Proactive outreach: Unlocking personal lines in 2025

Navigating a hard market is never easy, and for Canadian insurance brokers specializing in personal lines, the current conditions present unique challenges. Rising premiums, limited coverage availability and stricter underwriting standards, for instance, are straining brokerages’ ability to retain clients and bolster revenue.

We explore these challenges in this recently published article, showing you how your brokerage can remain competitive going into 2025. But, remaining competitive is just the tip of the iceberg. Instead, you need to deploy the right tactics that allow you to outmaneuver the competition so you can achieve what matters most – client retention and sustained profitability. 

5 proactive approaches to keep in mind in 2025

Adopting a growth mindset goes beyond simply attracting new clients. While new client acquisition is always important, real growth comes from adopting proactive strategies that anticipate market shifts (and client needs), as well as position your brokerage as a trusted source for guidance, advice and reliable service. 

These strategies include:

1. Strengthen client relationships with transparent communication

Proactive, transparent communication ensures that clients feel informed and valued, particularly when facing premium increases and limited coverage options. When it comes to informed decision-making, clients rely on their broker to “crunch the numbers” and provide guidance that is grounded in a deep understanding of market data. 

By keeping clients educated and updated on potential industry shifts, you foster trust and loyalty that can withstand the challenges of a turbulent market. As Daniel Ignoto, Chief Insurance Officer at Billyard Insurance Group, explains in this article:

“Wallet sizes are smaller, and unfortunately, people are cutting costs, often starting with their insurance premiums. We’re having transparent conversations with our customers about why we’re taking certain actions as brokers. The benefit of a broker is that we can offer options and adapt to changing needs.”

This open dialogue, when backed by experience and a keen understanding of the market, can go a long way to solidifying your brokerage’s position as a reliable and proactive insurance partner. Doing this makes clients more likely to stay with you through difficult times.

2. Perform detailed renewal reviews using data-driven tools to better serve clients

As we enter 2025, the insurance industry is going to continue to see increased premium volatility due to changes in carrier rates that are beyond your brokerage’s control. As a result, price sensitivity will continue to be a concern for clients, as more and more folks shop around in the hopes of finding relief.

While on one hand this could feel like an inevitable cancellation scenario, proactive personal lines brokers will use it to strengthen their relationship with a client and provide a more personalized service. Successfully doing this, however, requires brokers to keep up with the demand generated from increased shopping behaviour. And to do that, brokerages will need to do one of three things:

1. Hire more people
2. Outsource (...typically to more people)
3. Rely on data-driven technologies

The latter not only deepens your understanding of unique client needs, but provides brokers with a truly personalized recommendation right at the time of renewal. This enriches the client-broker experience and allows you to present tailored options, address premium concerns, and highlight any coverage gaps for clients, ensuring they receive optimal solutions that work to strengthen your relationships and bolster retention.

3. Automate your policy requoting process to save time and boost productivity

Manually managing the policy requoting process is time-consuming and can strain resources, especially during a hard market when client demand for competitive pricing increases. 

Automating the requoting process allows your brokerage to: 

• Proactively provide clients with informed answers and coverage optionality
• Provide clients with informed answers quickly if/when they call in
• Avoid hours of manual work that could have been spent on higher-value tasks

By leveraging the power of a renewal intelligence platform like Quandri, you can enhance productivity and stay ahead of competitors who may struggle to keep up with client expectations during periods of increased client demand.

4. Educate clients on market changes early to manage their expectations effectively

When it comes to maintaining trust and preventing dissatisfaction during policy renewals and rate increases, client education is crucial.

Be sure to set realistic expectations and discuss market conditions well before a client’s renewal period by prioritizing client touch points. This demonstrates your commitment to honesty and transparency. 

Doing this minimizes any surprises for your clients and helps them to understand the reasons behind changes. It also better positions your brokerage as an informed and trustworthy advisor capable of navigating challenges on their behalf.

5. Tailor solutions to meet clients’ unique needs and secure better terms

In a hard market, a one-size-fits-all approach to policy placements won’t suffice. Successful brokers take the time to understand the specific needs of their clients and customize their offerings accordingly. This means collaborating closely with underwriters and presenting well-prepared risk assessments to secure the best possible terms for your clients.

What’s more, the best brokers also personalize client communication to best suit individual preferences. As Melanie Muise, President of Personal Lines & Travel at Navacord, explains here: 

“Some of them [clients] want to have a fully automated experience, some of them want to talk to somebody in person, some of them would prefer to chat with a call centre.”

Tailored solutions not only improve client satisfaction but also differentiate your brokerage, positioning it as an adaptive and client-centric choice in a competitive landscape.

Finally, implement integrated technologies to streamline operations and elevate your service

Looking ahead to 2025, Canadian insurance brokers must find new ways to leverage and deploy automated technologies to address client demand, while also efficiently streamlining operations and enhancing service. 

Staying proactive with data-driven renewal reviews and tailored solutions is just one way to set your brokerage apart as a trusted, adaptive and proactive partner. Automating the policy requoting process is another.

Ultimately, brokers who adopt tech-driven strategies and prioritize transparent, value-focused client interactions will be the ones best positioned to retain their client base and stay one step ahead of the competition through 2025’s hard market and beyond.