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Renewed creation of brokerage firms in 2018-2019

by

Frédérique De Simone

28 August 2019 11:30

Photo : Freepik

1 August 2018 to 31 July 2019, the Journal of insurance has counted 57 new registration of firms the registrar of companies and individuals authorized to practise of theAutorité des marchés financiers. Of this number, 15 were confirmed to have launched their business. In 12 cases, it comes to brokers, while for the other 3, it is autonomous agents.

What is it of the 42 others ? For 32 of them, it is a question of administrative changes ranging from change of name to the repurchase volume. The other does we have not recalled or have refused to disclose the nature of the inscription.

Among those who agreed to talk to us, many have shared their story and the reasons that pushed them to start their own business in damage insurance in Québec.

A firm digital

Created by the insurance broker of the damage Xavier Freeman , and the programmer Fellipe Monteiro, Allset is listed as one of the first brokerage firms canadian fully-digital sector. It is a assurtech independent that specializes in home insurance for tenants of city-dwellers aged 25 to 35 years.

The two co-founders have allied their forces to provide a different formula that allows the customer to get a quote and the coverage best suited to their needs in just a few minutes, all on the platform Allset. The young shoot has developed its own technology environment, which uses codes similar to the artificial intelligence.

The firm’s digital business with more than a dozen insurers in which it sells products, including Intact Insurance, Aviva Canada, Promutuel, RSA Canada, Groupe Ledor, April Canada and Insurance Economical. In an interview to the Journal of insurance, Mr. Freeman has mentioned that it wanted to offer other types of products that are more nestled beneath little. It is perhaps this which explains the presence of The Guarantee among its partners. The firm currently has an office in Montreal and one in Toronto.

Take mom away from retirement

Girard Cloutier Assurances is a family business that has seen the light of day in early 2019, while Line Girard, a broker of experience, is headed for retirement. His two children, also in the industry, he was introduced to the idea of building a family business. The opportunity being attractive, Ms. Girard is left to try. Here it is now at the head of the company.

The firm offers property and casualty insurance to individuals : home, auto, recreational vehicles and boats. The firm is independent, but does business under the banner of Intergroup.

The new credit insurance

Credit insurance is not a playground and is very popular among the new brokers. For Mike Kabengele Nduba, the founder ofKINGDOM insurance Brokerage-credit, a new firm for the business, ” there was an opportunity niche to enter “.

Mr. Nduba, a passionate advocate of the credit insurance and atypical, made his first steps in insurance with Euler Hermes as the developer of the business in 2012. This is the epiphany ! He then discovers, at the age of 33, this branch of the insurance business that would become his livelihood seven years later.

In January 2019, with her partner who is also her former boss, Louis Planted, it launches a brokerage firm specialized in credit insurance. Its clients are, for the moment, only quebec companies, but some of them have a global presence. KINGDOM Brokerage is expected to soon broaden its horizons to the western provinces and the Maritimes, in the short or medium term, said Mr Nduba in the Journal of the insurance.

KINGDOM insurance Brokerage-credit is a small business decentralised, which has no physical office. Its founder says to bet on teleworking to promote work-family balance and offer more flexible hours to its employees. In the interview, he explained that to reach the next generation and the new generation of brokers, it is necessary to adapt to their needs and practices. He adds that it is addressing their conditions that it is possible to keep them in the industry.

Leave the big city to be close to its customers

Altitude More, a firm of life insurance, general insurance and financial services, is not a newcomer. However, in the last year, his team is exiled to the big city to settle down in the outskirts of Montreal.

The founder, david Raiche, told the Journal of insurance have left the borough of Saint-Laurent to move permanently to Saint-Eustache order to be closer to its customers and to take advantage of the accessibility offered by the commuter. Finished the orange cones, congestion, rents are exorbitant and the lack of parking, ” he says.

Agents and wholesalers

Last year, many firms have affiliates in The Capital. This year, the Journal of insurance has counted only one : Nhi Thanh Truc Vo, a damage insurance broker in the greater Montreal area, has created BM Insurance in August 2018, and is affiliated a few months later in The Capital. She became agent for the insurer.

François Roberge, d’Insurance François Roberge, is also become an agent in life insurance, but at SSQ Insurance.

Finally, DAS Legal Protection has established a new canadian entity a year ago, when she became general agent administrator (AGA). Its director general is Rissa Revin, who previously worked for Munich Re and Aon.

 

Who has earned units in 2018 : the dealers, brokers or direct ?

In its print edition in September 2019, the of the insurance Journal will publish its popular folder on the share market for property and casualty insurance. Is it that the brokerage has gained ground in 2018 ? Or has he seen the insurers direct new him remove it ? The answer in our September issue !

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