Partner Success: How Insurers Invest in Broker Channels

But brokers are more than just moneymakers, they are professionals skilled in bridging the gap between insurers and consumers. According to the same his IBAC report, his 90% of Canadian brokerages donate money to charity and his 70% of brokerage employees volunteer for social causes. .

Carrier Intact Insurance renewed its partnership with IBAC’s Broker Identity Program (BIP) in recognition of the broker’s human skills. This is a nationwide advertising campaign that promotes the value brokers offer to their customers. For Intact, insurance is a ‘people business’ and there is no better distribution channel for the job than brokers.

To understand the importance of the BIP program to the industry, the insurance business spoke with Debbie Cool Cicchini, Executive Vice President of Intact Insurance, West Ontario, Ontario and Atlantic Canada.

What are the main reasons for choosing to trade with a broker?

At Intact, we believe insurance is people, not things. Insurance is a 100% people business and brokers are your connection. They are more than just sales people. They are business advisors and customer advocates. We value the expertise and experience they bring. They know exactly how trends play out on the ground and how they affect customers, and this perspective is invaluable.

How did the broker enhance your sales strategy?

Brokers make up the majority of our direct premiums. They are an important part of our distribution strategy. For us to be successful, brokers must value our expertise, products, services and brands and explain all of them to their customers.

A people business like insurance is all about that personal touchpoint, that personal recommendation. We see this in all our business units. You can see it in our digital strategy as well. Most of our customers hear about digital tools from their brokers. Brokers are the main supporters of our brand.

Comparing policies from two different insurance companies is not like comparing apples and oranges. It’s like comparing an apple tree to a pine tree, a bicycle to a Tesla, and a Tesla to a space shuttle. Some need a bicycle, some need a Tesla, some need a space shuttle. Brokers are the best way to ensure that customers get what they want at an affordable price.

Our success as an insurance company lies in our ability to differentiate our products and service offerings from our competitors. A broker is a very effective way of getting that story to your customers. No advertising campaign is more effective than when a broker in the role of trusted advisor says to a client, “I think this policy from Intact Insurance best meets your needs because…”.

What sets a good brokerage offer apart from your point of view?

There are many paths to success as a broker. We work with independent brokers, mid-sized brokers, domestic brokers, brokers who embrace acquisitions as a growth strategy, and brokers who succeed through organic growth.

The reason why brokers stand out among their diversity is very simple. Look for alignment of values. We are here to help people, businesses and societies thrive in good times and bounce back in bad times. We live that purpose through our values ​​including integrity, respect, customer orientation, excellence and generosity. When we align our values, we align our essence.

Brokers who have a similar commitment to customer service, superior performance, and making the communities in which we live and work more resilient will share our thoughts on how we can grow together. excites

Why did you choose to participate in IBAC’s BIP?

We have been supporting IBAC’s BIP for many years. As a customer-driven, value-based company, we consider relationships (customer-broker, broker-underwriter) to be the foundation of our business. Broker relationships are critical to our growth and success. Investing in and supporting our brokerage relationships with our clients is essential to our growth and success.

Our continued investment also contributes to IBAC’s other initiatives, including technical leadership of the Brokers Association, professional development of the broker workforce, and the Association’s federal endorsement to separate the insurance and banking industries. I appreciate what you are doing.

All of these initiatives will strengthen the industry.

How is your company working to promote the importance of brokers in insurance?

BIP program support, Broker Association support are all part of our long-term big picture commitment to the broker channel and our belief in the broker channel’s value to the industry.

Brokers know the industry inside and out. They go out of their way to find insurance solutions that fit their clients’ needs and budgets. They are the customer’s first, last and best touchpoints. We direct our clients to our brokers across all our digital tools and touchpoints. Intact Insurance’s website, client center, and Intact Insurance App all show that brokers are experts in insurance questions.

The Client Center and Intact Insurance App make your broker’s brand prominent and easy to reach with a ‘tap’ or email. Our team is continuously looking for ways to make it easier for our clients to digitally connect with their brokers.We want our clients to know that they can reach out and “touch” their broker whenever they need it. I know how important

What is your company doing to support the brokers it works with?

Broker growth and development is always our number one priority. Because when the brokers we work with grow and succeed, so do we.

We may offer financing options to brokers with ambitious growth strategies. We use our partners’ expertise to deliver technology solutions to brokers who need them. We share insights on industry trends and provide support for brokers to adapt to them. We have been providing training for brokers for a long time.

In response to hearing about the recruitment and retention challenges facing brokers today, we are offering additional support to brokers for personal line brokers, commercial line brokers and frontline leaders. We are developing a new comprehensive professional development program. These unprecedented times.

Contact for Personal Lines, the new Intact Portal launching in the spring, and our ongoing investment in Contact for Commercial Lines’ technology platform are all part of our commitment to making it easier for brokers to transact with us. is promoted by Underlying all of the above is listening to what brokers say they need and finding solutions that support them.

Partner Success: How Insurers Invest in Broker Channels

Source link Partner Success: How Insurers Invest in Broker Channels

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