Toronto’s Liberty Grand buzzed with excitement on Nov. 13 as the 2024 Insurance Business Awards brought together leading professionals to honor the Canadian insurance industry’s most outstanding achievements.
From brokers and brokerages to insurers, underwriters, and insurtech firms, the event celebrated individuals and organizations driving innovation and setting benchmarks for excellence across the sector.
“It’s a wonderful event, and I love that it celebrates the best in our industry while bringing key players together,” said Cameron Copeland, president and CEO at SPGC.
Highlights of the evening included recognition for business development, digital innovation, and distinguished awards such as MGA of the Year and Brokerage of the Year. Spanning a diverse range of categories, each award celebrated the critical contributions and lasting influence of leaders shaping the future of the insurance industry.
This year saw remarkable advancements in AI applications within insurance, revolutionizing capabilities in client sourcing, workflow management, and risk assessment. Given the profound impact AI has had on the sector, sponsoring the Award for Digital Innovation in a Brokerage was an easy choice for Allianz.
Reflecting on the sponsorship, Kyle Sparkman, managing director and head at Allianz Global Assistance Canada shared, “We’ve specifically focused on brokers and digital innovation this year, so this sponsorship was a perfect fit.”
Taking home the coveted award was Billyard Insurance Group, which, in the face of rapid growth, strategically implemented AI to streamline and optimize workflow management.
“A couple of years ago, we were the fastest-growing brokerage in the country, which brought massive scale. We leveraged innovation to create workflows that helped manage that scale. We developed an AI underwriting tool to drive our business forward,” said Stephen Billyard, president of Billyard Insurance Group.
Reflecting on the future of AI in the insurance market, Billyard emphasized that it will continue to transform the industry. “It’s now the backbone of our business and drives everything we do. It’s not about reducing headcount; it’s about increasing efficiency and improving underwriting accuracy. It’s not about replacing jobs—it’s about making us better,” he said.
This year’s awardees also stood out for their unwavering dedication to service. Another one of the evening's notable wins went to Cansure, who took home the prestigious MGA of the Year award. Having previously earned this honour in 2019, the firm's consistent commitment to delivering exceptional client service continues to set them apart.
Revealing the secret to the firm’s success, Cameron Copeland, CEO and president of SPGC (a subsidiary of Cansure), shared, “Consistent execution.”
“We’re focused on continuously improving for our carrier partners and staff,” he said. Offering advice for younger professionals and firms aiming for success, Copeland emphasized, “You’ve got a world of opportunity, with hard work you can open every door and really achieve your career potential.”
Also emphasizing the importance of supporting clients, Link Canada sponsored the Business Development Manager of the Year award.
“We thought it was important to be part of this award because these are the individuals who truly connect brokers to the insurance industry and help create that friendly, welcoming environment we all want to see,” said Christopher Aloussis, co-chair at Link Canada.
Reflecting on the key traits of a successful business development manager, Aloussis said, “Authenticity – it’s not about stretching the truth or overpromising. It’s about helping people with solutions and figuring out how to get through challenges.”
Similarly, Medavie took home the prestigious Life and Health Insurer of the Year award, a true testament to their unwavering commitment to enhancing the lives of Canadians.
“This is huge for us as a company because every day we’re focused on improving the well-being of Canadians, and sometimes we lose sight of just how far we’ve come,” said Anita Swamy, vice president of operations at Medavie Blue Cross. “It’s great for both the team and the company to be recognized in this way, and it fuels us for what’s next.”
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