PIMA Insights Magazine - Fall 2021 by PIMA

nsights iinsights Issue 2, 2021

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President’s

LINKING OUR MEMBERS’

Message

Chris Burke PIMA President

During the past 20 months, leadership roles have changed dramatically. We moved from strategic to tactical decision-makers within days. We made more operational decisions in 2020 than, dare I say, many of us have made in our entire careers. We quickly transformed inoffice systems, call centers, and even processes to fully functioning remote infrastructures—and we did it well. With many of the operational aspects of a remote workforce behind us, a bigger issue requires our focus—the changing dynamics of the U.S. workforce. Our roles as leaders require us to understand employee behavior and how to leverage the best of our employees’ strengths, but what happens when simply retaining good employees becomes our greatest challenge? According to a recent report from McKinsey & Company (September 2021), “‘Great Attrition’ or ‘Great Attraction’? The Choice is Yours’,” a staggering number of U.S. workers have left their jobs in the past six months—15 million workers to be exact. I don’t need to state the obvious impact Continued on Page 4

Generation Z and the Financial Institution Path to Life Insurance

10 How to Construct a Scalable Insurance Infrastructure through APIs

Six Trends Driving the Post-Pandemic FUTURE OF ASSOCIATIONS

IDEAS & EXPERTISE

PRUDENTIAL + ASSOCIATIONS MEETING FINANCIAL CHALLENGES TOGETHER Solutions that help members The Prudential Insurance Company of America has been partnering with Association/Affinity

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Prudential Pathways® seminars are provided by a Prudential Financial Professional with The Prudential Insurance Company of America and are not intended to market or sell any specific products or services. Offering these seminars do not constitute an endorsement of Prudential products or services in any way. The student loan assistance services are provided by Student Loan Benefits, Inc., doing business as Vault. Vault is a third-party provider that is independent from Prudential and its subsidiaries. Student loan assistance services are provided through a voluntary, individually selected program that is not a group insurance product and is not part of any employee benefit plan. Access to Vault student loan assistance services is provided through Prudential Workplace Solutions Group Services, LLC (“PWSGS”). PWSGS is an affiliate of Prudential Financial, Inc. PWSGS is not a licensed insurance company and does not provide insurance products or services and does not provide investment or other advice. © 2021 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, the Rock symbol and Bring Your Challenges and service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide 1027090-00001-00

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Executive Committee President Chris Burke AGIA Affinity

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President Elect Kevin Garvin Gallagher Affinity

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Treasurer Scott Berlin New York Life Insurance Company

Six Trends Driving the Post-Pandemic Future of Associations

Secretary Angela Daisy Value Group Direct, Inc.

Bostrom provides six postpandemic trends that associations will need to address now, and in the years to come. By Ken Monroe

Past President (ex officio) Liz Sheehan Franklin Madison At-Large Director Pamela Moy AMA Insurance Agency

At-Large Director Kara Shipulski Liberty Mutual Insurance

Generation Z and the Financial Institution Path to Life Insurance

Executive Director (ex officio) Ann Dieleman PIMA

Franklin Madison shares insight about Gen Z’s purchasing behavior for life insurance based on its 2021 Life Insurance Engagement Report in collaboration with PYMNTS. By Sally Dickter

Directors Kelly Abeles Prudential Shane Canfield Worldwide Assurance for Employees of Public Agencies (WAEPA) Sean Cox First Consulting & Administration Michael Guglielmo Mercer Consumer Marcia Moore Transamerica Avery Smith Kelsey National Corporation Committee Chairs Executive Committee Chris Burke Nominating Committee Liz Sheehan Finance Committee Scott Berlin Programming Committee Pamela Moy Sponsorship Committee Kelly Abeles Insights Awards Committee VACANT PIMA Insights is the official publication of the Professional Insurance Marketing Association®

35 East Wacker Drive, Suite 850 Chicago, IL 60601-2106 817-569-PIMA (7462) pima@pimainsights.org pimainsights.org

IDEAS & EXPERTISE

Cover President’s Message PIMA President Chris Burke highlights the importance of retaining a skilled workforce in a post-pandemic world and how members should look toward the PIMA community to help foster professional development for teams.

5 Executive Director Message PIMA Executive Director Ann Dieleman addresses commonly asked questions from PIMA members.

12 How to Construct a Scalable Insurance Infrastructure through APIs

Liberty Mutual shares five ways affinity groups can differentiate themselves among partners.

17 Government Departments Issue Notice of Proposed Rulemaking Regarding Air Ambulance Services, Agent and Broker Disclosures, and Provider Enforcement Genova Burns highlights The No Surprises Act—designed to protect consumers from surprise out-ofnetwork emergency healthcare costs.

18-19 PIMA 2022 Winter Insights Conference Reserve your spot today for the premier three-day event.

Bindable shares how creating consumer convenience is fueled by APIs that connect the dots behind the scenes to serve up better experiences on the front-end.

22 A Recap of PIMA’s 2021 Summer Insights Conference

15 Evolving Beyond the Mail List...Bringing More Value to the Table

25 PIMA 2022 Sponsorship Opportunities Available Now

PIMA hosts first successful hybrid event in Naples, FL.

Affinity groups must change the game when thinking what they can 27 bring to the table. A mail list alone 2021 Insights Awards Winners See who took home the gold, silver will not cut it in today’s world. and bronze this year.

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President’s

Message (Continued from page 1)

this disruption has on business. It is profound. And according to McKinsey, many companies simply aren’t taking the time to evaluate why talent is walking out the door. Key highlights from the McKinsey research: • The ‘Great Attrition’ is happening across all industries; • 64 percent of employers expect voluntary turnover to remain elevated or increased; • 36 percent of workers who quit in the past six months did so without having a new job in hand; and • Expanded remote-work options elsewhere could tempt satisfied employees to quit. Leaders, this a defining moment. The report shines light on what employees value most in postpandemic work life, and it’s rather simple; they want purpose and connections. “Employees are tired, and many are grieving,” the research underscores. “They want a renewed and revised sense of purpose in their work. They want social and interpersonal connections with their colleagues and managers. They want to feel a sense of shared identity.”

