For skilled consultants like Baker Tilly TorontoIn this business landscape, staying current is crucial. And for insurance intermediaries, the important thing to success on this environment is working with experts like Baker Tilly Toronto, who offer specialized expertise and strategic advice.
An ever-changing business landscape
“There is a lot of consolidation taking place given the massive transfer of wealth from one generation to the next,” he explains Steven FryePartner, Audit, Valuations and Corporate Finance at Baker Tilly Toronto, a number one independent audit, tax and advisory firm. “And private equity groups have driven the value of insurance brokers to levels I wouldn’t have even thought possible 20 years ago.”
While the rise in broker valuations is an excellent thing for owner-managed businesses, it also introduces latest complexities, corresponding to: B. increased competition, complications in succession planning and the necessity for strategic planning to maximise value during transitions.
Technological advances and the increasing use of artificial intelligence (AI) are causing further disruption to the market. “AI is changing the way the insurance industry works,” says Frye. “It was all just a concept 25 years ago.”
These disruptive aspects threaten the steadiness and growth path of insurance providers. Fortunately, Baker Tilly Toronto focuses on the insurance industry, providing personalized, specialist support through its team’s deep knowledge of finance, regulation, compliance, technology, operations, benchmarking and accounting related to the market.
“We are keeping abreast of the issues. The key to being a trusted advisor is truly understanding where the customer is.”
Steven Frye
Introducing Baker Tilly
Frye is a founding member of Baker Tilly Toronto, a part of the Baker Tilly cooperative. He has greater than 25 years of experience evaluating insurance brokers and advising firms within the financial services, manufacturing and technology industries. Frye’s experience in a broad range of specialty services (acquisitions and dispositions, corporate finance, litigation support, regulatory affairs and operational advisory) demonstrates Baker Tilly Toronto’s unique ability to successfully meet the needs of its clients.
The company’s well-trained teams work across multiple disciplines to align their skills with clients’ needs to realize exceptional results. In addition to providing underwriting, valuation and company finance services to the insurance industry, Baker Tilly Toronto also assists clients with planning, operations and profitability.
“We stay abreast of the issues,” Frye said. “The key to being a trusted advisor is truly understanding where the customer is.” Baker Tilly Toronto provides strategic expertise to maintain insurance providers competitive in a turbulent marketplace. From succession planning to corporate financing, the corporate works with insurance providers to make sure their businesses are well positioned for the longer term.
