Next Generation Insurance Blog

Observations from the 2013 PIMA Mid-Year

By: Paul Pennelli

The Professional Insurance Marketing Association held its Mid-Year meeting last week in beautiful Southampton, Bermuda and I was fortunate enough to attend, along with my colleagues Bill Suneson and Yasmeen Ramadan. The PIMA Mid-Year is always a great event for NGI Group. Not only does our team have an opportunity to spend time with our valued insurance partners, but the event’s content is focused on technology and marketing every year, making the conference an ideal fit for our core focus at NGI.

Primary Take-Aways

  1. Uncertainty around healthcare legislation is high, even amongst industry experts.
  2. Big Data gains traction as a tool to improve marketing results and customer experience.
  3. Benefit products are big, with providers and marketers looking to enhance their existing insurance filings.
  4. Multi-channel marketing continues to become more common and effective for insurance and benefit products.
  5. Affordable Care Act provides a massive opportunity for marketers, in the form of private exchanges and other relevant distribution tactics.

Keynotes & Sessions

The content at the PIMA Mid-Year was exceptional; PIMA President Sam Fleet and event chairs Al Drowne, Suzanne Nowers, and Eddie Klayman did a very nice job at curating a diverse set of speakers and panelists.

Friday’s keynote was delivered by AXIS Capital CEO & President Albert Benchimol, who spoke at length on state of the insurance industry and regulatory risk and offered a clear perspective on the challenges facing the industry. Other content included a deep dive in the regulatory environment in Washington, as well as the role that Big Data should play in targeting content and offers directly to consumers:

 

Saturday’s program featured an interesting panel on benefit and discount programs, including remarks from Brett McLaughlin of Global Travel Plus and Adrea Rubin of Adrea Rubin Marketing. Later in the day, I attended the multi-channel marketing track. Cathy Colburn on AMWINS and Shannon Warner of AIG Benefit Solutions, among others, shared results from some of their multi-channel marketing campaigns. I was struck by how focused both results sets were on web analytics and engagement metrics.

 

 

Attendees

According to numbers released at the Mid-Year, affinity marketing efforts represent $60B in premium and a bit less than $10B of that figure was represented by the companies in attendance in Bermuda. As a result, the amount of networking and business conducted at the conference was very worthwhile for our team at NGI.

 

Learn more about PIMA and how the organization’s future conference schedule is shaping up. I can’t think of a better setting for a conference than Bermuda; we’re eager to integrate these ideas in upcoming initiatives here at NGI.

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