An Educational Intermission
Like many, Derek Faulconer, President of Campbell, Roy & Eldridge Insurance Services Inc. (CRE), fell backwards into insurance. When he was 18 years old there was a strike at Centennial College and a placement agency put him into Claims / Clerical position at The Co-operators. In his time there, he also did a brief stint in Underwriting before being asked to lead the team on the call centre floor. Originally, Derek had planned to study law, but he quickly became transfixed by insurance and its abundance of ‘legalese’. From there he moved onto working in brokerages, started a consulting firm and, as the result of a consultancy project, took on ownership of CRE.
What is Your Superpower?
When asked what sets CRE apart as a Brokerage, Derek immediately identified two key elements – good people and mutual respect. He spoke at length about how important it is to seek out the right fit in staff, clients and partners, like Nova.
“I think it’s important overall, and more beneficial to the consumer, to know that we (CRE) have a great rapport with the company (Nova) and that the company actually cares.”
Derek would also pit CRE’s strong Commercial team against the best in the biz.
“Cats to satellites, they can do it all. It doesn’t matter what you throw at them, they can figure it out. That is their superpower.”
The Price vs. Value Paradigm
CRE’s focus on fit extends past finding the right people, to finding the right coverage and matching it to those people. In Derek’s own words, insurance is often viewed as a “grudge buy” which can make communicating its value a challenge. If a client only cares about getting the lowest premium, they may not be the right fit. Having said that, if a client wants the right protection, expert advice and, most importantly, a champion in their corner if things go awry, CRE is all in.
The Art of Underwriting
Recently Derek can be found extolling the virtues of ‘the art of Underwriting’ online.
“Everything is predictive modeling, algorithms and actuaries making the decisions…we have really moved away from risk Underwriting. I’m delighted to say, however, that Nova has not gone down that path. They look for ways to find a creative solution when one is needed, as opposed to just saying ‘No’.”
Aside from our mad Underwriting skills, what CRE appreciates most about working with Nova are the people, “they are an oasis in the dessert of manufactured insurance, a beacon of hope.”
And the feeling is mutual.