Service Provider Interest May Signal Economic Recovery

  

AGRiP has for many years offered membership for corporate entities, businesses and sole practitioners supporting public entity pools. Pools recognize the incredible value private organizations bring to the industry, and it’s our goal to have service provider perspectives at the table alongside member pools. 

In the last few months, we’ve vetted nearly as many inquiries from service providers about membership in AGRiP as in the five or so years prior. Although the corresponding financial commitment is notable for some, service providers are nevertheless eager to join.

So what does this level of interest mean?

  1. Companies are prepared to invest again in business development. Some of the pandemic hesitancy around expenses has worn off, and many companies are thinking forward to 2022 profitability targets.
  1. In this reopened environment, companies are looking to engage with prospective clients in ways that are both effective and efficient. Associations like AGRiP offer service providers the time and space to meet with many clients (existing and potential) all in one place.
  1. Pools are highly attractive clients because they, in turn, are a centralized means by which to reach tens of thousands of local public entities. Many of our recent inquiries come from companies providing services useful to local public entities rather than for pools.

    As counterintuitive as it may be for an association supported by member dues, we’re pretty cautious about adding new corporate or business entities to AGRiP membership. We typically engage with service providers that understand and are passionate about pooling and are committed long-term to pooling goals. 

    Our vetting process aside, the uptick in service provider interest is notable within the AGRiP environment. And, if we’re experiencing it, member pools are likely facing similar inquiries. If you find a product or service provider you think is important for other pools to hear about, be sure to let us know so we can share information.

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    Ann Gergen is AGRiP’s executive director and a former pool administrator. She has worked closely with and for pools, public entities, reinsurers and related service providers throughout her career.

    Published Sept. 14, 2021.

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