Aly Kanji, President and CEO, InsureLine
The concept the power of brokers is in {our relationships} was strengthened in 2021. Relationships are resilient and it’s the worth in these relationships that propelled brokers ahead within the face of quarantines, lockdowns and isolation. Change is fixed. The brokerage enterprise is evolving and can proceed to evolve. Regardless of the billions of {dollars} being invested in insurtech and dialogue round disruption throughout the insurance coverage trade, the truth is that it’s extra possible that the insurance coverage enterprise will evolve than be disrupted. That evolution is accelerating, and it is going to be crucial for all gamers within the trade to maintain up with the tempo of evolution.
From a B.C. perspective, Insurance coverage Company of British Columbia (ICBC) will start to supply auto renewals on-line in late March 2022, by way of ICBC Autoplan brokers. This can mark one other evolution within the distribution of auto insurance coverage in B.C. and can open many new alternatives for these brokerages which have been getting ready and are prepared to satisfy the calls for of multi-channel distribution. In the meantime, brokerages throughout Canada will proceed to face a expertise disaster, with inadequate licensed brokers out there to do the required work. Constructing a novel identification and office tradition together with a compelling story will likely be vital to attracting high expertise.
InsureLine is an insurance coverage brokerage franchise – we exist as a car to maintain the unbiased dealer channel alive within the face of all of the brokerage consolidation. We count on that extra unbiased brokerage operators will contemplate becoming a member of a community like ours to gas their development to new heights, slightly than selecting to promote to a consolidator. We additionally count on many brokers to be displaced by way of brokerage consolidation and these entrepreneurial people with robust consumer relationships will search new alternatives to construct a future for themselves.
See all of the 2022 Outlooks right here.
