Companies (Aviva, Intact, Economical, Wawanesa, etc...) are insurers that provide products to protect people and businesses from Risk. Some of this is legislated and required coverage; example Auto Insurance. While others is not depending on region and type of risk
Brokers (Higgins Insurance) are independent and provide consumers "choice" and remain neutral in the buying decision for the potential client/insured.
Our Competitors would be made up of a few different types of business:
1. Other Brokers - operating similar to ourselves in various regions of Atlantic Canada
2. Mutuals or Agents - Fundy Mutual, Co-op or Statefarm to name a few. They generally only sell one product line, and also have financial services/life aspect to their business.
3. Directs - TD Insurance, RBC, Johnsons to name a few. These would be owned by company or Banks. Have significant resources and reach. Call centre structure is how they operate. Focus on bottom line, with little connection to the consumer.
Insurance (Home and Auto) is something that almost everyone has to buy, and generally dreads doing. However, when they need us and we can deliver on the promise of the policy then everyone wins. Brokers need to do more around communicating the "value" of working with an independent broker. How their pillars of Choice, Advice and Advocacy can help the consumer make informed decisions.
Group Clients - RCMP Members (NB, NS, PEI), CUPE Members, Federation of Labour, Nurses, Respiratory Therapists, Radiologists, Police, Firefighters, Ambulance/Paramedics
These individuals and groups feel they get value and top level service each and every time we have interaction with them. They know that we will be fair and honest in our exchange, and at the end of the day we have their best interest at Heart. We are looking for people/families that are seeking advice and help for their insurance needs, and because of our ties with these organizations and the loyalty we have developed price is not as critical a factor. However, Home/Auto insurance is becoming a commoditized product, and we regularly review clients files to ensure that they are getting the best coverage for the best price from the best company that will suit their individual needs.