NIP Group announces the results of its Program Underwriter Survey, conducted among leading figures in MGAs, Insurance Carriers, Reinsurers, and Brokers. The survey aimed to identify the essential characteristics—often referred to as the DNA—that define outstanding Program Underwriters.
WOODBRIDGE, N.J., March 18, 2024 /PRNewswire-PRWeb/ -- NIP Group announces the results of its Program Underwriter Survey, conducted among leading figures in MGAs, Insurance Carriers, Reinsurers, and Brokers. The survey aimed to identify the essential characteristics—often referred to as the DNA—that define outstanding Program Underwriters.
The findings indicate that over 90% of survey participants believe communication, collaboration, and teamwork are crucial for success in Program Underwriting. The survey also highlighted the importance of client and market focus, as well as a dedication to ongoing professional development, as fundamental to achieving excellence in the field.
Key areas explored in the survey include Strategic & Long-term Planning, Innovation & Adaptability, Risk Management & Analytical Approach, Professional Development & Excellence, Client & Market Focus, and Communication, Collaboration & Teamwork.
To access a copy of the survey results, please view the full release at http://www.NIPGroup.com/News-Insights.
Richard Augustyn, Founder and CEO of NIP Group, noted a significant shift towards Program Underwriting in the talent market. He emphasized the sector's appeal to underwriters due to the potential for significant impact and the opportunity for creativity in a fast-growing area. Additionally, specializing in a class or line of business, or both, offers a path to mastery and an alternative career trajectory compared to traditional management roles. With the U.S. Program Market approaching $80 billion in annual premiums and nearly 10,000 Program Underwriters in the U.S., the need for a professional association is increasingly apparent.
Considering the survey results and market trends, NIP Group is leading the effort to establish a National Program Underwriters Professional Association. This association will focus on promoting professional development, networking, and advocacy for insurance program underwriters, catering to the unique needs of this expanding professional group.
NIP Group pledges a $10,000 seed investment to facilitate the creation of this association. It is currently seeking proposals from underwriters, whether individually or as teams, who are interested in leading this initiative. Over the next three months, NIP Group will review proposals and allocate funding to the most promising submission.
Underwriters interested in participating in the establishment of the National Program Underwriters Professional Association are encouraged to reach out to Kyle Ismail at [email protected] for details on submitting proposals or for other engagement opportunities.
About NIP Group
NIP Group is the leading specialty insurance provider, offering comprehensive package solutions and monoline insurance products for 25+ industries and 50+ classes. For more than 35 years, we've proudly partnered with best-in-class, A+ XV rated carriers and a trusted, national network of insurance brokers, working together to protect safety-focused organizations from coast to coast. Learn more at http://www.nipgroup.com.
Media Contact
Colin Rice, NIP Group, 8666445361, [email protected], www.nipgroup.com
SOURCE NIP Group
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