One brokerage has taken a giant leap forward jumpstarting its organic growth with the purchase of more than 650 commercial clients.
ALIGNED Insurance Inc. a commercial insurance brokerage with offices in Vancouver, Calgary, Toronto & Waterloo announced week the purchase of over 650 commercial clients and over 850 commercial policies through an asset purchase.
“We to experience significant organic growth due to our unique way of doing business,” said Andrew Clark, president and CEO of ALIGNED, “and are thrilled to add over 650 new clients as we continue to deliver industry leading insurance and risk management solutions to our great & growing group of clients across Canada.”
The purchase was completed on December 31, 2014.
Clark sees the company’s offer of a zero per cent/fixed fee offer as being a major component contributing to the success of the company.
“Given the value we deliver clients through our ‘18 Points of Differentiation’ which includes our zero per cent commission/fixed-fee offering ALIGNED sees opportunity in all major markets and across all industries because its ‘how’ we do we do business that resonates so strongly,” Clark told
Insurance Business. “Currently, we are focused on continued growth in Ontario and encouraged by the interest we continue to receive in Vancouver & Calgary which is why we recently launched offices in both cities.”
Clark made the 2013 Top 30 Elite Broker listing in
Insurance Business magazine when he was with
Marsh Insurance, before making the jump in March 2014 to form his own company, ALIGNED, seeing an opportunity utilize his expertise in the directors and officers’ insurance space.
“That is my expertise, and that product line is drastically undersold in the company space,” he said. “There is certainly a lot of product out there; it’s just not a lot of companies buying it. When you get into the underwriting process (with D&O) it requires a certain kind of intimacy, because you are getting involved in the company’s financials. There is a severity of exposure there, so it is not for everybody.”
