Humania Assurance and insuranceforchildren join forces

by David Keelaghan19 Oct 2016
One of Canada’s newest MGAs is teaming up with one of the country’s oldest insurers as Humania Assurance and insuranceforchildren have signed a distribution agreement. The partnership means that Humania will now distribute its insurance offerings across the digital platform and advisor network.
In addition, the Quebec-based insurer will develop new products specifically for children to be marketed under Child Plan, which is insuranceforchildren's leading proprietary brand.

Humania’s flagship Children360 Critical Illness plan will now be marketed by insuranceforchildren, which has built a reputation for its innovation in the digital space.
Following the announcement, President of insuranceforchildren, Michael Lampel explained his hopes for the partnership. “We view Humania as a forward thinking innovator of insurance products geared towards meeting the unique financial challenges and goals of today's millennial families and their children,” he said. “As their MGA, we will be able to provide millennial families with a full range of proprietary children's insurance, education savings and investment products designed for the children's category.”
Lampel started insuranceforchildren in 2013 after noticing a real dearth of insurance products that focused on the child market. The limitations of RESP meant he created Child Plan, which would allow parents and grandparents to provide for a child’s future, but in a way that was sheltered from taxation. 
Humania Assurance’s history dates back to 1874 and today it provides coverage to more than 200,000 Canadians. The firm is hoping to increase that number through further modernization efforts such as this latest agreement with insuranceforchildren.

Related stories:
Forgotten insurance plan perfect for children, says former RBC advisor
Insurance business badly needs new blood, says 42-year industry veteran