The Ontario Broker - October 2019 - 32

AM: While email and phone are the main
sources of communication when it comes to
efficiencies and getting daily tasks completed,
nothing beats a face-to-face meeting. This is
still one of the best ways to build and maintain
a relationship with our clients and it allows us
to maintain that personal touch. Going back to
basics, getting to know our clients and letting
them know we're a phone call away has been the
strongest relationship builder. Your client will
remember the broker that takes the time to build
rapport and get to know their business and/or
family needs. Clients that have a relationship
with their broker will think twice before going
to a direct writer or call center based insurance
provider.
GVK: Email is an epidemic! If I'm away from
my desk for a day I'm completely inundated by
emails with urgent or time-sensitive requests.
But it's a tool I love to hate. It's still the fastest
way to get the information I need. Having
incorporated automated communication, we're
in touch with clients more often than we've ever
been. It goes back to knowing your clients-
some want nothing to do with email so you need
to be a bit of a hybrid and adapt how you do
business with each client so you can provide the
best customer experience for everyone.
AS THE USE OF TECHNOLOGY
INCREASES, IT ALSO BEARS THE
RISK OF CYBERSECURITY BREACHES.
WHICH EMERGING TECHNOLOGIES
HAVE THE GREATEST POTENTIAL
FOR RISK AND WHAT CAN BE DONE
ABOUT IT?

VC: Reliance on smartphone use (e.g., UBI
technology) -insurers need to adopt a
security-first culture and be up-to-date on
the latest cyber technology to maintain client
trust in their brand and lessen occurrences of
cyber crime.

OCTOBER 2019

32

IF THE LATEST AND
GREATEST IN TECH
ISN'T GOING TO
RETAIN OR ATTRACT
THOSE CLIENTS,
YOU NEED TO TAKE
A CLOSER LOOK AT
WHETHER IT'S A GOOD
INVESTMENT FOR
YOUR BROKERAGE.

AM: Working remotely presents possible
cybersecurity issues, whether you're using free
wifi at your local Starbucks or logging in from
home. It's essential your laptop's equipped
with a VPN and cell phones are encrypted to
keep out possible hackers. Another big issue is
social engineering or phishing emails-even
the most tech-savvy person can get duped
unknowingly. We need to constantly train our
staff, spot check and alert them to the most
recent scams. Having an IT department who's
constantly communicating with staff is good
office practice. When all else fails, a good Cyber
Liability policy that provides not only first and
third-party coverage but crime to cover any
social engineering losses should be in place at
your brokerage.
GVK: The whole driverless car piece makes me
nervous given the increasing sophistication of
hackers. If the Tesla sitting in your driveway can
be updated over wifi, what else is it susceptible
to? The amount of data we collect from clients
(driver's license, mortgage info, permission for
credit scoring, credit card details) could be a
disaster from an identity theft perspective. We
have several layers of protection in place to do
our best to prevent these things from affecting
us and our clients including insurance products
designed to assist us in the unfortunate event of
a breach.

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The Ontario Broker - October 2019

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