BARBARA HAYNES admits that insurance wasn’t her chosen industry right off the bat. “I was a horse-mad teenager, and I wanted to be a show jumper,” she says. “But by the time I got to about 17, I thought maybe I’d better choose something more practical.”
After contemplating law school, she decided to try the world of business. “At the time, my dad suggested that I look at management training programs in insurance, banking and hotel management, which I did,” Haynes recalls, “and the only reply I got was from an insurance company, asking for an interview.”
Haynes subsequently secured that position, working with Sun Alliance Insurance in the UK. After three years, an opportunity arose to join one of the organization’s Canadian branches. “I came to Canada seeking adventure, and I’ve never looked back,” she says.
During the course of her 25 years in the industry, Haynes has gained experience in a wide range of roles, including underwriting management, sales leadership, marketing and operations, with both insurers and brokers. In 2009, she became founding CEO of DAS Canada, which is currently the leading legal expense insurance market in the country.
“I thought it was a bit like trying to push water up a hill because the product was barely known at all in Canada,” she says. Although legal expense insurance has a substantial presence in Europe, where DAS is headquartered, the product initially suffered from a lack of awareness in Canada. However, Haynes points out that there’s an upshot to coming from behind.
“The research we’ve done shows that because there’s a real issue of access to justice in Canada, the potential to address that issue and build this market is huge,” she says. “It’s a big challenge, but a big opportunity as well.”
When DAS Canada opened its doors in 2010, Haynes says, there were a few companies in Canada that offered legal expense insurance “as a sideline to their main area of business,” but DAS Canada was the first insurer in the country to focus solely on this particular product.
“We live, eat, dream legal expense insurance – it’s what we do,” Haynes says. “And we are very much invested for the long-term market. We have the backing of ERGO and the Munich Re Group, and they understand that it takes a long time to establish a market. We’ve also had the support of other members of the DAS Group, so we’ve been able to fast-track a lot of our learning.”
DAS Canada has also invested significantly in the people needed to build a successful operation in this country.
“We’ve got our Canadian underwriting, marketing [and] claims right here in Canada, and we’ve got salespeople across the country,” Haynes says. “We put a lot of effort into building strong relationships with brokers, insurers, associations and law firms. That requires a lot of investment and resources, and it’s a big area of focus for us.”
The work has clearly paid off. “We’re the fastest-growing DAS startup there’s been so far,” Haynes says.
“We’ve now got around 600,000 customers, so that’s 600,000 Canadians who have greater access to justice. We’re also leading the market. I feel pretty pleased about that, the team I’ve worked with and what we’ve been able to accomplish.”
Haynes’ passion for her role as leader of DAS Canada is evident.
“I love startups, and this is the most fun ever,” she says. “The product is really worthwhile. It speaks to a need in people’s lives – access to justice.”
“We want to expand what we do to include other legal services that respond to other life events that people face,” she says. “Things like wills, power of attorney, potentially contract review – it’s not just legal disputes or legal insurance. We’re keeping our eye on doing that within the next couple of years.”
But for the near-term, Haynes has committed the company to focus on making a profit in 2018. “We’re on track to do it,” she says. “It’s really growing into our expense ratio, if you like.”
Organizational culture is another front-and-centre focus for Haynes.
“We’ve grown the company and we’ve grown the staff, and we’re now up to about 45 staff internally,” she says. “The customer is always at the heart of what we do. But a key value for us – and we’re very much a values-driven organization – is also being a great place to work. I consider making that happen to be one of my essential roles as CEO.”
In 2016, the business was included on the Best Workplaces in Canada list compiled by the Great Place to Work Institute.
“We were pretty excited about [that recognition],” Haynes says. “When you’re growing something quickly, you can’t just assume that’s going to continue. It needs a lot of work. So [we’re] adding new people [and] lots of skills, which is great, but you’ve got to make sure they’re all working together well. Our people work very hard, but it’s also important that they’re enjoying themselves and having fun … to lighten those stressful moments.”
Despite the challenges involved, Haynes feels fortunate to have had the opportunity to be DAS Canada’s founding CEO.
“Not everybody gets the chance to build something brand new right from the beginning,” she says. “I feel very lucky to have done that, working with a great team of people. It’s been absolutely amazing.”
