TM
INSURANCE LIMITED
Disrupting the Canadian insurance sector
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Rewriting the rule book for Canada’s insurance brokers WRIT TEN BY
L AUR A MULL AN PRODUCED BY
GLEN WHITE
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Delivering one-to-one insurance services with cutting-edge technologies, PBL Insurance is reshaping the way Canadian insurance brokers do business
D
igitization is shaking up industries across the globe and it seems the insurance sector is no exception.
For PBL Insurance, which has provided risk and insurance services to Canadians for almost a century, there was no doubt that digitization would be a central pillar of 04
its strategic plan. The firm’s Director of Technology, Joey Faraone, says that by undertaking a root-and-branch digital transformation and overhauling its legacy systems, PBL Insurance is “re-writing the way insurance companies do business in Canada”. “I would say that technology is playing a very big role in driving PBL’s transformation,” he explains. “We went from having some very old technology pieces running our network to understanding that now is the time to invest and prepare the company for the next 20 years of the technology curve.” Previously, Faraone says that PBL Insurance didn’t have a focused internal
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technology direction and so the Canadian firm decided to bring its digital strategy in-house. “The company wanted to get a better grasp on today’s technology and look at where technology will take the insurance industry in the future,” he says. “I was brought in to lead the development and management of new technologies and ensure that they align with the company’s business strategy.” Becoming a digital broker is no easy feat, but this transformation was firmly at the top of PBL’s agenda. Starting from the ground
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up, the Ontario-based company set up brand new back-end infrastructure, including new fiber circuits, routers and E X E C U T I V E P R OF IL E
Joey Faraone is a dedicated, dynamic and enthusiastic certified IT professional who specializes in project managing innovative data solutions to improve system stability, functionality and efficiency. Faraone is quick to familiarize himself with the latest technologies and industry developments while demonstrating a logical and analytical approach to solving complex problems and issues. Faraone is the Director of Technology at PBL Insurance where he possesses excellent interpersonal and communication skills and the ability to develop and maintain positive internal and external relationships.
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switches. “We’re wiping the slate clean
software. In using a cloud-based,
and redesigning everything. We’re rolling
analytics-driven system, Faraone says
out new technologies to help us minimize
it’s reducing administrative burdens
the equipment footprint but not sacrifice
while simultaneously enhancing the
the service to our clients,” says Faraone.
visibility of its operations.
One of the company’s most cogent
“We are the first Canadian company
uses of technological innovation has
to move to the TechCanary platform,”
been how it has selected a new cutting-
notes Faraone. “You could say there’s
edge broker management system. By
a lot of eyes on us to see how the
adopting TechCanary, a solution based
solution is being rolled out in the
on Salesforce’s platform, PBL Insurance
Canadian market.” With such a wide
is breaking away from the confines
range of clientele and data, Faraone
of traditional insurance technology
believes that the platform will help
“ We have a one-on-one direct relationship with our clients. Our brokers, our account executives and our staff treat our clients and customers as one of their own” — Joey Faraone, Director of Technology
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the company meet its customers’ needs
data optimization and analytics while
and see what else it can do for them as
leveraging a breakthrough in routing
an organization. “It means that we don’t
efficiencies, enhancing performance
have a one-way path for our clients, we
and reliability with the flexibility and
can have a four-lane highway,” he notes.
affordability of a cloud service.
Shifting away from costly, hardware-
“With our new network being rolled
defined private networking solutions,
out, we’ve also put a lot of new con-
PBL Insurance has also implanted
tracts in place and we’ve implemented
a new software-defined wide-area
a new managed service provider (MSP),”
network (SD-WAN). This gives PBL
Faraone says. “This is helping us roll
the ability to leverage efficiencies and
out our network and enhance our user
create a more reliable network. It also
experience internally. The experience
gives the broker the option to use
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versus where they are today has been
know where all of our data is and that
a complete 180-degree turnaround.”
it’s accessible to us at a drop of a hat.
