23 Feb, 2024
1 min read

What is a ‘must’ for a successful insurance brokerage?

What is a ‘must’ for a successful insurance brokerage? | Insurance Business Canada

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Working through a hard market can be tough but a satisfied client should be top of mind

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In the wake of a hard market, with stricter capacity and an emphasis on existing books of business, building a solid relationship with insureds is more vital than ever.

“As a family-owned, independent brokerage, customer service is something that is baked into each client call or business transaction,” said Filip Ambroziak (pictured), who joined his mother’s company, Ambroziak & Rao Insurance Brokers Inc., nine years ago .

“You can’t have a successful brokerage without authentic client relationships, which is something that I cherish when working with my insureds.”

Ambroziak spoke with Insurance Business about why smaller companies may inquire about acquisitions or joining a network to perform better, how his brokerage is maneuvering through a hard market and why reducing coverage in auto insurance policies may not be suitable in the long term.

“I am very into leveraging our business through search engine optimization methods, specifically targeting Mississauga through local keywords that are relevant to our customer base,” Ambroziak said.

Throughout 2023, he wants to bolster the company’s identity through these specific marketing tools but recognizes how costly and resource intensive these initiatives can be.

“Doing thorough and effective marketing for small businesses is tough,” Ambroziak said. “One click for an insurance broker or ‘insurance’ as a keyword costs around $20, which can get very unaffordable when prioritizing that kind of marketing. They may not have the budgets like the big players.”

As a result, Ambroziak predicts that more acquisitions may have to occur for smaller brokerages to be

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