Top 10 brokerages revealed!

Top 10 brokerages revealed! | Insurance Business

Top 10 brokerages revealed!
A record number of applications have been sifted through and Insurance Business is pleased to announce that allinsure – IAA has been named the top brokerage in Australia.

The Canberra-based brokerage was able to knock Mega Capital & BizCover off the top spot, a title that they had held for two consecutive years having now finished in the top two for four years, as Westcourt General rounded out the top three.

Peter Chamberlain, director of allinsure, revealed the secrets to the success of the business saying that culture was key to driving growth.

“I believe culture is key, and the culture that we have established at allinsure has played a significant role in our success,” Chamberlain told Insurance Business.

“We strive to create a collaborative environment where our team are excited to come to work, face challenges head on and continue to grow both the business and themselves.”

In what has been a challenging year for the broker market in general, Chamberlain stressed that brokers are still a vital part of the market and should remain that way.

“Collectively, we need to set ourselves apart from the direct market by being a trusted adviser, rather than selling a product,” Chamberlain said.
 
“This comes back to working closely with our clients to help them recognise what it is that we do and how we can add value to their business. New and emerging markets or risks (such as Cyber) will be a key growth area, but again we need to educate our clients to make the most of it.”

Tim Garratt, editor of Insurance Business, praised the entrants to this year’s competition and said how important it is to celebrate success within the industry.

“Brokers and ARs aren’t known for singing about their achievements from the rooftop. This list is an opportunity the publication takes to highlight some of the genuinely impressive work that’s been undertaken in brokerages around Australia during the most recent financial year.”

“We received a record number of entries for our Top 10 Insurance Brokerages list. It’s great to see how many businesses right across the country are getting involved.”

Garratt explained the selection criteria for the Top 10 list and stressed that the decision isn’t based solely on revenue.

“The list doesn’t just recognise brokerages on total revenue,” Garratt continued.

“The methodology employed to determine the rankings is about ensuring businesses are rewarded per broker, not for pure critical mass. The approach Insurance Business takes to ranking brokerages ensures even smaller players find themselves on a level playing field against the larger businesses, helping us to establish the true nation’s best.”

The full Top 10 are as follows:

1. allinsure - IAA
2. Mega Capital and BizCover
3. Westcourt General Insurance Brokers
4. Your Risk Adviser / Truckers Insurance HQ
5. Simplex Insurance Solutions
6. Gibbscorp Insurance & Risk
7. NAS Insurance Brokers
8. North Queensland Insurance Brokers
= Apollo Risk Services
10. IPS Insurance Broker