Insurance Brokers Association of Ontario announces Colin Simpson as new CEO

The Insurance Brokers Association of Ontario (IBAO) has announced the appointment of Colin Simpson as CEO, effective Wednesday.

IBAO president Doug Heaman made the announcement on behalf of the association’s executive committee and recruitment committee.

Simpson brings more than 15 years’ experience and knowledge of technical industry issues in the insurance field, the IBAO said in a press release on Wednesday. His experience includes his role as president and CEO and director of a number of insurance and service companies in Canada and the United States.

“As a proud, long term supporter of the independent broker network, I am very honoured to be able to lead the association’s members as we develop in the evolving economy,” Simpson said in the release. “It is my privilege to serve our member brokers across Ontario and represent their interests for the betterment of the channel.”

Simpson specializes in corporate transformation, technology advancement and change management – “areas he will leverage to lead the IBAO,” the association said. With an honours degree in business law and economics, a master’s degree in accounting and finance and his chartered account designation, Simpsons’s academic background and industry experience position him well for this role, the IBAO said. Simpson’s key focus will be “collaboration and strengthening communication and alignment with all stakeholders to work effectively together.”

Heaman noted that the industry is experiencing rapid change, which brings “challenges as well as amazing opportunities. Our number one priority was to select a CEO who will provide the leadership, business acumen, vision and dedication needed to recognize these opportunities and position our association for future success. The IBAO executive and recruitment committee took this task very seriously, and our members’ needs governed our approach and decision.”

Heaman said that during the CEO assessment process, IBAO reached out to a number of stakeholders, including IBAO members, past IBAO presidents, executive members, as well as outside industry partners.

The IBAO is a not-for-profit association representing and serving the interests of over 12,000 independent property & casualty insurance brokers in Ontario.