Spring is upon us, and that means the start of the annual broker conference season! The Manitoba broker’s conference is fast approaching, with BC and Alberta coming up pretty quickly afterwards and then out to the Atlantic.
My team and I really enjoy our attendance at all of the Provincial broker conferences each year (and quite a few regional ones too!). It’s a great way to see the country, but also to meet and listen to the local needs of each market.
In fact, I was meeting with one of our Lloyds syndicates last night who is newer to the Canadian market, and they were truly surprised at the sheer diversity of the insurance market from coast to coast. Some things are very similar (we are, after all, fundamentally working under the same principals of insurance!) but some elements are quite different. Local industry and economics can heavily steer the flavour of what’s being insured provincially, as well as regulatory influence, and availability of market. Consumer and broker preferences can also add a huge influence, for example, the adoption of various products on the web.
One thing that is extremely common is that our industry remains heavily reliant on personal relationships and trust. Whilst we work in a very large industry (apparently, there are about 120,000 people working in the P&C insurance industry in Canada!) yet it always feels like a small world at conferences when bumping into so many familiar people each year. I find that these larger networking opportunities, together with many other layers of activity on a daily basis, all help to gradually build this trust over time.
We are therefore looking forward to the conference season with great interest! It adds another layer of great insight into our business about how our teams across Canada can best support their local markets. If our physical presence in 4 provinces across Canada tells us anything, it’s that we don’t work in a market where ‘one size fits all’, and we have to adapt our approach.
As usual, I’m hoping to attend as many of these conferences in person as possible, and I look forward to seeing all of you there!
Nick Kidd, CEO