Headquarters: Dartmouth, NS
Website: stormins.ca
What are your specializations?
We’re a multi-channel group of insurance organizations committed to partnering with insurance companies, insurance brokerages, partners, associations and other organizations to create and/or deliver custom solutions tailored to our clients’ needs. Our in-house innovation hub makes us very unique and provides us the ability to create and implement digital insurance solutions. The operations within the group include a retail personal lines brokerage, a commercial lines operation, an insurance MGA/wholesaler, a purely digital insurance operation and a dedicated group national call centre.
How do you maintain a competitive advantage?
To be an established leader in the industry, we are creative in designing digital solutions that meet our clients’ insurance needs, [we] innovate new distribution models and form new partnerships, and we’re strategic in our planning and delivering on our goals. And when you have the right technology in place, supported by top talent leadership and teams, there’s no limit to what’s possible.
What 2020 accomplishments are you most proud of?
Our most significant accomplishment has been achieving our Vision 2020 goal of doubling the size of our business and achieving complete national status with our most recent acquisition in Quebec. We expanded our in-house digital [capabilities] and innovation through the expansion of our in-house innovation hub. Our team enabled us to introduce system efficiencies, offer new insurance programs, and create a great customer experience in the quote, bind, and issue digital customer experience.
What else made 2020 a banner year for your brokerage?
Our leaders and employees made the transition from the office to home-based working without service disruption or delays, allowing us to exceed our clients’ expectations. Our exponential growth rate also gave us the opportunity to create new jobs in the industry.
What did you do differently last year?
During one of the most challenging years our country has endured, with the engagement of our national team, the Storm Insurance Group forged ahead with our strategic plans, acquisitions and growth initiatives. We were required to put our business continuity plan into action. Backed by two years of capital equipment investment for our employees, we were able to respond to the provincial state of emergencies due to COVID-19 and move 100% of employees to work-from-home arrangements within 24 hours without a moment of customer service delay.
What’s the biggest challenge facing brokers in 2021?
Insurance brokers are challenged with finding competitive insurance products and rates as insurance carriers leave specific markets and/or discontinue products. The hard market is affecting brokers’ ability to place 100% risk, leaving exposures for their clients. Additionally, with a limited pool of insurance professionals, we are all vying for top talent in a limited talent pool.
What can your wholesale or insurer partners do to help you write more business?
With 40 years in the insurance industry, recognized for our leader-ship in innovation, we continue to create new insurance products and programs for our clients. As we expand our insurance programs and recognize the opportunity for growth is there, we look to our insurance partners to say yes and partner with us to build on our growth model.