Business leaders must gather and strategize on how best to retain and keep good employees if we want continued success for our companies. As a CEO, I value the many opportunities available to my team at PIMA. I know my employees further develop their skillset through peer-to-peer collaboration, industry education, ideation, and even competition. It’s an investment I’m willing to make for my team, and even my company. I encourage other PIMA members to embrace the need to help our teams connect and develop into employees who feel valued and excited about their future. As my term as President draws to a close, I want to take this opportunity to thank PIMA’s Board of Directors and committee chairs for their support. I have witnessed the contributions of time and expertise our volunteers have provided this past year, and I have been reminded several times this year why I belong to this great community. I would like to especially acknowledge Past President Liz Sheehan, Incoming President Kevin Garvin and Executive Director Ann Dieleman for their insights and friendship during my term. It has been an honor serving as PIMA President. I look forward to seeing this organization continue to prosper and grow in the years ahead. You can reach Chris Burke at cburke@agia.com.

From the

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EXECUTIVE DIRECTOR Ann Dieleman PIMA Executive Director

Hello from Kansas City! The year seems to be going by quickly. Normally, I’d like to slow down time yet now it means we’re that much closer to a fully inperson conference. Several PIMA members were able to convene last month at InsureTech Connect. We shared a similar sentiment in how good it felt to see everyone and how exciting it was that the full community would soon be together. As we plan for a new year and fresh starts in 2022, I wanted to extend my gratitude for your continued input on how we can continue to shape PIMA to be of most benefit to you. One of the key feedback loops we use is ongoing member surveys– We appreciate your input! While we can get directional feedback with a 10% response rate, we’d love to hear more voices. Two key findings from the 2022 member survey we wanted to share with you include: 1. PIMA’s Net Promoter Score (NPS). This metric provides the core measurement for customer experience. Many of you may use in your own organizations and PIMA does, too. While we’re exceeding both the insurance and association averages we continue to seek ways to improve (see Figure 1).

2. Areas of Importance. These help our Programming including conference sessions, webinars, magazine feature articles, monthly blogs and more (See Figure 2). We also get great inquiries from members throughout the year. Here are some of the most frequently asked questions. If you have one of your own, we’d love to hear from you at membership@ pimainsights.org. Can you send me a current PIMA member directory? To better serve members, in 2019 PIMA migrated to an online member directory. You can find it here. The web site is mobile responsive and works well on all devices. I work for a PIMA Member Organization. Am I considered a member? Membership is by company and includes up to 10 rostered individuals. Rostered individuals receive full member benefits including access to the online PIMA Community, publications, and invitations to exclusive member events. If you aren’t on the roster, yet still work for a Member Company, you may register for conference at the member rate.

Statista reported in 2021, the NPS for select insurance branches is 27-41. McKinley Advisors reported in 2017, the NPS for associations as a whole is 21.

Figure 1 5

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Figure 2

What safety measures does PIMA have in place for the 2022 Winter Insights Conference? Attendees must be fully vaccinated against COVID-19, or have a negative COVID-19 test within 48 hours of arriving on site. In addition, you can learn more about PIMA’s Safety Measures here. I want to network in advance of getting to a PIMA conference. How do I know who is coming? • Registered Attendees: Approximately 3 weeks from the event in the conference app. New registrants are added daily leading up to the conference. • Non-Registered Attendees: Unavailable I can’t yet travel so what other members benefits can I take advantage of? There are several ways to utilize your membership. A few include: 1. Participate in a Virtual Event. You can find upcoming sessions here. Recordings for many of these can also be found in PIMA’s Online Community. 2. Stay abreast of changes in the industry through PIMA blog articles, case studies monthly eNewsletters and our bi-annual Magazine. Please be sure to mark pima@pimainsights.org and @ConnectedCommunity.org on your safe senders list. 3. Be an active member of the PIMA Online Community. Interact with fellow PIMA members by sharing content or starting a discussion here. 6

I’d like to make a greater impact in the industry and PIMA community. What volunteer opportunities are available? 1. Judge the Insights Awards- To learn more or to volunteer submit your name here. 2. Contribute to a guest-contributed article, blogs, or columns –We’re always seeking members to provide industry knowledge. Email membership@pimainsights.org if you would like to participate in PIMA’s 2022 knowledge hub. 3. Join a Committee, Lead an Advisory Forum or help with the Legislative & Regulatory Interest Group – Each year we look for members to serve in leadership roles. Reach out to us at membership@pimainsights.org for a 20-minute meeting to help you find a good fit. 4. Chair the Conference– Conference Chairs serve on an annual basis and plan both the Winter Insights and Summer Insights conferences. To submit your name for 2023, contact us at membership@pimainsights.org. Some say the difference between an obstacle and an opportunity is our attitude toward it. Thank you for your positive outlook, your steadfast support of the industry and your ongoing commitment to PIMA these last few months. I’m excited to celebrate a new year with you in January! You can reach Ann Dieleman at ann@anndieleman.com.

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Six Trends Driving the Post-Pandemic

FUTURE OF ASSOCIATIONS Ken Monroe Chairman and Chief Executive Officer Bostrom

Pre-pandemic, the association world was already feeling the impact of a changing market dynamic with technology advancements, millennials and Gen Z changing the membership landscape, and digital strategy’s effects on delivering value. What we saw the last 18 months was a hyper focus on business models, digital strategy and the member experience caused by the disruption brought on by COVID. As an association management company running 30 organizations and a consulting firm for large associations, Bostrom had a unique perspective into the transformation occurring and the change to the speed at which our agility had to perform. We’ve identified the six post-pandemic trends that associations will need to address now, and in the years to come.

