Insurance Business has identified this year’s best businesses in the Canadian wholesale distribution channel, thanks to the help of the nation’s insurance brokers.
Insurance Business Canada (IBC) found this year’s best MGAs by asking respondents to rate the performance and service of their wholesale partners on a scale of 1 (poor) to 5 (excellent) against 10 criteria:
The MGAs with an average score of 4 or greater in at least one category received a 5-Star designation. Those that received an average score of 4 or greater in all categories received an All-Star designation.
The IBC team also asked brokers to rank their top three MGAs across 20 major types of insurance and then share the top insurance products offered by an MGA.
Based on broker feedback, the IBC team then calculated the top three MGAs for each insurance type and awarded them with gold, silver, and bronze medals. Meanwhile, three businesses whose insurance products received the most votes from brokers received the Brokers’ Pick medal.
Among this year’s winners this year are: