The Target Markets Program Administrators Association (TPMAA) recently handed out citations to insurance companies that exemplify excellence in their respective fields.
ProHost USA was awarded the Best Practice Designation, while Ascinsure Specialty Risk was recognized for completing its Best Practice Recertification, which is required every three years to maintain designation standards and integrity.
“One of this Association’s missions is to promote excellence in program administration and enhance the status of program business in the insurance industry,” TPMAA president Tony Campisi said in statement from the organization.
“We are proud to celebrate the achievements of our members who function at the highest level, demonstrating expertise in all phases of program administration.”
“We pride ourselves on our professionalism and we aspire to excel in the program business niche. It’s gratifying to be recognized for our efforts and achievements,” Heidi Strommen, president of ProHost, added in the same statement.
“I believe the Target Markets Best Practice Designation is an important insurance industry benchmark to recognize and identify the practices of program administrators who are best-in-class,” Marty O’Brien, chairman & chief executive of Ascinsure Specialty Risk, also said.
TPMAA explains on its website, “We define Program Business as insurance products targeted to a particular niche market or class, generally representing a book of similar risks placed with one carrier. Administration is done through Program Specialists who have developed an expertise in that market or class.”
Program administrators assume a variety of responsibilities that include marketing, underwriting selection, binding, issuing, billing, premium collections, data gathering, claims management/loss control and possibly risk sharing.
“Program Specialists typically target their niches through differentiation either in product, risk management services, delivery mechanism or price,” TPMAA added.
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