BUSINESS MODEL TRANSFORMATION: CUSTOMER FOCUS In an ever-transforming environment, associations have had to take a hard look at their business

models and organizational structures needed to support new definitions of value to their customers (meaning members, potential members, and stakeholders). We’ve used Alexander Osterwalder’s Business Model Canvas as a valuable template for working through the process—from business model innovation to implementation. Associations are redefining their “value” and how they are going to market and deliver it to their customers in the post-pandemic world. This entails understanding their customers’ pain points, how they can uniquely solve problems for individuals, companies, and an industry or profession, and build products and services with a newly envisioned customer journey. These new models have escalated the use of new technology platforms, integrated marketing strategies, and organizational structures that leverage partners, and outsourcing in innovative ways. All of this is happening while action-oriented DEI strategies and social impact initiatives are transforming the cultures within associations. Some 7

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of this disruption is long overdue; a lot of this “transformation driving” is what associations were built to do since their humble beginnings.

VALUE AND MEMBERSHIP: A SYMBIOTIC PARTNERSHIP For associations, the definition of value has always been aligned with the mission they were created to advance. Industry leaders, students, professionals, and academia have all come together for a common purpose: to have an impact on society through their missions. It is this underlying passion for a particular cause that brings members to the table to work together. Benefits of this type of collaboration have included career advancement; social impact in areas of patient care; industry advancements and sustainability and the incredible benefit of belonging to a community where you can build invaluable, lifelong relationships. Where associations veer off-course is in focus. A laser focus on their mission and the aligned unique value they can deliver to its customers has to be at the core of the business model. The challenge is that associations are filled with passionate volunteers who sometimes bring bias and agendas that can derail value delivery, along with the business model itself. They hold on to old programs and services no longer providing value for too long, are risk averse to trying new things, and their rotating governance model just adds to inconsistency. Using data to help drive tough conversations has been an effective approach. Missions don’t often change but value definitions and the products and services that deliver on that value proposition have transformed immensely and must continue to evolve to meet customers’ changing needs. Value is at the heart of membership growth and retention and always has been. Understanding stakeholder pain points, opportunities, wants and needs, and jobs they need to get done, is at the heart of developing a strong business model and product offerings to attract and retain members.

ASSOCIATIONS USE OF INFLUENCERS When we talk about a value and customer experience centered business model, associations have a strong, long-held advantage in creating, delivering, and marketing value. Hidden within association members, and the connections of those members, lies incredible access to influencers. Pioneers of professions and industries are at the 8

heart of how and why associations were created. The founders and leaders within associations are usually celebrated, admired, even worshiped by members young and old. With mobile first and enhanced social media strategies, the opportunity for associations to connect with these influencers to grow membership, meeting programming and attendance, and content/ education creation is endless. Influencer strategies like these are inexpensive, usually free, and will be a much larger part of association integrated marketing strategies in the future.

AFFINITY PROGRAMS Non-dues revenue generation has been a key focus of association business models for many years. This comes in the form of education, credentialing, thought leadership/content products such as white papers and research, educational meetings and events, and affinity products. During my tenure as COO of the American Medical Association (AMA), our goal was to add value for AMA members by repositioning the association with a fiscally sound, market-based strategic plan. We reduced the AMA’s reliance on member dues providing bottom line results by substantially increasing non dues revenue. How? All AMA assets were inventoried and monetized. New products and services that members wanted were created. The desired and actual result was that member dues was reduced from a majority to one-third of our total revenues, with non-dues revenue growing to two thirds of AMA’s revenue base. And affinity products were a key part of our non-dues revenue budgets. Our affinity strategy was based on member research, focus groups, and being on the lookout for new players and products in the affinity space who could deliver what our customers were seeking or needing. The objective was always to align the affinity programs with members’ needs and the AMA’s mission. Associations are inundated with product choices now, so the focus is on new requirements: • Alignment with what members view as value or pain point resolution for them • True price advantages • The brand and reputation of the provider especially in terms of social impact and Corporate Social Responsbility • True ROI for the association, comparing the revenue potential to the association staff and dollars time investment of the program

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• •

The affinity partner is a true partner in marketing efforts The affinity partner understands and delivers on clear lines of data privacy and protection Ability to pilot a program before a full contract and launch Alignment with association mission and value proposition

Associations collect massive amounts of data, and using that data to identify successful affinity programs is an integral part of generating a new business model. Data such as age, geographic location, self-employed (gig) workers, DEI demographics, interests, social channels, education, credentials, etc. will help to identify what products will be inclusive and resonate. If members have a ”sticky” (as opposed to transactional) relationship and are loyal to the association, then an affinity program stands a much better chance of competing with mass market availability. Building that unique differentiation and communicating the benefit to their association’s customers with passion and purpose will drive new avenues of products and services, and ultimately non-dues revenue.

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have with their customers with the customer journey map to outline and align digital strategy to customer experience. Gen Z is already influencing how business is done and how it will be done in a massive way. They know nothing else except one-click purchases, videos to educate them on anything they want to know, voice-activated TVs and search, and they are connected 8+ hours per day online using multiple devices. Associations must completely rethink their technology stacks to support these behaviors and expectations and incorporate a solid digital strategy with a positive customer user experience to their new business model. In terms of value delivery, loyalty programs and personalized experiences will become the norm along with mobile first UX, one-click joining and registering, voice activation, and accessibility. Bostrom’s role as an association management company is to identify these trends and incorporate new strategies and models into our own company and our services to our association clients. Associations can take advantage of their unique positions to advance their missions and cause-related activities by addressing these six trends in creative, innovative, and tailored ways.

