New Intact division continues foray into CanadaBy Aurélia Morvan | July 06 2020 09:08AM
Intact Prestige is continuing its Canadian expansion. This division is the revamped version of Guarantee Gold, the high value solution of The Guarantee Company of North America, acquired by Intact Financial Corporation in August 2019. Intact Prestige deployed in Ontario, Alberta and British Columbia on July 1, 2020, one month after its launch in Québec.
Québec brokers “could begin selling new business for policies in force at June 1, 2020,” Marie-Hélène Lafond, director of public affairs at Intact Insurance, told the Insurance Portal. Renewals issued under the Intact Prestige brand would begin on August 1, 2020, she added.
After debuting in la Belle Province, Intact Prestige moved westward, from Ontario and Alberta to British Columbia. In these provinces, new sales took effect on July 1, 2020 and the conversion of existing policies will begin on September 1, Lafond explains.
“The Intact Prestige website is already available, so brokers and customers can familiarize
themselves with the products the brand offers,” she says.
Two wholesaler partners
In a digital communication dated May 29, received by Insurance Portal, wholesale broker APRIL Canada announced its partnership with Intact Prestige. “APRIL Canada was doing business with The Guarantee before it was acquired by Intact Financial Corporation. The agreement still stands,” Lafond confirms. She points out that Intact Prestige is also working with wholesaler GroupAssur.
“Historically, APRIL Canada has always done high net value. Intact prestige approached us to continue partnering with them. When brokers want a solution they can’t access on their own, they’ll come to us. We have a team of underwriters who knows this very well,” Sébastien Gabez, CEO of APRIL Canada, told the Insurance Portal in a telephone interview.
April Canada residential director Annie Bernier also participated in the conference call. She explains that “minor changes were noted in auto insurance but in home insurance the offer is still quite similar.”
Existing business between Intact Prestige and APRIL Canada is overseen by France Roy, who returned to her position as manager of the high value program in May. Roy was working at Marine Expert when it was acquired by APRIL Canada. She was managing The Guarantee’s files at the wholesaler until September 2012, when she moved to Intact.
“As she rejoins us, France Roy is bringing with her the two things we need: her expertise with The Guarantee, which she retained since she left us in 2012, and her knowledge of Intact,” says Bernier, to whom Roy reports.