The Pace

IIC Chair, Valérie Lavoie joined Desjardins in 1994 and held a number of strategic positions before being named President and Chief Operating Officer of Desjardins General Insurance Group in 2019. She was concurrently appointed to the Desjardins Group Management Committee as Executive Vice-President, Property and Casualty Insurance.

Before taking on her current role, Valérie held several positions in actuarial services and distribution. She's always been skilled at rallying her teams around one common objective: doing what's best for members and clients.

Recently, The Pace chatted with Valerie about the value of a career in insurance.

What would you say is the most attractive proposition about working in the insurance industry and what positive message do you have for the membership about the future of the industry?

Insurance is a dynamic field that's always evolving. Over the years, this industry has shown its resilience, stability and ability to innovate. I've always found that the insurance world offers a lot of opportunities for growth and development. That was the case when I started my career 30 years ago, and it's still the case today. To future members of the industry, I'd say that there are some exciting challenges and lots of opportunities to make a difference.

Why do you think a career in insurance is exciting/rewarding?

In insurance, we protect people from unfortunate and unexpected events that turn their lives upside down. A fire, water damage, a cybersecurity incident at a small business: setbacks like these can be difficult for our clients. It's really rewarding to help them get things back to normal as quickly as possible. It also feels great to be there for them during milestones in their lives, like buying a house or an RV. From listening to clients and anticipating their needs to finding the right products and services, focusing on solving problems is really engaging.

Lastly, there are so many career development opportunities. Whether you want to move up to management or try out a new role, there's something for everyone!

What would you say are some of the top/most interesting roles in insurance today and why?

Since I'm really passionate about client experience, I'd say that some of the most interesting roles are in client support. You might be developing or adapting insurance solutions for emerging needs, or working directly with clients for preventive and advisory support. Anything that adds value for clients! In underwriting, for example, the advisory role is really important. We analyze clients' needs so we can respond appropriately and adapt our products and services and then help them understand their coverage. There are interesting challenges on the claims side, too. Supporting clients after a loss takes compassion, active listening and an ability to be in solution mode with our suppliers. Lastly, there are some interesting roles that are really relevant right now looking at climate changes and other emerging risks and how they'll affect our industry, such as climate change and its impacts.

How has the world of work changed since the pandemic? What challenges and opportunities have occurred because of it?

Working from home has given us access to a larger pool of talent since location is no longer an obstacle to applying. Managers have had to be resilient and open to adapting their management style to remote and hybrid work arrangements. The pandemic also pushed us to speed up our digital shift and maximize automation to make things simpler for both our clients and our employees.

What specifically is your organization doing differently?

The pandemic confirmed that people want to be able to shop around and buy products and services online. We doubled our efforts to fast-track our omnichannel transformation and modernize our systems. Simplicity is key for our processes and doing what's best for our members and clients. Finally, we're working closely with our suppliers, who have also had to make major changes to how they do things because of the labour shortage and the economic context.

Does the industry’s “talent gap” present opportunities for insurance professionals?

Given the labour shortage, we need to show how our industry adds value and how our employees can make a difference in our clients' lives. We also need to provide opportunities for professional development so that it's motivating to work in this field. The Reframe project, a national advertising campaign by the Insurance Institute, will definitely help debunk some myths about our industry and attract new players.

Many people say they “fell into” insurance as opposed to planning to have a career in insurance. How can the industry attract more people -- whether new entrants or career changers -- to actually pursue a career in the insurance industry?

It's so true. I myself fell into insurance without really planning it! We need to promote the industry more. It's a field with a lot of career opportunities and great working conditions in a stable yet ever-changing industry. Summer jobs for students are a chance to get young people interested in insurance early. Everyone in the industry should be proud ambassadors for our field, which is far from boring! We have the privilege of protecting what matters most to people and being there for them when they need it. We should be proud of what we do!

