Top 10 Insurance Brokers in Canada - 2024

To thrive in today's challenging and dynamic market, insurers must swiftly innovate. Over the past few years, new products aimed at enhancing relevance and accessibility have emerged and are expected to gain even more popularity. These include on-demand insurance for gig workers and usage-based products driven by telematics and sensor data, which enable behavioral-based pricing.

The next phase of evolution is embedded insurance, where policies are offered at the point of sale of another product or service. Embedded insurance has been gaining momentum, enabling insurers, especially property and casualty firms, to connect with their customers in innovative and engaging ways.

Technology is a major driver of change in the insurance brokerage landscape. Insurers are increasingly adopting advanced technologies such as AI, data analytics and automation to streamline operations, improve customer experience and manage risks more effectively. The use of digital platforms for customer engagement and self-service is becoming more prevalent, with insurers focusing on providing seamless digital experiences that cater to techsavvy customers

Driven by these trends, the insurance brokers and agents market is projected to grow at a CAGR of over nine percent by 2032, attributed to the growing imperative toward digital customer engagement, such as online platforms, mobile apps and chatbots.

In this edition of Insurance Business Review Canada, we provide insights into recent developments in the insurance market and how insurance broker companies align with the latest trends.

It features a thought leadership article from Alex Stonkus, Senior Underwriting Manager at BCAA, who talks about insights on innovation and product development in the insurance industry, specifically focused on creating a new small business insurance product at BCAA. It also features an article from Holly Hollenbeck, JD, CRIS, Regional Vice President, Legal and Contracts, Marsh McLennan Agency who sheds light on the growing threat of ‘nuclear verdicts’ and ‘thermonuclear verdicts’ in various industries, particularly in personal injury cases and how companies can mitigate this risk.

We also bring you the story of the top insurance broker companies helping customers and clients find the right insurance coverage for their specific circumstances. One of them is Greatway Financial Inc. which stands out in the insurance industry by prioritizing genuine care for clients and employees, thorough education and a commitment to transforming lives through its services and work culture.

In this edition featuring the Top Insurance Brokers in Canada, we hope you find the right partner to meet your organization’s needs.

Insurance Brokers Canada | Insurance Business Review

Insurance Brokers Canada - 2024

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Greatway Financial Inc.

From modest origins, Greatway Financial, once a small MGA, has evolved into a respected insurance brokerage. Partnering with reputable providers, the firm offers Canadians and immigrants quality financial education and services. Its vision is to educate families on insurance strategies, while the mission focuses on training agents to deliver exceptional services.

We understand these financial pressures, as well as the insurance they require. It’s well-known that 90 percent of those with life insurance are underinsured. We ensure that clients fully understand their existing coverage and options
- Eunice Dator, Executive Vice Chairman

Marlon Antonio, Lead Mentor, Founder and CEO
Greatway Financial Inc.

From modest origins, Greatway Financial, once a small MGA, has evolved into a respected insurance brokerage. Partnering with reputable providers, the firm offers Canadians and immigrants quality financial education and services. Its vision is to educate families on insurance strategies, while the mission focuses on training agents to deliver exceptional services.
We understand these financial pressures, as well as the insurance they require. It’s well-known that 90 percent of those with life insurance are underinsured. We ensure that clients fully understand their existing coverage and options
- Eunice Dator, Executive Vice Chairman

Marlon Antonio, Lead Mentor, Founder and CEO,..
Prairie Centre Insurance

Prairie Centre Insurance is a Canadian agency that helps small-town business owners retire by purchasing their companies, streamlining operations and preserving their legacy within the local community.

Prairie Centre Insurance helps residential and farmland owners, along with local commercial businesses, with an exit strategy. This ensures their operations remain functional while preserving the honor, legacy and community presence that the owner worked so hard to build

Lisa Perkins, Manager
Prairie Centre Insurance

Prairie Centre Insurance is a Canadian agency that helps small-town business owners retire by purchasing their companies, streamlining operations and preserving their legacy within the local community.
Prairie Centre Insurance helps residential and farmland owners, along with local commercial businesses, with an exit strategy. This ensures their operations remain functional while preserving the honor, legacy and community presence that the owner worked so hard to build

Lisa Perkins, Manager,..
Acera Insurance

Acera Insurance offers comprehensive solutions tailored to individual and corporate needs. With a commitment to customer satisfaction and financial security, Acera specializes in home, auto, life, and business insurance. It is known for their competitive rates and personalized service, they ensures peace of mind through reliable coverage and exceptional support.
Acera Insurance

