LAAA Prepares for Expansion, Upcoming Annual Convention

Founded five years ago to address the specific needs of the Hispanic insurance community in California, the Latin American Agents Association (LAAA) is well known for its popular monthly meetings and entertaining annual convention. By attending these events, agents and brokers learn valuable information that will improve the quality and quantity of their business with the unique Hispanic consumer. With a real sense of community as the driving force of the organization, LAAA is poised to continue its tremendous growth with expansion into other states.

Andre Urena, LAAA’s CEO, recognized that there was a real need to form a separate trade organization for the Latino community, and he did so in 1998.

“The real need was for agents and brokers who deal with the Hispanic community to be able to have not only a place to network but to have information come to them that would help them in their everyday lives. For example, how to find the right carpenter, how to find the right computer software, how to find all of these things that established agents and brokers have had for such a long time. But the up and coming [agents] in the Hispanic market didn’t have access to this stuff in the past and they didn’t feel comfortable with the trade groups that existed already,” Urena said.

He said that the value of the association starts with the fact that Hispanic consumers are different from regular consumers. Most are immigrants that have not previously had insurance and prefer face-to-face communication to phone or Internet communication. Coupled with phenomenal population growth and an expanding Hispanic insurance market, the association recognizes that agents and brokers need training and need to know what markets are available for their unique consumers.

The primary way agents receive education from LAAA is in the form of monthly meetings. Currently there are two meetings each month, sometimes with an attendance as high as 100-200 agents.

“Our monthly meetings are the biggest monthly meetings by anybody, even by established trade organizations like PIA and the Big I,” Urena said. “The Los Angeles meeting has been going on for five years now. We get people to come in from Fresno and Bakersfield. We also have a meeting in San Diego that is very popular. Our promise to agents and brokers is that when they come to our meetings, if we don’t give them something which they can make money with tomorrow, then it’s not worth them spending time away from their family and away from their business.”

Urena said that LAAA always tries to bring valuable, relevant information to agents and brokers in the Hispanic community. A meeting may include two to three presentations from insurance companies or presentations from a few significant vendors. Experienced agents may discuss their own anecdotal experiences in an effort to teach younger professionals about certain issues. The association plans on developing a meeting for Central Calif. in the near future.

LAAA plans on exploring the options of opening chapters of the association in other states, with Texas being the primary target.

“We’ve had interest in Texas, Nevada and Arizona to expand our association,” he said. “The only reason why we haven’t is because we’re broker/agent-run. There’s no heavy bureaucracy within our association and we’re intending to keep it that way to remain independent. Right after the convention our expansion [will become] priority.”

The Fifth Annual LAAA Convention will be held May 6-9 at the Hyatt Regency in Long Beach, Calif. The convention, like the popular monthly meetings, gives attendees the opportunity to learn about the industry and get to know other Hispanic agents in a fun-filled environment.

California Insurance Commissioner John Garamendi will be a special guest speaker in the morning session on Friday, May 7. Convention attendees will spend the remainder of the day in continuing education courses covering topics such as improving customer service and how to sell more effectively to the Latino community.

The trade show kicks off Saturday, May 8 with more than 80 participating exhibitors. Special events include an unannounced celebrity guest speaker from the Hispanic community and a comedy night.

For many agents, the biggest draw to the convention is the salsa cruise on Saturday night. Approximately 500 people are expected to enjoy a cruise around the Long Beach Harbor complete with a salsa band, a gypsy band, deejays on multiple decks and fabulous food.

“We make sure that when somebody comes to our boat that they want to come [back] next year,” Urena said.

LAAA’s popularity amongst agents, and the association’s presence, will continue to grow as the Hispanic insurance market expands. Companies and vendors are eager to tap into the Hispanic insurance market, according to Urena.

“No matter which demographics you look at, they will show you that Hispanics are having babies faster than any other race and they’re already the biggest minority in the United States,” he said. “As our numbers grow, so does the interest in our market. The Hispanic market is growing at an amazing rate and those companies and vendors that are in any business, not only in the insurance business, that do not pay attention to the business and do not understand the business, they will not be able to penetrate the [Hispanic] market and will be left behind.” For more information, visit www.latinagents.com.

Topics Agencies Market Training Development