• Explore empathy, communication skills, and tools for providing an excellent customer experience
• Examine how critical thinking skills and business acumen underpin day-to-day success
• Evaluate ethical business practices for insurance professionals
• Learn about using data effectively and integrating technological solutions into professional practice

• 10 online modules, each taking about an hour to complete
• Can be done in any order and on the student’s own schedule
• No formal exams or assignments – just a short test at the end of each module
• Access is automatic for active CIP students – no additional charge, and no need to register
• After a transition period, the modules will become a prerequisite for course C16: The Business of Insurance

• Critical Thinking
• Business Acumen
• Diversity, Equity, and Inclusion
• Interpersonal Communication
• Customer Service Excellence
• Advising
• Ethics and Professionalism
• Ethics in Motion
• Information and Data Management
• Digital and Technological Fluency

Property and casualty insurance has a multitude of career opportunities in a variety of settings. And in connecting with insurance professionals, you soon discover that there are almost as many routes through the industry as there are people who work in it.

Continuing our series on the many roles available in the industry we recently chatted with Kristine Occhipinti, a Senior Claims Specialist, Technical Lead at Chubb Insurance.

Getting Started

The insurance industry was never something I initially considered. I was studying business in college and took a part-time job at a new call center for an insurance company. To my surprise, I discovered a realm of endless opportunities, and this has become my career for more than a decade.

My primary focus has been in Auto and Property damage claims -- areas I naturally thrive in due to my personal background. I used to be deeply involved in the Auto Tuner scene, helping to build and race drift cars. This experience gave me a comprehensive understanding of vehicle mechanics, which has been a huge asset in my role as a Claims Adjuster.

Moreover, I have always been someone with strong interpersonal skills. This trait complements my technical knowledge by helping me effectively communicate and liaise with different parties involved in a claim. My unique combination of skills not only underlines my expertise but also fuels my passion for my work in the insurance industry.

My role

A Claims Adjuster is responsible for investigating an insurance claim by contacting the insured party and any other relevant parties to gather information. We review and assess the policy coverages applicable to the claim and work closely with vendors to assist clients through their indemnity process. As a technical lead, I also review files of junior adjusters and provide guidance on their development.

While the role can be challenging at times, it can also be incredibly rewarding. Knowing that you have helped someone in their time of need and made a positive impact on their life is a great feeling. Additionally, the ever-changing nature of the role means that no two days are the same, which can make for an interesting and engaging career.

My typical day balances both direct communication and administrative tasks. I allocate my time based on need, which often involves reaching out to clients who have recently experienced a loss, obtaining the necessary details from them, and validating information with other insurance companies. I also collaborate with vendors, sending them requests for inspections and following up for status updates on ongoing cases. Whenever necessary, I provide the authority for extensions or payments.

I was already in the insurance industry for a few years prior to investing in education to make myself an insurance professional. I completed a certificate for Project Management at the University of Toronto Continuing studies program, this provided me with a better understanding of the business side. Now within my role, if we are looking to improve a system, or change a workflow my understanding on Project Management allows me to efficiently address these projects while balancing my regular daily tasks. The CIP program provided me with great insight into departments I have not personally experienced working within. The course I feel provided the most impact in my development was Fraud Awareness & Business of Insurance. Moving into a leadership role it is important to understand all aspects of the business in some capacity.

Evolving into a role with more leadership responsibilities has been a key highlight in my career. This transition has allowed me to utilize my extensive technical knowledge effectively, aiding our team in navigating complex challenges with success. I was able to achieve this through hard work, personal and professional development that never stops. Looking at the future, I am enthusiastic about bolstering my leadership skills and venturing into related areas such as risk management and compliance. My confidence lies in my ability to make a much bigger impact in my career with the wealth of experience I have gathered and my commitment to constant learning. I am driven to contribute to my team's continued success.

Advice for young professionals

The growth of my family was challenging for my career. During my time away from work I had begun to feel disconnected from the industry and had lost touch with my professional network. It was difficult for me especially with the added responsibilities of being a new mom.

