Dear partners,
We are excited to announce a significant milestone for Optiom Inc. As of November 24th, 2023, Aviva Canada has entered into an agreement to purchase 100% of Optiom O2 Holdings Inc., which includes Optiom Inc. and Bamboo Premium Financing. The acquisition is subject to regulatory approval and is expected to close in Q1 2024. This exciting change marks the beginning of a new chapter, one that promises continued growth, innovation, and dedication to excellence.
Aviva Canada partnered with Optiom Inc. to provide underwriting capacity in 2023 and has broadened Optiom’s industry insight with their long-standing knowledge and experience in our niche segment. Aviva Canada brings a wealth of experience and a fresh perspective that aligns seamlessly with our core values and mission. This change is an opportunity to enhance our services, deepen our market presence, and expand our capabilities.
Our vision for Optiom Inc. remains steadfast. We are committed to delivering the highest quality service and maintaining the strong partner relationships we have built over the years. Aviva Canada is enthusiastic about driving forward with innovative ideas and strategies.
We understand that such transitions can bring questions and uncertainties. Please be assured that our day-to-day operations will continue as usual. The dedicated teams you have known and trusted remain in place, and we are all excited about the opportunities this change brings. We value transparency and open communication. Should you have any questions or need further information, please feel free to reach out to us.
Change is a driving force for progress, and we are confident that this transition will propel Optiom Inc. towards a future filled with greater achievements and success. We look forward to your continued support and partnership as we embark on this exciting journey together.
Warm regards,
Mark Dutton
Chief Executive Officer, Optiom Inc.
FAQ Questions:
- Will Optiom continue to operate as a standalone entity? Yes. The organization you know and trust will remain in place, and our day-to-day operations will continue as usual.
- Should our partners expect a change in product structure (ie. price, coverage, compensation, etc.) or product expansion as the result of new ownership? Optiom does not foresee any changes to its existing product structure as the result of the new ownership. Optiom is excited for the potential future expansion through product diversification.
- Will Optiom maintain Lloyd’s of London and Tokio Marine Canada alongside Aviva Canada as underwriting partners? It is Optiom’s intention to continue with underwriting capacity provided by more than one carrier for our existing products alongside the consideration of future products.
- Are any of Optiom’s external-facing systems or work processes going to change? Optiom plans to maintain its existing proprietary sales portal and continue all present workflow practices.
- Link to Aviva’s press release: http://aviva.ca/en/press-releases/2023/aviva-acquiring-canadian-vehicle-replacement-insurance-business-optiom
