The Ontario Broker - Volume 23, Issue 3 - 10

Broker Roundtable
INDUSTRY & MARKETS
The Rise
of National
Brokerages
Mark Wiens
Head of Commercial
Lines, Canada, NFP
Which provinces is your brokerage licensed in? And
which Canadian provinces do you have physical
office locations in?
NFP is licensed nationally. We have offices in British Columbia,
Alberta, Ontario and Quebec.
What's the number one benefit of operating nationally?
The benefit to operating a unified national insurance platform
center is our ability to fully understand the scope of our Canadian
economy. This has many advantages, enabling us to be even more
vigilant to ensure policyholders are insured to value, not just for
what they can pay. Our ability to share technical resources across
geographic regions is another benefit for our clients, and not
needing to develop niche specialties capabilities in each region,
since these already exist elsewhere.
What's the biggest challenge of operating nationally?
The biggest challenge in operating nationally centers on respecting
the differences in provincial and regional cultures and people's
mores. We strive to ensure our workforce feels belonging and
supported in their own unique ways. But this can sometimes
be challenging-for example, British Columbia has a different
business environment than Quebec. Recognizing the value of
cultural differences is good for people and good for business.
If other brokerages are looking to expand nationally, what
resources do they need to best undertake this strategy?
Brokerages intending to expand nationally must be committed
to significant investments in their information technology
and centralized systems management. In addition, effective,
transparent and ongoing internal communication across regions
and business lines is key. It's also important to have subject matter
experts who can delve into the ins and outs of every industry
and the risks associated with them. Understanding the needs of
our different geographic regions is vital. For example, while not
exclusive, clients in the Atlantic may need more marine expertise,
while Alberta-based clients might gravitate more toward energy
needs. In Saskatchewan, make sure to have strong agriculture
competencies, and in British Columbia and Northern Ontario it's
important to have a thriving forestry industry. Make it about a
partnership with every stakeholder, not just insurance.
10
The Ontario Broker
The Ontario Broker - Volume 23, Issue 3

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