The arrival of 2013 marks a special milestone for Brovada as we celebrate our 10th year. Over the past decade we have seen many changes and are thrilled to have become the leader in the connectivity space in Canada. What started as a small New Brunswick based company has proudly grown to serve over 950 brokerages and 40 insurers while processing approximately 80% of all the real time traffic between Canadian carriers and brokers.
For me the last 10 years have flown by (literally). Since the beginning of Brovada I’ve maintained Super Elite status with Air Canada. To attain Super Elite one must fly a minimum of 95 times or attain 100k miles in a given year. I’ve always accomplished this feat by having over 95 flights. That’s an average of almost two flight segments per week. Super Elite benefits do make flying easier to endure but I’d definitely rather be home than away. With most of the insurers based in the larger metropolitan cities it has been a challenge to find time at home in Saint John, New Brunswick. Technology has helped bridge the gap by allowing meetings to occur virtually but when it comes to relationship building nothing beats a face to face meeting.
Like Brovada, the insurance industry has changed substantially over the last decade. Most Brokers would never have anticipated the switch in consumer buying habits to change so dramatically. What made brokers strong in the first place was the client relationships that were forged. The broker was an active member of the community and the community supported them. This relationship has been under pressure in the last couple of years as consumer buying behavior has shifted to favour lower-cost over higher-service. As community-focused as they may be, consumers have started to look to the lower cost options.
As many brokers make moves to adapt to the changing landscape they must retain the characteristics that made them what they are. Relationships. As long as the price spread between direct writers and insurers is within a certain range customer service, reputation, visibility and knowledge become essential tools for success. Technology can reduce the price gap and for all of the other differentiators it just comes down to good leadership and a solid team. Direct writers have no advantage beyond price and when it comes to sheer frontline underwriting capability a broker that knows their customers should have a strong advantage over a web-based/call-center interaction.
I’m very proud of the innovation that Brovada has brought to the marketplace and hope that it will continue for years to come. I know it would not have been possible without the support from our customers, colleagues, and friends; and for that I want to thank you all.
For those of you attending the Insurance Canada technology conference in March we will be celebrating Brovada’s 10th year at our hospitality suite. I hope to see you there.
For me the last 10 years have flown by (literally). Since the beginning of Brovada I’ve maintained Super Elite status with Air Canada. To attain Super Elite one must fly a minimum of 95 times or attain 100k miles in a given year. I’ve always accomplished this feat by having over 95 flights. That’s an average of almost two flight segments per week. Super Elite benefits do make flying easier to endure but I’d definitely rather be home than away. With most of the insurers based in the larger metropolitan cities it has been a challenge to find time at home in Saint John, New Brunswick. Technology has helped bridge the gap by allowing meetings to occur virtually but when it comes to relationship building nothing beats a face to face meeting.
Like Brovada, the insurance industry has changed substantially over the last decade. Most Brokers would never have anticipated the switch in consumer buying habits to change so dramatically. What made brokers strong in the first place was the client relationships that were forged. The broker was an active member of the community and the community supported them. This relationship has been under pressure in the last couple of years as consumer buying behavior has shifted to favour lower-cost over higher-service. As community-focused as they may be, consumers have started to look to the lower cost options.
As many brokers make moves to adapt to the changing landscape they must retain the characteristics that made them what they are. Relationships. As long as the price spread between direct writers and insurers is within a certain range customer service, reputation, visibility and knowledge become essential tools for success. Technology can reduce the price gap and for all of the other differentiators it just comes down to good leadership and a solid team. Direct writers have no advantage beyond price and when it comes to sheer frontline underwriting capability a broker that knows their customers should have a strong advantage over a web-based/call-center interaction.
I’m very proud of the innovation that Brovada has brought to the marketplace and hope that it will continue for years to come. I know it would not have been possible without the support from our customers, colleagues, and friends; and for that I want to thank you all.
For those of you attending the Insurance Canada technology conference in March we will be celebrating Brovada’s 10th year at our hospitality suite. I hope to see you there.
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