Maryse Rivard

The brokerage sector is evolving. Regardless of the role you play within your firm, you are already at the front and centre of those changes.

By December 2019, the process of revamping the legislative and regulatory framework (Bill 141) should be winding up. However, the upheavals affecting our industry are not limited to regulatory matters. They also involve a range of other issues that brokerage firms might regard as either challenges or opportunities!

Against that backdrop, the RCCAQ is soliciting your help in determining the "Broker of Tomorrow" profile. Upcoming initiatives include a survey designed to shed light on where brokers stand on various issues.

"We are embedded in an environment in which new technologies are creating innovation opportunities in the insurance sector. These new developments are also creating their fair share of risks that could have an impact on the sector," said board member Maryse Rivard, who is spearheading the project with Éric Manseau, executive director of the RCCAQ. "Consumers have very high expectations when it comes to the client experience. Taking all those parameters into consideration, it is imperative that we imagine what the brokerage sector of tomorrow will look like," added Mr. Manseau.

Other factors are also creating upheaval within the profession:

• The labour shortage is putting additional pressure on brokerage firms.
• Competition with direct insurers is intense as demand dwindles.
• The merger/acquisition trend among brokerage firms is restructuring the entire industry.

In that context, what kind of role will brokers be playing five years from now? What obstacles will brokerage firms and brokers need to overcome if they wish to remain a credible option in consumers' eyes? We must ask ourselves such questions if the brokerage sector is to keep on growing. Reflecting on these matters will also help the RCCAQ to adapt its service offer to better meet your needs and the realities you face.

In the near future, we will be asking you to take part in a short survey. Your responses will give us valuable insight into what the brokerage sector will look like in the future.

If you have any questions, please feel free to get in touch!