Since the end of 2022, the Akiri Consultants’ team has been working with insurance brokers as part of the ITN (Initiative de Transformation Numérique) program.

The industry

Brokers face major technological challenges, particularly due to a lack of connectivity between their IT tools, especially around their BMS (Broker Management System). By acting as a link between customers and insurers, brokers mobilize their expertise to offer an excellent service. However, the focus on the customer experience can sometimes lead to a lack of consistency and efficiency in business processes.

Additionally, the industry is highly regulated, with rigorous compliance requirements dictated by the AMF (Autorité des Marchés Financiers), particularly for customer master data. These requirements often generate a multitude of double entries and manual tasks. The need for tools in French is also a barrier to the availability of technology in Quebec.

The sector is, however, seeing significant innovation, with, for example, new marketing automation solutions, intelligent chatbots and real-time insurance quote comparison.

The technological evolution of Quebec’s insurance brokerage industry is crucial in an era of fierce competition and customers expecting instant service.

The ITN program

The OTN program (Offensive de transformation numérique) of the MEI (Ministère de l’Économie et de l’Innovation) has allocated $3.7 million to the Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ) to support brokerages in their digital transformation.

The RCCAQ is a non-profit organization whose mission is to promote and defend the socio-economic interests of its members, and to support them in their development. The mission of the RCCAQ Innovation ITN program is to:

• Develop digital solutions to drive the economic growth of brokerage firms across Quebec,
• Modernize the profession,
• Ensure the brokerages’ competitiveness,
• Improve the customer experience.

The ITN grant reimburses 80% of eligible expenses, depending on company size. Forty organizations have already benefited from the project.

Akiri’s support

The first stage of Akiri Consultants’ support is to diagnose the current situation.

Following a series of workshops on major processes such as new business, renewals, cancellations, and modifications in both personal and commercial lines, as well as support processes of accounting and human resources, we produce the mapping of critical processes and of the current architecture of IT systems.

After analyzing the issues, we identify opportunities for improvement to be prioritized, and establish a roadmap. Brokers are then in a position to proceed with a software selection and implementation support phases.

For example, we worked with brokers on these challenges:

• Which telephony and contact centre solution should I choose, and will it integrate with my BMS?
• How do I merge databases efficiently during acquisitions?
• How do I optimize the use of my current BMS?
• What solutions could be implemented to replace the intranet and e-mail communication between members and underwriters for banners? Would a ticketing system solve the problem?
• How can we standardize notetaking?
• How can we automate certain critical processes, such as renewal management?

What our customers say

“Our partnership with Akiri has enabled us to make wise and strategic decisions regarding our technology platforms. These decisions will have a long-term impact on our strategic positioning and the development of our service offering.”

“The personalized support is much appreciated. The report’s recommendations are comprehensive and reflect our company and our challenges. We saw enormous relevance in this analysis. We do business with a human touch and are thrilled that our partner shares this value.”

Contact us if you wish to find out more, or if you would like us to support you in your digital transformation projects.

Visit the RCCAQ Innovation website to learn more and complete the digital maturity self-assessment questionnaire: https://rccaqinnovation.ca/services/initiative-de-transformation-numerique