We are pleased to announce that Sarah Friend, president of TPG, was welcomed to the board of The Council of Insurance Agents & Brokers (The Council) for the coming year.

Based in Washington, DC, The Council is the premier association for the leading commercial insurance and employee benefits intermediaries around the world. Its membership annually places 90% of US property/casualty insurance premiums and is the broker of record and/or consulting on two-thirds of all employer-sponsored health plans across the nation. The Council’s membership comprises the fastest growing, most innovative firms in the industry, with 33 of its firms headquartered internationally.

This is Sarah’s second board position with the organization – in 2024, she joined The Council of Employee Benefits Executives (CEBE) and will hold both board positions concurrently. So, rest assured that because TPG has a seat at the table(s), we will represent the voice of our customers and advocate for meaningful change across the commercial insurance, personal insurance, and employee benefits industries.

We spoke with Sarah about her most recent appointment and what it means.
*****

What was the board selection process like?
I got a call from the outgoing board chair, gauging my interest about being on The Council Board. Understanding the value of this opportunity for TPG and our clients, I said, “Yes, absolutely.” The invitation reflects our strong national reputation and our engagement with CIAB – we have leaders and executives participating in CIAB working groups and Council activities. TPG has earned a reputation as a market leader in the west; we have a strong voice not only within The Council but with national leadership at carriers and partners.

What is the time commitment to be a member?
I started last year with the CEBE advisory committee, which is focused on issues related to health benefits. CEBE focuses on healthcare cost containment, pharmacy regulation, new legislation, and so on. With this new appointment to The Council Board, there will be some overlap. We have several virtual and in-person gatherings every year for each board, and we get homework ahead of the meetings. For example, we are asked to review and weigh in on position papers that are used to educate legislators on important industry issues. Less than 10% of legislators have direct experience in insurance, so it is up to The Council and our firms to ensure they are informed before creating policy that can have significant impact on customers.

What goals do you have for your membership, heading into 2025?
As a board member with The Council, there are three committees you can join – Operational Oversight, Advocacy, and Planning and Strategic Resources. I will be working as a part of the Advocacy committee, which delves into public policy on federal and state legislation, plus regulatory issues and lobbying strategies.

Affordability on both the benefits and the P&C sides is my top priority. For example, the expiration of the Tax Cuts and Jobs Act (TCJA), tax reform is going to be front and center in 2025 on the benefits side. There have been studies commissioned by the incoming majority that are signaling a potential move to cap the tax benefits of employee and employer-paid premiums in order to pay for other proposed tax provisions. This kind of change could have significant impact on both employers and individuals; The Council, CEBE, and The Council Board will be working with outside experts to understand the macroeconomic impact of limiting the tax exclusion and we will weigh in strongly on this issue.

On the P&C side of the business, we’re looking into third-party lawsuits being funded by private equity firms (TPLF). This financing scheme is increasing the frequency and size of claims and preying on individuals through excessive fees and high interest rates, while creating a high risk of debt cycles for their “customers.”

What are some ways in which your board participation will benefit TPG clients?
We are directly advocating for our clients and working on messaging that will have a positive influence on lawmakers. I am excited to use this opportunity to make a positive impact on the industry at large. We all work daily with clients, and this board opportunity takes our influence to a higher level. It’s a chance to have a significant, long-term effect on the system and have a voice in shaping legislation that impacts our clients.

What are you most excited about regarding The Council Board?
It’s the opportunity to help businesses and individuals by addressing important issues in our industry. Personally, it is a way for me to keep learning, to engage my sense of curiosity, and to bring the information back to TPG. I believe it will make The Partners Group an even stronger organization as we ensure that all TPG’s clients’ as well as their employees’ concerns are brought to the table.

***
Interested in connecting with Sarah about her work with The Council? Contact her at sfriend@tpgrp.com.

****