At the end of last year, ICMIF members Gore Mutual and Portage Mutual were recognised among the best insurance carriers in Canada, achieving a 5-Star rating across multiple categories, in Insurance Business Canada’s seventh annual broker survey.
Each year, Insurance Business Canada asks hundreds of insurance brokers from across the country how well insurance companies are meeting expectations for its 5-Star Carriers Report 2022. Agents and brokers rate their insurance carriers on a scale of one (poor) to five (excellent) across 10 categories and provide valuable and constructive feedback through their comments.
Carriers that received an 80% or greater score in a category were awarded 5 Stars in recognition of being outstanding. This year 15 different carriers were recognised as being IBC 5-Star Carriers.
Gore Mutual earned the 5-star designation in four categories: product innovation; competitive rates; range of products; and underwriting expertise. Speaking to Insurance Business Canada, Paul Jackson, COO of Gore Mutual, said: “This year has been challenging for the industry on several fronts, including significant weather events and unprecedented supply chain pressures. Our team has worked incredibly hard to stay on top of processing and servicing, and I’m pleased to say that most of our operational metrics are in line with targets, which means most of our brokers and customers are getting the service they expect.
Gore Mutual attributes its competitiveness to several factors, said Jackson: “I’m proud of our performance in this survey, and I think it reflects the sheer scale and pace of our transformation. In less than three years, we have replaced all our legacy systems and operating models, doubled our workforce and unlocked our ability to scale the business efficiently and fast.
“Our north star has always been to make Gore Mutual Insurance an easy and natural choice for brokers, and that means simple products, competitive pricing and great services.” he added.
Portage Mutual achieved the highest rating in three categories: claims processing; quick quotes; competitive rates.
Portage Mutual is a 100% Canadian-owned mutual company that prides itself on partnering with over 800 professional brokerage offices across the country. It was formed in 1884 based on the principles of security, integrity, hard work and personalised service.
The company has a national presence but maintains a timeless, friendly, small-town and personalised way of doing business. Portage Mutual believes that its partnership with professional insurance brokers results in better service and value to its policy holders as they are able to know their communities and their insurance needs the best.
Fellow ICMIF member Wawanesa Insurance was also rated as a 5-Star Carrier in the broker communication category.
Top Insurance Employers 2022
At the end of last year, Insurance Business Canada also announced the winners of its 2022 Top Insurance Employers. ICMIF members Red River Mutual and The Mutual Fire Insurance Company of British Columbia were recognised as winning organisations for 2022.
In the fourth annual survey, employees anonymously ranked their companies in a range of areas including benefits, culture, employee development, and diversity and inclusion. This resulted in 37 winning firms, which achieved an average satisfaction rating of 80% or more. All of these organisations are delivering for their employees and have been recognised for creating engaging environments.
Red River Mutual was named a Top Insurance Employer in the 101-500 employees category for the fourth year in a row. Announcing the award, the company said: “We’re honoured to be recognised and we’re grateful for the support of our whole team as we work together to be a positive influence in the lives of our customers and community.”
The Mutual Fire Insurance Company of British Columbia was a 2022 winner in the 26–100 employees category.
