Fostering relationships is as crucial as the products or services the insurance industry offers.
In the insurance industry, this principle holds particularly true. In my conversation with Antonio Iozzo, IUM CEO, he shed light on how their annual Golf Day shares this philosophy while injecting a dose of excitement into the mix.
At IUM, the Golf Day isn’t just another corporate event; it’s a meticulously planned extravaganza that showcases the company’s commitment to both fostering relationships and offering a unique experience. Antonio emphasises the event’s in-house planning and execution, highlighting the dedication of their events team.
What sets the IUM Golf Day apart is its thrilling hole-in-one challenge. While most golf tournaments offer a single luxury car as a prize, IUM ups the ante with three hole-in-one supercar competitions. This year a Ferrari Novitec 296, Lamborghini Novitec Huracan, a Porsche Techart 992 Carrera were up for grabs. A dream for any car enthusiast.
But how does IUM ensure the integrity of such high-stakes contests? Antonio reveals that each hole-in-one attempt is meticulously documented and verified, ensuring fairness and transparency. Despite the allure of these coveted prizes, no winner has emerged in the past three years, adding an extra layer of suspense to the event.
Beyond the adrenaline-pumping challenges, IUM’s Golf Day serves as a platform for relationship-building within the insurance industry. With an exclusive, invitation only, guest list comprising 140 golfers and 180 evening dinner attendees, the event attracts a who’s who of brokers and industry professionals. Antonio explains that the event’s exclusivity ensures a high level of engagement and networking opportunities.
However, IUM’s commitment to relationships extends far beyond their annual Golf Day. Antonio highlights their active participation in various industry expos and sponsorship of insurance institute dinners throughout the year. These initiatives not only showcase IUM’s products and services but also reinforce their dedication to supporting the industry as a whole.
“Ultimately, IUM’s approach to business revolves around protecting their clients’ interests while fostering long-term relationships”
When it comes to managing broker relationships, IUM takes a boutique approach, prioritising quality over quantity. By maintaining a select group of around 100 brokers, IUM can provide personalised support and foster mutually beneficial partnerships. This hands-on approach stands in contrast to the industry trend of remote interactions and emphasises the value of face-to-face engagement.
Technology plays a pivotal role in IUM’s operations, enhancing efficiency and risk management capabilities. Antonio discusses their investment in insurance management software and Salesforce-based solutions, underscoring their commitment to innovation. By leveraging technology, IUM aims to streamline processes and provide brokers with valuable insights into risk management.
Through events like the IUM Annual Golf Day and strategic industry engagements, they not only showcase their offerings but also demonstrate their commitment to supporting brokers and clients alike.