New PIACT Pres. Pascarella Stresses Need to Embrace Change

March 22, 2002

James Pascarella, the incoming President of the the Professional Insurance Agents of Connecticut (PIACT) told an audience of more than 350 industry representatives that embracing change is essential to remaining stable and profitable in the insurance arena.

His inaugural remarks during the organizations annual convention, held at Foxwoods Resort Casino in Mashantucket March 18-19, addressed changing insurance distribution systems and a changing marketplace advanced by the events of Sept. 11.

“The conditions we face today are more difficult than many of us have ever experienced,” Pascarella told delegates. Continued customer service and increased education are the ways agents can meet these challenges and safeguard the consumers’ interests. “Not only do we need to re-learn how to write business in the hard market, we also must reacclimatize ourselves in the details of account service, Pascarella stated.” He went on to stress that those agents and brokers most receptive and adaptive to change, whether it brings a favorable or difficult market climate, will survive.”

Discussing the many changes that have affected insurance distribution channels in recent years,- mergers, direct sales,marketing alliances with financial institutions – Pascarella observed that “through it all professional insurance agents have persevered.” He predicted that independent agents hard work and their ability to build relationships with insureds and to keep them informed on coverages and other concerns, would assure that agents will remain the delivery method of choice. “It’s all about service, and the level of service to clients agents provide cannot be equaled, Pasacarella concluded.”

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