As sure as night follows day, so does IASA follow the Grand Berkshire Hathaway annual meeting. Someone reading this right now is scratching their head wondering what the heck IASA has to do with Berkshire Hathaway. Well friend, scratch away.
In the event that you are familiar with IASA and not Berkshire here is the clue – Both are organizations that are created by insurance. IASA – Insurance Accounting and Systems Association – is obviously insurance centered. And for those that are still perplexed with Berkshire, let me say that they are a massive business that does a lot of things but owes their growth and start to their first insurance company, National Indemnity. The stable of companies that make up Berkshire is amazing. Burlington Northern Santa Fe railroad, Kraft-Heinz, Helzberg Diamonds, Clayton Homes, Duracell, Net Jets, McLane Company, Benjamin Moore, Justin Brands, Dairy Queen, Flight Safety, See’s Candies, and over a hundred others.
And then there are the insurance companies owned by Berkshire – Applied Underwriters, GUARD Insurance Companies, The Homestate Companies, Berkshire Hathaway Specialty Insurance, Central States Indemnity, Gateway Underwriters, GEICO Auto Insurance, General Re, and many more. If you understand Berkshire and Warren Buffett the financial strength and wherewithal that created Berkshire comes from the insurance side of the business. So you might say that Berkshire is the house that insurance built. And, attending the Berkshire Hathaway soiree brings you into contact with hundreds of insurance executives that invest various insurance reserves (usually claims) in Berkshire to garner what are regularly way above average returns on their investments. Which is why Berkshire, in my way of thinking, kicks off the insurance conference season, with IASA to shortly follow, and then the conferences and events are lined up like airliners on the runway for the next few months.
But right now it is time to focus on IASA and the truly impressive event that it has become. If you know anything about VUE Software, we are The Distribution Modernization Company that exclusively serves the broad insurance market. The VUE Team – Ana, John, Jim, and Eric – will be holding forth at booth #1304 promising great insight into the world of insurance distribution, as well as on a few other topics such as Driverless Cars, what the InsurTech movement is about, how to align carriers and agents, and of course, finding out what you have been up to since last years’ conference.