When you’ve been around for 207 years, you learn a thing or two – not only about how to build a successful, client-focused company, but also about how to create a place where people work hard and love their jobs.
“It’s like a like family around here,” says Providence Mutual Fire Insurance Co. President and CEO Sandra G. Parrillo. “Our employees care about the company, and we care about them.”
Chartered by the State of Rhode Island in 1800, Providence Mutual provides personal and commercial insurance protection, written exclusively through more than 300 independent agents, to more than 75,000 policyholders in New England, New York and New Jersey.
Providence Mutual’s endurance and success have earned it consistently high marks from ratings agency A.M. Best, which applauds the company’s solid capital position and accumulation, excellent liquidity and extensive local market knowledge.
But behind the impressive numbers is a company that keeps its focus on people, whether they are clients, agents, or the company’s 70-odd Warwick-based staff.
Providence Mutual prides itself on commitment and hard work, on being a place where expectations are high and people work independently, but know there is support when they need it. And everyone is ready to jump in and help their coworkers.
This team culture doesn’t stop at the corner office. “The doors are always open,” said Billie-Jean Lima, a senior personal lines underwriter who started with the company in 1975. “There is great respect at every level.”
“Everyone here is on a first-name basis,” Parrillo added.
Providence Mutual also offers good benefits, including goal-driven profit-sharing and medical coverage for the entire family with no employee contribution. There is also financial support for continuing education, as well as seminars, cross-training, and mentoring.
The company also promotes from within, a practice championed by Parrillo, who started as in intern 30 years ago.
“Just because you’re an entry-level staff person doesn’t mean you can’t start learning about the next level if you’re interested,” said Patricia Cline, assistant vice president of personal lines.
At every level, people at the company seem to embrace the mission of “service, security and stability” and a commitment to customers.
When the company expanded its offerings a few years ago, for example, people stayed late and worked Saturdays, Cline recalled. “Nobody complained,” she said. And when the company went paperless last year, staff at all levels participated in training and helped the new system go live in a mere 60 days. The result, says Cline, was a 50-percent reduction in the turnaround time for processing claims.
Providence Mutual has also made a point of being a fun place to work. There is an ad hoc group of employees who have taken on responsibility for organizing social events and outings throughout the year. The company recently implemented a “summer hours” system, which allows employees to take longer weekends in exchange for working longer days during the week. This year, the summer season was kicked off with a parking lot cameo by a Del’s lemonade truck, thanks to Providence Mutual’s CFO, Earl Cottam.
Said Cline: “I’ve been working in the insurance business for 25 years. Without a doubt, this is the best company I’ve worked for. I look forward to coming to work.”
