The Inland Marine Underwriters Association (IMUA) has announced the appointment of Matthew Derrick as its new President and Chief Executive Officer, marking a significant leadership transition for the national commercial inland marine insurance industry association. Derrick brings extensive leadership experience to the role, most recently serving as CEO of Kodeco.com, where he managed a global team of over 300 employees and contractors. During his tenure, he successfully rebranded the company and developed innovative learning assessment platforms that advanced professional certifications.
Tony Falcone, President of Intact Inland Marine, expressed enthusiasm about Derrick's appointment, highlighting his exceptional track record in digital transformation and professional growth. Falcone noted that Derrick's vision aligns perfectly with IMUA's recent initiatives, including a new website and learning portal. The association has been actively modernizing its digital infrastructure, and Derrick's background suggests an acceleration of these efforts. This appointment is important because it signals IMUA's commitment to adapting to the evolving needs of the inland marine insurance sector, which is critical as the industry increasingly relies on digital tools for training, networking, and information sharing.
In his new role, Derrick aims to build on IMUA's strong foundation by promoting innovation and driving professional development opportunities for inland marine insurance professionals. He recognizes the evolving nature of the industry and is committed to delivering enhanced value to IMUA's members. The implications of this announcement are significant: under Derrick's leadership, IMUA is likely to expand its digital offerings, such as online courses and virtual events, making professional development more accessible to a broader audience. This could help attract younger professionals to the field and address potential skills gaps.
IMUA represents over 90 percent of commercial inland marine insurers and provides comprehensive training, educational programs, research papers, industry analysis, and seminars. Founded in 1930, the association has a long-standing reputation for supporting and advancing the inland marine insurance sector. With Derrick at the helm, the association is poised to strengthen its leadership position by leveraging technology to enhance member engagement and streamline operations. For the broader New York City metro business community, which includes many insurance firms, this change highlights the importance of digital adaptation in traditional industries.
Derrick's appointment signals a strategic move to further strengthen IMUA's leadership position and adapt to the changing landscape of professional insurance education and networking. As the insurance industry faces challenges such as climate risk and supply chain disruptions, having a modern, responsive association is crucial for fostering collaboration and knowledge sharing. The New York City metro area, as a hub for insurance and financial services, will likely benefit from a more agile IMUA that can quickly address emerging issues and provide relevant resources to its members.
