Reports: UCC Insurance Board is financially stable, stronger
Written by staff and UCCIB reports Oct 18, 2007 12:00 AM EDT
The United Church of Christ Insurance Board is focusing on future growth, strategic plans and a positive financial outlook, according to its leadership.
Reports presented on Oct. 13 to UCCIB's board of directors raised several topics meant to reassure the board that its fiscal and administrative struggles from two years ago were now past.
Speaking to the board were Dale Cable, chief financial officer, David Nelson, vice-president of insurance operations, Cathy Green, CEO and president, as well as executives of Willis of Ohio, UCCIB's broker.
"Financially, we now are current with a full audit through September 2006 and we have begun the September 2007 audit process expecting a timely and positive report," Cable said. "We expect to end the 2007 fiscal year in the black and are projecting a stronger cash flow for our current year. We have also put new fiscal monitoring matrixes in place to be vigilant in following our cash flow, which is critical in any successful financial operation."
Nelson noted that, operationally, UCCIB has stabilized with a new management team in place, renewed commitment by agents, and a revitalized service model that is very responsive to customers.
"Our focus now is to reach out to churches that were with the IB program in the past, and regain their confidence and participation," Nelson added.
Green praised the new executive team of Cable and Nelson that is allowing her to give increased amounts of time to visits and direct contact with Conference and Regional leaders as well as UCCIB agents.
"I am very confident that we have the right people in place to provide efficient customer service to the churches and the IB agents," said Green.
Ed Shaffer, senior vice president of Willis of Ohio, gave high praise to Green and Nelson in recent negotiations with the insurance carriers.
"Reduced costs by the carriers are largely due to the efforts of Cathy Green and David Nelson speaking to the carriers in a very creditable manner on behalf of the IB," Shaffer told board members.
The reduced premium costs made possible 2007-2008 allocation reductions for insured churches of up to 10 percent.
Board members approved goals and objectives for the next year that call for net growth of 100 churches insured in 2008. About 2,530 churches and other ministries now participate in the program. The business plan also projects retaining 92 percent of current participants, up from 88 percent retained this past year.
Green described encouraging results from a recent marketing campaign focused on former participants. To assist UCCIB in meeting its growth goals, it has engaged a Cleveland marketing firm that will develop an integrated marketing plan over the coming weeks. UCCIB also anticipates hiring a marketing director by the beginning of 2008.
The Rev. Alan N. McLarty, Penn West Conference Minister and chair of the Strategic Planning Committee that is working with UCCIB management on long-term strategy, told directors that a plan has been proposed and will be finalized at a January board retreat, with recommendations slated for presentation at UCCIB's annual meeting in February.
Other actions at the October meeting included approval of the 2007-2008 budget which projected a significantly improved operating result.
The next Insurance Board meeting of directors will be January 24-26 in Orlando Florida.
UCCIB, established in 1981, has corporate offices in Cleveland, Ohio. A not-for-profit corporation, UCCIB provides risk management services and educational resources through property and liability insurance programs for church entities of the United Church of Christ and the Christian Church (Disciples of Christ).