Your Intact: 7 Lessons from 2023

7 Lessons from 2023

Key insights to help us – and you – raise our game in 2024

Lesson 1:

Plan for volatility.

From record-setting extreme weather events to local repercussions of global political crises, 2023 underscored that we are in the risk business. That’s what we do every day: We help people mitigate risk. As an industry and as a company, we need to meet volatility with a plan, and work to turn it into opportunity.

Louis Gagnon

Lesson 2:

Grow – there is no "or."

If you want to succeed, you need to grow. As a leader, you need to create growth opportunities for your people. As a business, you need to create growth opportunities for your partners.

When we pursue profitable growth, personal growth, professional growth – everyone wins, especially the customer.

Debbie Coull-Cicchini

Lesson 3: Control what you can.

Extreme weather events remind us that we need to focus on what we can control.

We can’t control wind speeds.

But we can redeploy resources, internalize supply chains and run a disciplined business that supports brokers and customers through tough times.

Natalie Higgins

Lesson 4: Partner with experts.

The challenges insurance needs to solve these days – be it auto theft in Ontario or climate change – are huge. We can’t tackle them alone. We need to partner with experts. We need to collaborate with governments. Above all, insurers and brokers need to work closely with each other – customers deserve no less than our best.

Danny Da Costa

Lesson 5:

Stay close –

stay relevant.

Insurance is a highly scrutinized industry, because it matters to all Canadians. Whether the issue is the affordability of ordinary P&C insurance or the availability of catastrophic peril solutions, brokers and insurers need to be part of government and regulator conversations, to ensure sustainable protection for customers.

Luisa Currie

Lesson 6:

Empower the customer.

Claims arise from traumatic events for a customer, from everyday accidents to catastrophic weather.

We can empower customers by being transparent about what they can expect throughout the claims process.

Etienne Berlinguet

Lesson 7:

Carpe diem.

Hard market, high interest rates, high multiples, new players, threatening disruptors, cyber threats, the rise of AI – the market and the business environment we operate in is never perfect.

It’s our job to rise to the challenge, and help brokers thrive in all environments.

Rick Morris

Which of these best describes your year?

Tell us and share with colleagues on LinkedIn.

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