All About Waypoint’s Venture Division

The Venture Division is a specialized small business unit created to address the specific insurance needs of entrepreneurial small businesses from both a new business and a servicing standpoint.

Our team consists of ten team members with a wide range of experience, with some of our agents having worked in insurance for over 30 years. The team is divided into segments. We have five account executives whose primary responsibility is client contact; they are the ones looking at new businesses and handling the negotiation of renewals. Then we have account administrators who provide support for the back-end tasks, such as issuing certificates and putting together submissions and proposals.

How Does the Venture Team Help Our Clients?

We are well equipped in Venture to service account sizes up to $5,000 premium in any industry. We work extensively with independent contractors, small retail shops, and building owners.

Handling New Business as a Team

When a new client contacts Waypoint for a business quote, they are put in touch with our Venture Team first to determine if their account will fit within the business unit. If the account is larger or of a more complex nature, it will be transferred to an Account Executive outside the Venture Division.

We gather information from the client to put together a submission, taking the time to understand what the client is looking for as well as making recommendations as many new business owners may not be aware of the different types of coverage available. It is important to understand the client’s business and their concerns in order to properly shop the policy out to market and secure the right quote for them. We guide them through the process, providing options, putting together a proposal, and putting coverage in place from there.

CERTIFICATES

Certificates of insurance are fairly common among contractors. They are available if someone wants to provide proof of coverage for a person they’re working for, such as a general contractor or a homeowner. For example, if a homeowner asks a plumber if they have coverage, we can provide that proof. For people leasing spaces within buildings—such as a retail shop that does not own the building—we can provide the landlord with proof of insurance coverage.

RENEWALS

When renewal terms arrive, if there are changes to the market, premiums, or coverage on the policy, we contact the client to obtain updated information so that we can continue to offer a competitive product.

How Does the Venture Division Operate?

Our team communicates with the client via email, text, phone, Zoom, or Teams, depending on what will be most convenient. We function as an entirely remote unit. We’ve adopted a model that allows us to maximize the service experience for our clients on their schedule by utilizing electronic communications, saving them a trip to the office. We are, however, always happy to see a client in their local Waypoint office and will cater to their needs in-office as well.

Waypoint and Navacord

Waypoint is a proud member of the Navacord group, a renowned brokerage firm specializing in insurance and risk management and committed to offering professional solutions to companies all over Canada.

Members of Navacord are built to be entrepreneurs. Industry leaders Jones DesLauriers Insurance Management Inc. and Lloyd Sadd Insurance Brokers, a third-generation family business, teamed up in 2014 because they were driven to expand their companies and harness size without sacrificing their identities to larger companies. Combining a boutique experience with the support and stability of a national firm, the two well-known brands—with a track record of successful entrepreneurial growth and profitability—created Navacord to offer a distinctive ownership model and value proposition that benefits both clients and partners.

This entrepreneurial attitude challenges the aggressive M&A climate transforming the insurance sector. Acquisitions from big companies often have a negative effect on small brokers by robbing them of their uniqueness and regional culture. In addition to building on the solid, long-standing business relationships of its leading specialists and trusted advisers who are improving the areas they serve, Navacord protects the independence of its partners.

With more than 90 shareholders and growing, Navacord is one of the leading commercial insurance brokerages in Canada. It continues to aggressively pursue a forward-thinking strategy, further increasing its industry experience and supporting clients’ success.

Take the Leap with Waypoint

No matter your adventure, Waypoint and our Venture Division are here to support you in any way we can. Book an appointment with your Waypoint advisor today to start exploring new coverages that might be right for you.