Acera Insurance offers comprehensive solutions tailored to individual and corporate needs. With a commitment to customer satisfaction and financial security, Acera specializes in home, auto, life, and business insurance. It is known for their competitive rates and personalized service, they ensures peace of mind through reliable coverage and exceptional support.
American Global

American Global is a leading provider of integrated financial and insurance services worldwide. Specializing in risk management, investment strategies, and insurance solutions, American Global serves diverse clients with innovative products and personalized advisory. Known for their global reach and industry expertise,They strive for excellence in financial security and client satisfaction.
American Global

American Global is a leading provider of integrated financial and insurance services worldwide. Specializing in risk management, investment strategies, and insurance solutions, American Global serves diverse clients with innovative products and personalized advisory. Known for their global reach and industry expertise,They strive for excellence in financial security and client satisfaction.
Assurancia

Assurancia is a dynamic insurance brokerage dedicated in delivering tailored insurance solutions across personal and commercial sectors. With a focus on client-centric service and extensive industry knowledge, Assurancia offers coverage options that prioritize customer needs and financial security.The company ensures peace of mind through proactive risk management.
Assurancia

Assurancia is a dynamic insurance brokerage dedicated in delivering tailored insurance solutions across personal and commercial sectors. With a focus on client-centric service and extensive industry knowledge, Assurancia offers coverage options that prioritize customer needs and financial security.The company ensures peace of mind through proactive risk management.
BFL CANADA

BFL CANADA is a insurance brokerage known for its innovative risk management solutions. Serving clients across Canada and internationally, BFL specializes in personalized insurance and consulting services for businesses and individuals. With a commitment to excellence and client satisfaction, They deliver comprehensive coverage and strategic advice customized to diverse needs
BFL CANADA

BFL CANADA is a insurance brokerage known for its innovative risk management solutions. Serving clients across Canada and internationally, BFL specializes in personalized insurance and consulting services for businesses and individuals. With a commitment to excellence and client satisfaction, They deliver comprehensive coverage and strategic advice customized to diverse needs
Canadian Broker Network

Canadian Broker Network is a leading alliance of independent insurance brokerages across Canada. CBN empowers its members with enhanced market access, resources, to deliver superior insurance solutions. With a focus on local expertise and national strength, They ensures clients receive personalized service and comprehensive coverage options tailored to their needs.
Canadian Broker Network

Canadian Broker Network is a leading alliance of independent insurance brokerages across Canada. CBN empowers its members with enhanced market access, resources, to deliver superior insurance solutions. With a focus on local expertise and national strength, They ensures clients receive personalized service and comprehensive coverage options tailored to their needs.
ELM Insurance Brokers

ELM Insurance Brokers is a trusted provider of personalized insurance solutions, serving clients with integrity and expertise. Specializing in home, auto, commercial, and life insurance, The company prioritizes customer satisfaction through modified coverage and responsive service. Known for its commitment to excellence and community engagement.
ELM Insurance Brokers

ELM Insurance Brokers is a trusted provider of personalized insurance solutions, serving clients with integrity and expertise. Specializing in home, auto, commercial, and life insurance, The company prioritizes customer satisfaction through modified coverage and responsive service. Known for its commitment to excellence and community engagement.
Lareau

Lareau is a leading insurance brokerage renowned for its personalized service and innovative solutions. Serving clients across Canada, Lareau specializes in commercial, personal, and group insurance, offering customized coverage that meets diverse needs. With a commitment to excellence and client satisfaction, They provide reliable protection and proactive risk management strategies.
Lareau

Lareau is a leading insurance brokerage renowned for its personalized service and innovative solutions. Serving clients across Canada, Lareau specializes in commercial, personal, and group insurance, offering customized coverage that meets diverse needs. With a commitment to excellence and client satisfaction, They provide reliable protection and proactive risk management strategies.
TuGo

TuGo is a trusted provider of travel and health insurance solutions, dedicated to protecting travelers worldwide. With a focus on innovation and customer care, TuGo offers comprehensive coverage options tailored to individual and corporate needs. Known for reliability and compassionate service, They ensures peace of mind during every journey and medical event.
TuGo

TuGo is a trusted provider of travel and health insurance solutions, dedicated to protecting travelers worldwide. With a focus on innovation and customer care, TuGo offers comprehensive coverage options tailored to individual and corporate needs. Known for reliability and compassionate service, They ensures peace of mind during every journey and medical event.