GEN Z & MEMBERSHIP A recent book entitled ZCONOMY: How Gen Z Will Change the Future of Business – and What to Do About It by Jason Dorsey and Denise Villa, PhD, is a must read for any business professional and association leader. Associations, if they can up their mobile, social, and digital game, are well positioned to appeal to what next year will be the fastest growing generation in the workforce. What is the good news for associations? Gen Z workers and consumers of products want to connect with organizations that have social impact, that have purpose. Since associations are purposedriven, mission-driven entities, they need to elevate and market their value to reach the hearts and minds of Gen Z, thereby create greater stickiness with their customers. If value, purpose, and mission are communicated effectively and the customer experience meets or exceeds their expectations, Gen Z will join associations.

GEN Z & DIGITAL STRATEGY In recent consulting engagements, we’ve been overlapping the digital touchpoints associations

Members in

TRANSITION BENEFIT Any member who has been part of the member community for 5+ years is eligible to receive up to 12 months of a complimentary membership and discounted registration fees for our semi-annual conferences. Contact Ann Dieleman at membership@pimainsights.org for more information. 9

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Generation Z and the Financial Institution

PATH TO LIFE INSURANCE Sally Dickter Marketing Senior Vice President Franklin Madison Group

Based on the 2021 Life Insurance Engagement Report, a Franklin Madison collaboration with PYMNTS that collected and analyzed 2,326 survey responses: Generation Z consumers are most likely to look to their financial institutions, financial advisers or FinTechs to seek life insurance product information and gain access to new policies. Financial Institutions now have an unprecedented opportunity to lead Generation Z consumers from underinsured by default...toward the FI as a selfselected source of accessible, affordable, and understandable life insurance. Why are these younger consumers the most open to acquiring policies from sources other than employers or insurance agents? Generation Z employment options and pandemic economics give added value to portability and stability for life insurance. That’s where the enduring financial institution relationship over time adds value and appeal: •

for those taking jobs within the gig economy or within shifting organizational work models

•

for those forging career paths by jobhopping among traditional workplaces without transferrable benefits.

And the single purpose of an insurance agent — to sell insurance — is less appealing than the credibility of existing financial relationships where access to insurance is an added service. 10

Over 70% of Generation Z consumers enter independent adulthood with higher debt than assets, primarily due to student loans that are no longer easily forgiven and may not end with death. So it’s not surprising that the vast majority of Generation Z consumers are interested in learning about life insurance — primarily as part of an overall plan for financial security (43.6%) and to make sure others are cared for (41.5%). Remember that the oldest Gen Z consumers just turned 24, reaching financial maturity amid the pandemic’s vast impact. They respond with a propensity to seek life insurance information independently from non-traditional sources. Perceptions and emotions are powerful drivers in their decisioning, as personal debt and physical vulnerability exceed financial assets and security. The best messaging satisfies the search for financial stability to help them balance income growth and debt relief — with affordable life insurance protection for both. Those who chose not to purchase a policy gave reasons that were essentially the result of exposure to poor — if any — marketing messages, such as a lack of clarity on their life insurance options or concerns about premium costs. Financial institutions can best reach Generation Z consumers to gain share of mind and wallet by clearly communicating affordable life insurance that grows with each life stage.

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Create awareness for Generation Z shoppers that — the opposite of their auto insurance — life insurance rewards youth with higher underwriting approvals and lower rates that can be locked-in for many years or a lifetime.

1. Integrate emails with direct mail to drive leads to your platform and add tangibility to an intangible promise of protection

Effective marketing both educates and motivates by translating complex policy features into what’s-in-itfor-me benefits. This empowers informed decisions to self-select value propositions that sync with budgets and needs by:

3. Show website answers to frequently asked questions that deliver facts and debunk myths

•

offering a targeted range of choices at the initial transaction, from lowest conquest price to highest aspirational coverage

•

keeping entry level coverage aligned with growing income through upsells, cross-sells, and convertibility.

Our research shows that Generation Z consumers prefer to discuss their life insurance choices with a person before purchasing, even when the initial decision process runs through digital channels. Dismiss the stereotype of younger consumers who are consumed with digital media. Create 6 multi-media touch points along their life insurance journey.

Marketing

Member Solutions

2. Offer great ease of pre-purchase online comparison shopping at the quote stage

4. Leverage digital educational content, blogs, and customer ratings that can be stronger influencers than A.M. Best or financial ratings alone 5. Engage through chat, text, or phone options that put the customer in control of the conversation 6. Then segue to offline agent engagement for qualifying and purchasing. Now is the moment to seize for financial institutions who want to build deeper relationships with these desirable and receptive consumers. Message relevant coverage in appealing media — speaking to their strong needs for simplicity, security, and affordability — to move those Generation Z young adults from intent and interest to life insurance engagement and purchase.

Administrative Services

Professional Liability Savings and Discount Programs

Personal and Commercial Insurance

Kevin Garvin President, Affinity - North America Arthur J. Gallagher & Co. +1 (630) 285-3802

Association Management and Compliance

Health and Wellness

www.gallagher-affinity.com 11

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How to Construct a Scalable

INSURANCE INFRASTRUCTURE THROUGH APIs Bill Suneson Co-Founder & CEO Bindable

You may have heard the expression, “when you are a hammer, everything is a nail,” and, for a long time, that sentiment has summed up insurance technology. The industry has traditionally funneled customers into a purchase flow that prioritized the needs of the company, not the needs of the consumer. But now, as better digital experiences have become table stakes, it’s time for insurance leaders to go back to the toolbox and build what customers expect and deserve: transparent, convenient, and relevant insurance offers.

on customer retention, convenience should be considered the lowest of the low hanging fruit.

