"Some days, it felt like a revolving door of issues, and everything had to be resolved in short order," Liz recalls. "PIMA became a community where we were able to talk to each other—vent, problem-solve, and find solutions together."
Liz's story is a reminder that leadership is more about earning trust than holding on to authority. The strongest leaders aren't the ones who dictate change from the top but those who bring people together to navigate challenges as a collective. In the affinity market, where partnerships define success, that lesson remains as relevant as ever.
Lesson #2: Innovation Begins by Listening to Consumers
In an industry as established as affinity insurance, it's easy to assume that what worked in the past will continue working in the future. Liz doesn't see it that way. Instead, she believes that the industry needs to continue to migrate from a "one-size-fits-all" approach and focus on evolving alongside consumer needs.
"That's something I think our industry for a long time wasn't asking. [We] were delivering what we thought [consumers] needed," she explains.
Liz's approach is straightforward and transformative: instead of relying solely on legacy offerings, she advocates for a consumer-driven model. Rather than assume what will sell, she encourages affinity leaders to ask, "What are our members actually looking for?" As Liz puts it, "Keep what we know works and consumers need, but build for those gaps as well."
That shift has led to the expansion of insurance solutions in areas where consumer demand has significantly changed. Take renters insurance, for example. Liz explains that when her oldest child went to college, coverage options were relatively limited, but by the time her youngest reached the same milestone, renters insurance had evolved to allow for more customization. In just a few short years, renters insurance now covers everything from expensive electronics to electric bikes and scooters.
The same is true for pet insurance. What had once been a niche product has become a must-have for pet owners, and PIMA members recognize that consumer expectations have grown, leading to more tailored options across the industry. These changes didn't happen by accident. They were the direct result of listening—something Liz believes is the key to long-term success in the affinity market.
She also sees an opportunity to take innovation even further. "Can we be as bold as to say, let consumers build their own insurance?" she asks. "It's just being innovative, and that, to me, is exciting. Change is good."
Liz's leadership highlights a critical truth: real innovation isn't about pushing new products—it's about responding to real needs. For PIMA members, staying competitive means staying close to the people they serve. The companies that thrive will be the ones that listen, adapt, and build solutions that meet consumers where they are.
Lesson #3: Diversity and Inclusion Strengthen the Industry
Liz's impact on PIMA was not just about business strategy. It was also about shaping the future of leadership within the organization. "I was the fifth female president, and there was a nine-year gap between me and the last woman president," she notes. "Now, we've had back-to-back women as our incoming PIMA Presidents, which is fantastic."
That change didn't happen by chance. During Liz's time on the board, PIMA took a more intentional approach to board selection.
"When we started to take a look at all of our wonderful attributes, we took a look at who the board was and [then determined how] we could be the best board we possibly can by bringing in strengths in every area." For Liz, the goal was always to ensure that PIMA's leadership reflected the broader community it served.
She also finds personal support in the women executive leaders around her. "It is nice to be in a work environment with other women and see 'She's in the same space as I am,'" she says. "To be able to interact, and to be able to have a sounding board, and someone to call and be able to say, 'This is what I'm experiencing,' is just fantastic."
Liz's advice to the next generation of leaders? Be intentional about building a space where different perspectives are valued. In doing so, you don't just create a stronger organization—you build a stronger industry.
Looking Ahead to the Future of Affinity Insurance
As Liz reflects on her experiences at PIMA, one thing is clear: the industry's future depends on trust, innovation, and a willingness to evolve. "We've learned how to become a little bit more nimble," she says. "There's always different ways to get through [obstacles]."
She has seen firsthand how the strongest companies are the ones that stay close to their customers while also staying close to each other. The relationships built in PIMA don't just create business opportunities; they create a foundation for the entire industry to grow.
"You could be trying to knock on someone's door forever, but if you happen to be a PIMA member and you call another PIMA member, they answer the phone," she says. "Or they respond to a text or an e-mail, and that comes out of trust. And this industry is based on that."
For Liz, that trust is what sets PIMA apart. It is an organization built on collaboration, where even competitors will pick up the phone to help each other solve problems. That is what she believes will carry the affinity market forward.
"I don't know of any other association or group that I have participated in my 30-plus years that provides the same access, education, support, and trust," she says. It's thanks to leaders like Liz Sheehan that such a legacy will continue—stronger than ever.
Published on March 26, 2025.
PIMA® (Professional Insurance Marketing Association®) is a member-driven trade association focused exclusively on the affinity market.
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