Segment
Brokers
How to keep your top sales producers from flying the coop
November 3, 2022 by David GambrillSix out of ten employers don’t really understand what motivates their salespeople, which may cause their top sales producers to seek work elsewhere, according to a Harvard Business Review blog. While employers are responding to staff burnout by tweaking the…
How supply chain is leading to repair challenges for electric vehicles
November 3, 2022 by Alyssa DiSabatinoThe semiconductor chip shortage — a byproduct of the demand for advanced electric vehicle (EV) technology — has caused repair challenges for car rental services, says one expert at the Insurance Brokers Association of Ontario (IBAO) Convention in Toronto. However,…
One size doesn’t fit all: why office time needs to be maximized accordingly
November 2, 2022 by Alyssa DiSabatinoCompanies that don’t employ, at the very least, a hybrid work option, can expect an increase in employee turnover. “And what that means is losing talented employees to other organizations,” said hybrid work expert Hassan Osman at the Insurance Brokers…
Paw-sitively busy times for Canadian pet insurers
November 2, 2022 by David GambrillIt’s official — everyone and their dogs are announcing pet insurance mergers, acquisitions and partnerships. It started two days ago, when Fairfax Financial Holdings Ltd. completed the US$1.4-billion sale of its interests in Crum & Forster Pet Insurance Group and…
How Canada’s P&C market shifted in 2022
November 1, 2022 by Alyssa DiSabatinoMarket conditions remain complex but are stabilizing as the industry approaches its last quarter this year, Aon’s 2022 Canadian Insurance Market Report found. Increased competition, along with positive underwriting results and loss activity, marks a transition from significantly challenged market…
Yes, brokers and consumers do define value differently
October 31, 2022 by Alyssa DiSabatinoPersonalized service is what consumers across Ontario most value in their relationships with P&C brokers, with broker expertise coming in second, found a market research expert speaking at the recent Insurance Brokers Association of Ontario (IBAO) Convention. On the other…
Selling your brokerage? Don’t forget to tell your clients
October 31, 2022 Michael CareyImagine you’re a client who calls your broker to talk about renewing a policy, only to find they’ve sold the business and moved to Florida. It’s hardly an elegant retirement notification. A client would much rather be told about the…
How acquisitions help P&C brokers boost cross-selling options
October 28, 2022 Philip PoradoSeveral Canadian commercial P&C brokerages are actively acquiring wealth management, retirement planning and employee benefits firms so they can boost revenues by adding to their product ranges. The simple math suggests a larger product suite — one that brings in…
Mapping your customer’s journey? Try the same with your employees
October 27, 2022 by David GambrillMonitoring your company’s systems and processes, as opposed to monitoring the work output of your individual employees, may be the answer to boosting your company’s productivity by 9% to 10% annually, suggests a new article by Harvard Business Review. A…
How to find P&C talent by acquiring wealth planning advisories
October 27, 2022 Philip PoradoFrequent announcements about Canadian P&C brokerages buying retirement and wealth planning advisories raises an interesting question: What do the acquirers offer to the employees of the firms they buy? The short answer is development opportunities, said Terri Botosan, regional president…
Selling your brokerage? How to look attractive for buyers
October 26, 2022 Philip PoradoPortfolio analysis is key to buying or selling brokerages, and some portfolios are more attractive than others, Herb Cline, president of CF2K Strategic Consultants, told a session at the Insurance Brokers Association of Ontario’s recent convention. “The flavor of the…
Insurer CEOs give their take on broker independence
October 25, 2022 by David GambrillIs broker ‘independence’ capital-agnostic? Or is broker independence truly a function of who owns the brokerage, be it a broker, an insurance company or a private equity partner? This question has been the source of a longstanding debate between brokers…