According to our recent research, 64% of consumers would leave their current insurance company for one that offered more convenience. This shouldn’t be that surprising, especially in today’s digital-first environment.

In fact, APIs are so critical to Amazon’s success that in 2002 Jeff Bezos reportedly sent a memo to Amazon employees mandating that all teams must “expose their data and functionality through service interfaces.” He ended that memo with, “Anyone who doesn’t do this will be fired. Thank you; have a nice day!” That was almost 20 years ago, and yet we are only just now starting to see more and more about the API economy in the insurance space.

Just look at Amazon - they didn’t get to 153 million Prime members in the U.S. just by selling books. Instead, they figured out how to increase shopping efficiencies — such as fast and free shipping, one-click purchases, and saved payment information — that far surpass the capabilities of even their closest competitors. So, for every insurance company that is trying to crack the code 12

Creating consumer convenience is fueled by APIs that connect the dots behind the scenes to serve up better experiences on the front-end. Amazon was built on APIs, allowing the brand to position themselves in the middle of an ecosystem surrounded by all the components of retail (products, merchants, shipping, payments) to initiate a seamless consumer experience.

To truly have a digitally enabled insurance ecosystem, connections among technology platforms, insurers, brands, agents and consumers

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must be streamlined through APIs. Once this happens, better value will be created for all involved through the secure sharing of data. For instance, consumers who go to acquire a mortgage can now be offered homeowners insurance and a home warranty through an API integration between the financial institution and the insurance provider. Or those that sign a lease for an apartment can now be offered renters insurance or other types of coverage that make sense at the time of purchase through API enabled partnerships between a realtor and carrier. Considering that 65 percent of people are willing to purchase insurance from a non-insurance brand, these types of interactions just make sense. Consumers don’t always want or need to look to carriers directly for help with their insurance needs. They just want the coverage they need, when they need it, without extra steps and research; they want convenience. The challenge that remains in our industry is that

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the value chain is only as strong as its weakest link. If consumers have a quick and easy purchase process but updating their address, filing a claim, or other interactions are difficult, then we are still not providing the best possible customer experiences, especially as compared to other sectors (which ultimately set the performance bar for all interactions). We need all parties in the insurance journey to invest in digitizing their products and services in order to truly capitalize on the benefits of an API-driven ecosystem. There is so much potential to take the onus of discovering and buying insurance away from the customer and streamline the entire process, but it all starts with enabling systems to talk to each other via APIs. Businesses without a clearly thought out approach to APIs will ultimately discover it’s tough to survive in this new iteration of our industry. Perhaps we should start thinking of APIs as our hammer and opportunity as our nails.

All members are not the same, but they share one thing. An affinity toward their organization. The one they belong to. The group that shares their passion.

For more than 60 years, AGIA has served as the marketing and administration partner to some of the country’s largest and most iconic associations and organizations.

As a non-profit formed For Feds, By Feds, we understand what it takes to help provide peace of mind. For more information contact:

G. Scott Whitaker, Senior Vice President, Business Development

peace of mind. SWhitaker@AGIA.com ▲ (C) 615-496-7803 ▲ www.AGIA.com

Visit waepa.org to learn more.

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Our Customers Always

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BRINGING MORE VALUE TO THE TABLE Kara Shipulski Vice President, Sr. Managing Director Liberty Mutual Insurance

Twenty-five years ago when I first entered the space of co-branding and co-marketing, the premise was rather simple. One partner had a product they wanted to sell to customers and the other partner provided a mail list to market that product to. In many cases, it was transactional in nature. Company A paid either revenue for the list or for the production and Company B did all of the marketing, distribution and servicing. These niche mail lists provided access to customers a company couldn’t buy through other means. Response rates were solid and follow-up activities like outbound calling were used to provide an overall lift in results. Flash forward to the current day and things have changed dramatically. The advertising arms race is a real thing with many industries. The insurance company as an example is one of the largest sectors of TV advertising. Do-not-mail and calls lists have proliferated to a point where consumers have control of who, how and if they get contacted. Companies like Experian and Axciom have built up their businesses with massive databases of U.S. households to make it easier for companies to buy directly from those organizations instead of through multiple partnerships. In these transactional relationships, many organizations stack up the leads generated from these programs and rank them against other marketing leads in the broader digital, mass market direct mail and aggregator space to determine which have the higher return. Affinity groups must change the game when thinking what they can bring to the table. A mail list alone will not cut it in today’s world. Here are some ways affinity groups can bring value to the table to differentiate themselves among partners.

1. Think about changing the model and owning more of the value chain. The simplest example of this is companies that move beyond lead gen agreements to distribution agreements to selling the product. In many industries such as insurance there are regulatory requirements. Companies can partner with intermediaries to act as their “rented agency.” Now this transformation isn’t for everyone and does take investment but companies with strong brands may decide it’s worth the effort. An example of this is Amazon’s recent announcement about selling small commercial insurance to their thirdparty sellers in the US. 2. Digital value is king. One of the easiest areas of digital to execute is email. Email programs add immense value to any partnership. The reality is, that for many members or consumers, this is how they expect to hear about these programs. However, the experience matters. Making the experience simple and seamless is critical as most emails are viewed on mobile devices. Streamlining the process will increase throughput and offer your member a better experience. Email is not the only way you can engage digitally; think about your current ecosystem and how this offer could easily assimilate into it whether it be through an app or member sign up or renewal process. 3. Unique and clean data. In many cases basic information around name and address are readily available through general data sources. Think about the data you collect on your members or consumers and how that might be 15

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predictive in response to purchasing a partner’s data. Of course, with data privacy being a key pillar, think about how you might use this more effectively in your partnership. Data hygiene is an investment worth making to ensure your data will truly bring more value to your partnership. 4. Deepen the relationship in your company. Moving beyond the transactional nature of your partnership means building strong connections with both companies at all levels. The value of a relationship has so many opportunities beyond the lead. For partner organizations, there are areas around innovation, culture, DEI and advocacy, which could have intrinsic and strategic value for both organizations.

