Princeton’s employees have been the most important contributing factor to its longevity, stability and strength as a company. Our dedicated employees began the transition towards a paperless office in 2006 as two of our key departments, claims and underwriting, successfully made the switch. In 2007 and beyond, we will roll out this change to other areas of the company in order to maximize customer service and efficiency. We also strive to continually enhance the communication skills and professionalism of all staff. Technology plays an ongoing part in this initiative as well, and the addition of Voice-over Internet Protocol (VoIP) in 2007 will streamline email and voicemail access.

3. To Evaluate and Embrace Positive Change

Princeton’s Healthcare Risk Services group will continue to support other departments within the company by helping to identify emerging issues and sharing the information obtained through research and surveys.

Princeton’s Information Technology team is poised to begin building a new business processing system for the company. The new system will be built to replace our longstanding ECHOS platform. Fully compatible with technology we are using for the paperless office, the new system will allow internal functions to be further streamlined and unified.

We strive to work directly with our agents to help “put a face to the policy” for our insureds, through more frequent visits to policyholders. In addition, greater emphasis is being placed on our corporate Web site. Agents can now log-in to view their account information and to obtain valuable marketing tools and physician policyholders have their own secure site, allowing access to account status, agent contact information and exclusive risk management tools.

4. To Demonstrate Value to Policyholders

Success for Princeton cannot be achieved unless our partnership yields value for those we exist to serve. In 2007 and beyond, we’re working to build value in a number of ways, including:

• A comprehensive risk self-assessment survey for policyholders. Filling out a self-assessment helps engage policyholders in the risk management process and allows our risk team to better understand what is currently being done to manage risk within the healthcare community, as well as what needs improvement. In turn, survey results are used to determine possible risk management credits to premium.
• The new Princeton Insurance Risk Tool Kit, which has garnered overwhelmingly positive feedback from policyholders. The tool kit, a multimedia packet containing expert advice and information about patient safety initiatives, risk management guidelines, general liability data and more, will receive regular updates and enhancements and receive a wider distribution in 2007 and beyond.
• Account Teams. Princeton’s Healthcare Risk Services Department will continue to work with members of our Underwriting Department and Claims Department in 2007 and beyond on special account teams. These work groups meet to discuss large premium policies in order to best serve policyholders, pinpointing what has been done to improve risk management tactics so that this information can be considered when establishing rates.

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