Amid an insurance landscape where large firms often swallow up smaller players, independent brokerages must carve out a different path.
Whether doubling down on local relationships or niche specialties, these firms face pressures to scale and grow in the present insurance distribution environment.
Hugh Watt (pictured), newly appointed chief operating officer at Acera Insurance, is clear-eyed about this test for independents.
“Insurance is an ‘infinite game’,” he told Insurance Business. “There’s always a need, across geographies, industries, and demographics. However, staying independent in a consolidating market is one of the biggest challenges.
“What makes independence so special is the ability to move quickly, serve clients personally, and take the long view. But that requires strong leadership, discipline, and smart investments.”
Acera Insurance bills itself as Canada’s largest independent, employee-controlled brokerage. Proudly 100% Canadian-owned, the organization has expanded to 1,300 employees in over 70 offices nationwide, commanding $1.4 billion in gross written premiums.
So, what do independent brokerages like Acera do to stay competitive?
“It comes down to client relationships,” Watt said. “Clients want personalized advice from trusted advisors, not a commoditized, transactional experience.” This personalized approach sets independent brokers apart in an era of algorithm-driven insurance platforms and mass-market consolidators.
Watt has had experience on both sides of the independence equation. In his previous roles at Foster Park Brokers and later at NFP following the acquisition, he saw firsthand what happens when independent culture gets absorbed into a national or global structure.
“At Foster Park, I learned the value of close-knit relationships and how trust can be built deeply into a team. At NFP, I gained experience operating at scale: integrating acquisitions and developing national strategies,” Watt said.
At Acera, he sees the chance to combine the best of both: the intimacy and accountability of a small firm with the resources and ambition of a national player.
“What’s exciting for me is that across our Canadian footprint, I’ve seen deep local roots, offices that are truly embedded in their communities, but we also have the scale to compete nationally,” Watt said. “That combination is powerful.”
Employee ownership is a defining feature of Acera, and one that helps it stand out as an independent. Walking through offices in his first weeks on the job, Watt has already observed how this has impacted culture at the brokerage.
“Even in my first week, I’ve seen people making decisions with pride and ownership,” he said. “(Employees) are not just working for a company, they’re working for their company.”
As COO, Watt’s focus will lie in scaling the brokerage without losing what makes it distinct: its independence and entrepreneurial spirit. Scalability, efficiency, and culture are the three pillars guiding his operational priorities.
But the COO is also quick to push back against the idea that scale requires sacrificing the local character of individual brokerages.
“We need to build strong, repeatable processes that allow our teams to thrive without unnecessary bureaucracy,” Watt said. “That doesn’t mean we eliminate regional differences, but it does mean having consistent, repeatable processes that help our teams succeed.”
Watt wants to drive clarity, meaning clear roles, clear systems, and clear accountability, while maintaining the firm’s entrepreneurial spirit. Additionally, he is aiming for seamless client experiences.
“My role is to ensure that our operational backbone supports our promise to clients.
That means investing in the right systems and empowering leadership to foster collaboration across regions,” Watt said.
“The goal is a consistent client experience, no matter where they are. We want it to feel the same whether you’re working with a team in Victoria or in Halifax.”
