Insurance Business Canada (IBC) has revealed its list of 5-Star Brokerages.

These top-rated brokerages stood out for their dedication to serving clients effectively, their adoption of innovative technologies, and unparalleled expertise in their field.

Selection process for IBC 5-Star Brokerages

For inclusion in IBC’s prestigious 5-Star Brokerages ranking, brokerages were required to submit comprehensive business details for the fiscal years of 2022 and 2023. The required information included metrics on revenue, policy issuance, and client demographics. To qualify, brokerages needed to operate with a minimum of three brokers and possess an establishment within Canada.

Evaluation of the brokerages was carried out across eight key performance indicators:

• total revenue;
• growth in revenue;
• revenue generated per broker;
• total client count;
• increase in new clients;
• growth in client base,;
• number of policies issued; and
• growth in policies.

Rankings were determined by aggregating scores across these criteria, with a preference for lower cumulative scores, mirroring the scoring system in golf. This ranking methodology places emphasis on the quality and efficiency of broker services rather than their size.

See the full list of 2024 winners by reading the IBC 5-Star Brokerages special report.