Why scalable products help build your book – and customer loyalty

Successful businesses evolve. If they don’t, they flatline and eventually fail. 

Successful insurance products evolve too. Traditionally, this has meant that once every few years, insurers would revamp existing products, retire obsolete ones and perhaps launch one or two new offerings. In-between, we’d tweak limits and introduce new exclusions and the occasional endorsement. 

Then the world got faster. The rate at which we do business and business evolves got faster. At Intact, we realized these rapidly changing businesses needed products that evolved with them: Products built on the principle of change. 

We want to be there for your customers through all market cycles – and all economic transformation. We want to be able to deliver an insurance solution for every commercial customer a broker brings to us. 

This means the products we design for your customers need to be scalable and customizable, and simultaneously broad and industry-specific, as well as supplemented by specialty lines coverage for truly unique risks. And, they need to be constantly evolving, so that they meet your customer’s needs today and tomorrow. 

One size does not fit all 

Commercial insurance has come a long way. Today’s insurers understand that each industry segment comes with its own risks and offer specific packages for key industries such as manufacturing, hospitality and retail. 

The downside of this approach is that an insurer may end up with dozens upon dozens of industry-specific packages – and a broker is still guaranteed to have a customer whose needs don’t quite fit into any of those boxes. 

Enter products built on the principle of change, which start with core property and contents coverage and allow tailoring of each policy to address your customer’s unique risks and needs. 

That’s the customized approach we embrace at Intact with our flagship commercial insurance extensions package – EDGE Complete.

A flexible product can do it all 

Here’s the paradox of every business we insure: It’s completely unique and it shares many core needs that are the same across all industries.  Whether it’s a restaurant, a one-location retailer, a growing brewery and distillery operation or a tech start-up, each business insurance quote starts with a property and contents package.  

After that? We customize. 

With customizable limits and more than 50 endorsements, EDGE Complete addresses diverse risks and lets underwriters and brokers build a package that gives each customer the protection they need. 

At the heart of this tailored approach is the understanding that your customer’s business is – well, business! And what they need from their insurance provider is a product that takes the realities of their business into account and delivers coverage that lets them get back to business as quickly as possible. 

Scalable products build business 

For brokers eager to build their commercial book, scalable products are an effective business development tool. Why? In an evolving, fast-paced world, scalable products are easier to sell. They act as a checklist and conversation guide that help you get to know your customer’s business, identify potential risks and allow you to tailor the perfect coverage.  

Scalable products build relationships 

Perhaps just as importantly, they build relationships and customer loyalty. From the first conversation you have with a new customer about a product that evolves as the customer’s business evolves, you’re telling the customer you believe their business will grow.  

Today, as they’re building the foundation of their business and money is tight, your entrepreneur customers may just need the basics. But as they grow and have more risks – they can increase limits, add endorsements and fully customize their coverage, all within their existing insurance package.  

Adaptable to an evolving world 

The world isn’t going to slow down any time soon – and frankly, considering why it slowed down last time, we don’t want it to! The pace at which business grows and changes isn’t going to slow down either. Scalable insurance products respond to this pace of change and meet it with enthusiasm – and flexibility. 

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Learn more 

More information about EDGE Complete and Intact’s full commercial lines product suite is available on both intact.ca and, exclusively to Intact brokers, on the Intact Portal. 

Additionally, Intact brokers may take advantage of these Pathways courses, available on the Intact Portal: 

• Broad Form Property and EDGE Complete – It all starts here! Learn about base property coverage – and how it can grow for and with your customers (1-hour instructor led session) 

• Introduction to CGL – Commercial general liability is a must in the manufacturing sector! Build your understanding of CGL quickly (1-hour eLearning) 

• CGL Max & Liability EDGE – Take your commercial liability understanding to the next level (choose from 1-hour eLearning or instructor-led session) 

• Commercial Lines Submissions Essentials – Find out exactly what information underwriters need to get your customers an accurate quote at a competitive price (1-hour eLearning).