Core Principles and Values
People
Enhancing the success of the best business owners in our nation demands that we continue to be the very best in the insurance industry. Recruiting, training, retaining, and developing exceptional people is our paramount principle. We must continually work to be the very best we can be. The cumulative power of each individual reaching his or her full potential not only provides deep personal fulfillment, it ensures that our collective corporate value is unmatched. Loyal, trusted people with inspiring vision, who approach each day with the highest integrity, and who are driven with a deep sense of purpose to serve others, have found the greatest career satisfaction at Federated. Great people make great organizations — there is simply no other way.
Culture
Federated’s corporate culture is grounded in equity, integrity, teamwork, and respect. These “Four Cornerstones” create the foundation that supports all interactions and decision making. Woven into the fabric of this culture is our direct client service model, a defining value difference in the U.S. insurance landscape. Face-to-face, eye-to-eye contact, which fosters long-term relationships built on trust, is our way. Through interdependence, we value every role understanding that our best achievements come from collaboration. We consciously embrace a diverse, inclusive culture of high expectations, career-long learning, accountability, and ownership of individual results. We guard this culture by allowing only those that share our values to join and remain with our cause. Industry-leading results are an expected by-product of a culture like ours.
Financial Strength
We understand that unmatched policy owner value is possible only with superior financial results. Our ability to enhance our clients’ success depends on conservative investment strategies, sound underwriting, risk management discipline, professional claims management, and clear communication of corporate initiatives. We have a fiduciary responsibility for the policyholder monies entrusted to us. Our financial decisions will always be centered on what is best for our clients, employees, and Federated long term.
Value Marketing
Our objective is to provide all policyholders exceptional value at an equitable cost. We believe the best way to provide industry-leading client value is through our own highly trained marketers, underwriters, risk management personnel, and claims professionals. This direct client service model, with innovative products and services across two distinct product lines — property and casualty, and life and disability income — enables us to deliver a “total needs” risk management approach that few, if any, competitors attempt. This holistic view of business owner risk, coupled with the input of hundreds of America’s finest associations and buying groups, uniquely positions us to provide counsel most needed by those we serve. We understand that our direct approach is a more expensive approach. We also know that our business model requires more of every employee in all functions. Yet, we believe this direct, value-driven strategy best positions Federated to accomplish our mission.
Disciplines
At our foundation is the Federated Business Plan — conceived to provide a proven road map for both individual and corporate success. This discipline aligns behaviors to add value to the family businesses and affinity partners we serve. Our Operational Initiatives focus us on the opportunities inherent to the current year. Major Activities, unique to each role at Federated, are those activities that add the most value, and position employees to be the best they can be. The very definitions of these three disciplines give us our best chance of having the right people, in the right places, doing the right things. Achievement starts with clear expectations. Accountability around these expectations drives results. Results make client value possible.
Mutual Company
The mutual structure was a concept on which we were founded. It is another defining value difference, which allows us to devote our full attention to the best interests of clients, affinity partners, and employees. Stockholders, whose primary and often self-serving interest is return on their investment, are not part of our operational considerations. Our mission statement compels us to serve the needs of only those who have staked their future with Federated. We believe that the mutual company structure is a differentiating model that encourages high standards of governance, integrity, and equity for the benefit of clients and employees.