Partnerships still can bring a lot of value to companies even in the age of mass marketing; however, you must be willing to think and act differently. This might mean prioritizing partnerships with stronger brands and companies willing to go “all in.” Affinity programs with strong brand attributes still bring higher returns and retention over mass marketing programs, but they must evolve to keep pace with data trends, emerging technology, and the rapidly changing consumer mindset.

Mark PIMA on

5. Think broader. In many cases, a partnership starts with one product and may expand to others. The more products you have with a company, the more value you bring. This expansion doesn’t have to come in the form of other products in the US, you can also expand globally. For companies that offer programs or products outside the US, it’s another way to add value to the table.

YOUR SAFE SENDER LIST Are you receiving PIMA electronic communications? Are you receiving your weekly Community Digest? Please be sure to mark pima@pimainsights. org and @ConnectedCommunity.org on your safe senders list.

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Government Departments Issue Notice of Proposed Rulemaking

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REGARDING AIR AMBULANCE SERVICES, AGENT AND BROKER DISCLOSURES, AND PROVIDER ENFORCEMENT Lauren W Gershuny Counsel Genova Burns With contributions from Katherine Szabo, Counsel, Genova Burns.

The No Surprises Act, signed into law on December 27. 2020, is designed to protect consumers from surprise out-of-network emergency healthcare costs. To implement the law’s protections, agencies including the Office of Personnel Management and Departments of Labor, Health and Human Services, and Treasury recently issued a Notice of Proposed Rulemaking that, if passed, would create new reporting requirements for air ambulance services and compensation provided to agents and brokers. The No Surprises Act will go into effect for health plans beginning on or after January 1, 2022, impacting almost all private health plans offered by employers, as well as non-group health insurance policies. The Act establishes many provisions to protect consumers, including a prohibition on out-of-network providers demanding payment of excess charges from patients. Similarly, health plans must cover surprise bills at in-network prices regardless of prior authorization. The Act specifically contemplates air ambulance transports as an emergency service that burdens consumers with surprise charges. Agencies such as HHS and Treasury have spent the last few months releasing regulations to ensure the Act’s requirements are met by the insurance and healthcare industries, culminating in the most recent rule focused on air ambulance services. In an emergency requiring air ambulance transport, a patient’s inability to consider and select an in-

network provider frequently results in unexpected medical bills. The Government Accountability Office found in 2019 that over two-thirds of air ambulance services were out-of-network, resulting in median bills between $36,000 and $40,000. Despite this study, the agencies acknowledge that there is a lack of useful data aabout the air ambulance industry. To fill that gap, the proposed rule requires plans, issuers, and providers of air ambulance services to disclose data for each air ambulance transport and claim in the two years required by the No Surprises Act. HHS and Treasury will use this data to prepare a report on the state of the air ambulance market for public review. The report will include the average charges for air ambulance services, the frequency of patient balance billing, and amounts paid by plans, issuers, and individuals for air ambulance transports. The proposed rule also includes new disclosure guidelines regarding compensation paid to agents and brokers that enroll individuals in health insurance coverage, including short-term, limited-duration coverage. Issuers will be required to inform policyholders of this compensation before they enroll in or renew a plan, then again on documentation provided after enrollment. Disclosure should include commission rates and compensation, both direct and indirect, paid to the agent or broker that enrolls the individual. Under the rule, issuers will also have to report to HHS the total amount of direct and indirect compensation paid to the agent or broker in the preceding year. The agencies are accepting comments on the proposed rule until October 18, 2021. The rule also establishes penalties for providers of air ambulance services that do not comply with reporting requirements. Failure to submit the data required by the No Surprises Act could result in civil monetary fines up to $10,000. 17

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January 27 – 30, 2022 Naples Grande Beach Resort Naples, FL

PIMA 2022 Winter Insights Conference Keynote Speakers Keynote Address: Using Human-centered Insights to Grow Business

Josh Levine

Cake & Arrow kicks off day 1 of Winter Insights with an interactive session addressing the changing dynamic between employers and employees, and the attitudes and expectations around work and employee benefits. Founder Josh Levine and his team will share research on the evolving nature of work and relationships, and how insurance companies can proactively respond to these shifting dynamics while driving customer centricity in their own digital transformation. 18

Keynote Address: The Connected Leader

Colette Carlson

Successful, effective leaders recognize the need to authentically connect on a human level, whether virtually or in-person, to create influence and impact. Connected leaders model courageous behaviors that create a culture of clarity, transparency, inclusion, and accountability, even in the most challenging times. In this engaging, uplifting, and research-based program, attendees will master their ability to communicate and connect on deeper levels, creating an environment where people thrive.

Networking and Business Development 15+ available hours to network, connect with peers and build relationships, including: •

Welcome Reception

•

Charity Golf and Poolside Outing

•

Networking Breakfast Breaks and Lunch

•

Closing Celebration

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Peer Advisory Forums January 27, 2:30 p.m. – 4:00 p.m. PIMA members will want to take advantage of this unique member benefit and plan their travel to the upcoming Winter Insights with the forums in mind. The forums give you an opportunity to share thoughts and ideas with other executives and partners across the industry, specifically focused on the unique topics most relevant to your member type.

Agency CEO – Invitation Only CEO forum attendees have greatly benefitted from the new tools, techniques, and resources shared as best practice insights by fellow CEOs. Making these sessions even more valuable has been follow-on conversations in subsequent CEO forums by attendees who’ve implemented some of them. If you have specific topics you would like to address, please contact Forum Facilitator Chris Burke at CBurke@AGIA.com.