Cloud technology has been a major
“It’s promoting efficiency and produc-
trend in the insurance industry. Aside
tivity, but it will also change the customer
from its ability to lower costs and boost
experience,” he continues. “By using
productivity through mobile working,
cloud technologies like TechCanary,
it also offers a business continuity plan
our customer will be able to get faster
and security. Not one to stay in the
quotes and faster service while we tie
shadows, PBL Insurance is embrac-
everything together.”
ing cloud technology through its new
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With cutting-edge technologies being
broker management system and
rolled out every day, technology partner-
colocation site.
ships have become critical to any digital
“We are moving towards the cloud
transformation. Faraone believes that
more and more every day,” Faraone
the company’s alliance with technology
says. “There’s no downtime and there’s
innovators like MicroAge is helping to
no lag, so efficiency is huge with this roll out. It’s ensuring that slow technology isn’t being used as a scapegoat. Our new broker management system also uses cloud technology which means our Account Executives can log into our system from anywhere and do business right on the spot. “We also have a very good system where we back up everything on our network nightly and then we move it to a colocation site which has its own back-up there. Then we move it to the cloud,” he continues. “It may sound like there’s a back-up of a back-up, but it’s very important to make sure that we
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“ We are the first Canadian company to move to a TechCanary platform. You could say there’s a lot of eyes on us to see how TechCanary is being rolled out in the Canadian market” — Joey Faraone, Director of Technology
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drive new ways of thinking. “MicroAge is a global company which provides insights with network engineers,” Faraone explains. “We collaborate to work on developing and understanding the latest technologies to see how we can implement them here at PBL Insurance. We have continuous improvement sessions on how we can cut a little here, add a little there. This ensures that we run in a very lean but efficient way.” Behind any successful transformation is the right team and a culture that fosters innovation. With this in mind, 12
PBL Insurance strives to engage staff by asking for opinions on the direction they’d like to see the company go. “When we decided to change broker management systems there were a lot of discussions, not just at the top but among all users about who is going be impacted by it. It’s changing the complete way our staff do work on a day-to-day basis,” comments Faraone. “The system was received very well. I think the fact that we are evolving our technology and our way of doing business is helping to attract top talent to the company because they want to be part of this journey.”
CLICK TO WATCH : ‘TECHCANARY OVERVIEW’ 13 With over 200 employees and 10 offices spread throughout the province, PBL prides itself on being uniquely Ontario based. Driving efficiency and productivity with its new digital tools, Faraone says that this transformation is not just reducing costs and administrative burden, it’s also freeing up more time so that it can give its clients the personable and responsive service they expect. “We have a one-on-one direct relationship with our clients,” notes Faraone. “I think that’s where we differ from other brokers. With 10 strategic w w w.pbl i nsura n ce. com
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“ We’re wiping the slate clean and redesigning everything.We’re rolling out new technologies to enable us to minimize the equipment but not sacrifice the service to our clients” — Joey Faraone, Director of Technology
office locations throughout the province, we have the ability to service our clients locally, and we take pride in servicing communities big and small in Ontario. Our brokers, our Account Executives and our staff treat our clients and customers as if they are one of their own.” Technology and customer service go hand in hand at PBL Insurance, and as the industry shifts under the influence of the technological revolution it seems the company is ready for any dynamic changes that may come its way. “In five or 10 years, I expect PBL Insurance will be the top broker in Ontario, building partnerships yearly with other brokerages in the industry,” predicts Faraone. “I believe we will be a leader in innovation and that we will be an example to other brokerages on how they can leverage the latest technology to their advantage. It’s not always about spending the most money and getting the latest and greatest, it’s about understanding and fine-tuning technology to your company’s needs.”
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TM
INSURANCE LIMITED
150 Ouellette Pl Suite 100 Windsor, N8X 1L9 Canada T 1-800-661-5175 info@pblinsurance.com www.pblinsurance.com