AIMS Society Endorses PIA Position on Buy Button for Independent Agents
WASHINGTON — The Board of Directors of the American Insurance Marketing and Sales (AIMS) Society has voted unanimously to support the position of the National Association of Professional Insurance Agents (PIA) regarding the concept of the PIA Buy Button.
The PIA Buy Button is the ability for agents to bind a policy in a once-and-done fashion, in real time in their agency systems, from among their appointed carriers regardless of the point of engagement or policy sale. The technology exists to do this, but has yet to be used in this manner. Currently, agents must leave their systems, or bridge to the carrier system, to bind a policy. The buy button will empower agents to bind coverage in real time for prospects or clients who call on the phone, walk into the agency, meet, or visit online.
“The mission of the AIMS Society is to provide sales training, networking and marketing innovation to property and casualty insurance professionals,” said AIMS Society President Craig Most. “It is a natural fit for us to support the Buy Button as a way for independent agents to capitalize on marketing efforts by being able to close the deal at the point of sale—no matter what the point of sale is.”
In January 2016, PIA National initiated an industry-wide dialogue on the concept of independent agents offering real time binding of insurance policies, which could include a level of purchasing capability on their websites. PIA convened a meeting among all stakeholders—carriers, agents and technology vendors—held at the headquarters of ACORD, the Association for Cooperative Operations Research and Development, in Pearl River, New York, to discuss the topic.
In April 2016, PIA adopted a position in support of the buy button concept. That position was then endorsed by NetVU, the Network of Vertafore Users.
“Thanks to technology, independent insurance agents have the ability to take back the real time binding process and use it to increase sales,” said PIA National President Robert W. Hansen, Jr. “This will benefit our agencies as well as our carrier partners with increased profitability.”
“This is all about empowering agents, carriers and consumers,” said PIA National Executive Vice President & CEO Mike Becker. “The buy button will create new opportunities to reach markets that currently go untapped for most agents, expand choices for consumers and build business for our carriers. PIA thanks our colleagues at the AIMS Society for their support of the initiative.”
Founded in 1968 as The Firemark Society (FMS), the American Insurance Marketing and Sales (AIMS) Society provides training, information and networking services designed to increase the personal and agency sales production of property and casualty insurance agents. AIMS was the first organization to honor property and casualty agents for sales excellence and to establish the industry’s only sales-based insurance designation – Certified Professional Insurance Agent (CPIA). For more information about the CPIA professional development program or membership in the AIMS Society visit www.aimssociety.org.
Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America SM. PIA’s web address is www.pianet.com.