast when it comes to protecting the surplus lines industry in Florida and facilitating compliance. The results of these efforts to assist the agent community speak for themselves: out of nearly $5 billion in premium in 2016, 99% of agent premium was reported accurately, and 91% of agent policy transactions were submitted timely. This is an organization that is serious about fulfilling its mission. This is an organization that is also serious about its customer. From the top down, an unparalleled thread of service permeates the organization. This conclusion is supported by the results from our Annual Customer Survey for 2016. When asked about satisfaction with our office, members rated us 99% across each of the following categories: Level of knowledge, Professionalism, Responsiveness, and Ability to assist. When asked about satisfaction with our proprietary filing software system, SLIP, members rated us 99% across each of the following categories: Ease of use, Reliability, Functionality, Performance , and Support . “ Testimonials regarding our office included comments such as the following: “You guys are a model for how other states should handle Surplus Lines.” “Florida streamlines the whole process. SLIP makes it fast, easy, painless and significantly cuts down on errors while filing.” “We are licensed in all 50 states and I continue to be impressed by FSLSO’s professionalism and dedication to efficiency.” “Florida SLIP is superior in ease of use and response time compared to other platforms.” “Florida Surplus Lines is the most helpful surplus lines I work with. I file in 20 states.” Providing quality services and products to our customers is the very heart of this organization. As this report is being written, we are preparing again for our annual strategic planning session which will bring forth another new set of opportunities, ideas and innovative solutions for 2017. I would like to extend my appreciation to the Board of Governors for the privilege to serve as Chairman. Finally, thank you for stopping by to take a look at our 2016 Annual Report. I appreciate your interest and encourage you to explore our website, www.fslso.com to learn more about our organization and our great industry. Sincerely, Keith Driggers x 2016 was an exciting and productive year for both the Surplus Lines industry in Florida, as well as the Service Office. Surplus lines premium written in Florida continued to grow, nearing almost $5 billion in 2016. Since its inception, FSLSO has been charged with protecting consumers, monitoring marketplace compliance and protecting state revenues. In fact, our Compliance Review and Premium Reconciliation programs discovered over $85 million in unfiled premium in Florida, resulting in more than $2 million in taxes, services fees, assessments and penalties recovered. Over our 18 years of operations, we have learned a lot and have developed a deep appreciation for the customer perspective. As is our regular practice, in 2016, we visited with several agents and agencies, both small and large in order to gather a deeper understanding of how our users interact with our office and can benefit from our filing software. READ MORE 2016 was an exciting and productive year for both the Surplus Lines industry in Florida, as well as the Service Office. Surplus lines premium written in Florida continued to grow, nearing almost $5 billion in 2016. Since its inception, FSLSO has been charged with protecting consumers, monitoring marketplace compliance and protecting state revenues. In fact, our Compliance Review and Premium Reconciliation programs discovered over $85 million in unfiled premium in Florida, resulting in more than $2 million in taxes, services fees, assessments and penalties recovered. Over our 18 years of operations, we have learned a lot and have developed a deep appreciation for the customer perspective. As is our regular practice, in 2016, we visited with several agents and agencies, both small and large in order to gather a deeper understanding of how our users interact with our office and can benefit from our filing software. As usual, we gained a wealth of insight about how to improve our business processes and proprietary software products to assist the agent community with being compliant. This year our Surplus Lines Information Portal (SLIP) received several exciting enhancements, many of which were brought to us as a result of these visits with our members. Be sure to read more about these enhancements below in our Innovation section. In our continual pursuit to innovate and improve products and services for our users, we also developed an interactive, online version of our Agent Procedures Manual. Now a highly interactive, web-based version complete with video tutorials and digital case-studies, the Manual allows our users to access the most important compliance information in a more friendly way. It is also now fully mobile responsive, so users are no longer constrained to a desktop or paper version. Speaking of increased accessibility, our most widely used product to date is our Tax Estimator. In 2016, we released an updated version of our Estimator Mobile App featuring more modern, up-to-date functionality. Then we also created an exciting Tax Estimator Web Service which now allows business-to-business integration of our Tax Estimator. Designed to provide immediate and accurate quoting for Florida surplus lines policies, be sure to read more about this product in our Achievements section below. Since its inception, FSLSO has been charged with protecting consumers, monitoring marketplace compliance and protecting state revenues.” “ Additional achievements for 2016 included a relaunch of our 60 Hour Surplus Lines Pre-Licensing Course from our Education department. FSLSO is currently the only provider in the state offering this online course. This year we performed a significant rewrite of the content as well as redeveloped the technology. We upgraded the platform so the course is now also mobile responsive and contains more dynamic and interactive e-learning modules. Legislatively, we saw victory when the Florida House of Representatives passed a bill revising the quarterly affidavit filing requirements. The bill amended Florida Statute 626.931, relieving surplus...