Canadian Underwriter

Executive Outlook 2022: Andrew Kemp, CapriCMW

December 24, 2021   by Canadian Underwriter Staff

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Andrew Kemp, President, CapriCMW

Investment in technology will be critical to brokerages’ future success. The pandemic has accelerated digital transformation within the insurance industry by years. Previous reluctance to digitization and adoption of new technologies was quickly overcome as businesses faced significant challenges to their operations and sudden changes in demand and expectations from customers. Looking forward, it is important that brokerages adapt their business models and make the technology investments necessary to deliver the efficiency and flexibility that both customers and employees expect. And they must be able to promptly respond to rapid changes in their business environments.

Brokerages will face new challenges with changing market conditions and capacity as the insurance industry copes with the impact of the COVID-19 pandemic, as well as recent natural disasters.

Achieving scale and increasing buying power will be ever more important for brokerages to remain competitive in coming years, both to manage market issues and make investments required to meet the increasing consumer demand for online insurance solutions. It is important for brokerages to be able to deliver the service experience customers expect through their channel of choice, whether that’s through traditional forms of communication or through new digital platforms.

We expect to continue growing and expanding our talent base. As we emerge from the pandemic, we anticipate a shift in office dynamics and a transition toward a hybrid model that balances in-office time and remote working. Additionally, we’ll be continuing to explore new investments in technologies and innovations that can make a positive impact on our business, employees and customers.

See all the 2022 Outlooks here.