My business partner John Fees and I launched Next Generation Insurance Group (NGI) in Boston in 2009 and our primary focus was using technology to transform affinity marketing of insurance. The first insurance industry event we attended was the Professional Insurance Marketing Association’s then “MarkeTTech” Conference.
As founders of a start-up, it was somewhat daunting to meet established industry business leaders and explain to them how we’re going to “disrupt” their business. However, we quickly learned that PIMA’s founding members were the original disruptors of insurance distribution models sparking massive growth via more efficient cohort marketing or “P2P” agency/customer centric channels (direct mail, call centers and later online).
Since then some of the most successful companies in the country have discovered the value of utilizing trusted brands, and like & similar customer groups, to provide relevant products and services in a convenient manner. Through technology, the delivery vehicles are changing. The Internet of Things and the increased reliance on big data are driving greater efficiency and opportunity in underwriting, claims adjudication, and distribution. Billions of dollars have been invested in new models and disruptive technologies that promise to transform our industry.
I’m honored to serve as PIMA’s President this year where our July Meeting “MatureTech Meets InsureTech” is focused on this new ecosystem.
And I’m equally pleased to attend the Boston InsurTech Meeting—bringing distribution partners together in new ways and roles in the value chain.
Congratulations to Alan Egbert, Michael Albert and Jay Farber for creating a great event in a city where insurance innovation is thriving.
More about the author
Bill Suneson is the current President of the Professional Insurance Marketing Association (PIMA). He is also the co-founder of NGI Group, the company behind MassDrive.com, MyLifeProtected.com and GradGuard.com.