To overcome this challenge, I sought out opportunities to stay engaged in the industry. I actively participated in the completion of my CIP designation, also I reached out to my professional contacts and mentors for guidance and support. These efforts helped me stay focused on my career goals and motivated me to continue to grow professionally even if I was not actively working.

“Through our targeted promotional efforts, we will utilize an impressive array of advertising assets to convey your premium CIP brand value message to Canada’s English and French markets,” says Peter Hohman, MBA, FCIP, ICD.D and President & CEO of the IIC.” These include TV Ads and Digital Video placements utilizing various creative formats and approaches. We will continue to demonstrate to Canadians that the Chartered Insurance Professional is to be esteemed for their professionalism and deep knowledge of the property and casualty industry they represent.”

In English Canada, the extensive campaign involves ads on the CBC News Network, including :30s TV ads running in morning rotation and CBC :10s Closed Captioning Billboard Ads. Adding further multi-media dimensionality, the campaign features an extensive digital campaign leveraging Bell Media’s SAM Digital Video placements, CBC Digital Video ads, as well as connected interactive programmatic video.

In French Canada, the campaign leverages RDI with :15s Billboard ads in the morning rotation, and digital ad placements through SRC Digital Video and programmatic video efforts. 

In addition, the IIC’s newly refreshed website features fresh and current landing pages that convey that CIP’s are recognized as the industry’s benchmark of professionalism. It also communicates the message of contemporary and comprehensive industry knowledge, possessed by CIP’s, who are trained to the highest of ethical standards. Visit the easy to navigate site here:

English: www.preparedformore.ca

French: www.preparespourlavenir.ca

We invite you to experience the :30s ad spots in English and French here:

A CIP Is There :30s English Spot

A CIP Is There :30s French Spot

The Insurance Institute’s new website has successfully launched. Years of hard work have gone into overhauling our online presence, so we are extremely pleased to unveil the new look to the insurance community. When you visit the site you will find a sophisticated yet approachable visual design, a site that performs as well on mobile as it does on desktop and one that efficiently serves up the content you require to push your career forward.

Here are four website areas that can support you in your insurance journey.

Events

The website uses geotagging to match your location with the closest events. You can further use the manual filter to choose between in-person, virtual and hybrid activities, your preferred language and educational or social events. Whether you are looking for opportunities to earn continuing education credits or simply want to expand your social network, our local institutes offer a variety of opportunities.

Courses

You now have two routes to view our course selection. The Courses landing page offers quick access displaying all the courses currently open for registration. The options are searchable by program, learning mode, instructor and other useful criteria. Alternatively, you can access our courses via the program pages. They offer a comprehensive overview of the program covering everything from the program structure and fees to program policies.

My Account

Our new-look My Account pages allow you to track your progress easily. The Important dates feature highlights deadlines and other useful information you need to keep top-of-mind. The Grades area allows you to see your learning journey at-a-glance and My events and seminars makes it easy to manage your upcoming activities.

Licensing

Our revamped licensing pages spotlight the classes and learning products in each province. We’ve also streamlined and structured our licensing information so it’s easy to see the assistance we offer at each licensing level.

The work is not entirely done yet. Websites are never ‘finished’ and the best sites evolve intentionally, keeping up with technology changes, adding new features and upgrading to match user expectations. If you have not explored our new website yet, visit us today at www.insuranceinstitute.ca.

Proper preparation is key to performing well in exams and reducing stress. This guide provides a comprehensive overview of effective study tips to help students prepare thoroughly and perform at their best.

