When accountants start selling insurance

I heard from a friend that a partner at a mid-sized accounting firm in Toronto said this:

“We’re setting up our own insurance arm. We’re done referring business out.

That’s when I realized.

The shift we’ve all talked about for years isn’t coming.

It’s here.

For decades, accountants were one of the biggest referral engines in our industry.

They had the clients, the trust, the files and they needed someone to execute the insurance work.

So they called us.

We’d show up with the illustrations, the planning concepts, and a smile.

They’d take the meeting, nod along, and send the client our way.

That referral economy was the backbone of this business.

But here’s the uncomfortable truth:

It was built on inefficiency.

Accountants didn’t want to deal with the licensing, compliance, and carrier paperwork.

They wanted to be independent and didn’t want to do the icky insurance stuff.

We didn’t want to deal with the accounting side.

It was an elegant truce.

They’d hold the client relationship, we’d hold the product expertise, and both sides made money.

Until now.

Today, accounting firms are starting to realize something:

They’re sitting on millions of dollars in untapped revenue.

They already know which clients have passive assets building up inside corporations.

They already know who’s got a looming estate tax problem.

They already have the corporate statements, the dividends, the retained earnings, and the year-end notes.

And what used to be “too complicated” for them to handle in-house…

Isn’t complicated anymore.

Because here’s what’s happening behind the scenes:

Accounting firms are quietly setting up internal insurance divisions.

They’re not hiring career insurance advisors.

They’re bringing in outside specialist, estate planners, business insurance pros, people who know how to structure the deals and letting those specialists handle the heavy lifting.

But here’s the kicker:

The accounting firm keeps 70%–80% of the revenue.

The outside advisor?

They get 20%–30%.

It’s a great deal for the accountants.

Not so great for the advisors.

And here’s why that matters:

If this model takes off and it will it changes everything.

Fifteen years ago, investment firms did the same thing.

They started licensing internal insurance specialists.

They realized they could cross-sell insurance to their existing book without referring out.

Today, that’s normal.

And we’re about to see it happen all over again, but this time with accountants and soon lawyers.

Because once they realize how much revenue they’ve been giving away, they won’t stop.

If you think this is just a few firms dabbling in insurance, you’re missing it.

This is the start of a new distribution model.

And the advisors who don’t evolve will be the ones getting squeezed out.

Now, before you panic there’s good news.

Because while accounting firms are getting sharper on structure and control, they’re not getting sharper on strategy.

They understand the numbers.

They understand compliance.

But they don’t understand people.

They don’t understand what it takes to move a business owner from “yeah, I should probably do something about that” to actually signing the paperwork.

They don’t understand how to handle emotional objections.

They don’t understand how to navigate shareholder dynamics or family politics.

They don’t understand the difference between a strategy that looks good in Excel and one that a client will actually buy into.

And that’s where the real advisors win.

Let me give you an example.

A few years ago, I was sitting in a boardroom with a client who owned a manufacturing company.

They had $4 million in retained earnings.

Their accountant was pushing the usual “invest it in a balanced portfolio” approach.

And, on paper, he wasn’t wrong.

But when we started talking about the next generation, things changed.

The business owner had three kids. Only one worked in the business.

The accountant hadn’t considered that.

So when we walked through how insurance could equalize the estate and how it could provide liquidity without forcing the other two kids to sell their shares the client leaned forward and said,

“That’s what I’ve been looking for.”

That’s the difference between technical advice and transformational advice.

And it’s why accountants, even if they start selling insurance, will still need advisors who can win the room.

So, what do you do about it?

You evolve.

You stop playing the role of “order-taker” and start playing the role of strategic partner.

That means three things:

Lead with insight, not product.

Stop being the person who runs quotes. Be the person who diagnoses problems before anyone else even sees them.

Build collaboration, not competition.

If accountants are setting up internal insurance divisions, be the advisor who helps them do it.

Be their expert.

Because while they might own the client data, you can still own the planning IQ.

Use speed as your advantage.

