Intact Prestige: that’s the name of the new Canadian division launched by Intact Financial Corporation in March 2020. The company announced its new brand name in its 2019 annual report, published on April 7.
At its “Investor Day,” held in November 2019, Intact announced that it planned to strengthen its position in Canada by consolidating its foothold in the high net worth market with the creation of a new national division.
Building on the success of Guarantee Gold
Intact built on the success of Guarantee Gold, the high net value unit of The Guarantee, which it acquired in August 2019, by creating Intact Prestige.
“Built on the success of Guarantee Gold, we launched Intact Prestige in March 2020 to reposition and elevate our high net worth, full-service solution. Under the new brand, we will expand this product line to compete with best-in-class providers and offer an effortless customer experience to this segment,” stated the company in its the annual report.
Conquering an underserved market
In its annual report, Intact explained that its “objective is to quadruple its high net worth penetration by 2025 and become a key player in this segment.” This objective was also announced at the firm’s November event, whose theme was “The next decade.”
When contacted by Insurance Portal, Intact was not yet prepared to say more about its new division, but during a conference call organized with financial analysts in November 2019, Charles Brindamour, CEO of Intact Financial Corporation, did discuss it. He described it as “a unit that will be entirely focused on [the high net worth segment] with a dedicated appraisal process, dedicated claim support” that, in the short term, will enable Intact to exploit an “underserved” “low single digit billion‐dollar market.”
Tracy Laughlin heads Intact Prestige
According to Intact’s website, Tracy Laughlin was appointed senior vice-president, Intact Prestige, in December 2019, following Intact’s acquisition of The Guarantee.
Again, according to this website, Laughlin is senior vice-president in charge of products and services related to valuable assets at Intact Insurance. As such, she is responsible for the overall growth and profitability of this national division.
Laughlin has been with Intact for more than thirty years. Prior to her current position, she was deputy senior vice-president, claims, Ontario and Atlantic, for almost three years while also leading Intact’s national fraud strategy. Before that, Laughlin was vice-president, personal lines, for almost eight years.