Planning and organization

• One of the first steps in effective exam preparation is creating a study schedule. Breaking down study sessions into manageable chunks and allocating specific times for each subject helps in organizing the study process. A well-structured schedule ensures that all subjects receive adequate attention.
• Setting clear, achievable goals for each study session provides direction and motivation. Goals could include completing a chapter, mastering a specific concept, or finishing a set of practice problems. This approach helps in maintaining focus and tracking progress.
• To avoid last-minute rushes and ensure a seamless study experience, gather all necessary study materials in advance. This includes textbooks, notes, online resources, and any other materials relevant to the subjects being studied.

Active learning techniques

• Creating concise notes and summaries is an effective way to reinforce learning. Utilize techniques such as mind maps or diagrams to visually represent complex information, making it easier to understand and remember.
• Flashcards are excellent tools for memorization. Create flashcards for key concepts, definitions, or formulas. Additionally, testing yourself with practice quizzes enhances recall and reinforces understanding.
• Engaging in study groups or explaining concepts to a friend or family member is a powerful way to solidify understanding. Teaching forces you to articulate ideas clearly, ensuring a deeper grasp of the material.

Effective study environment

• Selecting a study environment that is quiet, comfortable, and free from distractions is crucial. A dedicated study space helps signal to your brain that it's time to focus and enhances concentration.
• Identify and minimize potential distractions in your study environment. Turn off unnecessary notifications on your phone, close irrelevant tabs on your computer, and inform others around you about your study time.
• Good lighting and ventilation contribute significantly to a conducive study environment. Ensure that your study space is well-lit to prevent eye strain, and maintain proper ventilation for a comfortable atmosphere.

Healthy habits

• Adequate sleep is essential for cognitive function and memory consolidation. Ensure you get enough restful sleep during the exam preparation period to optimize your learning and retention capabilities.
• A well-balanced diet provides the necessary nutrients for brain function. Include a mix of fruits, vegetables, whole grains, and protein in your meals to support overall health and cognitive performance.
• Staying hydrated is often overlooked but is crucial for maintaining focus and concentration. Drink enough water throughout the day to support cognitive functions.
• Taking short breaks during study sessions helps prevent burnout. Incorporate breaks to stretch, walk, or do something enjoyable to refresh your mind.

Seek help when needed

• Make the most of available resources. Textbooks, online materials, and lecture notes are valuable references. Ensure you have access to these materials to clarify concepts and deepen your understanding.
• If you encounter challenging concepts, don't hesitate to seek clarification. Reach out to teachers, professors, or classmates for additional explanations. Collaborative learning can provide valuable insights.
• Study groups and tutoring sessions offer collaborative learning environments. Joining such groups provides an opportunity to discuss concepts, share perspectives, and gain a more comprehensive understanding of the material.

Stress management

• Stress management is crucial during exam preparation. Incorporate relaxation techniques such as deep breathing exercises or meditation to alleviate stress and promote mental well-being.
• Large study tasks can be overwhelming. Break them down into smaller, manageable chunks. This approach makes studying more achievable and reduces stress associated with tackling extensive topics.
• Large study tasks can be overwhelming. Break them down into smaller, manageable chunks. This approach makes studying more achievable and reduces stress associated with tackling extensive topics.
• Maintaining a positive mindset contributes significantly to effective exam preparation. Focus on your strengths, celebrate small victories, and remind yourself of your capabilities.

Review and self-assessment

• Consistent review of previously covered material reinforces learning. Schedule regular reviews to ensure retention and prevent forgetting important concepts.
• Periodically assess your understanding of key concepts. Testing yourself through self-assessment quizzes or reviewing flashcards helps identify areas that may require additional focus.
• Be flexible with your study strategies. If certain methods are not yielding the desired results, be open to adjusting your approach. Experiment with different techniques until you find what works best for you.

Effective exam preparation requires a combination of planning, active learning, a conducive study environment, healthy habits, and stress management. Consistency and dedication are paramount. Stick to your study schedule, maintain healthy habits, and approach exam preparation with a positive mindset.

Best of luck in your upcoming exams!