Business Partners If you have specific topics you would like to address, please contact Patrice Nolan at patrice@competiscan.com.

Distributors If you have specific topics you would like to address, please contact Forum Facilitator Jean-Marie Lovett at jmlovett@bindable.com.

Product Providers If you have specific topics you would like to address, please contact Forum Facilitator Kara Shipulski at kara.shipulski@LibertyMutual.com

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WE SEE THE POSSIBILITIES. The Hartford has over 50 years of direct marketing experience in the Association marketplace.

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PIMA Hosts

First Hybrid Conference PIMA hosted its first hybrid conference June 22-25 and was a great step forward to in-person meetings. Summer Insights had a great speaker lineup that covered a host of topics from leading teams to DEI to return-to-office plans to Insights Awards highlights. Plus, we hosted our popular networking events and even added in some great entertainment to make for a successful event.

Speaker Highlights Keynote Speaker Alan Stein, Jr. kicked off the Conference addressing the strategies required for leaders to influence others and build Unbeatable Teams. Alan stressed good leaders have selfawareness and a “It’s not about me; it’s about you” mentality. Good leaders are aware of their strengths as well as their opportunities for growth, and they don’t make excuses. He also focused on two key areas of leadership we can control which are effort and attitude. “We need to choose to give our best effort as consistently as possible,” Alan says. He added, “Leaders need to choose a response with great intention in order to move their teams forward.” PIMA Board Member Avery Smith of Kelsey National led a panel discussion addressing Leading and Engaging Difference with Jennifer Ralls, PhD of GraySpace, Inc. and Mari-Ann Kehler of GHJ. The panelists addressed DEI and discussed who within an organization “owns” DEI initiatives. “A leader has to push it and model it,” says Jennifer. “And so often it’s put in the hands of HR or personnel, but it’s not about employee experiences.” Mari-Ann agreed and stressed this wakeup-call moment for companies to embrace DEI because it just makes good business sense, “Statistics show, more diverse organizations outperform their less diverse peers,” she added. Legislative & Regulatory Interest Group Chair Sean Cox interviewed Louisiana Insurance Commissioner James Donelon regarding The Pennsylvania SHIP receivership case, the coming long-term care insurance crisis, and threats to state-based regulation and Hurricanes in Louisiana. 22

2021

Summer Insights Conference June 22-25, 2021

A Hybrid Experience InterContinental New Orleans | Virtual

Return-to-office plans look differently for each company. Kristi Fox of Securian Financial and Robert Dudacek with Franklin Madison gave attendees a peak at their return-to-office (R2O) plans in the session The New Norm—How Companies are Returning to the Office. Kristi gave insight into Securian’s “reboarding” process and shared the value of connecting in the office face to face. “We believe—and know—from experiences pre-pandemic that connecting in person is valuable for career milestones and enterprise connections.” Robert reported that Franklin Madison looked at three primary areas in their R2O plans: functional requirements; team member consideration; and target culture. He pointed out the timing was right for discussions about culture saying, “Rarely do you have a chance for an established company like ours to think, ‘What kind of culture do I want to create?’” Bodden Partners, Forrest T Jones, Prudential shared tactics, thought processes, challenges and successes from their entries from the 2021 PIMA Insights Awards. See which members took home the bronze, silver, and gold awards at Insights Awards on page 27. In his closing keynote Press the Damn Button, digital futurist Brian Fanzo stressed the importance of companies building trust with customers. “People don’t trust logos and brands; they trust people,” Brian said. He challenged attendees to think about a mindset shift on embracing trust and market relatability, and stay true to who we are.

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Partnership that helps provide protection and peace of mind. How does your insurance program size up? In the world of insurance, one size does not fit all. That’s why Alliant Insurance Services oﬀers a comprehensive portfolio of insurance products and administrative services designed to fit your needs. It’s a tailored approach that will keep your bottom line looking sharp. • • • • • • •

Property and Casualty Employee Benefits Consulting Voluntary Benefits Administration COBRA Administration Workers’ Compensation Financial Products and Services Association/Union Benefit Administration

We partner with you to provide expertise, guidance, and member benefit plans that can help your clients’ members guard against the unexpected and be better prepared to face the future. Discover MetLife’s comprehensive benefit solutions Offering your members a broad suite of products can help keep members engaged. Our customer-focused solutions include: Term Life | Accidental Death & Dismemberment | Disability | Dental | Vision Business Overhead Expense | Auto and Home* | Legal | Pet | and more To learn more about all that we have to offer your clients and their members, contact Paul Piechnik, Vice President of Sales, at ppiechnik@metlife.com or call 908-253-1010. Like most insurance policies, insurance policies offered by MetLife and its affiliates contain certain exclusions, limitations, exceptions, waiting periods, reductions and terms for keeping them in force. A MetLife representative can provide you with costs and complete details. Insurance products and services provided by Metropolitan Life Insurance Company and its affiliates. Certain claim and network administration services for vision coverage are provided through Vision Service Plan, Rancho Cordova, CA (VSP). VSP is not affiliated with Metropolitan Life Insurance Company. *Important Notice: The Farmers Insurance Group® has acquired the MetLife Auto & Home business from MetLife, Inc. Therefore, the MetLife companies are no longer affiliated with MetLife Auto & Home and are no longer responsible for any of MetLife Auto & Homes’ activities. The Farmers Insurance Group will be responsible for your policy and its administration going forward. MetLife Auto & Home is a brand used by Metropolitan Property and Casualty Insurance Company (a MA licensee) and certain of its affiliates: Economy Fire & Casualty Company, Economy Premier Assurance Company, Economy Preferred Insurance Company, Metropolitan Casualty Insurance Company, MetLife Auto & Home Insurance Agency, Inc., Metropolitan Direct Property and Casualty Insurance Company (CA Certificate of Authority: 6730; Warwick, RI), Metropolitan Group Property and Casualty Insurance Company (CA COA: 6393; Warwick, RI), and Metropolitan Lloyds Insurance Company of Texas, all with administrative home offices in Warwick, RI. The Farmers Insurance Group® has purchased all the entities described above. Farmers did not purchase Metropolitan General Insurance Company.

