While some brokers are shifting to the internet to grow their book, one brokerage celebrating 100 years in business is reversing that trend – not even offering quotes over the phone.
“We’re actually going in the opposite direction,” says Dan Reith, principal broker for Reith & Associates in St. Thomas, Ont. “We’re really emphasizing the face-to-face. We’ve developed an exclusive discovery method of data gathering that we use: we don’t quote over the telephone with anybody; we don’t do internet quoting.”
Reith told Insurance Business that the brokerage uses a ‘discovery method’ to collect large amounts of personal data which allows brokers to provide a wholistic approach to providing solutions to the client problem.
“We’re not collecting information to provide a price today, but to develop a plan that we can implement over the long term with the client,” says Reith, who describes the wholistic approach to helping develop the life insurance aspect of the business, which complements the P&C lines.
“We started that back in 1994, and it has just gotten bigger,” Reith says about the life insurance product line. “We’ve now merged the two together so that we are working the life insurance investment component piece so that it is aligned with the property and casualty side.”
Reith describes the integration of the life product with the traditional P&C offering has been a process, and will continue to evolve.
“Like anything, it hasn’t happened overnight. It is a long-term vision for us,” he says. “It has involved training of our staff and the team to get them used to getting those referrals and inclusions. Certainly educating the client so they know we are doing this. Is it working? Yes. Are we happy with the level of progress? Yes we are.” (continued.)
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Reith & Associates, which is celebrating a century in business, had another reason to celebrate last month, when the Insurance Brokers Association of Ontario named it brokerage of the year at the
IBAO awards gala in Ottawa, Ont.
“Winning it was a surprise,” says Reith. “It is very rewarding – considering the brokerages we were up against.”
Reith points to the strategic plan that was put into place for dealing with clients – whether they be for an existing client or a prospect.
“We have people working in areas that reflect their unique ability – and that has helped us get people into the right roles,” he says. “Staff training, continuing education; and celebrating people’s accomplishments, both personally and professionally. We’ve found that helps the teamwork that leads to an exceptional client experience.”
