On January 6, 2016 LOGiQ3 turns 10. The BIG 10! The world has changed quite drastically since the start of our company. To put things into perspective, let’s rewind back to 2006. It was reported in 2006, Worldwide Internet Usage was 16%. Fast forward to 2016, this number has reportedly increased to approximately 46% (that is 3,366,261,156 people!). In that very same year, Google bought YouTube for $1.65B, the term Web 2.0 was being overly used and widgets became a very hot topic.
If we take a brief moment and look through the lens of life reinsurance, in 2006, 21 US companies assumed ordinary life reinsurance, while at the end of 2014, only 11 US companies reported figures and the top 5 companies dominated 90% of market share.
With the speed of technology and rapid change within the reinsurance industry landscape, our business has had to adapt and respond to new challenges and opportunities. However, regardless of change or speed, we built our success on ten fundamentals that are timeless and everlasting.
Today, as we celebrate, we’d like to share them with you:
Long before we understood what social media could do for us as a business (by the way, in 2015, for the first time ever, we made MORE new connections via social media than through 'traditional' means of email outreach), we recognized the Power of Connection. Be it in hosting intimate Think Tanks, or our amazing Advisory Board participating in various industry meetings, organizing a company supported TEDx event or simply sending a "Let's Connect" request via LinkedIn, we have built our business in believing that building a network of influencers and supporters is very powerful. Thank you to everyone who has connected with us in the last decade.
"Get the right people on the bus, the wrong people off the bus, and the right people in the right seats." Jim Collins' quote from Good To Great is a company favourite and had aligned with the company's values years ago (and still does today). Our promise has always been to offer the best job, to the best employees. Finding the "right" people is not an easy task but we are so fortunate to have found a set of amazing, dedicated team members that fit just right!
Culture is no fluff. It is the glue that gels our entire organization and requires lots of nurturing and attention. To get the 'right people' on the bus, you need a culture that will attract them. Our recent recognition as one of Canada's Most Admired Corporate Culture Companies has supported our belief that with the right people and the right culture, we would prosper as a profitable business.
Being an entrepreneur is not cut out for everyone. However, cultivating a company environment that welcomes an entrepreneurial mindset and out of the box thinking is one to which our company prides itself. That start up mindset is one that we continue to value and support each and every day we come into the office.
In year three, we needed a vision statement. We drafted countless complicated and cookie cutter vision statements and none resonated. Simplicity is sometimes the answer to a complicated exercise. Our vision statement is simple: Make Money. Have Fun. Change an Industry.
Our maxims, a set of "guiding principles" is a part of the foundation of our business. These are a common set of rules that our company collectively lives by when it boils down to interacting with employees, clients, and partners. They are embedded into each and every one of our actions.
This year, we are on track to surpass 50 employees. Being agile and nimble has always allowed us to react to speed of change and create innovative solutions. As we approach 100, 200, 500 employees, being nimble and innovative is a company philosophy we are committed to.
What happens when you rally a group of people together that have a common passion? Great things. We firmly believe smart people can be taught anything. However magic happens when you marry smart people, with passion, with engagement, and with the highly motivated. Looking back, without the passion of the amazing group of people that made LOGiQ3 over the last decade, we never would have made it to the elite 10%. This passion, creates our pride!
And now, we'd like to extend a BIG THANKS to each and every person that has provided support, guidance, advice, belief, and contribution to our business in the last ten years. We are truly grateful and honoured to serve the insurance and reinsurance community.
The last 10 years have been tremendous, the next 10 will be bigger and better. Continue to follow along our mission to change an industry."