named one of Insurance Business Canada’s “Young Guns”
2014
Service and solutions at RAISE Underwriting
Matt Baynton, chief executive officer at RAISE Underwriting, has some words of advice for young people starting out in insurance – to increase your skill set, take a few leaps into the unknown.
It might be uncomfortable at first, but volunteering for new experiences paid off for him in the end, even if first attempts were, well, first attempts.
“I always put up my hand and said, ‘Hey, I’m here for you – let me know how I can help. I might not know exactly how to do this thing – but I'll figure it out.’”
Along the way, those who take on new projects, initiatives, or product lines will gain unique experience, a rare and diverse skill set that will set you apart from competitors, and ongoing confidence to take on the tough tasks that others might not be up for.
“The more you can show yourself as an asset to an organization, the more opportunities and the better luck you’re going to create for yourself,” he says.
“It’s putting yourself out there within the organization and asking for more and then proving to the organization that you can handle it and deliver for them.”
It is an attitude that informs his vision and tenure so far at RAISE.
RAISE is an independent Managing General Agent (MGA) and leading supplier of risk insurance and surety products for construction, realty, and surety specialty lines. It has grown from less than 10 people when Baynton first joined just over two years ago to around 30 today.
While it is growing quickly, its focus is more on offering multiple solutions for the retail broker, excelling in its own niche and ensuring that the client experiences the true value that insurance offers.
“We’re going to hustle and treat each opportunity with importance. We’ll call the broker to better understand the risk and ask so we can underwrite and price it accordingly. And we’ll provide the best coverage options and pricing that we possibly can. More important, we’re focused on being a consultative advisor to our broker and insurer partners, having open communication, advising on risks, and collaborating and offering solutions aimed at making their lives easier by solving problems.”
RAISE will work with the broker to support their clients’ insurance risk management needs on a construction project and/or operational basis.
“This includes surety bonding, general and specialty insurance coverage for vacant land, course of construction, and operational phase.”
RAISE is one of the only MGAs in Canada with in-house surety and specialty insurance underwriting authority, because of their expertise and focus on the construction and realty space.
“[With] surety, it becomes much more bespoke. And it takes a certain level of expertise,” says Baynton.
The emphasis is on providing a top-notch service that focuses on the soft skills that are sometimes missing at other insurers.
“It’s kind of in our name, right? The idea is to raise the bar.”
Within this service-mindedness, there are certainly aspirations for growing the brand to become a larger player.
“We are looking to grow significantly over the short- to medium-term,” says Baynton.
But he is quick to emphasize that this growth should not come at the expense of the underlying “white-glove service” and continuing to supply products that are genuinely helpful in a problem-solving kind of way.
“We want to [grow] not for the sake of doing it, but with the goal of identifying and delivering products and services that our partners are looking for.”
And perhaps that is the crux of it – because without being continually close to clients and engaging in the soft skills that set RAISE apart, it becomes more difficult over time to remain informed about what those useful products and services might be. Intimacy with the market is an essential ingredient.
“It’s not easy to maintain culture and ensure that you’ve got the right people as you’re trying to scale a business, but I’m really proud of the team [and] their effort … in trying to make people’s lives easier and raising the bar.”
Spotlight
Baynton says that insurers and people in the industry in general tend to undervalue the service that insurance provides to society. At RAISE, Baynton aims to make that value self-evident.
“People will almost apologize when you ask them what they do, and they say they work in insurance. This isn’t doing the industry any service because the reality is that insurance is an extremely valuable resource,” he says.
“We’re protecting people’s livelihoods, their assets, and businesses. What we’re doing is really important.”
Baynton says that while it is RAISE’s role to provide insurance coverage, the underlying service is that of solving problems for clients. He understands better than many the variety of problems that clients may be facing, partly due to his early experience working at a small firm where his hands-on attitude led to roles helping to build the wider business.
He brings this experience into play at RAISE by helping the firm understand its wider, almost philosophical, function.
“One of the first things I set out to do when I joined was to create a robust strategy and sense of why we existed.”
Solving problems for clients on the insurance front generally means those businesses can get on with their main jobs – whatever that may be – instead of fretting about risk exposure.
“We’re here to make our customers’ lives easier by creating exceptional experiences for them through that piece,” says Baynton.
RAISE Underwriting is an independent Canadian Managing General Agent (MGA) and a leading supplier of risk insurance and surety products. We offer more than just a transaction to our partners. When you work with us, you will receive exceptional experiences and unparalleled service. Our mission starts with our core values: smartness, integrity, drive, and simplicity. For more, please see our website below.