The world is moving too fast to wait on other people’s schedules.

If an accountant asks a question, answer it now not three days later.

That’s how you build trust and authority.

And that’s where tools like the one I’ve built come in.

And remember, the accountants aren’t the only way in. They are trying to cut you out which is why you need to be building other pathways to these clients. That’s community leaders, business brokers, fundraisers and anyone who comes in contact with them and has relationships.

A few months ago, I built something inside ChatGPT called The Underwriter.

I talked about this last week.

I uploaded the underwriting guides from almost every major insurance company in Canada life, critical illness, and disability.

That means when an advisor asks:

“Can a diabetic with A1C of 7.2 still qualify for life insurance?”

The Underwriter can answer in seconds.

It tells me whether the case is insurable, what the rating range might be, and which carriers are more favorable.

No waiting. No emails. No “I’ll get back to you.”

And it’s shockingly accurate.

It doesn’t replace underwriters, but it makes you infinitely faster at understanding where to go and what’s possible.

It’s like having a senior underwriter sitting beside you 24/7 without ever sending an email.

And here’s the thing:

When you can answer those questions instantly, you become the authority.

You’re no longer “checking with someone.”

You’re leading the room.

That’s what clients want.

That’s what accountants respect.

Now, imagine pairing that speed with strategy.

You walk into a meeting with an accountant or a lawyer, and they start talking about a case:

“We’ve got a client, age 63, two shareholders, one diabetic, one healthy, and we’re trying to figure out if insurance makes sense in the buy-sell.”

You don’t say, “Let me check with underwriting.”

You say:

“One of them will likely be standard.

The other will be rated, but there’s a carrier that takes the combined risk and offers standard for both. Let me show you how it works.”

That’s power.

That’s authority.

And that’s exactly what you need when accountants start bringing insurance in-house.

Now let me be clear about something:

AI is not replacing advisors.

It’s replacing inefficiency.

It’s replacing the waiting.

It’s replacing the “let me get back to you.”

It’s replacing the bottlenecks that made us slow, not the human connection that makes us valuable.

And that’s where the real opportunity is.

Because while everyone else is panicking about AI, you can be building the systems that make you faster, sharper, and more relevant.

That’s how you stay indispensable when accountants start hiring internally.

They’ll still need experts who know what to do when the file doesn’t fit the box.

They’ll still need people who can hold a client’s hand through complex emotional decisions.

They’ll still need you.

Here’s the bottom line:

The walls are closing in on traditional distribution.

If you rely on referrals from accountants, expect fewer.

If you rely on wholesalers for product answers, expect delays.

If you rely on being “the insurance person” in a world that’s automating the basics, expect to get squeezed.

But…

If you evolve into the advisor who leads with strategy, authority, and speed you win.

Because while accountants will own the data,

and carriers will own the tech, you can still own the relationship.

You can still be the person who sees what no one else sees.

You can still be the person who walks into the room and commands trust.

You can still be the one who gets the call when it really matters.

That’s what I’m helping advisors build right now.

At PPI, we’re not just talking about the future we’re building it.

We’re developing tools like Amplify, our version of Life Design Analysis, that lets you run comparisons instantly.

We’re working on systems to streamline underwriting, product recommendations, and advisor education so you can spend more time in front of clients, not chasing down forms.

We know there will be fewer wholesalers in the next decade.

We know AI will change how information moves.

And we know the advisors who succeed will be the ones who move fast, stay sharp, and own their authority.

That’s where we’re investing.

That’s why I’m here.

If you’re an advisor who wants to be on the front edge of this shift if you want to sell more insurance, move faster, and stay relevant in a changing industry then let’s talk.

Because this is the moment.

The accountants are coming.

AI is rising.

And the advisors who adapt now are the ones who will dominate the next decade.

Set up a short call with me.

I’ll show you what we’re building, how it works, and how it can fit into your practice.

Because the future isn’t coming.

It’s already here.

And it’s time you owned it.

Your friend,

Andrew