Jun 18, 2013

Community, diversity, legacy are the cornerstones of PIANJ President Tague's agenda

ATLANTIC CITY, N.J.-Newly elected president of the Professional Insurance Agents of New Jersey Stephen P. Tague, CPIA, discussed the important roles of community, engaging diverse groups and ensuring the industrys legacy, as the association approaches its 75th anniversary next year and beyond. Tagues remarks were made during his inaugural address this week at the PIANJ/PIANY Joint Annual Conference at the Trump Taj Mahal Resort Casino in Atlantic City.

During his address, Tague started with the importance of coordinating PIANJs efforts with other PIA state affiliates to address common needs among insurance professionals-the benefit of which, he said was demonstrated during and after Storm Sandy. "I have asked the leadership of our Government Affairs Committee to engage the leadership of PIANY and PIACT to discuss what issues are important to all of us and to plan where we can act in unison on common issues."

Regarding the diverse ethnic and womens groups in the insurance industry, Tague stressed the need to engage the groups because " the emergent agencies of diverse communities, like all independent agencies, have strong entrepreneurial ambitions and develop their businesses policy by policy, and client by client."

Tague continued: "Our industry realizes the value and contributions of the diverse/ethnic communities to our economy and to the insurance business we must welcome these communities into our business at a more rapid pace to keep up with our developing and diversifying population."

To accomplish this goal, Tague has asked PIANJ past President Donna Cunningham, CPIA, to continue an effort she initiated during her PIANJ presidency: To reach out to agencies emerging in diverse markets. "We encourage participation with our carrier partners and ask all of our members to engage in this process by reaching out to the diverse ethnic agents."

Tague also addressed the importance of the insurance industrys legacy-an idea he said many agents "leave on the proverbial backburner. Legacy is a concept that goes beyond just leaving our agencies at the end of the day. To me, legacy involves all that has been built up during these many years, believing that it had tremendous value and meaning and wanting to leave it in great hands."

He told the audience that agents need to ask themselves several questions about their own legacies, including: How do we preserve a system that has been around for so many years? How do we attract the next generation? How do we address changes in the industry, including mergers and acquisitions, agency aggregators, and increased bank participation in our business?

"It is my ambition, and hopefully all of yours, to attack these issues this year," Tague said, reporting his intent to develop a task force comprised of PIANJ and New Jersey Young Insurance Professionals, with the input of company representatives, to consider agency internships and incentives for young people to enter our industry and develop paths toward agency careers and ownership.

Tague encouraged those in attendance to participate in his plans and stay active in PIANJ. "I plan to invest in these goals during my presidency as we proceed toward our Diamond Anniversary over the next year, to ensure a strong foundation for our 100th Jubilee. I know I have the support of those who currently volunteer for PIANJ and NJYIP committees, and I welcome the help of everyone in the room tonight, both company partners and PIA members to get involved if you feel strongly concerning anything I have discussed tonight."

PIANJ is a trade association representing professional, independent insurance agencies, brokerages and their employees throughout the state.

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