The Silicon Review
Insurance is a technical concept, so we must study it carefully to understand the benefits it offers thoroughly. Moreover, insurance is a product that is not sold in stores. This is where insurance advisors come into the picture. An insurance advisor's role is not limited to advising the customers about the complexities in the insurance policies because they are also responsible for helping individuals select and buy a suitable plan. The insurance advisors are, in fact, the most popular and significant mode of distribution of insurance policies because they act as an intermediary to bridge the gap between policyholders and insurance companies.
There are various companies specializing in the insurance segment, but one that stands out from the rest is Surex. The company provides its services for auto, home, travel, and business insurance. Surex's insurance advisors help customers by comparing quotes from leading insurance providers. Every customer is assigned a licensed insurance advisor, and that'll be their person to compare quotes and get policies set up. Surex is Canada's fastest-growing insurance marketplace. Quote, compare & buy online, with access to instant proof of insurance. The company was founded in 2013, and it is based in Magrath, Alberta.
In conversation with Lance Miller, Co-Founder and CEO of Surex
Q. How does a casual day at Surex look like?
Since our inception in 2012, we are yet to experience a “casual” day. When building a business that breaks traditional norms, embracing change and pivoting seems to be a daily event. All our staff work in fast-paced environments focusing on building efficiencies and supporting one another regardless of their department. We are all working together to accomplish the goal of changing the way Canadians buy and manage their insurance.
Q. Lack of trust is the main reason that people don’t even think twice about purchasing insurance policies. What do you have to say about this?
I think the majority of people don’t have a high “trust score” in regards to our industry. What makes Surex different is we are not an actual insurance carrier. We provide the technology and advice needed to compare options in the marketplace properly. We match our clients up with a licensed personal advisor to make sure they understand coverage and give advice when warranted. We are independent and have no bias in which insurance carrier we place the business with. At Surex, our clients can be confident that we only work with carriers that have a proven track record.
Q. There are other reputed insurance companies in the market. What makes you a better service provider?
Most well-known insurance providers that spend the big bucks on branding and marketing are actually “direct” writers. This means these companies sell their own product directly to the consumers. They don’t offer comparison services to compare factors like deductibles, coverage limits, and course rates. Who buys airline tickets directly from airlines anymore? Most people run to Travelocity or Expedia. This is, in essence, what we are doing for personal home & auto insurance.
Q. ‘When people are having fun, they work together better and they produce better work.’ How do you interpret this saying?
We would refer to this at Surex by the phrase “ONE VOICE,” regardless of what position you hold at Surex. We foster a culture that promotes this concept of “one voice” we are all working together in accomplishing our goals together.
Q. A good workplace stresses teamwork while still encouraging individual achievement and creativity. Does your company follow the same strategy?
You can’t manage performance if you can’t measure it. We put a strong emphasis on what success looks like for each position. While individuals can focus on what they need to do daily to be successful as a company, we share the overall strategic initiatives. Even though every person may not have a direct effect on each priority, everyone needs to understand where we are heading as a company.
Q. Trust is a difficult attribute to measure and a delicate dynamic to maintain. How do you maintain this with your employees?
This starts with leadership and who holds those positions. Because our leaders, in most cases, have done the job in the past, our managers are not just talking the talk; they walk the walk! Credibility is established when your leader has a proven track record and understands what it’s like to do your job. We focus on servant leadership, making sure that we are listening more than we are talking and obtaining, when possible, buy-in from those asked to embrace change.
Q. What does the future hold for Surex and its employees? Are exciting things on the way?
We have just scratched the surface of where Surex is heading. Because of our market size and level of competition, we see continued success and growth. We are located in a small town, and because of our bootstrapped beginnings, we have maintained an “underdog” mentality. We understand that execution and doing what you say matters. We are committed to those who work at Surex and understand that the only way we can keep the momentum going is by taking care of our people.
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Meet the leaders behind the success of Surex
Lance Miller and Matthew Alston are the Co-founders of Surex, an online insurance brokerage. Starting out in the small town of Magrath, Alberta, Lance, and Matt sought to offer a new way for customers to obtain personal insurance and to provide an exceptional experience to customers along the way. The two worked together to turn an idea into a business. Surex is now one of Canada's fastest-growing online insurance brokers. Miller and Alston attribute their ability to overcome obstacles to their tenacity, bootstrap mentality, and problem-solving abilities.