Looking Out for You
By Amir Zaman, WEA Insurance
employee benefits specialist
December 1996
The member has always been at the center of WEAC’s insurance programs,
and now we’re putting “member” right in the middle of the
L&C Trust’s name . . . literally. The WEA Liability & Casualty
Insurance Trust — often referred to as the “L&C Trust”
— is the name of the program that provides auto, home and other personal
lines of insurance to WEAC members. Not only is the name a mouthful, but
most members don’t know what the name signifies. So, effective January
1, 1997, the L&C Trust will change its name to more closely reflect
what it does. It will be called the “WEAC Member Benefit Trust.”
You’ll note that “member” and “benefit” are
the heart of the new name. That’s how the program was conceived —
to provide benefits to members — and that’s precisely what it’s
doing today. Right now, the benefits available to members from this program
include individual insurance for autos, homes, condos, apartments, boats,
recreational vehicles, rental properties and excess liability. As it evolves
into a more autonomous, full-fledged insurance program, other benefits
will be added.
“Trust” is also a key element of the new name because WEAC
is committed to building a program that does more than simply issue policies.
The program provides members with personal insurance consultants who look
out for members’ interests rather than “agents” who benefit
by “selling” policies. Members can be confident that they will
receive expert advice about what personal insurance they need to protect
themselves and their families from financial hardship.
Doing better with less
All of WEAC’s insurance programs were created and work with the
assumption that it’s possible to provide top-notch products and services
to members out of concern for their well-being rather than a profit motive
and to eliminate marketing excesses of commercial insurance companies.
The WEAC Member Benefit Trust is another product of this effort.
Along with the name change, this program will take a series of steps
to give members more for their money. For example:
- Bringing service closer to home. The Trust has been contracting
with Wisconsin Mutual Insurance Company to provide many insurance services.
Beginning January 1, policy issuance, billing, collections, and claims
settlement will all be performed internally by employees of the Trust.
This will allow the WEAC Member Benefit Trust to directly control and
customize member services. The program will still need to rely on outside
vendors for some claim services, but even these will be directed by
the Trust’s own employees so as to make sure that members are never
slighted.
- Building loyalty and reducing uncertainty. One of the obligations
of the Trust is loyalty to the members who participate in its programs
and services. A primary demonstration of this loyalty is found in the
auto program’s “no cancellation” philosophy. The program
offers members preferred rates on auto insurance. To get that rate,
you need to have a good driving record. However, if you are unfortunate
enough to be involved in a number of accidents or violations, the Trust
will not cancel your policy but will simply transfer you within the
program to a standard plan until you can re-qualify for the preferred
plan.
- Additional rewards for membership. Members will be rewarded
for joining and staying with the program. The WEAC Member Benefit Trust
plans to incorporate discounts into the program that reward a member
both for loyalty to the program and for risk-avoiding behaviors. Discounts
that increase over time will be based on a member’s length of stay
in the program and his or her demonstrated concern for safety. In addition,
the Trust plans to match accident-free discounts earned with other companies
when a member first insures through this WEAC program.
- Program enhancements and automation. Beginning January 1, the
program will be operating with a new data processing system designed
to speed up service to members. Many internal processes will be computerized,
which will reduce manual tasks and the amount of paper passed around
the office. In the long run, this will minimize costs for the program
and provide opportunities to improve efficiency and accuracy.
Commitment to members
The personal insurance program grew last year at a rate of almost 20%
as more members discovered the combination of value and service that it
offers. This type of growth proves that WEAC members appreciate a program
that educates them about what personal insurance they need rather than
“selling” them a policy. The program’s goal is to make
sure every member is well-protected, and that each member’s specific
needs are met.
For more information about the program, or to talk to one of our personal
insurance consultants about obtaining auto, home, and umbrella liability
insurance, call us toll-free at 1-800-279-4010.
Posted November 15, 1996