Insurers answer brokers’ questions raised at the 2017 conference
On June 16, 2017, at the 69th Annual IBABC Conference & Trade Show in Whistler, chief executives from
Canada’s leading insurance markets talked about their business models, their technology journeys, and their
approach to their broker partnerships. In the Q&A session that followed, the speakers did not get to all of
the questions brokers raised. The insurers were invited to answer brokers’ questions in writing, and their responses have so far been published in the October and December 2017 editions of BC Broker magazine. Next
up is Carol Jardine, senior vice-president and chief strategy officer, Wawanesa Insurance.
Carol Jardine is well known to brokers in B.C. As president and COO of CUMIS
from 2004 to ’ 10, she was responsible for all P&C insurance operations, services,
and products for credit unions and their members offered by the CUMIS Group.
Prior to its sale to RSA in 2008, she was president and COO of Canadian Northern
Shield in B.C. She was VP Claims Services at TD Insurance until 2014, then led
her own consulting service for two years before joining Wawanesa as senior vice-president and chief strategy officer in June 2016.
By Carol Jardine
Insurer support for brokers’
What do you see as the most important
thing brokers and insurance companies
need to do today, as partners, to pre-
pare for a mobile world?
Technology is disrupting our industry
at every turn, and both insurance companies and brokers need to be flexible
and adaptive to change. It is projected
that within three years there could be
more than 50 billion connected devices
globally, with mobile being the primary
internet device for most individuals.
That is a lot of connectivity. We know
that brokers, who are on the front lines,
face rising expectations from customers
for transparency, speed, control, and
ultimately for value. They also compete
with new players – e-aggregators and insurtechs – who will continue to disrupt
traditional distribution models in the
years ahead. For Wawanesa, our focus
is on enabling our brokers with digital
solutions so they continue to be competitive, profitable and exceed customer
expectations. We’re investing heavily in
digital to support our broker partners,
and to ensure we can enhance the broker
value proposition of advice, advocacy
Do you see technology (mobile com-
munications) advancing faster on the
sales/broker side or the loss/claims side
in Canada in the next five years?
Today’s digital disruption is focused
on the distribution of insurance; however, we must advance our mobile communications in both sales and service, as
the customer expects it at every interaction, including at time of claim. We
must meet their expectations and act
quickly on improving communication
across the insurance value chain.