Corporate Feature MIB

iinta Insurance

Success & Succession: A Father & Son Story

Amidst the announcement of two astronomical heights; the climax of the worst Global financial crisis since 1938, and SpaceX successfully orbiting the first privately launched spacecraft, Rick Jaitley confidently embarked on his continued journey to excel in the insurance industry.


On August 18th 2008, after and illustrious career as an insurance agent, My Insurance Broker was born from a desire to “Simply do the Simple Things Better.” Today, MIB Canada manages over $200+M in premiums, employs over 300 and the dream that Rick began with is still very much alive and growing.


Established as a platform for other agents to deliver better products and services as advisors to their clients, MIB humbly bootstrapped its early years with few market options and a commitment to never leave the office until the responsibilities it promised to its clients were complete.


MIB was built on the business pillars and principals of Honesty, Loyalty, Trust, Care and Commitment. These values were regimented into the foundations of the company, but were also a mantra shared in the home.


One of Rick’s sons joined the business within the first year of its doors opening. Rishi Jaitley still recalls the days he would visit his father’s office as a child and shared “there was one thing that everyone that walked through the doors always reminded me; your father always makes me feel like the most special person in the world.” Whether offering tea, or a shoulder to lean on, Rick never treated his clients as customers, but rather friends. Many of whom are still connected to him in some form or fashion today.


Rishi who now leads the team as the President of My Insurance Broker brings vast knowledge on consumer behaviours and industry trends, along with his expertise in operational management and product distribution.


iinta sat down with Rishi to better understand what it takes to transform a family business into a budding enterprise and continues to drive MIB today.

L-R MIB President Rishi Jaitley, Mayor of Richmond Hill, Honorable David West, Rick Jaitley MIB Chairman of the Board

As President of MIB, what separates You/MIB from the rest of the industry?

Our fundamentals really make the difference. Understanding the most basic rules of engagement remains the heart and soul of our business and decision making. It's really back to that core statement where we started; How are we making things simple? How are we making ourselves better? and How often are we challenging ourselves to think about it?


You see, as technology advancement changes, how we do things as a business is important so that we continue to challenge ourselves beyond traditional disrupters. Their end goal is typically how do we make things more efficient, and more accessible. Not that these questions aren’t important; however, we go the extra mile to ensure that all parties within that value chain and sphere have their interests represented.


Brokers still need to participate as advisors; they play an extremely important role to protect consumer interest.Carriers who design, price, and distribute the product equally need us as partners to help innovate. And the consumer, the most important of them all, needs us to ensure they are protected along the way.


We can represent all interests by allowing technology to enable simplified means of communication and transaction, all while keeping the entire process human in nature. And that’s what makes us different.  

What touches your heart most in your ability to make a difference?

This is a key focus area for MIB. We are so humbled, blessed and fortunate that the universe has privileged us to manage and grow MIB. I heard a quote once from Bob Young the Owner and Chairman of the Hamilton Tiger-Cats Football Team (CFL) , “I am not only the custodian of the responsibility, but the caretaker of the decisions that get made by our organization,” and that really stuck with me.


As a leader within our organization, I have the important responsibility to take the time to care about every impact our decisions have on the relationships we serve. We have been afforded the privilege of our partners to act on their behalf as insurance agents, and trusted by our brokers to be the house to which they develop their careers to serve their families.


Our customers entrust us with the greatest responsibility and opportunity which is to protect the people and assets that mean the most to them. That’s what makes the difference. Being considered trustworthy enough to have all these individuals and the things that mean the most to them in our care!


There will be a time where things derail in people's lives, and we are afforded their confidence to help. It really is no different than a First Responder. Stepping into action when people need you the most. That is what makes me proud and committed to what I do.


Is there something outside of the office that helps fulfill your interests and ambitions?

Absolutely, as a proud new father of my own little boy, I am reminded constantly of not the lessons I was taught but the example I was shown from my own father to live by. These are the values and fundamentals I hope to demonstrate to my little one as he embraces all that life has to offer.


One activity which is near and dear to us at MIB is our Holiday Initiative. What started with a group of teammates getting together on a weekend morning to prepare meals for the homeless continues to this day.


This year we have partnered with Homes First to help distribute 500 Polar Packs to those without a roof over their head this winter season. Packed with winter essentials such as blankets, winter hats, gloves, scarves, sanitation kits and various other items, it is important to remind ourselves how fortunate we are and how the real impact of our effort is to selflessly return even a fraction of what we have been blessed to receive. As my father taught me, I hope to impart these same lessons to countless others including my own.


Happy Holidays and a Prosperous New Year to all!

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