ASPN RESOURCE FAIR OFFERS SPECIALTY MARKET EXPERTISE

Rough Notes, Nov 2004 by Pillsbury, Dennis H

Well-attended sessions and networking highlight the Banff meeting

What happens when you bring representatives from 153 independent agencies to a beautiful spot in the heart of the Canadian Rockies? Over a weekend? Well, it turns out that they all go to meetings about insurance markets.

In July, Aon Specialty Product Network (ASPN) held its 2004 Resource Fair in Banff, Alberta, Canada. One hundred sixty-five agencies were invited to attend and 153 sent representatives to the three-day meeting. The agencies represented were among the prime movers in the business, accounting for more than $900 million in premiums. Thirty-five provider companies were available in the exhibit area and at networking sessions. The agents arrived on Saturday, July 17, and were treated to a dinner and presentation that evening that were designed to set the tone for the meeting as a networking and educational opportunity. This was followed by a full day of sessions and networking on Sunday and a half-day on Monday. Monday afternoon was reserved for fun. Tuesday was the departure day.

"The ASPN Resource Fair format is unique from other resource fair formats in that-in addition to the usual approach resource fairs have of exhibiting their 'wares,' sharing promo materials, giving away specialty items-the ASPN Resource Fairs are specifically set up to do business," says ASPN President and CEO Jerry Tegan. "We encourage attendees to come to the event ready and poised to write business. We encourage them to bring business submissions to the event. The representatives from the provider companies all are senior level executives who can tell an agent 'yes' or 'no' to any business risks they are discussing."

The presentation at the opening night set the tone with a dramatic and inspirational opening video, followed by a video describing the provider companies' programs, services and capabilities. Jerry also offered brief comments that challenged the audience to participate and take advantage of the opportunities offered.

The Sunday meetings started at 7 a.m. and included morning sessions on group captives presented by Aon Alternative Risk Underwriting and IRMG and one titled "Beyond Your Comfort Zone" presented by Aon Consulting, Floodwatch, Media/Professional Insurance and Cananwill Premium Financing. The afternoon session, presented by Swett & Crawford and Aon Specialty Re, looked at the E&S marketplace. And, of course, the exhibits were open for networking.

Monday featured an independent agency network panel discussion at which five independent agency representatives discussed their needs and asked questions of five senior executives from provider companies. A facilitator guided and directed the discussions. Questions from the audience also were entertained.

"The purpose of the Monday session was to make sure that we are doing all that we can to address the needs of independent agents," Jerry says. "This includes providing industry insight, answering product needs, providing market access, and keeping the agents abreast of current and future market trends."

Tom Comer, president and CEO of Swett & Crawford, one of the ASPN provider companies, noted "everything was very well attended. This really was a working meeting. All the agents came looking to learn."

He adds, "This was a phenomenal opportunity for us. We picked up a lot of insight into agents' concerns. Agents are looking for market options now that the soft market is gone. There seemed to be a lot of interest in the credit trade group in particular, as well as medical malpractice."

One attendee, Teri M. Gries, vice president-corporate marketing and communication, HUB International Midwest, Evansville, Indiana, said the meeting was "very well orchestrated and the accommodations were first rate. It provided me with a chance to visit with various companies and get a feel for their appetite. We use a couple of ASPN companies, but there are a lot of areas that we don't take advantage of.

"I was pleasantly surprised at the attendance. In every one of the sessions I attended, extra chairs had to be brought in as more people than expected showed up. It really helped create more of a vision of the ASPN company itself and raised them a couple of notches in my mind."

She adds that she was able to use some of the information she learned almost immediately. "We had some pieces of business-travel agencies-that we'd been looking to place. I came back from the meeting and told them about The Berkely Group. (Berkely Group is a leading provider of professional liability and general liability insurance products for the travel industry.) We had never used them before, but since we were already licensed with ASPN, we were able to access that market immediately. I really appreciated the opportunity to be able to return to the agency and bring back helpful information."

ASPN invites agencies from their independent agency network that are looking for growth and expansion of their operation, according to Jerry Tegan. "We want agencies that are looking for new products for their clients. Our goal is to pick regional agencies that have significant growth opportunities and are looking for ways to partner with us. The agencies are selected over a period of 18 to 24 months prior to the Resource Fair by the ASPN regional vice presidents in their respective regions."