Fastest-Growing Insurance Companies in
Australia | Fast Brokerages

Accelerating success stories

Succeeding in Australia’s competitive insurance industry is impressive enough, but eye-catching growth truly sets Insurance Business’ 16 Fast Brokerages and Fast Starters (in operation for less than three years) for 2024 apart. These firms have showcased confidence and determination by skillfully competing alongside more established and larger market players.

Over the past two years, IB’s winning brokerages have achieved an outstanding average growth rate of:

  • 82% in revenue

  • 80% in GWP

Tremayne West, managing director of Australian Broker Network, highlights the importance of a confident, customer-focused mindset and targeted strategies for brokerages on the rise.

He says, “The culture needs to be one of growth orientation, high value in customer service and sincere partnerships with key suppliers.”

Blue Gum Insurance

2022 to 2023
Revenue increase: 112%
GWP increase: 152%
Difference attracts clients

Established two years ago, the Fast Brokerage, headquartered in Camberwell, Victoria, has exceeded its initial targets attributed to several key factors, which co-owner and director Stephen Pearce labels their “point of difference” from larger brokerages:

  • providing personalised services


  • prioritising holistic solutions for every client’s needs


  • targeting certain sectors


Pearce says, “For us to be a good point of difference from some of the larger brokers, clients aren’t just a number. We try to learn as much about them as possible, so we can offer the best solutions, and they also feel free to talk to us about their insurance needs.”

This approach ensures that clients have no reason to look elsewhere, driving acquisition and retention.

“Our focus is to serve our clients better than anyone else. We are there for them when they need us to answer the phone and return emails ASAP. We organise face-to-face meetings to provide that personal service,” says Pearce. “In addition, we spend a lot of time highlighting our range of policies to cover off different risks for their businesses. We make sure that our clients know their exposures and what policies are available, so they can make informed decisions.” 

Stephen Pearce, Blue Gum Insurance
“Obtaining the client’s trust is essential so our service is key. Your clients want you to be there when they need you. We have succeeded by doing these two things”
Stephen PearceBlue Gum Insurance


Pearce and his partner, Blake Raymond, have focused their attention primarily on the construction industry and are advocates of cold calling.

“Construction would make up approximately 40% of our portfolio, which we have built from calls,” says Pearce. “Our success with cold calling is due to our persistence and ability to speak the same language as builders. We explain that we are a niche business that specialises in construction insurance, and more often than not, they at least allow us to provide a quote. Once they notice that we understand what they do, we start to gain their trust. We set aside some time one day a week and try to do it in bulk, and then the rest of the week, we work on the quotes. It’s a numbers’ game; the more we speak, the more we can convert.”

Furthermore, Raymond has moved to New South Wales to oversee the brokerage’s expansion.

“We’ve got a good number of clients there now across a range of different industries, and that’s based on client referrals and word of mouth,” says Pearce. “The move has been great for us, and diversifying the portfolio is really good as well. The more clients that we get out there, especially in some of the occupations that we’re targeting, the more referrals will come in. We’ve been in insurance for 14 years, so just because this is a new business, it doesn’t mean we don’t know what we’re talking about.”

Both founders appreciate they couldn’t keep growing and maintaining their high standards exponentially; hence, they’ve added an extra staff member.

Pearce says, “We made sure service wasn’t jeopardised by the increased workload, so we determined that we had to bring somebody on to assist with the workload. We really push the service principle of being there for our clients. Some of these brokerages might have been around for five or 10 years. We had to give clients a reason to switch, and it’s been successful. We started with zero clients, and witnessing the growth and the relationships develop has been quite humbling.”

Morgan Insurance Brokers

2022 to 2023
Revenue increase: 489%
GWP increase: 299%
Growing by personalising

Lauren Spice founded her brokerage in Brisbane back in 2018 and is operating solo. Her relentless dedication has powered the business to new heights.

The transformation has happened via a two-pronged approach. First, Spice has created a prolific online presence with engaging posts on LinkedIn and the firm’s website, which she identified as key to attracting and retaining clients.

“Our posts include insightful articles, tips and advice on commercial insurance topics that add value to our followers,” she says. “I’ve made sure that my name and face are everywhere they can be, reaching out to as many people online as I can. It’s been about learning how to enhance my digital presence; that’s been number one.”

And Spice describes how the other part of her strategy is grounded in determination.

“Number two would be every opportunity that comes through, which I take even if other brokers wouldn’t,” she says. “One of the key drivers behind my dedication is the satisfaction that comes from tackling hard-to-place policies. These are often cases that other brokerages might shy away from due to their complexity or perceived risk. A lot of brokers also might not see value in small home insurance policies, but if you think about it, a homeowner could have a business as well.”

Spice takes pride in being able to compete against the industry’s major players by offering personalisation, which ultimately wins business over the long term. She identifies several additional drivers behind Morgan Insurance Brokers’ growth:

  • demonstrating dedication by working extended hours


  • maximising the Steadfast Client Trading Platform (SCTP) for streamlined processes


  • seizing every opportunity to expand the client base 

Lauren Spice, Morgan Insurance Brokers
“You don’t turn any opportunity down because you don’t know what it will lead to”
Lauren SpiceMorgan Insurance Brokers

Maintaining regular contact is also part of the personalisation.

