This entire name calling rampage about “Nimby’s” and the importance of Internet Marketing that I have been on a tirade about during the few past columns has reminded me of another story regarding strange names in the insurance industry. Way back in March of 1992 ( I can’t believe that it is 18 years ago!), I converted over from being employed as a full time insurance broker, to a provider of technology systems to those who are in the business of selling insurance and attended my first insurance trade show as a vendor. It was the Westchester “E” Day Conference, (which I might add is coming up soon and I will be talking about in this column) which is held annually in Tarrytown, NY.

Not knowing many people on this side of the industry, I was pleased to see that the others who were also setting up their trade show display booths at the convention were extremely sociable and graciously offered to assist me with the huge display booth that I was arduously attempting to construct for the first time on site. On one side of my 10’ X 10’ booth space was a very pleasant gentleman accompanied by a young lady, who immediately introduced himself to me and offered his assistance. This gentleman was much taller than I (as are probably 75% of you who are reading this column), and he generously came over and attached the top hooks of the panels on the booth display as he saw me struggling to balance myself on one foot while standing on a very unstable chair, while my other leg was hanging over the back of the chair attempting to afford me some balance while I held on to and tried to position the 3’ x 8’ panel that was now flapping around like a newly caught fish on a boat, trying desperately with all it had to take me down with it. I thanked this gentleman for his lending me a hand as I told him I was probably close to falling over and breaking my head. He said not to worry because his wife is a nurse and she would be by soon with some refreshments and we could use the accompanying ice to apply it to the lump on my head. I laughed, acknowledged that he was probably correct as I was only a moment away from requiring the services of a surgeon, thanked him again for saving my life, and said that we would chat once I was all set up. At the same time, there was a younger gentleman on the other side of my booth space who knew the taller man well, and he, too, came over and offered to help. By this time I was getting the hang of this trade show gig and we introduced ourselves to each other and once again said we would talk more once both our booths were ready for action.

As soon as our setup was complete, the younger man and I began to talk, and I explained that this was all fairly new to me, as I had spent the past 14 years selling insurance, so selling to people who sell insurance was something that was a little different for me and that I was excited about doing. He said his name was Steve, and that he worked for a premium finance company. Steve said that he was very successful selling to the same agents and brokers that I would also be selling to and if I needed any advice to just ask. Very pleased to hear this, I began to ask Steve a million and one questions, from how he entered the business to how he prospects, what territory he is responsible for, and if he was familiar with insurance technology and what his thoughts were on my products and the agency and carrier markets. Steve shared many “secrets of the vendor trade” and offered some great advice. However, he told me that he had one suggestion that he believed that I should research and strongly consider. Of course I eagerly asked Steve what his idea was, and he immediately replied (so proudly with a huge, grinning, ear to ear smile) that he was a “YIP”, and that I should become a YIP, too.

I looked at my new friend, or at least at the person that a few moments earlier I would have thought of as a new friend, and said, “You’re a WHAT?” “A YIP”, he repeated (again ever so proudly). Immediately I began to second guess my decision to become a technology provider and attend trade shows, as some very strange thoughts began entering my mind, along with some powerful voices telling me that maybe I should go over and talk to the big guy who helped me put up the booth instead (whom I later found out was also a YIP). After all, he had refreshments and ice and maybe I did hit my head falling off the chair and didn’t even realize it. Besides, my first child was just born a month earlier, and, with a new son at home, I thought that this would probably be a good time to drop some bad old habits and certainly not a time to form any new ones. I then smiled at Steve (with a Jerry Seinfeld sort of smile), and told him that I was happy to hear about him being a YIP and that he was probably a very good YIP, as I have not heard about too many bad YIPs running around town, and since there was no such thing as a “YIP’s Gone Wild” video he was probably a fine YIP as opposed to a not so fine YIP. However, and although I knew I was probably going to regret this, curiosity surely had the better of me and I just had to ask Steve, “What’s a YIP?”, and why would I want to be a YIP as well? Steve then explained that there are good reasons why I would want to become a YIP and he began to tell me all about the many benefits of YIP membership, from the networking events, continuing education programs, charity fund raisers, and so much more. He also told me that “YIP” was an acronym for “Young Insurance Professional”, or more precisely, a New York Young Insurance Professional, which was a division of the Professional Insurance Agents Association of New York, New Jersey, and CT (among many other states that also have Young Agents organizations). Of course, as Steve was telling me all about what he said was a wonderful organization, I immediately thought that this was a fantastic mechanism to meet new agents (prospects!), sell more programs (clients!), and make tons of money ($$$!). So believing that I was still young enough to be considered a Young Insurance Professional, I asked Steve how I would go about becoming a YIP (although I told him I was not sticking my finger with a pin or going out in the woods at midnight). Steve then asked me to follow him and he led me over to the PIA booth where I received some additional information, and quickly signed up. I was now officially a YIP and Steve was now officially my mentor and sponsor into the organization.

Well, here I am 18 years later, still a YIP, and I can absolutely, positively, unequivocally tell you right here in this column that I was wrong. “Wrong about what?” Oh, I was right about the selling part, as I met so many new agents and carrier folks through the YIPs that I may not have had the opportunity to be so easily introduced to without the networking events that I attended, and who became clients (and friends) of mine as they purchased systems from me. What I was wrong about was that I quickly discovered that it was not just about the money…not even close. For the past 18 years of being a YIP, I have had the honor and pleasure of building some of the closest and most wonderful friendships that anyone could have ever imagined or asked for. Friends whose weddings, Christenings, Bar Mitzvahs and surprise birthday parties my wife, Ann Marie, and I have attended, friends whom we have had over for dinner, and yes, sadly, even some whose funerals we attended. I have received an education in insurance from this organization that not only has helped me maintain all of my insurance licenses throughout the years, but has also helped me to “sound like I know what I’m talking about”…which means I actually learned something! The money?...sure, it came with the clients I met through the organization ….but what I was wrong about was that the “true value” of this organization came not from the money, but from everything else that I gained from being a YIP.It’s priceless. I have only told this story twice in the past 18 years: once when I was inaugurated into my first term as President of The YIPs (it was in 1998) and had to give a speech to a few hundred PIA members at the annual convention in Saratoga, NY; and the second time was in a brief acceptance speech last June in Atlantic City, NJ, when I was awarded the “Insurance Professional of The Year” award, again at the PIA of New York and New Jersey annual (this time jointly held by the two states) convention. By the way, Steve’s last name is Sternberg, whom I know so many of you know and who is still very active and successful in the premium finance business with Bank Direct Capital Company. Oh, and the tall guy? That was John Comeau, President of Excise Bond Company, another star in this business whom I know you know. These gentlemen are two of my dearest friends and have been for so many years. I love these guys, and may never have met them and so many others if it were not for Steve telling me that he “Was a YIP”…and me asking that silly question, “You’re a WHAT?” I recently had a conversation with some folks about why someone would join an insurance organization consisting solely of their competitors and what are some of the benefits that are inherent with membership when you take advantage of what these local, state and national groups have to offer. I’ll be talking about them in an upcoming column, however first I would love to hear from you out there about why you joined an insurance organization, which one(s) you have joined, and why you have remained a member or why you have resigned. I would also like to hear from those of you who have decided against a membership in an insurance organization, and why you have decided to “opt out” as we say in the technological side of this thing of ours.

Thanks for taking another walk around these frigid northeast neighborhood with me—hopefully spring is right around the corner. I hope to see you at the PIA of CT annual conference at the MGM Grand Hotel and Casino; the Independent Insurance Agents of Westchester County in Tarrytown, NY; and a few others around town in the near future.