June 4, 2018 07:00
Several challenges have been put on the road insurance Group Totten in 2017, while the wholesaler was merged with brokerage Service national SCN in the month of June, two years after its acquisition. «Through all the challenges we have overcome, we have experienced a beautiful growth of between 10% and 15%. It is very well given the circumstances, » says Guy Boissé, president, sales and insurance operations.
The main challenge faced Totten and SCN in the fusion is technological, » says Mr. Boissé. «We are working with two databases. We have managed to combine them and only use one. «
Totten think about the ways with which it can migrate to an environment that is increasingly digital. «With our size, we do not have the option to direct. It is a lot of investment, but we can reduce our operating costs in the medium term. Once our activities will be digitized, we will need less manpower, » says Mr Boissé. He adds that companies that did not adopt the technology will be quickly disadvantaged «.
Moreover, Totten has completed the acquisition of a firm in ontario last January just for the technology it had developed. EasyInsure offers a range of products, fully digital for businesses. Totten intends to use his numerical abilities to better serve its current and future customers.
The wholesaler has taken advantage of 2017 in order to proceed with the launch of a new programme for the classes of insurance in particular.
Mr. Boissé says also monitor the trends of the brokerage firms and insurers. «We notice a lot of mergers and acquisitions brokers. Otherwise, insurers are withdrawing from some markets and scale back their appetite. Some of them explore niche markets and well-established. This is not new, but it is a trend rather cyclical. »