The month’s scenario:

The Ethics of… Pivoting to digital communications

In an effort to modernize, improve efficiencies and increase their corporate value, some insurance brokers are reexamining their business models. In so doing, some are opting to require their clients to communicate with them predominantly via digital means. Among other aspects of the business relationship this included online applications, service documents for updating the client file, communications, etc. As such, the expectation was that all clients would transact business with them going forward. But as they had come to discover, not all clients were on board with this notion and many of these clients were longstanding and loyal for several decades. Many of these policyholders were in remote areas with poor internet (if any at all), or they were not computer literate, or simply resented the fact that they did not have a say in this matter.

From an ethical perspective, is it appropriate for such an abrupt switch? What considerations and/or methods could be deployed to meet the needs of all involved?

Send your responses to this ethical dilemma to the Ethics mailbox at ethics@insuranceinstitute.ca

Scenario prepared by Paul Griffin https://www.linkedin.com/in/paul-griffin-8777019/?originalSubdomain=ca, PhD, MBA, CPA, CMA, CGA, CFP, FCSI

Think insurance is boring? Think again. Check out these fun facts.

• The phenomenon of insuring body parts began in 1920. Silent movie star Ben Turpin began the trend when he bought a $25,000 policy through Lloyd’s of London in case his signature crossed eyes ever uncrossed.
• The word insurance is derived from the French word ‘ensurer’ and originally meant an ‘engagement to marry’. Over time the word evolved to become ‘assurance’ and later ‘insurance’ with its modern meaning.

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It’s almost membership renewal time again

Your membership year runs from June 1 to May 31, and at the beginning of May, we’ll be sending out the 2024/2025 Membership Renewal Notices. Prompt renewal of your Institute membership enables you to continue towards your educational goals and be offered exciting professional development opportunities along the way. As well as this, we’ll keep you up to date with the latest industry knowledge and news.

If your employer participates in our MemberDirect Membership Renewal Program, you might not receive an invoice yourself, as your HR team will be handling it. If you do receive an invoice, or if you are a member who is billed individually for your renewal, please respond promptly—we appreciate it. Keeping your employer information and other contact information up to date on your profile will ensure you receive your renewal invoice in a timely manner. Continued active membership will ensure that service interruptions are avoided and that you will always have access to the latest industry knowledge and news.

Keep in touch

Have your contact details changed? Help us to keep you up to date.

The Insurance Institute is here to help you enhance your professional life and keep you abreast of all the latest industry knowledge and exciting new opportunities. We’re always developing new seminars, courses, and events for industry professionals. However, to ensure we’re able to keep you in “the industry loop,” we need to have your current contact details.

Have you changed jobs? Do we have your e-mail address?

The Institute is now making an effort to be more environmentally conscious by sending out more e-mail communications. So if you haven’t received anything from us in e-mail format, chances are we have either an incorrect e-mail address for you or no e-mail address at all.

It’s so easy to update your on-line profile now. Just log in as a new or existing on-line user, go to “My Profile,” and click “Update” beside your address—it’s quick and easy! And while you’re there, remember that, on our website, you can research, register, and pay for courses, seminars, and events, all from the comfort of your own home or office.

Goodbye, Winter, Hello—exams!

Students have the option to write their exams either through virtual proctoring or in person at one of the Institute’s examination centres.

Virtual proctoring works by a live virtual proctor observing you taking your exam through your webcam. The virtual proctor will also help you troubleshoot any technical issues if necessary.

In-person exams can be written at your local institute office or a select few additional third-party centres. Exam centres are selected at the time of exam booking. If you wish to write an in-person exam, book early, as capacity at these centres will be limited.

Once you are registered to write the exam, you can select a date and time from the dates below. Upon registration, a booking confirmation email will be sent to you. Your exam details can be found in the exam portal once you have scheduled your exam.

Examinations in either format will be offered April 2 through April 15. You should schedule your exam immediately after registration.

Three hours are allowed for each CIP subject and two hours for GIE subjects. Good luck!