Hutelmyer's goals include distinguishing AAMGA members
from other wholesalers in the U.S. and beyond
"The AAMGA member stands apart from the wholesale market in general in that we insist on our members following our Code of Ethics."
--Joe Hutelmyer, AAMGA President-elect
The coming year is bound to be a busy one for Joe Hutelmyer, CIW, incoming president of the AAMGA. He is already contemplating goals such as increasing membership involvement in AAMGA committee activities, giving more support to the AAMGA University, educating AAMGA members about new technologies, and getting the message across to insurance companies on both sides of the Atlantic that using "professional" MGAs can help grow their businesses.
All this, of course, while Hutelmyer remains president of the Burlington, North Carolina-based Seaboard Underwriters, Inc. "I'm one of the lucky ones. I love my job. I love having the opportunity to develop people's talents. I want to get more people involved in the AAMGA. I can delegate authority yet keep abreast of developments at the same time."
Hutelmyer came to the surplus lines market in the early 1980s after having worked as an underwriter in the standard market. One of his employers told him that the best way to learn about the surplus lines business was to become involved with the AAMGA. So, he did. He joined the association and became involved in a few committees.
"But the 1980s was a difficult time for the insurance industry and, also, I was raising a family, so I couldn't put in all the time necessary for committee work. But then, in the 1990s, the insurance market stabilized and the children had grown enough to be more independent. So, I began becoming more actively involved in committee work and found it extremely rewarding."
So rewarding that last year Hutelmyer ran for president-elect and won. "Looking back to the early '80s, the thought that I would one day be president of the AAMGA was the furthest thing from my mind. Consider those who have been AAMGA presidents. They are all very talented people who have done remarkably well for the association. I only hope I can do equally well."
Well, Hutelmyer has his agenda prepared. For one thing, he is set on encouraging more people to become actively involved in AAMGA committee work. "We already have some tremendously talented people involved in our committees and they're doing a wonderful job," he explains. "I would like to see those numbers increase. For example, our Under Forty Organization (UFO) is replete with young, energetic members. We have some of them involved in committees, but I would like to see more. These young people are not only the future of the AAMGA, but the future of the insurance industry."
The AAMGA University is also high on Hutelmyer's priority list. "Not only has the University done a superb job in terms of providing education courses that are timely and incisive, but University leaders have been able to bring the University to MGAs. Last year, there were some 15 courses actually conducted in the offices of MGAs. I would like to see that ingenuity developed even further and the value of the University designations more fully recognized in the industry."
Hutelmyer says also that keeping informed of new technologies is extremely important for AAMGA members. "Recently, we held an automation and technology conference in New Orleans which drew 315 people. The message came across clearly that new technologies can help MGAs grow more efficiently. Look at the AAMGA 10 years ago and look at it today. Today, AAMGA members write about $3 billion more in premiums than 10 years ago and with fewer employees. That, of course, is due to the new technologies available."
But one of the most important things on Hutelmyer's agenda is to inform the company market about "professional" MGAs. "We have to define what an AAMGA member is and differentiate the AAMGA member from the rest of the wholesale community. We have to approach companies that are not using AAMGA members and let them know what we bring to the table. We offer insurance companies many benefits that they don't realize. We can save companies dollars by increasing their market share, while at the same time assisting them in operating more efficiently. A qualified MGA can become a company's back office--handling their administrative work so that the company doesn't have to hire 50 people to do it. In addition, a company can enter a product line at minimal cost and, if it doesn't work out, exit that product line also at minimal cost."
Moreover, Hutelmyer's sights are set on the international community as well. "The industry is becoming more global; there are no two ways about it. With the new technologies, we can communicate with overseas markets with greater speed. We believe there is a place for the MGA in the international insurance arena. Our members have been making trips to London to discuss with London insurers the benefits of the MGA system. And, we're finding out what they expect of us as well. One message we want to get across very clearly is that an AAMGA member stands apart from the wholesale market in general in that we insist on our members following our Code of Ethics. It is very difficult to become an AAMGA member. It's not just a matter of paying dues. Some MGAs apply for membership two or three times before they meet our qualifications. And, if an AAMGA member falls short of adhering to our Code of Ethics, there are disciplinary actions that can be taken against that member."
Hutelmyer's agenda is full for the next year. It appears that he will need a significant amount of energy to put it all together. But it also appears that, with Hutelmyer, energy abounds. *