PHILADELPHIA – If PFCU Services LLC President/CEO Mark Craven had to do it all over again, he wouldn't change one thing in launching the agency. "It was challenging opening our doors after the events of 9/11 and maybe 2002 was not an ideal time, but we've had good solid success in 2003 and we're at 91% retention, which is better than the industry standard of 85%," said Craven. Partnering with Springfield, Massachusetts-based insurance turnkey solutions provider Banc Insurance Services, the wholly-owned limited liability company was formed to not only increase Philadelphia Federal Credit Union's income, but also its member retention by reinforcing its position as a full-service financial institution. As part of the arrangement, members have access to a full array of property and casualty insurance products and services from national carriers. The CUSO owns member policies and member renewals while BIS manages the business and operational risk. The annuity value commission is fixed each year so if for example the agency receives 14% commission it continues year after year. As far as trends, Craven says he sees disability and cancer protection insurance being big revenue drivers over the next few years. With the American Cancer Society estimating that one in two men and one in three women in America will be diagnosed with cancer, the insurance agency decided to offer Cancer Protection Plus. Written through Allstate Insurance, the plan is designed to help members cover the high costs associated with cancer treatment and prevention. The idea behind it is that members can focus on their recovery without worrying about how treatments are impacting their finances. "When looked at product I immediately saw the value in it and signed my wife up on the family plan," said Craven. "It is something that members are interested in. There is a whole shopping list of what is covered from transportation, lodging and daily visits from an in-house physician to cancer and some 285 specified diseases." Craven says the most popular feature of the plan has been that Allstate fully reimburses women over 40 and physician referred women under the age of 40 for their mammography screenings. In addition, the agency has launched a pilot program to offer employer group supplemental life, health and disability insurance onsite at branches. Initially the rollout will be limited to one branch, include signage and an onsite representative. Craven says looking ahead, PFCU Services LLC will continue to increase awareness of its offerings to members and employees alike, look for new carriers, and fine-tune its marketing approach. [email protected]