Hub International Launches Industry Specialty Practices
CHICAGO, February 12, 2018
Hub International Limited (Hub), a leading global insurance brokerage, announced today the launch of its first eight industry Specialty practices as an important part of its enterprise strategy to differentiate itself, while providing advocacy and tailored insurance solutions to its clients.
“Business owners expect brokers to be specialists to best address the unique industry risks and issues they live with every day. And when a broker specializes, they are delivering a value set that helps clients grow their business with the peace of mind that their risks and exposures, today and tomorrow, have been identified and addressed,” said Marc Cohen, CEO and President of HUB International. “At HUB we see a direct correlation between specialization and improved client retention and new growth. Both of which are key elements of organic revenue.”
HUB selected the first eight industries based on those that are positioned for growth, and where HUB already has deep expertise, offers a strong industry value proposition and has a substantial portfolio of clients. HUB’s first Specialty practices include Transportation, Financial Institutions, Entertainment/Sports, Construction, Agriculture, Hospitality, Real Estate and Healthcare.
“HUB mobilized hundreds of our specialists across North America in our more than 400 offices to ensure our industry strategy would succeed in our decentralized environment to continue serving our local market customers and prospects,” said Chris Treanor, President of Specialties and Programs for HUB International. “Specialties is a thoughtful and significant effort in our ongoing growth strategy and will impact our success as one of the largest brokers in the world.”
HUB Specialties are based on a model that will allow the firm to scale and establish future industry Specialties based on regional needs and client demands.
“Complexities in the insurance industry continue to surge. To really understand the current and emerging risks associated with an industry, insurance and risk advisors require specialized industry knowledge,” said Todd Macumber, President of Specialty Practices and President and CEO of HUB’s Risk Services Division. “Each Specialty practice will offer clients HUB proprietary insurance products as well as provide our employees with training, development and credentialing to better serve our clients and allow us to recruit and retain the industry’s leading talent.”
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited (HUB) is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. From offices located throughout North America, HUB’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and occupational accident insurance solutions.