BrokerLink’s expansion into new Canadian provinces in recent months has solidified its claim as a truly national brokerage, a significant milestone in its long-term vision.
Now one of Canada’s top brokerages, BrokerLink has been steadily growing through mergers and acquisitions. With its latest acquisition of Schill Insurance Brokers, a well-established, BC-based broker, BrokerLink is positioning itself as a true national player with an eye on long-term growth.
“We wanted to make sure when we entered a brand-new province, we went in with scale,” said BrokerLink president Joe D’Annunzio (pictured). Schill provided that scale, he explained, along with expertise in ICBC and earthquake insurance – both critical aspects of BC’s insurance landscape.
According to D’Annunzio, BrokerLink is close to achieving its goal of becoming a $5-billion brokerage by 2025. He spoke to Insurance Business about the firm’s future beyond hitting this target and the most significant challenges for Canadian brokerages at this time.
“Last year, we finished over $4 billion, and we're on track to hit $5 billion by year-end,” D’Annunzio said. “That plan remains intact.”
The alignment with Schill, a brokerage with 11 locations and over 200 staff well-versed in BC’s distinct insurance market, was a logical step towards BrokerLink’s goals.
But D’Annunzio stressed the expansion isn’t about simply “planting flags” in every Canadian territory. “Our vision remains the same. We want to continue to build the most respected brokerage in the country,” he said. “We expanded into two more provinces last year through our Ontario-based acquisition of Standard Insurance, which had locations in Saskatchewan and Manitoba. With BC now in the mix, we are truly national.”
The national expansion also reflects broader market dynamics. BC represents a significant insurance market, ranking among the top five provinces in terms of business opportunities. BrokerLink had already been operating in BC indirectly, servicing clients from Alberta, but having a local presence changes the equation.
“Having boots on the ground now allows us to get some considerable growth,” D’Annunzio said. That local presence is part of a broader strategy to embed the company within the communities it serves, an approach that has driven growth across its 230 locations.
Growth isn’t slowing down. BrokerLink’s next focus is on continued growth through organic expansion and digital solutions.
“As the industry evolves, we will stay ahead with strong commercial operations and ongoing investments in our communities and workforce,” said D’Annunzio. “Our employees need the best tools to grow within brokering, and we've been recognized as a top employer for the past four years.
“Customer experience remains our top priority. While every broker aims for that, our size and scale allow us to invest in advanced tools, including artificial intelligence, that smaller competitors simply can't. These innovations will differentiate us in the market.”
At the same time, D’Annunzio acknowledged several major challenges to Canadian brokerages. Talent remains a major battleground in the insurance industry, and BrokerLink is making substantial investments in its people. The brokerage aims to prioritize competitive salaries, career development, and employee satisfaction to remain a top employer.
“There is a fight for talent. We just don't buy business; we also bring on key talent part of the brokering family, and that's invaluable,” D’Annunzio said.
Beyond internal challenges, external pressures are mounting. Climate change is reshaping the insurance landscape, driving up premiums and increasing risk exposure.
D’Annunzio pointed to the scale of devastation caused by wildfires in Los Angeles, and the flooding, severe storms, and wildfires in Canada last year, as a sign that brokers need to step up initiative.
“I think we have to make sure that our customers are aware of why insurance premiums are going up, help them understand what they can do to mitigate losses, and ensure that they have the right coverages,” he said.
Regulatory changes in Alberta and Ontario add another layer of complexity that will have “huge impacts” on the insurance industry. “We make sure our people are trained up to what the new regulations and are up to speed quickly, to make sure they are giving the right advice to our customers,” D’Annunzio said.
In Alberta, challenges around auto insurance caps could lead to further capacity issues. “We have strong partnerships with insurers (in the province), so we're well-positioned, but capacity concerns remain,” D’Annunzio said.
Finally, consumer behaviour is also shifting, demanding a more flexible, responsive approach from brokers.
“How customers buy insurance and how they expect to be served has changed,” said D’Annunzio. “We want to make sure that we have the right tools through an omnichannel approach for how a customer wants to be served, whether it's text, phone, call, or walking up – we want to have that solution for them.”
Do you agree with D’Annunzio’s assessment of the challenges in the Canadian brokerage landscape? Please share your perspective below.
