The program business in the US has dramatically grown following a 32.8% rise between 2018 and 2020 and a 9.33% growth in direct premiums for commercial lines during the same period, according to Ray Scotto, executive director of the Target Markets Program Administrators Association (TMPAA).
Insurance Business America (IBA) celebrates the symbiotic relationship between program administrators and carriers by recognizing the top program administrators and carriers in the country for the second time.
The IBA team identified this year's 5-star program administrators and carriers by calling for nominations in May, with nominees ranked based on their achievements and initiatives across a range of areas, including their largest programs, expertise and stability, and innovations in program development. The team also asked program administrators to provide feedback on the carriers they work with, which IBA used to determine the 5-star program carriers this year.
Afterward, the IBA team evaluated the carriers on a scale of 1 (poor) to 5 (excellent) in 10 categories. Those that received an average score of 4.00 or higher in a particular category were named IBA's 5-star award winners for that category for 2022.
Some of the 5-star program administrators and carriers in the US this year are:
Find out more about some of the winners this year by clicking the links above or see the rest of the list by reading the IBA 5-Star Program Administrators and Carriers 2022 report. Thank you for participating in the second annual report, and congratulations to all the winners!
