Arthur J. Gallagher & Co. acquires Winnipeg's Belton Boisselle Ltd.

24 July 2018 Consulting.ca

US-based Arthur J. Gallagher – a leading insurance broking, risk management, and HR consulting firm – has acquired Winnipeg, MB-based Belton Boisselle, a consultancy offering employee benefits and group retirement services.

Winnipeg-based Belton Boisselle has over 35 years of experience supporting clients with their employee benefits and group retirement plans. The independent firm also offers investment strategy services, as well as corporate individual risk management through the broking of life, disability, and critical illness insurance. The consultancy has worked with some of Canada’s top employers to maximize the value of their group employee benefit and retirement plans. The firm strives to adapt its services to the needs of the client’s corporate culture, while viewing themselves as an extension of the client’s HR and finance teams.

The customer-centric firm was acquired last week by Arthur J. Gallagher (AJG), the world’s third largest insurance brokerage. The Chicago-based firm offers benefits and HR consulting services in addition to a comprehensive commercial insurance and risk management offering. The deal will expand AJG’s client base, presence, and capabilities in Western Canada, primarily in Manitoba and Saskatchewan.Arthur J. Gallagher & Co. acquires Winnipeg's Belton Boisselle Ltd.The acquiring firm already has more than 20 Canadian offices, with locations in Halifax, Ottawa, Toronto, London, Winnipeg, Edmonton, and Calgary. AJG posted revenues of $6.6 billion in 2017, and recently entered the Fortune 500 in 2016, ranking at 462. The firm has about 27,000 employees across offices in 34 countries worldwide.

Belton Boisselle heads Roger Belton and Kasey Boisselle will now report to Leslie Lemenager, head of AJG’s international employee benefits consulting and brokerage operations. The Belton Boisselle team will remain at their current Winnipeg location at 1620-155 Carlton Street.

"Belton Boisselle Ltd. provides high-quality service and innovative solutions to local, national and multinational clients,” commented J. Patrick Gallagher, Jr., AJG's Chairman, President and CEO. “Their combination of expertise and creativity has earned them an excellent reputation. I am very happy to welcome Roger, Kasey, and their associates to our growing Gallagher family of professionals."

The terms of the deal were not disclosed.

Last year, AJG was particularly active in the mergers & acquisitions scene in Canada, making 13 transactions, including the purchase of GPL Assurance, its first foray into Quebec. The recent acquisition of Belton Boisselle is a follow-through on AJG Canada national president Stephen Bryant’s stated intent to look for M&A opportunities in Saskatchewan (a province the acquired firm services).

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More than half of Canadians would share personal data with banks for discounts

09 April 2019 Consulting.ca

Over half of Canadian consumers are willing to share important personal data (location data, lifestyle info) with banks and insurers to receive lower pricing on products and services, a recent Accenture report found.

As part of Accenture’s global Financial Services Consumer Study, the consultancy surveyed 2,000 Canadians on their views around sharing personal information with financial services firms. With the increasing popularity of Big Data and analytics – and the massive opportunity for competition-smashing insights therein – companies want to know how to get consumers on board with data harvesting.

A majority of Canadian respondents said they would give banks and insurers some (location data) or a lot (lifestyle habits) of personal data for lower prices (59%), faster loan approvals (53%), location-based personalized offers (53%), and personalized services that help reduce injury risk (53%).

Nonetheless, 72% of Canadian consumers said that they are very cautious about the privacy of their personal data, with security breaches the second-largest concern that would make consumers leave their bank or insurance provider (price increases were number one).Consumers willing to share personal data in select scenarios

Banks and insurers, however, rank fairly high on consumer trust indexes – certainly higher than Facebook or Google – institutions for which consumer data is a major source of income. Banks ultimately make their money from money, and consumer data will help them make more of it. They also have more trust capital to work with than other organizations, which might have to offer significantly higher loyalty card-type incentives to get their hands on consumer data.

"Canadian consumers are willing to sharing their personal data in instances where it makes their lives easier but remain cautious of exactly how their information is being used," Robert Vokes, managing director of financial services at Accenture in Canada, said.

Globally, 64% of consumers were interested in adjusted car insurance premiums tied to safe driving, and 52% were interested in life insurance premiums tied to a healthy lifestyle. Meanwhile, 79% of Canadian consumers would give either income, location, or lifestyle habit data to their insurer for personal services and information that help reduce the risk of injury or loss.

In banking, 46% of Canadians said they would want their bank to provide savings tips based on their spending habits. As such, the avenue is open to source more consumer data, but financial services firms have to offer clear, tangible, and useful benefits to consumer in return.

Looking across the globe, cultural attitudes toward privacy maintained their standard variation, with only 40% of privacy-conscious Germans willing to share more data with banks and insurers for personalized services, while 67% of respondents in China were willing to share more data in return for personalized services.