PIANY’s MetroRAP inspires forward thinking
Event features InsureTech demos, a trade show and more
Hundreds of insurance professionals gathered in New York City for PIANY’s annual Metropolitan Regional Awareness Program, held at the Sheraton in Times Square Jan 30. Attendees enjoyed a NY-YIP welcome reception, a crowded trade show, demonstrations about the industry’s latest technological products, and a chance to earn up to four continuing-education credits with PIA Instructor John Fear, CISR, CPIA, and PIANY Director Leslie Rogoff.
Welcome reception
Nearly 100 insurance professionals joined the New York Young Insurance Professionals to kick off MetroRAP early the evening of Jan. 29. They gathered at Connolly’s Pub and Restaurant and networked over drinks and appetizers.
People who attended the reception had a chance to enter a raffle to win assorted prizes such as winter apparel, an Amazon Echo Dot and a Bluetooth speaker.
InsureTech for agents
PIANY’s MetroRAP offered six InsureTech companies the opportunity to demonstrate new technological products that advance the insurance industry. The InsureTech companies included Agency Revolution, AVYST, Neptune Flood, RiskRevu LLC, Semsee and Swyfft.
Beginning in the late morning, the InsureTech audience enjoyed staggered demonstrations that lasted 15 minutes each, moving from room to room so that they could learn the most from each company. Attendees had the option to stay after each demonstration for questions and answers with each company’s representatives, or they could move on to the next demonstration.
The audience learned about important tools from each company, including the means to build deep, meaningful relationships with clientele while automating their processes to become more efficient; reduce errors-and-omissions claims; gather client data digitally and more.
Education
Bright and early, John Fear, CISR, CPIA, taught Maximizing Efficiency: Using Outlook to Manage Time, Tasks & Emails. During this class, Fear recounted his time as a process engineer when he worked for an insurance company. He explained his responsibility to look at things differently and help producers and underwriters become more efficient with their time management skills.
According to Fear, the key to maximizing one’s efficiency is to stop trying to become more efficient, and to try to be less inefficient. For example, Fear said, “Instead of looking at 100 emails in an hour, take an hour to look at 50 of them.” He advised attendees to look for ways to automate the process—like automatic payments—and to narrow every process down to as few steps as possible.
Fear’s afternoon class, Errors and Omissions–Avoiding Coverage Gaps, highlighted new trends that leave coverage gaps that can negatively affect agencies, producers and brokers. To help avoid coverage gaps, Fear said to make sure client accounts are being reviewed regularly and do not wait until the renewal period to talk with clients about their policies. Maintaining regular communication with clients will keep insurance producers aware of the kind of coverages clients have and may potentially need, and will keep them in-the-know about their coverage options and whether they need to revise their policies. This class was worth 3 NYCE credits.
In the late morning, Leslie Rogoff taught How to Get to the Top of the Submission Pile, which was worth 1 NYCE. For an hour, Rogoff discussed the do’s and don’ts of relationship building between insurance producers and underwriters. Rogoff reminded attendees that they should never yell at underwriters and that, “Words start wars.”
Rogoff also told producers to ask for two prices—the price they want you to pay for coverage, and the lowest price they’re willing to accept—as a way to help them maintain good rapport with underwriters. This creates a dynamic in which the producer and the underwriter can reach a compromise together and can work together to find the best coverage for the client.
Trade show
At this year’s MetroRAP trade show, exhibitors and visitors enjoyed extended hours—instead of ending before lunch. Exhibitors networked with those who came by, share the latest in insurance products and services, and more.
Right outside the trade show, PIANY Government & Industry Affairs Specialist Kat Slye-Hernandez represented PIANYPAC at a silent auction booth, which raffled off special items and experiences, including a signed hockey puck from Wayne Gretzky, a Beatles Abbey Road collage, and a History of the New York Islanders collage.
