The American Association of Managing General Agents (AAMGA) is convening in two weeks in Kona, Hawaii. In the lead up to the vent,
Insurance Business America spoke with outgoing President Frank Mastowski on where he sees the industry and the longstanding trade association.
Insurance Business America: Your term as the president of the American Association of Managing General Agents (AAMGA) ends during this week’s annual meeting in Hawaii. What do you see as the highlights of your term?
Frank Mastowski: From the beginning of my term and even prior to becoming President of the AAMGA, my first goal was to make sure the strategic plan initiative worked on by prior boards of directors was voted in favor of the recommendation for a By-Law change. The change, having occurred early in my term by an overwhelming majority of the members, required us to ensure the strategic plan moved forward.
Ad Hoc and steering committees were used to research and fact find so their reports formed the basis of the next steps needed to allow the AAMGA to become an organization for all binding and underwriting authority wholesalers. With this first step being accomplished the information will carry into the future to continue the journey of moving the Association forward.
Just as important a goal for me was set at committee day last June. That goal was to continue making progress with all the standing committees to further enhance the benefits available for AAMGA members. From this perspective, the standing committees have done outstanding work to enhance the AAMGA experience. Indicative of the success was the attendance at University classes both in the East and West being at record levels. This also held true of the Automations committee’s conference in Florida with a record turnout. The automation committee also led the way for an upgrade on the AAMGA website which was needed. The Under Forty Organization continues to grow their membership to record levels. Our industry’s future is bright based on their involvement in UFO.
I am not only proud but thankful for the involvement by the board of directors and the many volunteers for the accomplishments that occurred allowing the AAMGA to continue to move forward.
IBA: Looking ahead, what do you see as the biggest challenge facing AAMGA?
FM: The biggest challenge for the Association will be the need to adapt and face an ever-changing wholesale insurance industry. To keep up with the benefits for our members will require more strategic planning than was needed in the past. Things that are affecting the wholesale industry include mergers/acquisitions of both wholesalers and companies; the speed, cost and implementation of technology and the regulatory issues that come at added expense. The AAMGA’s challenge is to recognize these changes and adapt and/or revise the committees as needed. The Board and headquarters will need to help the membership with answers to the changing wholesale market. The AAMGA is then an added-value proposition.
IBA: What can you say about your experience over the years on the AAMGA board?
FM: Having been on the AAMGA board for almost all of eight years, I have met many hard-working, dedicated, intelligent individuals who I can truly now call friends rather than just acquaintances. Each Board member adds their individual perspective to decisions and discussions that make membership in the AAMGA important. The support from headquarters adds to the experience as they are dedicated to the Association’s success.
In my travels this past year, I have seen first-hand the respect the Association receives throughout the industry. An example is our executive visit to London with the discussions that occurred. They will help every Lloyds AAMGA cover-holder save money and reduce the reporting requirements when placing business with Lloyds.
Next Thursday, look for a special "Five minutes with..." featuring AAMGA's incoming president, Matt Letson.
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