Like many professional organizations, the CPCU Society has been challenged in recent years by a dwindling membership base. The president-elect of the Society’s Board of Directors has some ideas on how to reverse this trend.
In November, Risk & Insurance® met with Chris Hampshire, President-Elect of the CPCU Society Board of Directors. Here are his answers on his goals for 2022 and beyond for the Company.
Risk & Insurance: What would you like to accomplish as president?
Chris Hampshire: Our main objective is to see our Society increase the number of its members in 2022. The Company CPCU experienced the same challenges that most business organizations have faced in recent years.
A high number of retirements and other long-term trends have been exacerbated by the pandemic and have resulted in fewer active members. Our goal is to meet at our In2Risk annual conference in San Francisco next November and to be able to proudly say that we have grown.
R&I: What are your top priorities during your tenure?
CH: Engage with industry employers so that they see the return on investment of their employees’ active participation in the CPCU Society, involve our members more directly in our global committees and interest groups, and so that our Society works with other organizations to help attract new industry professionals are my 3 priorities.
R&I: How can the CPCU Society become more diverse and inclusive?
CH: Our company has pushed to invite more and more professionals of all kinds to join us since I became a member in 2010. Recent initiatives include the formation of the global IDEA committee to launch diversity and inclusion efforts , webinars and podcasts talking about the need for inclusivity and showcasing members from diverse backgrounds.
Our industry has a big mission – we help people and organizations recover in times of need. Insurance is the oil that keeps the engine of commerce running.
Being a diverse and inclusive group is one of the main goals of our recently released three-year strategic plan.
R&I: What are your strategies for increasing the number of members?
CH: We have just released updated membership categories that are designed to attract more professionals to our ranks. The new Pathways category allows industry professionals to join the Society as members before earning their CPCU designation.
We believe that by getting people into the tent earlier and supporting them as they earn their CPCU designation, we will create a deeper and more diverse overall membership.
R&I: How can the CPCU Society position itself for growth and expansion?
CH: The CPCU Society provides leadership, knowledge development, and networking opportunities to our members in a way that benefits them, their clients, and their employers. Communicating that ROI message will be critical.
Additionally, working with other Institute affiliates (CLM, III, Insurance Thought Leadership and others) to promote the CPCU Society to their members will be a priority in the months ahead.
R&I: What are your strategies for engaging the next generation of insurance professionals?
CH: Our industry has a big mission – we help people and organizations recover in times of need. Insurance is the oil that keeps the engine of commerce running. We all need to do a better job of communicating these messages to potential new entrants. You can earn a living, develop strong relationships with colleagues and customers, and make a positive and lasting impact on the world in our industry – all at the same time.
R&I: What inspires you?
CH: Professionally, I’m inspired by my friends in the industry who wake up every day and make things happen that have a tangible positive impact on our world. I see creative and positive things every day in my work as well as on LinkedIn and other sites that motivate me. Personally, my two children inspire me to be a better person every day.
New membership categories drive continued growth
As Hampshire mentioned, the CPCU Society recently expanded membership to include those who have not yet achieved designation. Anyone working in industry, attending insurance and risk management school, or having retired from their RMI role is eligible for membership.
Adding new membership categories is one way to help drive the continued growth and diversity of the CPCU Society. There are currently 15,864 CPCU Society members, and the five-year plan calls for 10% year-over-year growth to 25,000 members. &