Spice says, “I update the clients at certain time intervals during the renewal process and the quoting process; it enhances communication and keeps doors open so they know that I’m still working on it, even if it’s only been a couple of days.”

Moreover, Spice recognises the significance of testimonials in building trust and describes them as “valuable”.

Some of those testimonials are:

  • “Lauren at Morgan Insurance Brokers was great to be able to chat with to obtain the information we required to insure our investment property. Fast, friendly, and efficient. I definitely recommend using Lauren to insure your biggest investment.”


  • “We have had a great experience, especially with Lauren, over the past four years. Always competitive prices, and with clear communication. I’d recommend her to everyone.”


Standing on her own has been challenging, but Spice now has a solid foundation to operate from.

“Operating as the sole broker was undoubtedly challenging given the long hours and the complexity of the tasks involved,” she says. “It was a hard period for about two years where it was nonstop; now it’s a lot more balanced, but I always ensure each client’s needs are evaluated on a case-by-case basis and that the solutions I offer are not only comprehensive but also perfectly aligned with their specific risk profiles.”

Eternity Insurance and Financial Services

2022 to 2023
Revenue increase: 7%
GWP increase: 40%
Consistent excellence

Founder Spencer Hon has expertly guided his team and brokerage to long-term success in both their Sydney and Melbourne offices, racking up 11 years of repeatedly standing out in the industry.

This forward-looking approach doesn’t depend on quantifiable metrics.

“To be honest, we don’t have any specific targets for our sales representatives; we just ask them to treat their job as a lifetime career, as then they think about what they can be for the customer,” says Hon. “Before, we had tried to apply KPIs or targets, but the results we found were that the representatives treated it as a job, not a career.”

Hon’s model has been particularly beneficial over the past few years of economic turmoil, especially in the following sectors:

  • real estate

  • residential builder/public liability

  • commercial property owner

  • industrial special risks


He says, “Before, when the economy was growing, everyone needed comprehensive coverage. But in the last two or three years, as we know, the economy has been downsizing, so there’s been no money outside of what they really need. That’s why we’ve discussed with the clients about their appetites and to find out what they really need.” 

Spencer Hon, Eternity Insurance and Financial Services
“Consistency is the main reason we’ve been successful”
Spencer HonEternity Insurance and Financial Services


Adopting this proactive mindset is further strengthened by the mentorship afforded to the firm’s authorised representatives (ARs).

“The main point is that we always discuss with them not to think about how much they want to earn from a client,” says Hon. “I want them to think about providing the best service to them, as the more the client feels you are trustworthy, the more other clients they will refer.”

To continue the brokerage’s success, Hon plans to introduce more technology into the business and enhance its internal procedures.

“We will work on our CRM system to minimise the paperwork time of the ARs and admins,” he says. “I believe this award is for the whole company and for the new ARs; it recognises the good job they did last year; it’s really encouraging for them.” 

Chris Macpherson, senior regional business partner at the Community Broker Network (CBN), underlines the brokerage’s achievements.
“The fact that after 11 years of operation Eternity continues to excel and achieve growth well exceeding market mean growth demonstrates the loyalty and long-term relationships it has developed with its existing clients, which allows Eternity to grow with its clients,” he says.
And the industry expert also praises the sterling leadership displayed by Hon, resulting in the firm's impressive growth.
“Spencer is a highly driven individual who is focused on building a successful insurance broking business with a good workplace culture. The way he approaches his clients and drives the best solutions he can find in the market to fit what they ask him to deliver is where he excels," he explains.


Fastest-Growing Insurance Companies in Australia | Fast Brokerages

Fast Brokerages
  • Aviso WA Insurance Brokers
  • Barrack Broking
  • Blue Gum Insurance
  • Eternity Insurance and Financial Services
  • GT Insurance Brokers
  • Insurance HQ
  • Knightsbridge Insurance Group
  • Macleay Insurance
  • McLardy McShane Partners
  • Morgan Insurance Brokers
  • Pivot Insurance
  • PSC Reliance Partners Baulkham Hills
  • RCA Insurance Services
  • Smith & Lane Insurance
  • Stonewell Insurance Brokers
  • Westblake t/a Rubik Insurance Solutions
Fast Starters
  • Macleay Insurance
  • Pivot Insurance
  • RCA Insurance Services
  • Smith & Lane Insurance
  • Stonewell Insurance Brokers
  • Westblake t/a Rubik Insurance Solutions


As part of our editorial process, Key Media’s researchers interviewed the subject matter expert below for an independent analysis of this report and its findings.


Insurance Business invited submissions for its Fast Brokerages awards in January 2024 as the publication sought to recognise brokerages across the country that excel during unpredictable times. The research team asked brokerages to list their revenue totals for the 2022 and 2023 calendar years, in addition to other growth milestones they wanted to highlight. Then, the nominations were evaluated to determine which brokerages experienced standout growth.

The 2024 Fast Brokerages awards are given to brokerages that have achieved more than 20% combined growth in GWP and revenue.

A total of 16 brokerages made the final list of Fast Brokerages this year. Insurance Business also highlights six brokerages as Fast Starters that have been in business for three years or less, making their mark on the insurance landscape. These brokerages confirmed their resilience and cemented their strong positions in the Australian insurance industry.

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