Oracle RMS: Everything you need to know
Year founded: 2011
Total number of offices: 8
Number of employees: 100
Leadership: Michael Di Nardo, president; John Ferraro, CEO
Oracle RMS specializes in offering commercial and personal insurance to small and medium-sized businesses in Ontario. Its insurance offerings include automobile, home, commercial, motorcycle, landlord protection, travel, life and health, bonding, specialty programs, group home and auto, snowmobile clubs, ride/car/home sharing, snow removal, contractors and construction, manufacturers, cyber, and landscaping.
With more than 40 years of experience between them, Oracle’s founding partners Michael Di Nardo and John Ferraro wanted to establish a brokerage that delivered a higher standard of professional advice and service. They opened the company’s doors in 2011 with only four employees, and, in a short period of time, have grown the brokerage to 100 employees.
According to its top leaders, Oracle’s competitive edge comes from a large investment in digital technology. The adoption of live, instant, and easily accessible functions, such as e-docs, e-signatures and e-approvals, push Oracle to the top of the industry, which sometimes lags with regards to modern technology.
Oracle RMS in the news
2015: Oracle experiences its biggest year to date and relocates to Concord, ON to further grow its business.
2017: Oracle is identified as a 2017 CSIO Technology Leader by leveraging a new CRM system to better manage and integrate day-to-day operations.
2018: Oracle expands through the acquisition of six new branch locations spread across Ontario.
Key people as of 2019
John Ferraro – CEO and co-founder of Oracle RMS
After working for other brokerages for 17 years, Ferraro launched his own brokerage with his best friend and business partner, Michael Di Nardo, in 2011. The company has grown rapidly over recent years, which Ferraro attributes to the pair’s unique management style. Outside of the office, Ferraro and his wife have become very involved with Autism Speaks Canada.
Michael Di Nardo – President and co-founder of Oracle RMS
Di Nardo’s late father was an insurance broker, so he was familiar with the industry from a young age, before founding Oracle with his business partner.
He was named an Elite Broker by Insurance Business Canada in 2015, achieving $3 million in revenue and averaging over $33,000 per client. Despite his success, Di Nardo still finds time to volunteer his time to local organizations and mentor new talent at Oracle.
“My passions in the office are helping and watching my colleagues succeed. I particularly enjoy mentoring our new young brokers to our team. Watching my fellow colleagues achieve their goals in becoming successful is exciting and rewarding,” he said.
As the need for technological integration grows, Oracle’s aim is to stay on top of this trend. The company has engaged in change management initiatives to introduce its new CRM and broker management systems, assist its team to adapt to these new technologies, and encourage creativity and the flow of innovation ideas. Its leaders have learned that with the right balance of human expertise and technological systems, Oracle will be able to accomplish its company-wide goals.
Its two founders have said Oracle is like the Google of insurance – it’s a young and dynamic team that likes to work hard, but play harder. After launching its online digital personal lines division – insuremeonline.ca – the company wrote over $1.5 million in the first year. The company also started a surety division, which hit close to the $1 million mark in under two years.