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Church Mutual’s® new Risk Radar Report – Child Care reveals insights, opportunities and challenges for today’s suppliers
MERRILL, Wis.–(BUSINESS WIRE)– Parents across the United States are facing the difficult challenge of selecting daycare for their children – and amid the nation’s ongoing child care crisis, the process is not easy. In his news Risk Radar Report – Child Care1, Church Mutual Insurance Company, SI (a stock insurer)2, an insurer of child care providers, found that “safety protocols and procedures” (65%) were the most important factor for child care providers. parents choosing child care, closely followed by “staff experience and training” (64%). These factors topped ‘price’ (55%), ‘programming/curriculum’ (55%) and ‘staff turnover’ (45%), which ranked last of the nine total factors .
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Babysitting must have. Church Mutual Risk Radar Report – Child Care 2022. (Graphic: Business Wire)
“Child care is an essential service for today’s working parents,” said Rich Poirier, President and CEO of Church Mutual. “In 2019, the child care crisis in the United States cost the nation an estimated $57 billion in lost earnings, productivity, and revenue. Fast forward to today, our country is emerging from a pandemic, and the challenges and costs facing child care providers are only increasing.
“We protect child care organizations and the children they serve by mitigating risk through education, training, knowledge and essential insurance cover. Additionally, to better position themselves for success, it is important for providers to prepare for the risks they face, as well as to better understand what drives parents’ decision-making process when it comes to choosing custody of their children. children – that’s where our new Risk Radar report helps.
Risk Radar Report – Child Care is the first version of the new version of Church Mutual Risk Radar initiative that uses proprietary primary research to gather key, forward-looking information for childcare providers, other nonprofits, and places of worship, helping them maximize opportunities and minimize risk . Risk Radar Report – Child Care surveyed approximately 500 Americans (18+) with one or more children currently in daycare.
What child care means for parents
When asked what childcare means to them, more than half (52%) of parents said it was “essential for me to work and support my my family”, slightly exceeding “an important part of my child’s social and emotional development”. (51%). This contrasts with only 28% who indicated that childcare is “useful, but not essential for my family life”.
According to Nicole Jolley, Assistant Vice President of Church Mutual – Child Care, Nonprofit and Social Services, “Today’s parents view child care as essential to their family dynamics. More than half also indicated that childcare is an important part of their child’s social and emotional development It is important that providers can remain open and create a safe environment using established safety protocols and checklists to guide their operations.
Childcare challenges top the list for the year ahead
Given the importance of the pandemic over the past two years, it is not surprising that the Risk Radar Report – Child Care found that “new pandemic variants/infectious disease impacts and procedures” (49%) topped the list of parents’ concerns about the biggest childcare challenges in the coming year. This was narrowly ahead of “high child care costs” (47%) and “being able to work while taking care of my child(ren)” (42%). Only 33% of parents said access, or “finding a facility that has room to take my child,” was a challenge for the coming year, despite widely reported shortages of care staff.
Supplier Resources
Church Mutual offers a range of free online resources specifically for daycares, nonprofits, and social services. To visit Safety Resources for Child Care Centers and Other Nonprofits to know and help reduce common risks.
“Understanding the vital role that child care plays, and the associated challenges and desires from a parent’s perspective, creates a unique opportunity for providers. We encourage them to use ideas from our Risk Radar Report to improve and evolve their organizations,” concluded Jolley.
About the Mutuelle de l’Eglise
Church Mutual Insurance Company, SI, founded in 1897, provides specialty insurance for religious organizations of all denominations, public and private K-12 schools, colleges and universities, seniors’ residences, camps and secular and non-secular conference centers, and nonprofit organizations and social service organizations throughout the United States. Church Mutual markets most lines of property and liability insurance, including property and casualty, workers’ compensation and commercial auto insurance. In addition to insurance, Church Mutual offers an array of value-added solutions that benefit its customers. Church Mutual holds the following honors:
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AM Best Company “A” (excellent) rating
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Wisconsin 75 Top Private Company by Deloitte US, 2016, 2017, 2018, 2019, 2020 and 2021
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Wisconsin 75 Distinguished Performer: Innovation by Deloitte US 2019
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Recipient of the 2021 Gallup Prize for Cultural Transformation
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Recipient of the 2020 Women and Diversity Award from the American Property Casualty Insurance Association
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Futuremakers Partner by Wisconsin Technical College System
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Celent Model Insuring for innovation and emerging technologies
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Innovation Award for entrepreneurship and innovation by the Association Nationale des Mutuelles d’Assurance
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Employer of the Year 2018-2019 by Northcentral Technical College
1Church Mutual Insurance Company, SI conducted an online survey through SMS Research Advisors, The Church Mutual Risk Radar Report – Child Care, in March 2022 of a nationally representative sample of 500 older adults 18 years and over.
2Church Mutual is a stock insurer whose policyholders are members of the parent mutual holding company incorporated on 1/1/20. SI = an equity insurer.
Show source version on businesswire.com: https://www.businesswire.com/news/home/20220503006274/en/
Contact: Jennifer Johnson
Title: Corporate communication consultant
Call: (715) 539-5797
E-mail: [email protected]
Source: Church Mutual Insurance Company, SI