The Independent Insurance Agents & Brokers of America (IIABA) is a prominent, nationwide organization representing independent insurance agents and brokers. Established in 1896, the IIABA represents about 250,000 independent brokerage firms and independent insurance agents.
The non-profit organization has offices across all 50 US states and the District of Columbia. It is composed of a national association, along with 51 independent state associations and local chapters. Independent insurance brokerages and agencies that join become members of the state and national associations. They also obtain membership into Trusted Choice, IIABA’s consumer-facing arm.
Also known as the "Big I," the IIABA is significant as a national trade association that supports independent insurance agents and brokers. The organization provides these industry professionals with the resources necessary to maintain a competitive edge in the insurance market. It also provides support for advocacies that benefit independent brokers, agents, and their clients.
In terms of its governance, the IIABA is led by an executive committee and a national board. There are seven elected members who make up the executive committee, and one agent chairperson.
For the IIABA national board, each state association sends a volunteer agent director.
Founded in 1896, the IIABA was originally named the National Association of Local Fire Insurance Agents. But in 1913, it expanded to include property-casualty business and coverages, prompting the organization to change its name to the more generic National Association of Insurance Agents.
Another name change came in 1975 to the Independent Insurance Agents of America. Then in 2002, the organization made its as-yet final change and became the Independent Insurance Agents & Brokers of America. Colloquially, the IIABA is also referred to by members and some consumers as the Big I.
This would more accurately encompass the group's entire membership of independent insurance agents and brokers across America. The current sitting president of the Big I is Robert Rusbuldt.
Today, the IIABA boasts of a quarter of a million independent insurance brokers and agents as members, in all 50 US states.
To join, independent insurance agents and brokers must apply for membership with the IIABA chapter in their home state.
Specific membership requirements for the IIABA can vary and are largely dependent on the state chapter. The membership process is straightforward – if you’re an independent insurance broker, agent, or agency, you fill out an online application form, then an IIABA state chapter representative will contact you.
An independent insurance broker or agent may apply for membership only through one of the state chapters. To become a member, you must:
When an independent insurance individual or entity joins a state chapter, they can reap several benefits. For one, the company also becomes a member of the Big I national organization and the Trusted Choice brand.
So, why should independent agents and brokers join the IIABA? There are several compelling reasons why independent insurance contractors should join the association. Here are the foremost reasons:
The IIABA is very involved in national politics, actively participating in the legislative process to protect the interests of its members and clients. The organization also works to advance its members’ interests via political lobbying initiatives.
The IIABA is also closely associated with InsurPac, a political action committee that supports campaigns for the benefit of insurance agents and brokers.
The IIABA advocates for important efforts like the Federal Crop Insurance Program and improvements to the National Flood Insurance Program (NFIP). Back in 2010, the IIABA raised more than $1 million for lobbying efforts related to federal crop insurance, insurance licensing reform, and other critical insurance-related issues.
IIABA membership provides access to a variety of insurance markets, offering a selection of top-tier products like affluent homeowners’ insurance, bonds, and commercial packages. Through IIABA membership, members also have the privilege of an online market access system that charges no fees, has no volume commitments and offers competitive commissions.
Formerly known as Big I Markets, Big I Alliance Blue is the IIABA’s free online market access placement center program. The IIABA gives members access to specialty or niche coverages, program business, and hard-to-find markets. Alliance Blue’s top-tier insurance carrier partners provide access to the products and new carriers that members need.
Thanks to its Big I Virtual University, the IIABA provides a comprehensive online learning and resource site with over 17,000 pages of information. Members receive discounted registration rates for Big I events, such as the Legislative Conference & Convention in Washington, D.C.
The association provides leading technical insurance and agency management information, along with student education programs and young agent leadership development. It also offers professional Continuing Education (CE) training, best practices, and technology and technical insurance white papers and resources.
The IIABA provides important business resources. These include discounts on services like online platform DocuSign and UPS delivery services. Membership affords savings on UPS services, with discounts amounting to up to 45 percent on domestic next day/deferred and 25 percent on ground commercial/residential parcel deliveries.
Members get access to InsurBanc, which specializes in insurance agency financing, including agency perpetuation and acquisition funding. The Big I also provides resources to help agencies with:
Another resource exclusive to members is the use of the Trusted Choice brand for public awareness; this also serves as a consumer portal for referrals and branding.
What is the Trusted Choice brand by IIABA?
Trusted Choice is the national marketing brand created for members of the Independent Insurance Agents & Brokers of America. It aims to unite independent agents and brokers under a single brand. Apart from this, Trusted Choice is a tool whereby the IIABA educates consumers, should they choose to work with an independent insurance agent or broker.
Experienced independent insurance agents and brokers will tell you that doing insurance marketing on your own can be a complex process. Some insurance professionals may argue that some of the insurance marketing strategies are outdated and require more innovative approaches to marketing their services.
But with the help of Trusted Choice, independent agents can amplify their marketing reach through content and a nationally recognized brand. Trusted Choice is specifically associated with members of the IIABA and is exclusively available for its members.
The association provides valuable insurance networking opportunities to members by holding events, industry conferences, and enacting special programs.
These efforts allow members to link up with other agents, brokers, insurance carrier representatives, industry experts, and potential partners.
Here are some of the most commonly organized events of the IIABA:
The IIABW Conference – this event is a mix of a tradeshow and educational event that offers members chances for networking
The Young Agents Conference – this event is designed for professionals new to the industry, composed mostly of seminars and networking events
Other events - the Big I also holds other events throughout the year. These can include CE classes and networking gatherings. The IIABA Los Angeles chapter also partners with other chapters to host a major insurance convention and tradeshow, which includes educational components as well as networking
Here are some programs and special groups sponsored by the IIABA:
Big “I” Young Agents Program – this is a networking program for future independent insurance leaders. It also provides educational and networking opportunities and fosters community for young agents
Big "I" Diversity Council – this special council engages and develops a diverse independent agency network by helping independent insurance agents, association leaders, and industry partners access information
The IIBA Los Angeles chapter holds regular encounters and helps encourage fellowship and friendship through social events. These social events include creative or charitable events, happy hours, and annual meetings.
Through the Big I Virtual University, members can also connect with experts. With this platform, new independent agents can ask seasoned practitioners questions about licensing requirements, auto insurance, errors & omissions insurance, or anything related to the different types of insurance.
No, captive agents cannot be members of the Independent Insurance Agents & Brokers Association of America, without exception. First and foremost, they are not independent.
And unlike independent brokers, captive agents cannot sell multiple types of insurance coverage from different providers. They can only sell insurance within their captive insurance company’s portfolio and are not legally allowed to work for multiple insurers.
You can use the Big I member directory. Note that there is no extensive list of independent insurance agents or brokers as they are too many. You can use this online portal to confirm whether the independent agent or broker you’re working with is a member of the IIABA.
As for members, you can use the directory to confirm your listing and ensure that potential clients can find you, and you don’t miss out on networking opportunities.
For starters, independent agents and brokers can be a good option for people who want more insurance coverage or a less expensive policy.
Remember, as a member of the IIABA, independent insurance professionals have access to exclusive insurance products and can be privy to valuable industry information. They can have first dibs and partner with the latest tech tools, and have firsthand information about new insurance products and trends that are more cost-efficient for consumers.
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