In addition to networking, meeting and learning during this year’s 88th annual meeting of the American Association of Managing General Agents (AAMGA) in Hawaii on May 18-21, representatives from all corners of the wholesale insurance market will be working together to adapt to meet the changing needs of AAMGA members.
The meeting, at the beautiful Hilton Waikoloa on the big island, brings managing general agents, underwriters and vendors together to chart the course of the AAMGA’s collaborative efforts.
“This year, we wanted to give members the opportunity to attend a productive meeting in a spectacular venue,” AAMGA Executive Director Bernd Heinze, Esq. told
Insurance Business America recently. Attendance at AAMGA meetings is based on many factors, but Heinze says it is not a driver of the return on investment or success the organization’s members achieve in having all representatives of the wholesale insurance industry in one place at the same time.
“The networking and fostering of trusted personal and business relationships that define our marketplace are further defined by the members themselves,” Heinze says. “We expect attendance in Hawaii to be as strong as prior conferences, and are already beginning to plan for the 2015 Annual Meeting in Washington, DC.”
Heinze says there are several main takeaways for attendees of the Annual Meeting. The first, Heinze says, is that the wholesale insurance market and AAMGA members are “open for business.” The Association’s member underwriting facilities comprising the wholesale managing general agents, managing general underwriters, program administrators/managers, brokers, aggregators, insurance and reinsurance companies, business services and state stamping and surplus lines offices are collectively strengthening and further enhancing the binding authority segment of the insurance industry. All members and all wholesale insurance markets will have access to one another at the conference, Heinze says, along with the important vendors and solution providers who will be exhibiting their products and services.
Secondly, Heinze says the marketplace has seen an increased level of confidence in the past year driven by a relentless emphasis on further improving underwriting discipline and expense management. Similarly, challenges and opportunities have arisen. The robust risk adjusted and surplus capitalization has enhanced competition while maintaining the level of access, service and responsiveness customers expect, Heinze says.
“Through our educational and advocacy initiatives, we are ensuring the voices of our members are being heard, that our seats at the table are occupied, and our engagement with domestic, international and state regulators, legislators and markets are meaningful, regular and effective,” Heinze says.
Finally, Heinze says the AAMGA’s ongoing commitment to young professionals entering the industry, and students enrolled in the RMI programs across the country, has never been more aggressive. “We are actively participating in numerous programs in colleges and universities, Gamma Iota Sigma conferences and educational opportunities and with our own Under Forty Organization to ensure the next generation of wholesale insurance professionals is well prepared and engaged,” Heinze says. “A number of the students will be at the Annual Meeting and able to network with our members one-on-one.”
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