In a strategic move, Mitch Insurance has inaugurated its first branch in Kingston, Ontario, marking a significant expansion for the company. The announcement coincides with the appointment of Kris Giddy as the managing partner, entrusted with leading the operations in Kingston. Adam Mitchell, CEO of Mitch Insurance, acknowledged that Kingston wasn’t initially targeted as an official outpost but emphasized the importance of choosing the right commercial branch solution.
“I’d be fibbing if I said we went hunting for a Kingston solution,” Mitchell stated. “Instead, we went hunting for the right commercial branch solution. Kris picked Kingston, and we signed off.”
Mitchell outlined plans for future expansion, revealing a commitment to a more community-focused approach to business. The company aims to strengthen its presence in Canada with additional branch locations, emphasizing the significance of local relationships in dealing with complex commercial risk.
“This is a rounding out of our offering to say that there is some great strategy around local presence and relationships matter for complex commercial risk,” Mitchell explained. “We’ll continue to run our model on inbound personal lines, but we’re going to continue to deepen some community relationships with key commercial brokers that we feel have cut their stripes and earned them.”
Mitch Insurance’s branch openings are framed as a strategic move to expand professional expertise rather than mere attempts to capitalize on local markets.
“The city or location really is secondary,” Mitchell asserted. “However, we’re absolutely not going to do any more of these without first finding the people we think are qualified and have earned the opportunity.”
In an exclusive interview with Insurance Business, Mitchell, accompanied by Kris Giddy, discussed Giddy’s excitement about leading the Kingston office and shared insights into the market’s expectations for 2024.
Giddy, who began his career as a broker in Kingston, expressed his anticipation of shaping an office under his leadership. Having worked with experienced brokers and observed national brokerage operations, Giddy found the prospect of leading an office under his name challenging in today’s market constraints. The opportunity with Mitch Insurance, however, provided a viable avenue for Giddy to contribute to a new aspect of the insurance business.
“This is going to allow me to put my fingerprints on a whole other aspect of the insurance business,” Giddy commented. “Building a book of business I’m proud of and that our insurance partners value is our main focus.”
Giddy highlighted his excitement about implementing customer service standards and best practices while growing a team of talented individuals. He emphasized the unique combination of Mitch Insurance’s digital capabilities and the personalized elements of insurance broking.
With the launch of the Kingston office, both Mitchell and Giddy are optimistic about the opportunities and challenges that lie ahead in 2024. Giddy expressed positivity regarding increased capacity and risk appetite from insurer partners, providing clients with the opportunity to address coverage gaps and potentially receive rate relief. He specifically noted the resurgence of carrier interest in commercial realty and the growing importance of addressing cyber security exposures.
Mitchell, focusing on the strategy side, pointed out long-term threats to personal lines profitability, particularly in the auto sector. He highlighted the need to invest in and build books for insurance company partners, foreseeing a trend towards a broader distribution of commercial insurance in the 2024 market.
