Spearheading growth at Desjardins Insurance

Chantal Gagné’s longstanding career at Desjardins Insurance has seen her take on many different roles, but throughout her journey, one thing has never changed – her steadfast dedication to clients, members, and advisors. Starting as a summer student and actuary in 2007, Gagné quickly demonstrated a keen talent for management and innovation. Her expertise expanded over 13 years in the property and casualty (P&C) sector, where she rapidly rose through the ranks, eventually landing in the Desjardins life and health division. Gagné took on the role of senior vice president of the life and health insurance division in February 2023, and she says the constant support of her organization has been a huge influencing factor on her career.

“I’ve been very lucky to be able to count on a very strong team, and an employer that’s given me lots of opportunities!” Gagné tells Insurance Business.

“This is probably true for all industries and markets, but in life and health, clients expect things to be digital, simple, and instantaneous. As an industry, we need to use the right technology and evolve our experience to meet those expectations that are the standard now.” Gagné highlights that ESG is also becoming increasingly important to customers and is starting to significantly affect their choice of financial institutions. All of this has culminated in the changing role of insurers across the board – they’re moving away from simply being payers of claims and instead becoming real partners in the health and well-being of their clients. Ultimately, she says the industry has made some huge strides – but in other areas, it has steadfastly held onto tried and tested values. “One thing that I’m convinced will remain at the heart of life insurance is the advisory role, and the great support that the advisors provide to their clients,” she says. It’s just the method of doing this which will evolve very fast.”

Strengthening Desjardins Insurance’s presence in various distribution networks is a key focus for Gagné this year, and she’s already hit the ground running. Gagné will be a guest panellist with the Canadian Association of Independent Life Brokerage Agencies (CAILBA). As she steps into the spotlight at the upcoming panel, her focus is clear: to articulate her vision for the evolving world of life and health insurance. With a strong belief in the power of effective leadership, attendees can look forward to her insights on how innovative practices and deep industry knowledge can drive the sector forward, even in times of rapid change. “I’m really excited about this opportunity, as this is a market where we really want to be more present,” Gagné says. “It will be a great occasion to speak about who Desjardins Insurance is, our value, and what we can do for the advisors.” Ultimately, being a leader in life and health is no easy task – but with 17 years of experience under her belt, Gagné has already made her mark. She notes that the insurance industry provides a unique sense of motivation and satisfaction, and this knowledge is what drives her focus and strategy every day. “We’re providing support to clients in what’s often the most difficult situation of their life,” Gagné says. “We’re really there in the moments when people need help the most – not just at the point of claim but also at the point of sale in ensuring that they have the right solution.” Gagné highlights that being a leader in life and health insurance means having the ability to navigate an environment that is complex and constantly evolving, and constantly taking risk management into account. But most importantly, it means staying connected to those you serve – whether that’s your clients or the advisors. “I love all the opportunities I have to connect with them and ask what we can do to be a better partner and insurer for them,” Gagné concludes. “As a leader you always need to be interested in innovation, and, finally, you need to be strong in how you manage risks. We have to make sure that we can respect the financial obligation we have to clients in the long run – that’s the core of our business, and that’s the promise I make to clients.”

Spotlight

March 2023 marked a pivotal moment for Desjardins Insurance and the leadership of Chantal Gagné, with the acquisition of IDC Worldsource Insurance Network from Guardian Capital. The acquisition aims to bolster Desjardins Insurance’s position in independent distribution, and Gagné says it will also allow the organization to significantly enhance the experience of its existing advisor network. “IDC Worldsource has some very strong tools that we can capitalize on,” she explains. “We are strengthening our position in the MGA market, as historically we have mainly grown through our exclusive networks. Through this recent acquisition, we are further expanding our presence as a leading life and health insurer.” Innovation, growth, and client experience are at the forefront of Gagné’s strategy for Desjardins Insurance, and she notes that constant product development and technological enhancement are key to achieving this. The organization has made some significant investments into its tools, processes, functionality, and core products over the last several years – and with the market changing so rapidly, the journey is far from over. Gagné notes Desjardins Insurance’s 5 Pay Par option as a particularly interesting example, a unique proposition that allows the company to offer the only product in Canada with guaranteed premiums payable in five years. Desjardins Insurance has also continued to invest into core products such as critical illness, which has some of the most generous terms and most limited exclusions in the industry (as of April 2024). “It’s important for us to keep our leadership in these areas as we grow in different distribution networks,” Gagné notes. “We recently adjusted our dividend scale interest rate for participating life, which will increase to 6.3 percent on July 1 to ensure that we’re in the top tier of the market, and we frequently review our term products to make sure they’re competitive.” “When it comes to trends, one that really stands out is the evolution of customer expectations,” she adds.

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FAST FACT

Senior leader before the age of 40

FAVOURITE QUOTE

“Always put members and clients first”

Chantal Gagné

Senior vice president at Desjardins Insurance

Life and health insurance is a busy market – but with the help of esteemed leader Chantal Gagné, Desjardins Insurance is determined to stay competitive. Speaking to Insurance Business, she discusses her strategy and vision for leadership

Read on

“One thing that I’m convinced will remain at the heart of life insurance is the advisory role, and the great support that the advisors provide to their clients”

Chantal Gagné, Desjardins

“We have to make sure that we can respect the financial obligation we have to clients in the long run – that’s the core of our business, and that’s the promise I make to clients and advisors”

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Strengthening ties and expanding reach at Desjardins Insurance

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Published May 27, 2024

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Chantal Gagné, Desjardins

Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company. Desjardins®, Desjardins Insurance®, all trademarks containing the word Desjardins, as well as related logos are trademarks of the Fédération des caisses Desjardins du Québec, used under licence.

2023 Insurance Business Canada Life and Health Insurer of the Year winner

2022 Insurance Business Canada Life and Health Insurer of the Year winner

Accolades

2022

2023

Philanthropic Involvement

Industry committees

Accolades

Won Insurance Business Canada Life and Health Insurer of the Year

2022

Won Insurance Business Canada Life and Health Insurer of the Year

2023

Member of the Innovation and Development Committee of Centraide Chaudière Appalaches

2023

Member of the Board of Directors of the Dr. Clown Foundation

2023

Member of the firm for the 2023 Desjardins Mutual Aid campaign

2023

Member of the Management Board of the IDC Worldsource Insurance Network

2023

Member of the LIMRA Canadian Executive Roundtable

2023

Milestones

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7.7 million

members and clients SERVED

Over $422.9 billion

assets under management

75 years

PROVIDING LIFE AND HEALTH INSURANCE

Over 120 years

PROVIDING FINANCIAL SERVICES

We offer a wide range of life and health insurance and savings and investment solutions through our extensive distribution networks. More than five million Canadians are counting on our solid expertise and our people-focused approach at every stage of their life. Choosing Desjardins Insurance means choosing Desjardins Group, the largest cooperative financial group in North America.

Company Profile

Legal note: 1. Who we are... - DFS - Desjardins Life Insurance 2. Financial information as at December 31, 2023 | Quick Facts about our Cooperative | Desjardins 3. Our story - DFS - Desjardins Life Insurance