David Hudon 203.568.8229 dhudon@alliant.com

GROUP LEGAL PLANS provided by MetLife Legal Plans, Inc., Cleveland, Ohio. In certain states, group legal plans are provided through insurance coverage underwritten by Metropolitan Property and Casualty Insurance Company and Affiliates, Warwick, RI. Some exclusions apply. Please see Plan for coverage and exclusion details. PetFirst Healthcare, LLC, a MetLife company, is the program administrator authorized to offer and administer pet health insurance policies underwritten by Independence American Insurance Company, a Delaware insurance company, with its main office at 485 Madison Avenue, NY, NY 10022. For costs, complete details of coverage, and a listing of approved states, please contact PetFirst Healthcare, LLC. Like most insurance policies, insurance policies offered by PetFirst Healthcare, LLC contain certain exclusions, exceptions, reductions, limitations, and terms for keeping them in force. Metropolitan Life Insurance Company | 200 Park Avenue | New York, NY10166 L0121010559[exp0123][All States][DC,GU,MP,PR,VI] © 2021 MetLife Services and Solutions, LLC

SAVE THE DATES!

January 27-30, 2022

Customized

2022 Winter Insights

Conference

Program Design & Marketing Powered by Data

Naples Grande Beach Resort Naples, FL

June 21-24, 2022

Aon Affinity custom designs insurance programs for associations and a variety of affinity groups.

Conference

Our proprietary data and analytic insight are powerful tools which build trust and meaningful partnerships.

The Westin Savannah Golf Resort & Spa Savannah, GA

We help more than 300 sponsor partners meet the unique needs of their members, customers and affiliates, every day.

2022 Summer Insights

Aon Affinity employs a blend of digital and traditional direct arketing, e-commerce, and social media to attract, engage, and retain customers.

Jan 31 - Feb 4, 2023

2023 Winter Insights

Conference Hotel Del Coronado Coronado, CA

1.877.256.6215 | www.aon.com/affinity

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2022 Sponsorship, Marketing & Advertising Packages Showcase your company in front of the top influencers in the insurance industry. For more information or to secure an opportunity contact Ramona Hopkins at 817-569-7462 or sponsorship@pimainsights.org.

PREMIER

Sponsorships

$25,000

(1 of 2 available)

PLATINUM $15,000

$10,000

GOLD

SILVER

(5 of 9 available)

(3 of 10 available)

(5 of 12 available)

$5,000

Conference Experience Session Moderator Reserved table at Closing Celebrations All conference registrations at early bird rate Early access to networking app Board & Sponsor Recognition Reception Invite

(4)

(3)

(2)

(1)

Winter Insights Registration

(3)

(2)

(1)

Summer Insights Registration

(3)

(2)

(1)

Event Recognition Conference Welcome Table Sponsor Logo on conference promotional materials Reserved conference networking space Profile conference video Conference signage Conference mainstage recognition Logo on conference app Logo on event presentations

Marketing & Advertising Banner Ad in All Member Community Spotlight in one Insights eNewsletter Spotlight on PIMA social channels Profile Video in All Member Community Enhanced Directory Listing Ad/Advertorial in each Insights Magazine (full page)

(1/2 page)

(1/4 page)

(4 locations)

(3 locations)

(2 locations)

Logo on monthly Insights eNewsletter

Sponsor badge for company website & digital communications Logo/link on PIMA website (1 location)

PIMA sponsors agree to not hold any competing events or receptions during the scheduled sessions and events of the 2022 Insights Conferences. Other than private dinners, any outside events hosted by a PIMA sponsor must be approved by PIMA in advance.

For more information contact Ramona Hopkins at 817-569-7462 or sponsorship@pimainsights.org

Here for families when they need us most Every individual and family we serve is important to us. That’s why we offer customized protection solutions that meet your organization’s membership needs. And we’re committed to providing caring and compassionate service to help families during the most difficult and stressful of times.

How can we help you? Visit securian.com

Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries.

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2021 INSIGHTS

AWARDS WINNERS Best of PIMA | Self Promotion/ Branding/Awareness

Judges Choice | Solicitation for GuaranteedIssue/Simplified-Issue Product

Category 1 | Lead Generation Silver

Gold

Category 2 | Solicitation for Guaranteed Issue/ Simplified-Issue Product

Bronze

Silver

Gold

Bronze

In collaboration with AGIA Affinity

Category 3 | Solicitation for Underwritten Product Silver

Gold

Bronze

Category 4 | Customer Cross-sell and Upgrade Marketing Silver

Gold

Bronze

In collaboration with Amwins

Category 5 | Conservation/Retention Gold

Silver

Bronze

Category 6 | Self Promotion/Branding/Awareness Silver

Gold

Bronze

In collaboration with Texas Medical Association Insurance

Call for 2022

INSIGHTS AWARDS JUDGES The PIMA Insights Awards Committee is looking for three judges to review submissions for the 2022 Insights Awards. Serving as a PIMA Awards judge is a unique opportunity to: • Be exposed to campaigns in the sponsored benefits market • Receive recognition as a judge • Collaborate with industry peers • Contribute to excellence by selecting and celebrating the best campaigns

To volunteer, submit your name here. 27

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THANK YOU TO PIMA’s 2021 SPONSORS PREMIER

PLATINUM

GOLD

SILVER

EVENT