Alpha Assurances, Auto et Habitation
Car and home insurance
Primary market: Quebec
Number of employees: 100
President: Genevieve Verrier
Alpha ensures a better future
The home and car insurance market has been getting increasingly competitive in recent years, with industry consolidation boosting efficiencies at key players. This makes life particularly hard for new entrants and smaller companies. However according to Genevieve Verrier, Drummondville-based Alpha Insurance, has been doing just fine.
Alpha Insurance is a family business, built on the ashes of a predecessor company that was founded in 1906 and which ran into financial troubles. In the early 1980s Verrier’s father Michel grabbed the chance to buy out its assets. Genevieve, who picked up a science degree and an MBA before joining Alpha Assurances, has been overseeing operations since 2008. “I love running a company,” says Verrier. “I guess you could say that I have an entrepreneurial mindset. If I was not doing this, I would have started something else on my own.”
Verrier attributes Alpha Insurance’s success to its ability to profit from its smaller size and more nimble footprint by getting and staying closer to its customers, whether through in-office meetings, phone contacts or improvements to its Internet site. “We know our regional markets better than our competitors do,” says Verrier. “That makes us better able to assess risk profiles and target products.”
“We are also in it for the long haul,” says Verrier. “Although we are always looking at new opportunities to buy a business book or whatever, we make sure that we remain well-capitalized. We prefer to focus on organic growth first, rather than on making larger, riskier moves.”
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