Company Profile
2017
ESTABLISHED
50%
Proportion of women in leadership
100%
Canadian ownership
50+
Number of products
30
Number of employees
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
Years IN THE INDUSTRY
20
TENURE AT CURRENT POSITION
2 years
BASED IN
Toronto
Matt Baynton
Chief executive officer at RAISE Underwriting
The wider social role of insurance and a pro-active attitude toward tackling a challenge underpin a refreshing vision for success at this boutique MGA
Read on
“We’re focused on being a consultative advisor to our broker and insurer partners, having open communication, advising on risks, and collaborating and offering solutions aimed at making their lives easier by solving problems”
Matt Baynton, RAISE Underwriting
“The reality is that insurance is an extremely valuable resource. We’re protecting people’s livelihoods, their assets, and businesses. What we’re doing is really important”
Matt Baynton, RAISE Underwriting
Share
Milestones
2011
2012
2015
2016
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
Service and solutions at RAISE Underwriting
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
It is an attitude that informs his vision and tenure so far at RAISE.
RAISE is an independent Managing General Agent (MGA) and leading supplier of risk insurance and surety products for construction, realty, and surety specialty lines. It has grown from less than 10 people when Baynton first joined just over two years ago to around 30 today.
While it is growing quickly, its focus is more on offering multiple solutions for the retail broker, excelling in its own niche and ensuring that the client experiences the true value that insurance offers.
“We’re going to hustle and treat each opportunity with importance. We’ll call the broker to better understand the risk and ask so we can underwrite and price it accordingly. And we’ll provide the best coverage options and pricing that we possibly can. More important, we’re focused on being a consultative advisor to our broker and insurer partners, having open communication, advising on risks, and collaborating and offering solutions aimed at making their lives easier by solving problems.”
From those forums, a common theme arose that has plagued the industry for years: the amount of paper required in transactions.
“We have a motto to ‘axe the fax,’ and we saw this opportunity where members didn’t want their staff going into the office, but there are still physical cheques going back and forth,” Adams explains. “We put in place, in just six months, Ad-Hoc Money Movement [A$M]. We responded to the industry and are in the process of replacing cheques, which I think is awesome. We launched in January and have seen so much volume. We think ultimately we are keeping people healthier by not having to travel into the office.”
RAISE will work with the broker to support their clients’ insurance risk management needs on a construction project and/or operational basis.
“This includes surety bonding, general and specialty insurance coverage for vacant land, course of construction, and operational phase.”
RAISE is one of the only MGAs in Canada with in-house surety and specialty insurance underwriting authority, because of their expertise and focus on the construction and realty space.
“[With] surety, it becomes much more bespoke. And it takes a certain level of expertise,” says Baynton.
The emphasis is on providing a top-notch service that focuses on the soft skills that are sometimes missing at other insurers.
While she’s proud of the strides Fundserv made in 2020, Adams acknowledges that it was a challenging time as a leader. Not only did she have to ensure Fundserv kept running efficiently as her team transitioned to working from home, but she was also filled with concern for her team members.
“I just worried about our employees, their mental health and if they would be OK,” Adams says. “I like to see people, so I set up one-on-ones just to connect with them.
Moving forward, Adams says Fundserv’s goals remain aligned with those of its members, and her team will continue listening and understanding what members need so the organization can evolve accordingly. She adds that she wants Fundserv to be so good at providing a secure and reliable service that members forget it’s there – and she wants the company to continue to inspire change in the industry.
“It is sad that it took a pandemic to recog-nize the cheque issue and solve it,” Adams says. “What we will do in the future is root out those things in the industry and not wait for a pandemic to ignite change. There is no reason we can’t change. Change, like auto-mation, will accelerate from now, and we’ll do our part to keep it going.”
Spotlight
Baynton says that insurers and people in the industry in general tend to undervalue the service that insurance provides to society. At RAISE, Baynton aims to make that value self-evident.
“People will almost apologize when you ask them what they do, and they say they work in insurance. This isn’t doing the industry any service because the reality is that insurance is an extremely valuable resource,” he says.
“We’re protecting people’s livelihoods, their assets, and businesses. What we’re doing is really important.”
Baynton says that while it is RAISE’s role to provide insurance coverage, the underlying service is that of solving problems for clients. He understands better than many the variety of problems that clients may be facing, partly due to his early experience working at a small firm where his hands-on attitude led to roles helping to build the wider business.
He brings this experience into play at RAISE by helping the firm understand its wider, almost philosophical, function.
“One of the first things I set out to do when I joined was to create a robust strategy and sense of why we existed.”
Solving problems for clients on the insurance front generally means those businesses can get on with their main jobs – whatever that may be – instead of fretting about risk exposure.
“We’re here to make our customers’ lives easier by creating exceptional experiences for them through that piece,” says Baynton.
