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“Staying the course on our strategy and fulfilling our mission: making insurance accessible.”

A unique and unusual situation

Unlike other years, 2020 was marked by a unique and unusual situation related to the COVID-19 pandemic. Despite the many challenges, Humania Assurance and all of its employees demonstrated exceptional resilience.

From the outset of the pandemic, the Company adapted to the situation and demonstrated AGILITY by deploying employees to work from home. That enabled us to stay focused on our priorities — maintaining the same quality of service we offer our insureds and mutualists, as well as ensuring the health and wellness of our collaborators.

The times sparked many uncertainties and questions for our insureds. We showed our EMPATHY by providing high-level customer service across our product lines: individual, group and travel insurance. Regardless of the situation, Humania sees offering high-quality support and local services as paramount!

From the outset of the pandemic, the Company adapted to the situation and demonstrated AGILITY by deploying employees to work from home.
At the financial level, border closures put unusual and substantial pressure on our travel insurance results. Moreover, the historically low and unstable interest rates also negatively impacted our results. Despite this, Humania Assurance has maintained a solid solvency ratio. Since the beginning of the pandemic, we’ve continued to identify promising opportunities in order to stimulate our growth in the medium and long term.

And INNOVATION wasn’t on hold during this complicated year, either. Several new and innovative kinds of digital insurance coverage were launched to make insurance more accessible to Canadians.

Innovation as a key driver of progress

The most prestigious of all was winning the Employer of the Year award in the SME category of the 2020 Mercuriades, the prestigious competition’s 40th edition. We’re very proud of that.
At Humania Assurance, innovation drives our growth. We don’t just innovate from a technological perspective, but across all aspects of our operations — from our business model to social innovation, and from our organizational method to how we market and distribute our products. As a result, we continue to offer insurance products that revolutionize life insurance in Canada — an industry that remains too static and traditional.

Last December’s launch of Income Insurance — Accident marked an important step in our efforts to digitalize our individual insurance product line. With this simple and competitive product, Humania is making disability insurance that much more accessible on the Canadian market. Today, our approach allows any financial security advisor who’s interested to access new markets, substantially increase their productivity, and grow their professional practice.

Our mutual insurance company now has nearly 200 employees who work to achieve our mission. Humania is driven by a company culture founded on strong values of COLLABORATION, INNOVATION, AGILITY, EMPATHY and INTEGRITY that are rooted in our day-to-day. And because of it, we’ve been awarded several honours for our work environment, company culture and human resources management. The most prestigious of all was winning the Employer of the Year award in the SME category of the 2020 Mercuriades, the prestigious competition’s 40th edition. We’re very proud of that.

Acknowledgments

Thank you to all of Humania Assurance’s employees for their dedication and resilience in this time of crisis. Whether working onsite or remotely, their contributions are invaluable to maintaining our operations and delivering exceptional service to our business partners.

I would also like to thank the members of the Management Committee for their rigour, professionalism and the quality of the privileged relationships they maintain with all of our employees. The actions and decisions they take every day make the Company more efficient and innovative, even despite the current situation we know all too well.

My thoughts are with the families that have been directly and indirectly impacted by the pandemic. I would like to express my appreciation to all healthcare workers who, like us, deliver essential services, and especially frontline healthcare workers who risk their lives to care for those impacted by the pandemic.

Signed by Jacques Martineau Jacques Martineau Chair of the Board of Directors