BY TINA MCAVELLA
I HAVE BEEN IMPRESSED WITH THE URGENCY OF DOING. KNOWING IS NOT ENOUGH; WE MUST APPLY. BEING WILLING IS NOT ENOUGH; WE MUST DO.
~ LEONARDO DA VINCI
At Trisura, innovation around product and services is considered a strategic imperative! We are applying what we know and we are committing resources to activities that progress ideas. Why?
• CHANGE, CHANGE AND MORE CHANGE
Being forward thinking will ensure we are able to anticipate and navigate change. True to our entrepreneurial roots, we are constantly looking for opportunity in the changes that are impacting our Brokers and their customers.
• MORE OF THE SAME IS NOT ENOUGH
We view innovation as critical to cultivating our valued partnerships and maintaining our relevance with our brokers.
• ENGAGED STAFF ARE PASSIONATE ABOUT THE BUSINESS
It also helps keep our talented team engaged and offers an additional piece to a compelling employment story offered to prospective employees.
Placing increased emphasis on innovation in 2016, we learned that being innovative is a cultural mindset. We are fortunate. We are not encumbered by heavy legacy systems. This, together with being Canadian owned and controlled, ensures we can be nimble when a good opportunity presents itself.
We also find ourselves thinking broadly about product. What we offer is much more than a contract. Our promise is to deliver an exceptional experience with every transaction. This means that we are thinking about how we deliver our product and what ancillary services add true value.
Finally, we understand that the best innovation does not happen in a vacuum. We are looking to our strategic partners, including brokers, vendors and insureds in order to add necessary context to our pursuit of new ideas that will land successfully in the market. In 2016, we introduced the following new products:
• Cyber Liability Policy
• Social Engineering Coverage
• Trisura Online Non-Profit Directors’ & Officers’ Liability
• Side A Difference in Conditions for Directors & Officers
• Contractor Bond Portal
In addition, we also added 4 more customized products that were developed with our brokers and their clients. Looking ahead to 2017, we have 9 products currently in varying stages of development. All of this development has been enriched by feedback collected from our business partners.
We know the importance of continuing to seek out new opportunities to innovate and are acting with suitable urgency! True to our culture we are engaging in the marketplace, listening for opportunities to make a difference and offer a solution. These opportunities are brought back and cultivated from concept to launch execution. Not all concepts make it through to a launch as we need to be sure that the concept is worthy of a leading specialty lines insurer. This is consistent with Trisura’s general business philosophy of acting with discipline and passion in all aspects of the operation.
Innovation is not a project at Trisura. It is a natural extension of being entrepreneurial. We are convinced that nurturing innovation is imperative to our continued success and the success of our partner brokers.