​Top Brokerages 2014

​Top Brokerages 2014 | Insurance Business

‚ÄčTop Brokerages 2014
Top 10 BrokeragesInsurance Business ranks Canada’s brokerages to find the top performer in the country. Who came in at No. 1?

Welcome to the 2014 Insurance Business Top 10 Brokerages special report.

After seeking out, receiving and vetting nominations from more than 90 independent brokerages from across the country, our research has identified a company worthy of the title of Canada’s Top Brokerage.

It’s not just about the biggest gross written premium though. Our unique “handicap” methodology means we can measure brokers large and small on a level playing field to find the nation’s best performers.

Think your firm belongs among our distinguished list? Make sure your brokerage is nominated for next year’s second annual rankings, which is sure to garner many more entries than this year’s inaugural competition. We appreciate all the effort involved by brokerages that put themselves forward through this year’s process, and hope readers enjoy the insight provided by our top honourees.

The Methodology

The Insurance Business ranking system is an objective means of ranking the best performing insurance brokerages.

Each brokerage that was nominated was required to supply its own details to Insurance Business to be eligible. In total, there were seven criteria, covering:
  • Total revenue
  • Policies written
  • Revenue per broker
  • New revenue per broker
  • Revenue from new policies
  • New clients per broker
  • Company growth
Each brokerage was ranked in each of these measurements and the sum of all of their rankings were added together. The brokerages were then placed in order of who had the lowest overall score (think of it as a golf score, where having higher rankings in each section means you have a lower total score).

By ensuring that the majority of measurements rewarded business per broker rather than just critical mass, the very best brokerages were rewarded rather than just those producing a large amount of business.
 
Rank Brokerage
1 My Insurance Broker
2 Archway Insurance
3 Sharp Insurance
4 Darling Insurance
5 The Magnes Group, Inc.
6 Jones DesLauriers
7 Cowan Insurance Group
8 Butler Byers Insurance
9 Bryson & Associates Insurance Brokers Ltd.
10 Carr & Company Insurance Brokers Ltd.


This feature is from Insurance Business Canada's May issue #2.2. Please click on the link to read more.