Brand matters, insurers agree, when looking to grow

by Donald Horne17 Aug 2015
Companies looking to expand their reach are realizing that branding is just as important as product and service to capture a larger market share.

The nation’s largest MGA is poised for expansion to two markets – and branding has been an integral part of that expansion.

“We’re aiming to get stronger out West and in Quebec,” says John Hamilton, president and CEO of Financial Horizons Group – a company that has been refreshing their branding and creating a consistent image across the country, with an updated logo and signage. “We’ve set up an infrastructure that could allow the company to double in size and at some point, we may even go public.”

Financial Horizons has been active in the market, acquiring three of the most profitable MGAs in the industry – including the mutual fund business Excel Private Wealth and the R.G. Packman & Associates group of companies – expanding as far north as the Yukon Territory.

Other insurers have gone the celebrity route, including Aviva Canada, which announced a multi-year partnership with Canadian tennis icon Milos Raonic, and entered in to a 10-year deal with Tennis Canada, gaining naming rights to the Toronto facility now known as Aviva Centre.

For one CEO of a large specialty insurer, your brand can be interpreted as what you are providing the client.

“Focus on your end customer proposition,” says Andrew Burke, the CEO of DAS UK Group. “That for me becomes your brand.”