RSA Canada : Everything you need to know

RSA Canada: Everything you need to know

Year founded in Canada: 1845
Canadian employees: 2,600+
Net written premiums in Canada (H1’18): £729 million (approx. CA$1.23 billion)
RSA Group customers: 17 million globally

Founded over 300 years ago, RSA Group is a general insurer working in over 140 countries and serving more than 17 million customers around the world. RSA Canada first opened for business in the mid-1800s as Royal Insurance during a time when fires were a massive threat impacting Canadians. Today, RSA is one of Canada’s largest property & casualty insurance companies.

The RSA Canada group of companies is comprised of Roins Financial Services Limited, Royal & Sun Alliance (RSA) Insurance Company of Canada, Quebec Assurance Company, Johnson Inc., Unifund Assurance Company, Western Assurance Company, Ascentus Insurance Ltd., Canadian Northern Shield (CNS) Insurance Company and RSA Travel Insurance Inc. CNS is solely focused on serving the insurance market in BC. Western Assurance offers coverage for homeowners, automobiles, condominiums, tenants, and boats through a distribution network of 100 independent brokers across Ontario. Johnson Insurance is headquartered in Newfoundland and Labrador, and its agents distribute insurance across Canada.

On the menu

RSA insures around a million cars and over half a million homes in Canada, and distributes a range of business, marine, and travel insurance products in addition to its home and auto offerings. Under its personal insurance lines, RSA also provides condo, leisure/lifestyle, such as coverage for watercrafts and seasonal dwellings, and private client insurance geared at high-value insureds.

In its commercial lines offerings, RSA has a healthy appetite for small and medium-sized business across a variety of industries, and offerings in this space include individual rated commercial auto and property & casualty. Its P&C packages cover general liability, property, business income, crime, inland marine, and equipment breakdown, and provide trade-specific enhancements for certain segments. Insurance products span from auto trade and construction to bed & breakfast and realty packages, though unique solutions for start-up businesses, residential condo corporations, hospitality businesses, alongside other industries (depending on the province), are also available. 

RSA’s Global Specialty Lines is meanwhile focused on covering large, complex and multinational risks. The suite of product offerings includes commercial auto, project construction, energy, equipment breakdown insurance, E&O insurance, executive & management liability, marine, national programs, property insurance, and others, and is intended for a diverse set of clients, from mid-market commercial customers who have regional insurance requirements to global clients that need admitted international paper.

RSA’s broker proposition

RSA believes strongly in the Canadian broker channel, maintaining local regional offices across Canada that support the brokers it serves. Through regional broker councils that the insurer holds across the country and its national broker survey, RSA welcomes insights from its ongoing partnerships. Broker training is a key part of RSA’s proposition to this distribution channel, and is carried out through its Making Partner program with Queen’s University, where brokers get in-depth technical training and access to a broker-focused education curriculum. RSA also finances loans to its broker partners.

RSA Canada’s head honcho attributes the company’s positive performance in 2017 to the insurer’s commitment to the broker channel.

“We’ve spent a lot of time and focus over the last three years focusing on improving our delivery to our brokers,” said Martin Thompson, president and CEO of RSA Canada. “We believe we’re achieving these results because we’ve become better at pricing and better in terms of our delivery to our brokers.

“Moving on, our focus will continue to be about delivering for our brokers, and making sure we’re always improving ourselves as a company to do business with – whether that’s through sharper pricing, better operational delivery, creativity or technology. We want to give brokers tools that will enable them to interact with us in a much more efficient way.”

Eyes on the road

RSA Canada has promoted initiatives focused on road safety and driver education in Toronto. Its TruceTO hub has a range of tools, resources and tips on road safety that include infographics, quizzes, a podcast, and educational videos.

“As providers of auto insurance, RSA has a vested interest in road safety as a whole,” said RSA Canada senior vice-president of personal insurance Donna Ince. “By encouraging Canadians to look out for one another, be more mindful of their surroundings and educate themselves on the rules of the road, we hope to help reduce fatalities and increase the level of harmony on Canadian roads.”

The initiative is well-founded based on a survey from June 2018 conducted by RSA Canada that revealed pedestrians, cyclists, and drivers in Toronto agree that other drivers are the main cause of distress on the roads. Numbers from the Toronto Police Service Public Service Data Portal back up the concerns, indicating that 36 pedestrians, 13 drivers, and four cyclists were killed in collisions with vehicles in 2017. Meanwhile, RSA’s survey found that 57% of cyclists and 44% of pedestrians want their cities to invest in driver education.

RSA Canada : In the news