Award recognizes President & CEO for visionary leadership in driving modernization, accelerating growth, and delighting agents and policyholders
Frederick, MD, March 1, 2022. Frederick Mutual Insurance Company (FMIC) is pleased to announce its president and CEO, Nancy Newmister, has been recently recognized by Digital Insurance with the Women in Insurance Leadership award. Nancy was selected as an honoree for this prestigious recognition based on her resounding success transforming FMIC into a modern, thriving insurance company.
For nearly 20 years, Digital Insurance's Women in Insurance Leadership program has honored women in insurance leadership roles who innovate to propel their companies, industries, and communities forward. When Nancy took the helm as president and CEO of FMIC in 2016, she aimed to break through old notions about insurance by taking a fresh, modern look at insurance products and packages. In less than five years, she transformed FMIC into a well-positioned organization with increased brand awareness and shareholder value, while charting a transformational business and technical roadmap for the company to double its size. She further modernized the company by going fully paperless. As further illustration of Newmister’s leadership, her collaborative management style also helped win FMIC a Frederick County Best Places to Work award in 2020.
Newmister, a consummate team player, said, “I believe our success is in the team’s commitment and their level of consistency and care, they hold themselves accountable. It takes all of us to make these things work.”
"Nancy has been able to bring a century-old insurance company into the modern day with savvy digital investments and decisions," says Nathan Golia, editor in chief of Digital Insurance. "It's an honor to bring her into our Women in Insurance Leadership pantheon."
Nancy was nominated by one of FMIC’s partners, BriteCore, a leading provider of cloud-based core policy administration systems for P&C insurers. Echoing the praise, BriteCore CEO Ray Villeneuve remarked, "Nancy is a transformational leader. She and the Frederick Mutual team are a shining example of the forward-thinking mutual insurers we strive to work with. Her high level of commitment, partnership, and collaboration through Frederick's core system transformation project is a testament to the professional dedication Nancy and her team bring towards leveraging innovation and growing their business. We congratulate Nancy and FMIC on this prestigious Women in Insurance Leadership honor.”
As an honoree, Nancy was recognized in front of her peers at the DIGIN 2021 Digital Insurance conference this past December. With this recognition, Nancy and her team put FMIC, the mighty mutual, on the map of regional insurance carriers.
About Frederick Mutual Insurance Company
Founded on December 15, 1843, FMIC has continuously operated for 179 years as a mutual insurance company that empowers its policyholders through shared ownership and provides peace of mind in the most trying of times. They work with top agents across the Mid-Atlantic and Southeast region to provide policyholders with products that keep their homes, businesses, and communities safe.
FMIC initially served Maryland, then expanded their operating territory into Pennsylvania, Virginia, Delaware, D.C., and North Carolina. As the third oldest insurance company in Maryland and the ninth oldest in the United States, FMIC’s longevity is attributed to strong financials, derived from safeguarding the interests of our policyholders, and keeping pace with an ever-changing industry.
About BriteCore
BriteCore is a cloud-native platform for P&C insurers that unlocks business growth, enhances the customer experience, and delivers great efficiency gains. BriteCore provides end-to-end support for insurance operations that includes policy administration, an agent and policyholder portal, rapid product configuration, underwriting rules and rating, billing management, claims management, document management, and reporting. As a cloud-native solution, BriteCore is continually updated for maximum security, efficiency, and durability at scale.
