At Trisura, we’ve always believed that what makes the insurance industry special is the people. Collaboration and partnership are what drive our success, and it’s often those very qualities that first draw people to the field. It’s a value that runs deep across our company, and one that resonates personally with many of us who found our way into insurance through the people who inspired us most.

My path started at the dinner table with my parents, both insurance professionals who shared their stories with me, they talked about their days and what they were working on and how they loved what they did for a living. I was hooked. Not necessarily because of the nature of the work – although I found it extremely interesting – but because of the people they told me about. They spoke about how they worked closely with these people and solved problems, and I was struck by the collaborative nature of how the industry works.

Having been working in the industry now for over six years, I think insurance gets a bad rap. It’s more of a people business than most realize, and the importance of building relationships is paramount. It’s a lost art, yet a critical piece to get right. It takes time, effort and a genuine willingness to engage with others, work with them and help them solve problems. When that kind of alignment happens, it’s magic and it’s one of the last opportunities to differentiate what you have to offer over someone else.

Insurance is a competitive business, and when products and pricing are consistent across the board, the relationships we build and the way we work and partner with others is what creates opportunities. At Trisura, most of the time we win new business due to the relationships we’ve established with our broking partners. They trust us and know we’re here to help them and when they call, we get back to them right away.

The broker interactions we have are incredibly important, not just because it’s our job, but because we, both brokers and carriers, need to approach what we do as partners. The broker needs to ensure that their client is covered, and we need to ensure that the solution we’ve provided does exactly what it’s designed to do. Our success is tied to each other and if we work together, we’re both going to get what we need and most importantly, we’re going to satisfy the policyholder and make sure they’re covered.

When we create deeper relationships with our broker partners, we’re better able to have difficult conversations. We can more effectively discuss hard-to-place risks and even if we can’t place it for them, we can still help them find a solution. When we work together, we demonstrate that the relationship is more than transactional; it’s strategic and one brokers can count on.

I started my career in a hard market and now that it’s softened, we’re noticing the pace and the competitive nature of placing risk in Property and Casualty has become more complicated. Retention is front and centre with brokers as their clients are expecting reduced premiums for more coverage and the role of the carrier in this eco-system is even more important. The emergence and pronounced presence of entrants into the market that are offering broad coverage for cheap premiums are making it easier to commoditize product, but the relationship can suffer as a result. Online transactions may offer speed and ease of use, but the most important value brokers and carriers bring to the insurance proposition is advice and counsel grounded in the experience and expertise we each bring to the table.

Brokers need to know we’re willing to work with them, willing to look for ways to accommodate them and our ability to respond quickly is important. This is where Trisura’s ability to have an open conversation with a broking partner really matters, where it becomes the difference between simply providing a quote and helping them find a solution. And even when we can’t help, our willingness to try demonstrates our approach to being a true partner and that usually means we’re their first call when the next opportunity comes up. Chances are an online platform won’t pick up the phone when you have a question… At Trisura, we answer the phone.

Ensuring coverage is sufficient and appropriate for the risk, understanding the terms and wordings so there aren’t any surprises or “holy crap, I thought I was covered” moments is what a strong carrier and broker relationship brings to policyholders. It’s what I learned at the dining room table from my parents as they talked about their day and the work they did. It’s these lessons I apply at the boardroom table every day. And it matters; to the brokers we partner with and the clients we collectively serve. It’s the way the industry works, and Trisura believes that building and nurturing relationships is an art we can’t afford to lose.

Want to experience how we put relationships first at Trisura? Reach out and let’s have a chat.

Chris Faber
chris.faber@trisura.com
T: +1 416.607.4478
M: 647.270.0653