Top Brokerages 2016

What recession? The 31 firms on Insurance Business Canada’s annual list of the country’s top brokerages are flourishing despite tough times

Top Brokerages 2016

In an increasingly competitive economic climate, making Insurance Business Canada’s annual list of top brokerages is harder than ever.

This year, we collected a wealth of statistical and qualitative information on the nominees. Client counts at the end of 2015 and the previous year were compared, as well as client retention rates and the degree to which the brokerage was successful in bringing on new clients. On the revenue side, overall revenue and new revenue for last year wer e taken into account, as well as revenue per broker and policy. We wanted to assess the efficiency of each brokerage’s brokers too, so we looked at the total number of brokers writing business within each company and juxtaposed that against, revenues, number of policies, number of clients and number of new clients.

From this statistical feast we distilled succinct rankings and weighted and combined those rankings.

Beyond purely reviewing numbers, we assessed nominees on attributes such as innovation, client relations and strategic leadership. And to some degree, we looked at the character and culture inherent in a successful brokerage. Because, at the end of the day, it’s easy to forget the importance of that human touch and the impact it has in today’s hyper-digitized world – especially in a client-focused service industry like insurance.

Emerging from that process are the 31 brokerages making this year’s list that truly exemplify the success and well-rounded approach that it takes to get ahead in today’s market.

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