The Canadian Association of Financial Institutions in Insurance (CAFII) has appointed Wally Thompson as vice chair of its board of directors.
Thompson is vice president, head of distribution, Affinity Markets at Manulife. He has served as director of CAFII since 2018.
CAFII is a not-for-profit industry association representing financial institutions involved in selling insurance through various distribution channels across Canada, including client contact centres, agents and brokers, travel agents, direct mail, branches of financial institutions, and the internet.
CAFII collaborates with government and regulators at the provincial and territorial levels to develop a legislative and regulatory framework for the insurance sector. The association’s aim is to establish appropriate standards for the distribution and marketing of all insurance products and services.
CAFII’s membership comprises 15 organizations, which include the insurance arms of major financial institutions such as BMO Insurance, CIBC Insurance, Desjardins Insurance, National Bank Insurance, RBC Insurance, Scotia Insurance, and TD Life Insurance Company.
Other noteworthy industry players like Assurant Canada, The Canada Life Assurance Company, Canadian Tire Bank, CUMIS Services Incorporated, Manulife, Securian Canada, and Valeyo are also part of CAFII’s roster of members.
Chubb Life Insurance Company of Canada became a member of the association earlier this year, with senior vice president and head of accident and health Rahul Kakar joining the board of directors.
“I am delighted to be appointed to the board of CAFII,” Kakar said in February. “Together, we can take proactive steps to make insurance more accessible and simpler for Canadians while continuing to provide a great customer experience for our clients.”
Last year, CAFII appointed National Bank Insurance CEO and president Peter Thompson as board chair, succeeding Chris Lobbezoo after a two-year term.
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