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Wawanesa, barter the direct distribution to the brokerage in Quebec

by

Serge Therrien

,

Hubert Roy

31 July 2018 15:30

From left to right: Serge Gosselin, Patrick Bouchard, Maxime Duciaume, Michel Duciaume, Karine Gosselin, Diane Corbeil, Michel Venne, Marc St-Pierre, Vincent Gaudreau, Stephan Bernatchez, Jacques Gaudreau, Jean-François Desmarais, Manon Racette, Sébastien Lévesque, Christopher Johnson, Philippe Gadoury, Marie-Eve Fréchette, and John Bilodeau.

From the 1st of October, Wawanesa will not be a direct insurer in Quebec. Throughout the year that will follow, it will transfer its volume to dealers.

This is what officers of the insurer and the eleven brokerage firms with which Wawanesa has signed a number of agreements have revealed in the Journal of the insurance. The insurer will withdraw and complement of direct distribution. Quebec was the only place in Canada where Wawanesa had activities of direct distribution.

Why this change of course ? Carol Jardine, president of the division of property and casualty insurance in Canada to Wawanesa, explains that his company is experiencing a lot of success with the brokers. «Our competitors are adopting a strategy omnicanal. We take a different route. This we know well, and where we are strong, it is to deal with brokers. «

The insurer was yet a growth in Québec over the past three years. By this gesture, Wawanesa expected to go for a growth more profitable, » said Ms. Jardine. She also believes that it will be faster with brokers. The insurer believes to be able to double its volume in Quebec in three years.

«By the adoption of bill 141, the Quebec government has sent a strong message in favour of the council and of the choices which can be offered to the consumer. We share the same beliefs. In the current market, it is also necessary to have a size advantage. This is the size we have in the brokerage outside Québec. It is for this that we acquired Western Financial there are more than a year, » said Ms. Jardine.

 

 

 

100 employees to hire

Wawanesa employs a little over 200 people in Quebec. It has a call center in Montreal with 24 offices throughout the province.

The insurer will keep in place its team of underwriting and claims. It is different for the sales staff, including its agents. The latter, however, will be invited to join the 11 firms who have signed an agreement with Wawanesa. Those who will not may also, in a second time, consider job openings in Wawanesa, » said Ms. Jardine.

It is anticipated that the transition will take one year. The reason is simple. From the 1st of December, the mailing of the renewals will be done by the brokers.

The insurer will also remain present in the market of the insurance companies. It will target SMES in a first time. Wawanesa is the largest insurer for condominiums in British Columbia. It also ensures some units in Quebec. Brokers will have the option in this segment.

The insurer, however, reserve its market to the 11 brokers with which it has signed agreements for the next three years. All of this will be reviewed at the end of these three years. Each has negotiated its rates of commissions.

A year of talks

The discussions between the 11 brokers and the insurer are spread out over a year before I get to today’s announcement. They say, moreover, that one of the elements that have fostered the agreement is the high retention rate of Wawanesa, said Stéphan Bernatchez, president of Fort Insurance & Benefits.

Vincent Gaudreau, vice-president of Gaudreau, Insurance, adds that this arrangement provides a further option brokers Quebec. «It opens up a market with an insurer who wants to seek growth in the province,» he said.

Moreover, the 11 brokers who have signed agreements with Wawanesa are independent dealers. «It gives us an extra power,» said Michel Venne, president ofAssurancia Venne and Daughter. It does not undergo the influence of an insurer and we can make our own decisions. «

The 11 brokerage firms have agreements with Wawanesa

AMR Assurances Multi-risques, in business since 2007, is a firm of independent insurance broker located in Sherbrooke, totaling premiums of more than$ 8 Million. The firm employs more than 19 professionals in the property and casualty insurance. Christopher Johnson is the president.

Assurancia Venne and Daughter, in business since 2003, is an independent firm located in Joliette and St-Jean-de-Matha. Co-owner of the banner Assurancia, the firm maintains a volume of$ 5 Million in premium and employs 12 people. Michel Venne is the president.

Bouchard & Associés Solutions d’assurances, in business since 2009, is an independent firm located in Quebec city, with a total premium of$ 5.4 Million. The firm employs 13 persons, damage insurance, and acts as underwriter in the markets non-standard. Patrick Bouchard is the president.

Strong Insurance & Benefits, in business since 1927, is an independent broker located in Westmount, totaling premiums of more than$ 79 Million. The firm employs more than 95 individuals in the property and casualty insurance and employee benefits. Stéphan Bernatchez, is the president.

Gaudreau Insurance and financial Services, founded in 1999, employs over 35 passionate professionals insurance, strategically located in Montreal. The cabinet has climbed to nearly$ 25 Million of premiums. Jacques Gaudreau is the president. His son Vincent Gaudreau is the vice-president.

Assurancia Gatineau, in business since 1984, is an independent broker which has a total turnover of $ 9 million in premium. The firm employs 17 individuals in property and casualty and is a founding member and shareholder of the banner Assurancia. Michel Duciaume is the president.

The Group Lepelco is a brokerage firm in insurance of individuals and companies, in business since 1956. The firm has in its employment more than fifty employees serving more than 15,000 customers. Marc St-Pierre is the president.

Bilodeau Couture Assurances is an independent brokerage firm, damage insurance and financial services with over 60 years of existence, mainly operating in the region of Saguenay–Lac-Saint-Jean with over 35 professionals. Jean Bilodeau is the president.

Gosselin insurance Brokers has been in business since 1991. It is a family business from the father to the girl who counts a little more than 10 employees. The office is located in the rural region of Montérégie Ouest. Karine Gosselin is the president.

Group LCD Insurance, formed from the merger of the firms Lévesque, Side and chantal bélanger in 2016, is a broker who operates in 3 regions, Berthierville, l’assomption, and Mirabel. Totaling more than$ 3.5 Million of premiums, the firm currently employs 5 people. Sébastien Lévesque is the president.

Insurance 3G is established in the Mauricie region for almost 50 years. It is an independent brokerage firm representing nearly 15,000 customers. Philippe Gadoury is the president.

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