[October 19, 2016]

A.M. BestTV: Insurers Court Program Managers to ‘Outselect the Market’

In this ^A.M.BestTV episode from the Target (News – Alert) Markets Program Administrators Association (TMPAA) Summit in Scottsdale, AZ, insurance executives said managing general agents (MGA) and brokers have an advantage in developing new products and programs because of their close ties to insureds and agents. Click on https://www.ambest.com/v.asp?v=targetmarkets11016nc to view the entire program.

Program administrators from throughout the United States are attending the conference and talking about how attractive the program business has become.

“There is a lot of interest in the program business from carriers in it and MGAs,” said Jack Russell, senior vice president, brokerage & program distribution, Allianz SE. “The reason for this is that the sector is able to design services for customers that they cannot get on their own.”

Robert Newmarker, head of sales, Zurich Programs, said he believes the business is a huge opportunity for growth. “This program business is going to continue to grow and have a lot of activity, because it is going to continue to be a disruptor in the insurance marketplace.”

Other people that appear in this episode:

• Anthony Campisi, president and chief executive officer, Glatfelter Insurance Group;
• Marc Willner, executive vice president, Ironshore;
• Heidi Strommen, president, ProHost USA Inc.; and
• David Brown (News – Alert), senior vice president, insurance brokerage, Munich Reinsurance Company.

Recent episodes of ^A.M.BestTV include:

• Drone Surge Opens Up a Wide Horizon of Risk Coverages: Paul Bowles, an attorney with Fitzpatrick & Hunt, Pagano, Aubert, LLP., said drone operators should consider protecting hemselves against a range of property and liability exposures, including aviation and marine risks, commercial liability, errors and omissions, directors and officers, privacy and more: https://www.ambest.com/v.asp?v=drones1016.

• EAIC Conference: Asian Insurers Embrace the Analytics Revolution (News – Alert): At the East Asian Insurance Conference (EAIC), attendees said insurers and reinsurers are rapidly expanding the use of data technology for underwriting, pricing, marketing and customer relations: https://www.ambest.com/v.asp?v=eaic31016nc.
• EAIC Conference: Insurers Seek Deeper, Longer Customer Relationships: At EAIC, attendees said insurers are being judged across industries and that they must create products and services that serve the evolving needs of customers or risk obsolescence: https://www.ambest.com/v.asp?v=eaic11016nc.
• Fiduciary Rule Impacting Variable Annuities, Says A.M. Best Analyst: Edward Kohlberg, associate director, A.M. Best, said that the Department of Labor’s looming fiduciary rule changes have a role in the recent shifting of annuity sales: https://www.ambest.com/v.asp?v=annuities1016.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20161019006415/en/

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