FINANCE DEPARTMENT STAFF MEMBER ‚COLLECTS‘ NAIC DIAMOND AWARD


13 Jun 2007 [11:50h]     Bookmark and Share



Darrell Thacker, Credit and Collections Administrator for the National Association of Insurance Commissioners (NAIC), today received the NAIC Diamond Award for his success in reducing outstanding accounts receivable for the Association, as well as for the National Insurance Producer Registry (NIPR).

Thacker, who joined the NAIC in 2001, was nominated by Carol Hartley, Senior Controller in the NAIC Finance Department. The nomination also was supported by NAIC Executive Vice President and CEO Catherine J. Weatherford.
 
Express criteria for the prestigious Diamond Award must be met, including:

  • Successful completion of a multi–year, high–profile NAIC Member initiative.
  • Outstanding leadership, judgment, initiative, competence and negotiation skills.
  • The important, high–profile and complex initiative must positively affect the NAIC and result in the attainment of its mission.

“Through hard work, dedication, and ingenuity, Darrell worked with the system, the business units, and the customers of the NAIC and NIPR to reduce the receivables burden, even though billable sales have increased,” Weatherford said. “In his tenure with the NAIC, Darrell has been able to build a collections process that not only contacts customers with excessive or very old balances, but contacts all customers with a balance 30 days or older. This is monumental when compared to previous collection practices.”

Two of Thacker’s process changes with the most impact include changing the language on all statements to include easy instructions on paying the balance of the account statement and the implementation of the PeopleSoft process to take credit card payments after the point of sale. His demeanor and phone presence also has helped build a strong relationship between the NAIC/NIPR and their customers. Some customers call him for every request, not just those that deal with collections, as they previously have benefited from his strong commitment to help our customers, Weatherford said.

“Darrell is very forward thinking in his approach to the collections process,” Weatherford said. “He has implemented several processes that have helped increase not only the collection of aged accounts, but those accounts that are only a few weeks past due, as well.”

About the NAIC

Headquartered in Kansas City, Missouri, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and the five U.S. territories. The NAIC’s overriding objective is to assist state insurance regulators in protecting consumers and helping maintain the financial stability of the insurance industry by offering financial, actuarial, legal, computer, research, market conduct and economic expertise. Formed in 1871, the NAIC is the oldest association of state officials. For more than 135 years, state-based insurance supervision has served the needs of consumers, industry and the business of insurance at-large by ensuring hands-on, frontline protection for consumers, while providing insurers the uniform platforms and coordinated systems they need to compete effectively in an ever-changing marketplace. For more information, visit NAIC on the Web at: http://www.naic.org/press_home.htm.


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