A valuable resource for
insurance network leaders
By Ray Scotto
When the inaugural meeting of the Insurance Networks Alliance (INA) took place in 2018, attendees approached the gathering with a mix of curiosity and skepticism. Many wondered about the value of discussing industry challenges alongside their competitors.
Fast forward to today, and INA members universally agree that the opportunity to engage with peers has become the organization’s most valuable asset. James Bastian, co-founder and chief operating officer at Advantage Partners, Inc., puts it like this: “The INA serves as a robust platform for networking with industry experts.
“It provides us an opportunity to share best practices and stay informed about the latest trends and innovations in the insurance sector,” he adds.
“Through my involvement with the INA,” says Elizabeth Schenk, regional executive vice president for independent insurance agency network Renaissance, “I’ve forged strong relationships with friendly competitors, relationships that have proven indispensable.
“The intellectual exchange we engage in collectively enhances the support we offer to independent agents nationwide, regardless of their affiliations,” she adds. “In an industry characterized by rapid change, proactive networking with other professionals has never been more crucial.”
Mike Strakhov, senior vice president and agency banking market leader at Westfield Bank, says, “It’s important
“The INA serves as a robust platform for networking with industry experts.”
—James Bastian
Co-Founder and Chief Operating Officer
Advantage Partners, Inc.
to note that the INA isn’t a forum for sharing trade secrets; rather, it’s a collaborative environment where networks can discuss how to adapt traditional operating models to meet the evolving landscape of our industry.
“We are making significant strides in fostering productive relationships with carriers, service providers, and peers, ultimately increasing the value of insurance networks,” he adds.
Conference set
As the INA prepares for its 8th annual meeting this January, membership has grown to more than 40 networks, including nearly all of the top 20 largest, which together account for more than 25% of total written premium in the U.S. property and casualty industry. Additionally, INA members represent over 30,000 independent retail agencies, accounting for almost 75% of all such agencies in the United States.
Today, agents are drawn to network affiliations for far more than just market access. They seek:
Education and tools designed to enhance revenue and agency value
Training on the effective use of technology
Strategic vendor partnerships
A broader industry perspective for strategic planning
Nicholas Petrocelli, president of ASNOA, says, “At the annual INA conference, our team uncovered a wealth of strategic opportunities. The event unites company leaders from across the nation, creating a unique platform for efficiently connecting with key partners.
“The participation of top-tier tech vendors provided cutting-edge offerings and insights, facilitating deep and meaningful conversations during networking sessions,” he adds. “Overall, the INA conference proved to be an invaluable investment for our business, offering unparalleled access to industry leaders and emerging technologies.”
To stay future-ready, networks must equip their agents with essential insights into market trends and ensure they leverage available technologies to enhance efficiency, grow their businesses, and increase value.
“The intellectual exchange we engage in collectively enhances the support we offer to independent agents nationwide, regardless of their affiliations.”
—Elizabeth Schenk
Regional Executive Vice President
Renaissance
“[The INA is] a collaborative environment where networks can discuss how to adapt traditional operating models to meet the evolving landscape of our industry.”
—Mike Strakhov
Senior Vice President and
Agency Banking Market Leader
Westfield Bank
“Overall, the INA conference proved to be an invaluable investment for our business, offering unparalleled access to industry leaders and emerging technologies.”
—Nicholas Petrocelli
President
ASNOA
This focus will take center stage at the upcoming annual Insurance Networks Alliance meeting, slated for January 27-29 in Phoenix, Arizona. The conference will feature targeted education and, most importantly, peer-to-peer learning—an integral part of INA’s value. The location for the event will be The Sheraton Phoenix Downtown.
Owners and senior management of professionally managed networks, insurance carriers, wholesalers and program administrators seeking distribution with insurance networks, and service providers with solutions for insurance networks can learn more about attending the upcoming meeting at www.networksalliance.com.
The author
Ray Scotto is executive director of the Insurance Networks Alliance.
