Advocis is the presenting sponsor for Health and Life Insurer of the Year at this year’s Insurance Business Canada Awards (IBCAs) virtual ceremony and Greg Pollock, oresident and CEO, shared some insights on the success of life and health insurers in today’s climate.
“As life and health insurance firms continue to adapt to changing markets and economic disruption, their ability to anticipate and plan for change can set them apart from their counterparts,” said Pollock.
“Insurance companies have a unique opportunity to create new sources of revenue by rethinking their traditional roles, and innovatively addressing the ever-evolving changes in customer behaviours which will help to shape the sector’s longer-term future,” he explained.
More than ever, companies are open to testing new strategies, changing legacy processes, and embracing new technology to stay resilient in a demanding market environment.
While forging into something new also introduces its own uncertainties, Pollock emphasized that taking on new risk had offered Advocis the promise of building on its own pandemic-related accomplishments. From moving to more flexible and innovative working models, to implementing new technologies in weeks, the company had to come up with solutions quickly amid uncertainty.
“Advocis is the largest voluntary professional membership association of financial advisors in Canada,” he said. “We represent more than 17,000 member-clients across the country. One major innovation that we were proud to release within the membership just over a week ago was Digicat 2.0.
“Thanks to the contributions of our member-driven Technology and Innovation Committee (formerly the Technology Task Force), DigiCat 2.0 is a catalogue of recommended digital tools curated by the TIC that is available for free to all Advocis members.”
The catalogue is meant to act as an efficient resource that will enhance the research process of new digital tools for advisors by pointing them to best-in-class software options across categories such as CRM, financial planning, and data analytics.
“The new version also expands on the content from DigiCat 1.0 and introduces sections on digital marketing and rising stars,” Pollock noted.
“The future may be hard to predict, but the emergence of a handful of accelerating technology firms is poised to continue to transform the future of the insurance industry,” said Pollock.
“At Advocis’s sponsored panel at the 2021 Insurance Business Awards, we hope to share how the eight insurers nominated for our award have prioritized meeting the needs of their customers this year, and the key role that education will play in meeting client needs.”
This year’s IBCAs will be held virtually on November 17 and 18, where Pollock and several other industry leaders will help Insurance Business celebrate the accomplishments of industry professionals in a challenging environment.
