Based on estimates of 160,000 Canadian small businesses at risk of closing due to the COVID-19 pandemic — or even as many as 225,000 closures, per the Canadian Federation of Independent Business — brokers have a part to play in…
Compensation models based on performance continue to rise in popularity. A look at what some brokerages are doing and why…
Canadian P&C insurers have generally embraced the general principles of the Fair Treatment of Consumers (FTC), but the industry still has some work to do in specific benchmark areas, according to an annual statement on market conduct issued by the…
The onset of the COVID-19 pandemic made it difficult to raise money from major banks to finance mergers and acquisitions, but well-run brokerages will still be attractive to buyers, suggests an expert in brokerage valuation. “When COVID hit, the banks…
Intact Financial Corporation was holding focus groups on diversity and inclusion a few months ago, when a young manager of colour shared her experience with the insurer’s senior management. “She gave an example to us, which struck most of the…
Many brokers turned working from home into a success. What lessons can we take with us when we return to the office?
Meet Clint Smith, chief operating officer of Manitoba-based Andrew Agencies Ltd., which recently acquired several brokerages in Saskatchewan. Smith gave us his take on the challenges brokers face in Western Canada, the response to the COVID-19 pandemic, and the inside…
The industry continues to consolidate and pension funds are one major source of capital for insurers, a Montreal-based merger and acquisition expert observes. “One or two notable [carrier M&A] transactions per year has slowly transformed the Canadian landscape, including the…
Being able to collect better data regarding sales and customer behaviour are obvious reasons to upgrade the data system at your brokerage, but there are other benefits, Vancouver-based P&C insurance consulting firm Smythe Advisory said in a blog published Tuesday.…
Internal referrals made by successful employees are the top way brokerages are finding quality talent to add to their ranks, attendees of a recent webinar panel heard. When asked to discuss what strategies worked best to find talent, the three…
When COVID-19 was officially declared a pandemic nearly nine months ago, Jean-François Chalifoux was helping to lead the merger that formed Canada’s largest mutual insurer. “I was in Montreal March 12 [2020] and at 11:00 a.m. sharp, the [National Hockey…
Improving diversity and inclusion (D&I) in insurance companies has a positive impact on the business above and beyond compliance and the reputation of the organization, speakers said recently at a virtual industry event. Some of the benefits include better talent…