Our Policyholders Matter.
As we reflect on 2024, WCF Insurance is proud to celebrate another year of growth, innovation, and meaningful connections. Your trust and partnership continue to drive our mission of delivering tailored solutions and exceptional service.
A YEAR OF TRANSFORMATION AND GROWTH
2024 marked an important chapter for WCF Insurance, with a focus on broadening our portfolio and strengthening our financial foundation. We achieved direct written premium of $437 million, reflecting an 8% increase over 2023, outpacing the market. Our targeted expansion in Arizona, Nevada, and Idaho through our business owner's policy, commercial auto, and umbrella programs underscores our commitment to providing comprehensive solutions tailored to businesses across our core states. At the end of 2024, policies in force grew to 31,196, increasing 14% over 2023. We also saw a substantial increase in cross-sold policies, up 110% compared to the prior year. Furthermore, retention for cross-sold policies was 13% higher than non-cross-sold policies, highlighting the value we bring to businesses through our tailored insurance solutions and our focus on people.
Beyond our short-term performance, our focus on efficiency and profitability has positioned us for long-term sustainability. With policyholders' surplus (equity) increasing to $1.33 billion, our financial strength ensures stability for our agents and policyholders. Our AM Best "A Excellent" rating and stable outlook affirm our reliability as your partner.
ENHANCING YOUR EXPERIENCE
At WCF, we recognize that insurance is about people, not just policies. That is why we introduced new tools and digital solutions in 2024 designed to simplify your experience. From improving our portals to delivering faster quoting and customized notifications to expanded automatic-renewal options, we continue to leverage technology to provide personalized and seamless service. These enhancements ensure that our policyholders and agency partners have the resources they need to manage their policies effortlessly.
THE POWER OF PEOPLE
The foundation of WCF Insurance is our people - our agents, policyholders, employees, and community partners. Talent managements remains a core focus, and we are proud to have some of the best professionals in the industry driving our mission forward. Guided by The WCF Way - "Do the right thing, be great at your job, help others succeed" - we strive to cultivate an environment where every employee thrives and performs at their best to serve you. Beyond internal development, our commitment to fostering relationships with our distribution partners has strengthened our position as a trusted insurance provider.
DEEPENING COMMUNITY CONNECTIONS
Giving back is at the heart of who we are. Through programs with over 200 community leaders, we made a tangible impact in 2024. Our employees dedicated more than 1,800 volunteer hours, benefiting over 30,000 individuals, and philanthropy across WCF Insurance totaled $2 million for critical initiatives across our core states. These efforts reflect our unwavering belief that strong businesses are built within strong communities.
LOOKING AHEAD
As we move into 2025, we remain focused on innovation, growth, and deepening our relationships with you. Our commitment to measured, profitable growth remains strong, with strategic initiatives aimed at strengthening our commercial-lines portfolio, enhancing efficiency, and continuing to expand in key markets.
At WCF, people matter. Whether it is our agents, policyholders, employees, or community partners, we recognize that our success is built on relationships. We value your feedback and invite you to share your thoughts as we continue to evolve. Together, we will keep building a safer, stronger future for businesses, families, and communities.
Thank you for your continued partnership.
2024 Highlights
WCF Insurance continued to maintain its Financial Strength “A” rating (Excellent), with a stable outlook from AM Best. Our financial strength means we have the resources to support our customers when they need us most. Click here to access our 2024 annual report.
At WCF Insurance, we believe in community. We focus on building relationships, volunteering, and financially supporting local organizations and individuals where we do business. In 2024, our employees volunteered more than 1,800 hours impacting 30,000 lives in our local communities. Learn more about our community work here.
At WCF Insurance, our culture is built on The WCF Way - "Do the right thing, be great at your job, help others succeed". This guiding philosophy fosters an inclusive, mission-driven environment where employees feel valued and empowered resulting in a high employee retention rate of 89%. Click here to learn more.
