March 14, 2011
Not TREDDing lightly
New brokerage getting results and growing fast
Two owners, two employees and one client.
For industry vets and owners Ron Trecroce and Ian Eddy it was a start for their new company Tredd Insurance Brokers Ltd. But after only a year into doing business, their relentless devotion and aggressive attitude has skyrocketed the firm’s growth, tripling their staff and growing clientele every month. And it’s just the beginning. Based out of Toronto, Tredd is not only providing heavy industry with tailored insurance solutions, they’re changing the way brokers do business.
“As much as brokers say they work for their clients, we absolutely are a broker who has our clients’ best interests in mind,” says Ian Eddy, Chairman of Tredd Insurance Brokers Ltd. based out of Toronto. Tredd, and its affiliate TreddWest in Calgary, don’t work on commission paid by insurers. Knowing the value of their experience and service, almost 90 per cent of Tredd’s clients are on a fee-for-service program. For one flat fee, Tredd will go to bat for their clients.
“It’s a conflict of interest,” Eddy says about commission-based brokers.
How can a broker pound down a client’s premium, if that means fewer earnings for himself? Chances are he’s not. “If you are good at doing your job, the money will come,” is Eddy’s philosophy.
While Transparency Pricing is a unique practice in the broker industry, Trecroce and Eddy have been implementing this method for years as a way to be completely open with their clients.
The two came up together at Hargraft Schofield LP and eventually bought the company, transforming it from a generalist firm to a specialty niche based brokerage and grew the business to $110 million.
In 2008, the two were forced out of the company, giving them the opportunity to start all over again.
But Tredd’s philosophy isn’t just about getting a good price for sound piece of mind. It’s about managing risk, cutting losses and keeping both eyes on their clients’ bottom line.
Unlike the big brokerages, the boutique firm combines outstanding coverage, responsive service and tailored insurance solutions so their clients are always on the cutting edge.
In celebration of their one year anniversary, Tredd is launched their new website, www.tredd.ca, last week.