DAVID VS GOLIATH HOW TRISURA BEATS THE BIG INSURANCE COMPANIES

DAVID VS GOLIATH HOW TRISURA BEATS THE BIG INSURANCE COMPANIES

By Jeremy Miller

“If the big companies did everything right, there wouldn’t be room for us,” says Mike George, CEO of Trisura.

Big companies are average. They don’t serve every market or every customer need, because of their size and position. They serve the most common needs in an industry, and offer services that reach the largest pool of clients.

But serving the average leaves ample opportunity for small and mid-sized companies like Trisura to innovate and win market share.

It’s a classic David vs Goliath story. Trisura is growing rapidly, because they deliver services where the big guys fall short.

David believed he could win

Trisura is competing with Goliaths. They are a privately-held insurance company that is going toe-to-toe with multi-national insurance companies.

But what sets them apart is a belief, what Mike calls their “Noble Vision.” He says, “We exist to create exceptional experiences for our stakeholders, both brokers and their customers, because we believe that business can be done better.”

Insurance is an industry dominated by very large, conservative companies. They’ve operated the same way for decades, but Trisura has a deep seated belief that “exceptional service” is a defining differentiator.

And the results are backing it up. Mike continues, “Even though we’re only eight years old, we’re the fourth or fifth largest surety player in Canada.” And the company’s revenues have grown exponentially in the same period.

David chose where to win

Small and mid-sized companies don’t have endless resources. They can’t out muscle the big companies in their industry. They’ve got to be strategic.

Trisura’s number one priority is serving their brokers. Mike says, “The brokers are dealing with insurance companies on a daily basis, but by and large their experiences are not fantastic. Underwriting companies and our competitors are slow to respond. They don’t necessarily care or listen to the brokers’ needs, nor do they work very hard at finding solutions. And that’s what creates our opportunity.”

Mike continues, “Our focus is trying to find ways to create exceptional experiences for our brokers. Our brokers are bringing us their customers so we treat the brokers like our primary customer.”

As a smaller firm, Trisura offers brokers three distinct advantages:

 

Listening: They foster close relationships with their brokers, and pay attention to their needs. This helps them find innovative solutions.

Responsive: Their goal is to not only to be responsive, but to be fast. They place responding to emails and phone calls as a top priority.

Decisive: Trisura’s not mired in red tape and bureaucracy. They pride themselves on finding solutions, and acting quickly.

They are nimble and they are dedicated, and that garners their brokers’ loyalty and respect. And it positions Trisura as their customers’ first call.

David wasn’t satisfied with the status quo

The way the giants rule an industry is not necessarily the best way. Customers deserve better, and it takes a David to challenge the Goliaths.

But being the David of your industry is a commitment. It requires a deep belief that your customers deserve better, and you will deliver a better way. This is more than just saying you’re a David, because you’re small. David stood up to Goliath and won by doing things differently.

Trisura innovates with a focus on delivering exceptional service to their brokers. It’s something they can do better than their competitors, and it’s a point of differentiation that stands out in their industry.

What’s the opportunity in your industry? Where are the giants falling short? Where can you beat them to create a competitive advantage for your firm?

Jeremy Miller is Brand Strategist, Speaker and the President of Sticky Branding — a branding and business development firm that helps companies stand out, attract customers and drive sales. For more information visithttp://www.StickyBranding.com. You can reach Jeremy at 416.479.4403.

BEATING THE HEAT: TRISURA AT THE 15TH ANNUAL PROJECT WATER

BEATING THE HEAT: TRISURA AT THE 15TH ANNUAL PROJECT WATER

Top Row from left: Keith McIntosh, Andrew Rohmer, Jeff Cernele & Sian Davies
Middle Row from left: Michelle McCafferty, Lisa Saponara, Sonia Cordeiro & Carolyn Rhodes
Bottom Row from left: Rob Litt & Janet Mascitelli

On July 9th over 100 volunteers from organizations across the GTA joined in for the 15th Annual Project Water, an Engage and Change initiative that provides bottled water for those in need. Trisura participated this year with a team of 10 volunteers who helped pack summer survival kits containing a T-shirt, reusable water bottle, pen, note pad, baseball hat, hand sanitizer and body lotion as well as load cases of bottled water into trucks that will distribute them during heat alerts this summer. Since its inception, the project has placed in excess of 1.5 million bottles of water into the hands of Toronto and surrounding area homeless through over 170 front-line relief organizations and homeless shelters.

The one-day event begins with teams competing to see who can put together the most summer survival kits for the homeless. We’re proud of our energetic Trisura Team who out-packed the competition and won the challenge by putting together just over 1,100 kits in under 20 minutes! Overall more than 3000 summer survival kits were packed and loaded. The event continues into the afternoon with volunteers loading 300,000 bottles of water into vehicles that will deliver them to social service agencies, homeless shelters and outreach providers.

Founded by Jody Steinhauer, President of The Bargains Group, Project Water, an Engage and Change initiative, was born in response to the inexcusable fact that more homeless people die from dehydration in the summer months than from exposure in the winter.

To learn more about Project Water or to donate, click here.