From its inception, PIMA has emphasized the importance of fostering genuine, lasting connections within the insurance industry. The 13 signers of PIMA's Articles of Incorporation understood the strength of their organization depended on their ability to bring people together, share ideas, and work collaboratively. We had a chance to talk with four of them — James (Jim), C. Boon II, P. Allen Haney, Richard (Dick) F. Jones, and J. Thomas (Tom) Koch — and their lessons and insights below further expand on just how essential relationships and networking are to sustainable success.
Even though they were competitors, the founding members of PIMA were also friends. Jim recalls the camaraderie that developed naturally among the members. "It was not uncommon for me to call one of the other members of PIMA and ask them, 'Have you dealt with this before?'" Jim explained. This kind of collaboration, which took the form of genuine friendships, was instrumental in PIMA's collective success.
This was more than just business; these were genuine relationships among some of the biggest players in the insurance industry. "We didn't force it; we all wanted to survive and grow, and that seemed like a logical way to do it," Jim noted. Building strong, supportive interpersonal relationships was key to PIMA's early success and remains a cornerstone of the organization's philosophy today.
Relationships are the Backbone of Business
Just how important were relationships in the industry? According to Tom Koch, they were the backbone of the business. "This is a relationship business," explains Tom, emphasizing that building and nurturing connections was crucial. Back when the organization was just starting out, Tom saw firsthand how members of PIMA, including associations and insurance carriers, worked together in a spirit of collaboration that was necessary to survive.
Being built upon a relationship-centric approach ensured that even in a competitive environment, PIMA founders and members remained focused on mutual support and shared success. "Plus, it strengthened the relationship we had with other associations," Tom noted, emphasizing how these bonds allowed them to better serve their clients and each other.
Ultimately, Tom helped foster a community where trust and mutual respect were paramount and strong relationships were essential for success. However, he also knew that building strong relationships took time and effort. "Everybody needs to know who you are. Once you get the collegial arm around you, that's when things start to happen," Tom explains. His dedication to fostering these connections is evident in how he interacts with his peers and members still to this day.
Collaborative Relationships Fuel Innovation
A significant factor in PIMA's continued success was the inclusive approach to its formation, especially when it came to collaboration among diverse members. Allen explained, "We realized ... we needed to be working together. There are a lot of commonalities for people who are working in the affinity marketplace." This inclusive strategy ensured that various perspectives were considered, leading to innovative solutions and stronger relationships within the network. He further emphasized that by valuing contributions from different levels of the organization, PIMA fostered a collaborative environment where networking could thrive.
The ability to adapt and expand its network has been crucial for PIMA since the very beginning. Allen highlighted the importance of evolving with the market, stating, "Today, it's an organization that's constantly growing because our marketplace continues to change. And if we're not changing with the marketplace, we're not going to be in business." By emphasizing the importance of relationships and continuously expanding its network to include new players and perspectives, PIMA maintained a resilient organization that continues to grow today.
The Heart of Industry Evolution Lies in Relationships
The early days of PIMA were marked by a collaborative spirit among industry players who, despite their competition, recognized the importance of coming together for a common cause. This shared goal fostered a sense of unity, where members could share resources and strategies to overcome common challenges. Regular in-person meetings and social gatherings facilitated open communication and trust-building, which were essential for navigating the complexities of the changing insurance industry.
The impact of these relationships extended beyond professional collaborations, often evolving into personal friendships that lasted decades. Dick recounted how PIMA meetings were opportunities for deep professional exchanges and camaraderie. "We had we had some great people there. [I] really enjoyed talking with them and working with them," Dick explained. This unity was also reinforced through enduring relationships and mutual respect among PIMA members, both young and old. Together, the relationships cultivated through PIMA were instrumental in fostering a collaborative environment where ideas could thrive and the industry could collectively advance.
Dick also gave one final piece of advice: "If you're new and coming into the business, just know that you're in a heck of a wonderful spot in a wonderful industry." Ultimately, it is a great advantage to enter an industry where relationships and networking form the foundation of success and fulfillment. Newcomers to the affinity market can rest easy knowing they're stepping into a field where building strong relationships can lead to meaningful and impactful careers.
The Ongoing Importance of Relationships and Networking
The legacy of PIMA's founding leaders serves as a powerful reminder of the enduring value of relationships and networking in the insurance industry. Their insights and experiences provide a roadmap for future leaders, emphasizing that success is built on strong connections, shared knowledge, and collaborative efforts. Future leaders within PIMA will be tasked with fostering these connections, ensuring that the organization remains competitive, innovative, and resilient.
Looking to the future, PIMA's commitment to building strong relationships and networks will remain central to its strategy. As the industry continues to evolve, the principles of inclusivity, collaboration, and proactive engagement will guide PIMA in navigating new challenges and seizing opportunities. As PIMA moves forward, these principles will continue to shape its path, fostering a vibrant and supportive community that thrives on innovation and mutual growth.
To learn more about PIMA's founders and gain invaluable industry insights, read our accompanying articles: Success Through Camaraderie and Competition, Leadership and Initiative, and Innovation and Adapting to Change.
PIMA® (Professional Insurance Marketing Association®) is a member-driven trade association focused exclusively on the affinity market.
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