Celebrating Hispanic Heritage Month with Marvin Rivas (President of LAAIA, South Florida Chapter)

Hispanic Heritage Month is this September and October, and this year’s theme is Pioneers of Change, Shaping the Future Together, which recognizes the trailblazers who have paved the way for all who have followed. 

In celebration of Hispanic Heritage Month, BOXX Latin America President Hilario Itriago, who is originally from Venezuela, spoke to Marvin Rivas, the new President of the South Florida Chapter of the Latin American Association of Insurance Agencies (LAAIA), and President of Madison Insurance & Financial Group. 

 Marvin shared insights into his inspiring career, his vision for the LAAIA, how technology is reshaping the future of our industry and the importance of risk management in cyber insurance.

HI: Tell us about your insurance journey and how you got to where you are today? 

MR: I was born in Managua, Nicaragua, and immigrated to the US with my family in the 1980s. We had to start from scratch, and this really instilled a pioneer mentality in me. My entry into insurance came, like so many others, a little by accident. I realized I didn’t have any coverage at all and ended up having to learn everything about insurance as a customer service representative at an agency. That experience opened my eyes to the importance of understanding insurance, and I worked my way up through different companies until I took a leap of faith in 2006, just before the recession – and with a baby girl – and opened my own agency. I named the company after my daughter Madison, who was only six months at the time and who has continued to support me with the rest of my family. Today, 17 years later, we provide insurance services across the US, and I’m thankful to be part of such a pioneering, inclusive industry. 

HI: As a Latino, what motivated you to take on the presidency of LAAIA and how do you see yourself shaping its future in addition to that of your own business? 

MR: It comes down to the notion of paying it forward and helping people. We mentioned the theme of Hispanic Heritage Month being Pioneers of Change. As a pioneer, I know that pioneers become who they are with the help of others, and they in turn have a duty to help others as well. When I started my agency, I was brand new to the world of independent insurance agencies and needed guidance. I had industry experience, but from a captive company standpoint. I searched for learning and mentorship opportunities and the LAAIA welcomed me with open arms. The mentorship and support I received from more experienced agents was instrumental in my success. Now, as the President of the South Florida Chapter, I want to give back to the community that helped me when I was starting out. It’s important to me that we continue this tradition of mentorship, especially for young agents entering the industry. Being part of the LAAIA has been an incredible experience, and I’m proud to be helping shape the next generation of insurance professionals.  

HI: Can you share more about your own mentors, how the LAAIA has evolved and your vision for its future? 

MR: The LAAIA has come a long way in the 50 years since it was founded. It started with the goal of supporting Latin American agents, and while that mission still stands, it has evolved into a more inclusive organization that welcomes agents from all backgrounds. When I first attended LAAIA meetings I didn’t know much about running an independent insurance agency. Some of the mentors I met at those meetings are still guiding me today. I’m constantly learning from both the older generation of agents who have been through it all, and the younger generation who bring fresh perspectives. Technology has transformed how we do business, and that’s something we’re focusing on at the LAAIA – making sure that our members are not only prepared for today’s challenges but also for what’s coming in the future. My hope is that we continue to foster that sense of community and mentorship and that we stay at the forefront of innovation in the industry. 

HI: Speaking of innovation, how do you see the future of insurance evolving, particularly in the areas of digital transformation and cyber risks? 

MR: Technology is transforming the insurance industry at a much faster pace than we predicted, and will continue to change with the introduction of AI and even newer technologies still lying ahead. When I first started, we were still dealing with piles of paperwork. Today, everything is digital and that brings with it opportunities and challenges, mainly around the question of protecting people. One of the biggest shifts we’ve seen is in cyber insurance. Companies like BOXX are at the forefront of offering cyber risk management solutions – and I believe this is where our industry will play the biggest role. With so much of our wealth and data now stored in the cloud, protecting that digital information is as important as protecting physical assets like homes and cars. But it’s not just about providing coverage – it’s about educating clients on how to prevent losses before they happen. 

HI: How do you see the LAAIA and cyber Insurtechs like BOXX working together to enhance consumer awareness of cyber risk? 

MR: I think BOXX is already playing a key role in bringing cyber risk management to the forefront. There’s so much potential for growth in this area, as the nature of cyber incidents keep evolving, for example with AI making cyberattacks more sophisticated – and scary. People don’t always realize the extent of their exposure to cyber risks, whether it’s businesses or individuals. I believe education is the key. Through the LAAIA, we can help agents become subject matter experts on cyber insurance and pass that knowledge on to their clients. Prevention is such an important part of risk management – just like we advise clients to prepare for natural disasters, we need to be educating them about digital security. BOXX is ahead of the curve in offering these kinds of solutions, to help our clients and communities prevent, mitigate and recover from cyber incidents.