The insurance industry is changing. Disruptors such as technology and new customer buying behaviours are changing the way we do business. The current market landscape sees the continued growth of another disruptor to brokers: the direct channel. This is one reason why investing in our brokers through education and development is more important than ever.
Earlier this year, RSA launched a new learning management system, Wise Up™, to help brokers achieve their professional development hours. Wise Up™ provides brokers access to education programs anytime and anywhere with the flexibility to choose learning offerings, a way to track continuing education hours and print their certifications. We soft-launched Wise Up™ in Alberta, Manitoba and, BC with a full launch in Ontario. The name symbolizes the upward trajectory of brokers’ careers when they use it. By using Wise Up™, brokers can become smarter, better and faster in order to move their careers forward and upward. It also allows them to ‘top up’ their knowledge and enhance what they already know.
Within 48 hours of launching in Ontario, we had 80% of the courses filled up and a wait list of more than 600 brokers, so we added new webinar sessions to meet the demand. In Ontario alone, we helped facilitate over 3,000 continuing education hours in two months. The program has been such a success that we are currently working on the rollout of this program across all regions in 2017.
Wise Up™ was created to help with broker professional development as part of our long-term commitment to and support of the broker channel. We truly believe in the value of a broker and the knowledge and service they can provide to their clients.
We see brokers as trusted advisors, and when brokers are well informed, they can educate their clients and further establish that role. This type of personal service and the ability to educate clients is something the direct channel does not offer.
RSA’s investment in broker education goes far beyond best practices around selling our product or using our tools. It’s a macro-level investment in setting our broker partners up for long-term success.
We see Wise Up™ as a way to give brokers an edge. Soft skills and training in areas beyond insurance are just some examples of the courses offered through Wise Up™. One of our most recent courses instructed brokers on the basics of LinkedIn and how to use it as a tool to build their brand as a trusted advisor. This course outlined best practices, and to date, more than 300 brokers have registered for it.
The content on Wise Up™ offers brokers information and training that is specifically tailored to the insurance industry. For example, a broker could potentially take a course on LinkedIn at a continuing education centre that is similar to ours, but the content will likely not be customized for his or her role, and there would be a cost associated with it.
With an insurer-designed education program such as Wise Up™, brokers are viewing LinkedIn content through the insurance lens, as opposed to a more generic viewpoint – at no cost to them or their brokerage. Therefore, the cases and scenarios used in their training are specifically tailored to capture the nuances of the Canadian marketplace and client, while showcasing RSA’s thought leadership across various sectors of the business.
Having broker education delivered by an insurance partner gives brokers material related to their needs, rather than a ‘cookie cutter’ offering. Insurers must invest in customized continuing education for brokers, as it is not only instrumental to the success of the broker channel, but can be a powerful driver of mutual long-term growth.
To find out more about our commitment to broker education, visit www.rsabroker.ca/ rsa-advantage/education-training.
