It’s been a year since your association moved to a no-cost membership model and adopted a strategic plan to expand membership, deepen engagement, enhance corporate relationships, and strengthen product development.
Together, the new membership model and strategic plan allow us to better fulfill our mission to be the global community for the professional liability insurance industry by providing essential knowledge, thought leadership and career development opportunities. This expanded membership also benefits all members by giving more people to connect and build relationships with, as well as providing more expertise to develop content and offering for members.
As 2023 begins, we take stock of our progress since we made these changes and look ahead to another great year as we continue to advance our strategic plan and build on this membership model.
Expand PLUS Membership
After PLUS “hit the switch” on our no-cost model on Jan. 3, 2022, we increased our membership from about 6,000 to 31,000 by converting those in our database who have done business with PLUS. Through onboarding and engagement efforts, more than 60% of those members participated with PLUS in some capacity in 2022. We also added over 7,000 new members during the year (compared to 1,200 in previous years), bringing us to over 38,000 members.
More members mean more connections to be made and more talent, knowledge, and expertise to be shared – which is why we called our strategic plan “PLUS Is More.”
In 2023, we plan to continue our expanded membership efforts by continuing to make operational and technical enhancements to ensure all members get the experience they deserve. Some of the technological enhancements will allow PLUS to:
- Better match members’ needs with PLUS offerings.
- Better gather and sort members’ input and feedback.
- Update the PLUS website ahead of a long-term rebuild in 2024.
Deepen Engagement with Members
PLUS is the only association created exclusively by and for the entire professional liability insurance industry. We only serve the professional liability industry, but we strive to serve all segments of the industry. That is why we are so excited to see the increased engagement with PLUS and participation at PLUS events in 2022. At PLUS’s three large symposia (D&O, Cyber, HMPL) and the PLUS Conference in 2022, 47% of attendees were first-time participants – more than double new attendees in 2019. We also have seen 28% growth in participation in the PLUS curriculum and designation programs since 2019, as well as 33% more designations issued in 2022 than any previous year.
Additionally, as we came back to holding chapter events midway through 2022, we saw almost half of all chapter events reach capacity and sell out. Many of the attendees were new to PLUS. And we provided more opportunities through our various distribution channels for members to be content contributors and subject matter experts in webinars, podcasts, the PLUS blog, and panels.
- Our blog will get a refresh and rebrand to make it an even more valuable source for industry insight and association updates.
- New task forces and expanded advisory committees will continue to provide more volunteer opportunities as they did in 2022.
- The Future PLUS Advisory Committee will continue to enhance its mentorship programs as it did last year.
- PLUS will continue our commitment to ensuring a welcoming environment and integrating diversity and inclusion efforts in all that we do.
Enhance Corporate Relationships
Industry support for PLUS is strong, and this was particularly evident in 2022. PLUS saw a 20% increase in the number of companies that sponsored PLUS national events from 2019 to 2022. In fact, every one of our national events saw an increase in the number of corporate sponsors. Also last year, PLUS saw the greatest number of companies supporting their employees’ progression through PLUS curriculum and designation programs.
But we know there is still work to do to ensure that all segments of the industry are involved, engaged, supported, and benefiting from PLUS. That is why we plan to redouble our efforts in 2023 to expand our outreach and relationship development efforts with all corporate segments in the industry, including:
- Staff and volunteer direct outreach.
- Greater information gathering from corporate entities.
- Limited-duration, special-purpose task forces to identify the needs of all different types of corporate entities in the industry.
Strengthen Product Development
Process improvement inside PLUS was a key focus in 2022 and will remain so in 2023. As processes improve and technological capabilities advance it strengthens our ability to provide new educational offerings and products that meet our members’ needs. In addition, having strong volunteer engagement, robust channels for input by members and deeper corporate industry relationships helps us to quickly identify and build new member offerings. Many of the technological advancements and process improvements around product development in 2022 and going into 2023, revolve around PLUS curriculum and designation programs.
Last year, almost 300 industry professionals participated in our new virtual Cyber University series (two more are scheduled for 2023). Additionally, our Cyber Professional Liability Professional (CPLP) designation is becoming the leading cyber insurance designation in the industry, with more than 250 CPLPs earned since it was released in late 2021.
In 2023, some of the new products PLUS will be offering will include:
- A new designation in Executive Liability – and a new virtual D&O University.
- Our first international educational curriculum with a certificate in Asian professional liability insurance.
- An EPL Symposium on Feb. 14 in conjunction with PLUS other symposia in New York.
Powering Forward in 2023
PLUS has the most successful, preeminent D&O Symposium in the industry. We provide the leading designation program in the industry with the PLUS curriculum and RPLU designation. Our cyber designation is becoming the industry standard and is supplemented by a successful and growing Cyber University and Cyber Symposium. We have the longest-running international industry gathering exclusively for professionals in the professional liability insurance industry with the Annual PLUS Conference – which will be held Dec. 4-6 in Las Vegas this year at the incredible Cosmopolitan Hotel. We also have the largest, most active, most volunteer-supported chapter system in the professional liability insurance industry.
In 2023, we will continue to build on these long-standing programs while explore new ways to serve members and improve the organization. Our new membership model and ambitious strategic plan show that PLUS is a vibrant association structuring itself to be a learning organization that embraces innovation.
We want to thank all members, sponsors, volunteers, and staff for all they did to make 2022 great and what they will do in 2023. Happy New Year. It’s going to be a great one.
Jennifer O’Neill – 2022 PLUS President
Jay Karp – 2023 PLUS President
Robbie Thompson – PLUS CEO