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
1983
ESTABLISHED
50+
NUMBER OF PRODUCTS
100%
PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES
50%
PROPORTION OF WOMEN IN LEADERSHIP
63,514,128
NUMBER OF ORDERS PROCESSED IN 2019
“We’re focused on being a consultative advisor to our broker and insurer partners, having open communication, advising on risks, and collaborating and offering solutions aimed at making their lives easier by solving problems”
MATT BAYNTON, RAISE UNDERWRITING
“The reality is that insurance is an extremely valuable resource. We’re protecting people’s livelihoods, their assets, and businesses. What we’re doing is really important”
MATT BAYNTON,
RAISE UNDERWRITING
YEARS IN THE INDUSTRY
20
Tenure at current position
2 years
BAsed In
Toronto
Karen Adams
President and CEO at Fundserv
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
Share
Share
Milestones
2011
2012
2015
2016
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
Service and solutions at RAISE Underwriting
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
It is an attitude that informs his vision and tenure so far at RAISE.
RAISE is an independent Managing General Agent (MGA) and leading supplier of risk insurance and surety products for construction, realty, and surety specialty lines. It has grown from less than 10 people when Baynton first joined just over two years ago to around 30 today.
While it is growing quickly, its focus is more on offering multiple solutions for the retail broker, excelling in its own niche and ensuring that the client experiences the true value that insurance offers.
“We’re going to hustle and treat each opportunity with importance. We’ll call the broker to better understand the risk and ask so we can underwrite and price it accordingly. And we’ll provide the best coverage options and pricing that we possibly can. More important, we’re focused on being a consultative advisor to our broker and insurer partners, having open communication, advising on risks, and collaborating and offering solutions aimed at making their lives easier by solving problems.”
From those forums, a common theme arose that has plagued the industry for years: the amount of paper required in transactions.
“We have a motto to ‘axe the fax,’ and we saw this opportunity where members didn’t want their staff going into the office, but there are still physical cheques going back and forth,” Adams explains. “We put in place, in just six months, Ad-Hoc Money Movement [A$M]. We responded to the industry and are in the process of replacing cheques, which I think is awesome. We launched in January and have seen so much volume. We think ultimately we are keeping people healthier by not having to travel into the office.”
Spotlight
Baynton says that insurers and people in the industry in general tend to undervalue the service that insurance provides to society. At RAISE, Baynton aims to make that value self-evident.
“People will almost apologize when you ask them what they do, and they say they work in insurance. This isn’t doing the industry any service because the reality is that insurance is an extremely valuable resource,” he says.
“We’re protecting people’s livelihoods, their assets, and businesses. What we’re doing is really important.”
Baynton says that while it is RAISE’s role to provide insurance coverage, the underlying service is that of solving problems for clients. He understands better than many the variety of problems that clients may be facing, partly due to his early experience working at a small firm where his hands-on attitude led to roles helping to build the wider business.
He brings this experience into play at RAISE by helping the firm understand its wider, almost philosophical, function.
“One of the first things I set out to do when I joined was to create a robust strategy and sense of why we existed.”
Solving problems for clients on the insurance front generally means those businesses can get on with their main jobs – whatever that may be – instead of fretting about risk exposure.
“We’re here to make our customers’ lives easier by creating exceptional experiences for them through that piece,” says Baynton.
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
YEARS IN THE INDUSTRY
20
Tenure at current position
2 years
BAsed In
Toronto
Karen Adams
President and CEO at Fundserv
Career highlight
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
“We’re focused on being a consultative advisor to our broker and insurer partners, having open communication, advising on risks, and collaborating and offering solutions aimed at making their lives easier by solving problems”
MATT BAYNTON,
RAISE UNDERWRITING
“The reality is that insurance is an extremely valuable resource. We’re protecting people’s livelihoods, their assets, and businesses. What we’re doing is really important”
MATT BAYNTON,
RAISE UNDERWRITING
IN Partnership with
In Partnership with
2014
2015
2019
2021
2022
named one of Insurance Business Canada’s “Young Guns”
2014
made it onto Insurance Business Canada’s Hot List 2015
2015
appointed SVP, Surety at Trisura Guarantee Insurance Co.
2019
appointed CEO, RAISE Underwriting
2021
- RAISE acquires United Surety
– RAISE nominated for MGA of the Year by Insurance Business Canada
2022
Milestones
Insurance is about solving problems
Providing ‘white-glove service’
Providing ‘white-glove service’
Published 17 Jul 2023
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Copyright © 2023 KM Business Information Canada Ltd
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
CA
RSS
Sitemap
Contact us
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Copyright © 2023 KM Business Information Canada Ltd
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
CA
Copyright © 2023 KM Business Information Canada Ltd
RSS
Sitemap
Contact us
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Providing ‘white-glove service’
