Management Outlook 2022: Jamie Lyons, Westland Insurance Group

Jamie Lyons, President and CEO, Westland Insurance Group

Brokers have proven to be remarkably resilient in 2021 in the face of many unpredictable variables. We’ve learned that organic growth is there, but you have to work harder for it, whether it’s being relentless on the customer experience, navigating a constantly difficult market, or disrupting business models. We have learned that financial capital is plentiful, but human capital is increasingly scarce. We have learned that the frenetic pace of broker consolidation at the end of 2020 is not out of the box and is unlikely to slow down in the near term.

One of the biggest challenges for brokers in 2022 will be positioning themselves for the future. For most brokers, investments need to be made to modernize and build thoughtfully for the future. Some are more advanced than others in this direction. Upgrading people, technology and processes requires bigger bets, more vision, and higher levels of discipline than ever before. It can also erode the margin in the short term. But if the investments are made right, it should create long term strength and durability. Much like the ‘actuarial revolution’ a few decades ago on the carrier side, brokers in 2022 and beyond will be challenged to become increasingly agile, data-rich, and digitally-driven organizations – not so much in the sense of risk like carriers, but rather in the sense of customer relationship.

Westland has experienced accelerated growth and national expansion in recent years, which will continue into 2022. We will reach an exciting inflection point in our technological transformation. We will continue to establish and promote our leading market share in the small and medium-sized enterprise (SME) business sector. We will strengthen our presence in communities across Canada, with a focus on the Prairies, Ontario and further east. We will make significant investments in our key strategic pillars – customer experience, employee experience, communities, partnerships and mergers and acquisitions.

See all the 2022 outlook here.

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