Topic Management
How ‘extra steps’ can make for a bad customer experience
October 27, 2020 by Greg MeckbachBrokers who are concerned about carriers having “too direct” of a relationship with the broker’s customers should consider what service those customers are expecting, an industry consultant suggests. “As an industry, we have a number of places where we have…
What carriers are telling brokers who don’t invest in technology
October 26, 2020 by Greg MeckbachWith a week to go before Hallowe’en, Ontario brokers heard some spooky stories last week about what happens if a brokerage does not invest in keeping up to date with technology. “Technology is going to be a much more permanent…
NBS 2020 What brokers REALLY think about their jobs and their bosses
October 26, 2020 by David GambrillBrokers are more satisfied with their jobs now than they have been over the past three years, Canadian Underwriter’s 2020 National Broker Survey reveals. What’s more, they like their bosses better than their bosses think they do (at least, this…
How solvency risk has changed since the days of the eight-track tape
October 23, 2020 by Greg MeckbachWhen Bob Tisdale started his career about 40 years ago, insurers were more likely to get into financial trouble. “When I first started in this industry in the early days, I was doing commercial underwriting and there were a lot…
The downside of selling for 4 times multiple during COVID
October 23, 2020 by Greg MeckbachDespite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15…
Digital brokers: Should you build your own tech, or buy someone else’s?
October 22, 2020 by David GambrillOkay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers…
40-year industry vet discusses his take on tech: Does it help or hinder?
October 20, 2020 by Greg MeckbachWhen Bob Tisdale started his insurance career in the late 1970s, his employer at the time was just starting to adopt computers. “A lot of people at the time predicted that that was going to be the end of everybody’s…
Finding that swagger
October 20, 2020 by Adam Malik, Managing EditorInsurance is a cool industry, but not enough people know it. John McNeil, program coordinator and full-time professor at Humber College’s insurance management program, explains how to change that – As told to Adam Malik We as an…
How to survive a pandemic
October 20, 2020 by Rob Vosseler, Executive Vice President, Principal Broker, Union Power Insurance Brokers Inc.A broker principal shares his story about how his fledgling brokerage managed to navigate its way through the various business disruptions caused by COVID-19
NBS 2020 Broker principals reveal their favourite way to pay producers
October 16, 2020 by David GambrillIn the dog-eat-dog world of trying to generate sales during a global pandemic, brokerage principals are increasingly turning to performance-based compensation to help improve the performance of their brokers, according to Canadian Underwriter’s 2020 National Broker Survey. Of the more…
What Canada’s Supreme Court says about employers’ liability for bonuses
October 15, 2020 by Greg MeckbachA constructive dismissal award against a Halifax-based fish oil maker of nearly $1.1-million has been restored by the Supreme Court of Canada. When it comes to employment practices liability, a key lesson from Matthews v. Ocean Nutrition Canada Ltd., released…
The business case for diversity and inclusion at a brokerage
October 9, 2020 by Greg MeckbachIf you truly want to connect with your customers, your organization must be diverse, an industry consultant suggests. “There is room for improvement in corporate Canada, not just in property and casualty insurance, in ensuring women, visible minorities and people…