THE INSURANCE Brokers Association of Canada is set to launch a new logo for its broker identity program in September.
It was approved at a board meeting in May following consultations with sister associations and its advertising agency.
IBAC ceo Peter Braid said the new logo is not a major departure from the current one but rather a refinement of the well-known magenta design.
“Our iconic ‘Bipper’ logo has brand value and we wanted to build on that with a refresh and renewal,” he said. “It’s an evolution and not a recreation. It’s bolder, stronger and more contemporary.”
The decision to update the logo was spurred by the current logo’s 30th anniversary this year.
“The rationale and background of the new logo is that many organizations update brands from time to time to reinvigorate and boost recognition and inspire consumers and we thought the time was right,” Mr. Braid said.
“The current logo has brand value so we want to build on that equity.”
He said the logo will be kept under wraps until it is officially unveiled this fall alongside a new advertising campaign. The recognizable magenta colour will remain.
“We will not be departing from many of the qualities of the current logo that have such significant value,” Mr. Braid said.
“It’s a trust symbol in the marketplace and consumers recognize the symbol and associate it with trust and we will be refining the logo itself to be more modern and contemporary.”
He said the current brand identity program has solid recognition but there is always room for improvement.
The September introduction will be a ‘soft launch,’ as the existing logo is meant to co-exist during the transition, Mr. Braid said.
“In September we will also launch the digital component of a new ad campaign,” he said. “The new logo will be introduced and unveiled and rolled out over the following number of months.”
The broker identity program and logo were launched in 1988 to convey the importance and strength of the broker channel to the federal government and consumers and bring unity to the broker associations across the country.
(For more independent coverage Canadian p&c industry news, please choose the ‘Subscribe’ tab on our main page or email firstname.lastname@example.org for more info).