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Message from the President
IBANS
Carolyn James, CAIB
President IBANS
As I sit down to write this column the
winds of November are making the air
crisp and I have to reluctantly admit that it
is probably time to hang up my golf clubs
for another season. My Canadian o lympic
mittens, while eye catching, do not help
my swing or my putting stroke much. So
on to reality, winter is truly just around the
corner.
Since taking on the role of association
president I have been asked several times
what I perceive the challenges are facing
the independent broker today. I thought I
knew the answers but now I’m not so sure.
The easy answers are always the obvious
ones, broker consolidation, market consolidation,
increased competition from the
banks and direct writers and perpetuation.
These should be fairly obvious to anyone
either involved in, or reporting on, the
insurance industry so why then have I
been asked the same questions by every
interviewer I’ve spoken with? Perhaps it’s
because we are all seeking some mystical
insight that will be the divining rod of the
industry. Sorry folks but you will have to
seek someone far more intelligent than
yours truly for that one.
What I can offer up is some observations
I’ve made over the past few years and
hopefully some positive indicators for the
future.
The Independent Broker Channel has been
around for a long time and has weathered
many a threat. We are a resilient bunch
who persevere in the face of criticism. We
go about our business quietly for the most
part and earn the respect of our clients one
by one. We can be found behind hockey
benches or helping to raise money for
those less fortunate. I think of the
initiatives of my own staff over the past
year, collecting shoes for Haiti, food
for the local food bank, clothes and
furniture enough to stuff a van for
charity, sponsoring a kennel at the local
SPCA and adopting two foster children
through Plan Canada and I realize that this
is happening at a lot of broker offices right
across the country. We don’t brag about it,
we don’t look for public accolades, and to
paraphrase a tag line I’m sure you will
recognize, we just do it!
So how on earth does this relate to
challenge? I guess maybe the challenge is
to continue to do all of the things that we
have done right for all these years. It is
easy to bemoan our fate and point at the
negative stories about another broker
selling to a direct writer but there are other
stories out there too of broker principals
selling to employees and making every
effort to facilitate their success. o f other
brokers working to encourage young
people to get involved in this industry
and the opportunities it presents. I have
attended three events in the past month: the
IBANS golf tournament presented by the
Young Brokers Network, the University
Career Fair where the YBN had a booth
and most recently our Industry Night
which attracted over two hundred brokers
many of them belonging to the under forty
crowd.
So my friends I believe the biggest
challenge facing brokers is to encourage,
maintain and promote the insurance
industry to these young people who come
to us with fresh perspective and new ideas
and then the rest of the challenges won’t
seem quite so daunting. �
Carolyn may be reached at (902) 477-2511
or via email at, carolyn@sncinsurance.ca.
IBANS & YBN Career Booth
o n September 28, 2010 the Insurance
Brokers Association of Nova Scotia and the
Young Broker Network teamed up to
participate in a recruitment initiative to bring
awareness to university students about the
insurance broker profession.
The Career Fair was held in Halifax, at the
Cunard Centre. Participating students came
from Dalhousie, Saint Mary’s, Mount Saint
Vincent, and Acadia universities.
IBANS Professional Development Coordinator,
Keri Foley was on site for the Career Fair,
along with YBN members Sean Murray, and
Sarah MacKinnon. The IBANS/YBN booth
saw between 50-75 students drop by to learn
about the role that insurance brokers’ play in
the community, and also to gain knowledge
around the educational requirements to
become and insurance broker.
Atlantic Insurance Brokers ~4~ Winter 2010