Surex
Surex is a privately held Canadian online insurance brokerage operating an online marketplace that lets consumers, landlords, small businesses, and farm owners across all 9 provinces and territories compare and purchase auto, home, and specialty insurance from 10+ carrier partners.
- Company typePrivate
- Founded2011
- HeadquartersMagrath, Canada
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Surex does
Surex is a privately held Canadian online insurance brokerage founded in 2011 in Magrath, Alberta by Lance Miller and Matt Alston, and operated under the legal entity Surexdirect.com Ltd. The company operates an online insurance marketplace that enables Canadian consumers, landlords, small businesses, and farm owners to compare up to 10 quotes from 10+ carrier partners (including Echelon, CAA, Aviva, Intact, Economical, TuGo, Jevco, Wawanesa, SGI Canada, Coachman, Milnco, and Hagerty) across auto, home, condo, tenant, landlord, business, motorcycle, ATV, snowmobile, RV/trailer, boat, travel, and farm insurance lines. Surex holds itself out as Canada's largest digital insurance broker and serves customers across all 9 provinces and territories, with regional offices in Burlington, Ontario and a technology hub in Cambridge, Ontario.
The platform is built on a proprietary brokerage management system (Brix BMS) and incorporates AI/ML capabilities including lead scoring that predicts purchase likelihood, machine-learning analysis of claims data to inform carrier pricing, and a recommendation engine underpinning the Surex Pulse annual quote review product. In October 2025 Surex adopted Applied Systems' Digital Brokerage platform to automate workflows, and the firm maintains integrations such as the Filogix Expert mortgage broker channel. The company carries certifications of brand strength through repeated Globe & Mail Top Growing Companies and Growth 500 placements, and recognition as a Top Insurance Employer in 2023 and 2025.
Surex's revenue model is transaction-based: it earns broker commissions from insurance carriers for policies placed through the marketplace. There is no disclosed public funding; the company announced a flagship strategic partnership with iA Financial Group in November 2021. Topline trajectory has been strong but moderating, with verified 3-year revenue growth of 192% (2019), 145% (2021), and 96% (2022), supported by book size milestones from $0.6M in 2012 to $62M in 2018 to $100M+ in 2020.
Surex firmographics
Firmographics- Name
- Surex
- Legal name
- Surexdirect.com Ltd.
- Website
- https://surex.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Surex is a privately held Canadian online insurance brokerage operating an online marketplace that lets consumers, landlords, small businesses, and farm owners across all 9 provinces and territories compare and purchase auto, home, and specialty insurance from 10+ carrier partners.
- Ownership category
- akta.pro rank
Surex industry classification
Industry- Product category
- Insurance Brokerage
- NAICS
- Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Claims Management & Digital FNOL Platforms (FSAGAGAC)
Keywords
Where Surex is headquartered
LocationHeadquarters
- HQ city
- Magrath
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Surex business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Technology or R&D, Operations
Revenue model
- Broker Commissions: Surex earns commissions from insurance carriers for placing business. As a broker, they receive quotes from multiple insurance providers and earn a commission when customers purchase policies through the platform.
- Insurance Brokerage Fees: Revenue generated from broker services including policy placement, customer support, and ongoing policy management across multiple insurance carriers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free quote comparison service |
| Other | Monthly | Insurance premiums paid to carriers |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Surex product offering
Product offeringCore offering
Surex operates an online insurance brokerage platform that enables Canadian consumers to compare quotes from 10+ insurance carriers for auto, home, condo, tenant, landlord, business, motorcycle, ATV, snowmobile, RV, boat, travel, and farm insurance. Customers receive up to 10 quotes in 5-10 minutes online, then connect with licensed insurance advisors who verify quotes, apply discounts, and finalize policy purchases with digital proof of insurance and e-signatures.
Product overview
Surex is Canada's largest digital insurance broker operating an online Insurance Marketplace platform that enables customers to compare and purchase insurance from 10+ carrier partners. The core platform provides quotes across auto, home, condo, tenant, landlord, and business insurance, supplemented by seasonal/recreational products including motorcycle, ATV, snowmobile, RV/trailer, boat, travel, and farm insurance. The portfolio includes add-on products like Bundle Insurance for multi-policy discounts. Key platform features include Surex Pulse for ongoing quote monitoring, a Quote Wizard for streamlined digital quoting, and MySurex customer portal for policy management. The platform connects customers with insurance advisors while enabling online purchase with instant digital proof of insurance. Surex was rebranded from Surex Direct in 2019 and has grown to operate across 9 provinces and all territories.
Differentiator
Problem solved
Functional benefit
Products and services
- Auto Insurance Auto/car insurance comparison service providing coverage quotes and options from multiple insurance providers for individual consumers.
- Home Insurance Home insurance comparison service for homeowners covering detached, semi-detached, townhouse, and seasonal properties.
- Condo/Strata Insurance Condominium and strata insurance coverage for condo owners comparing rates and coverage options from multiple carriers.
- Tenant/Renter Insurance Tenant insurance covering personal belongings, liability protection, and relocation costs for renters, typically $20-$30/month in Ontario.
- Rented Dwellings/Landlord Insurance
Quantifiable outcome
- Customers can save up to 20% by bundling home and auto insurance
- +2 more outcomes
Companies that use Surex
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Surex technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability4 records
Feature6 records
Surex partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered core, flagship and minor.
- Applied DigitalcoreSurex adopted Applied's Digital Brokerage solution to automate and enhance insurance workflows, meeting customer demand for fast, digital services. The solution offers cloud-based management, self-service, and integration features to improve efficiency and customer experience.
- CAA Insurance CompanycoreNew partnership with CAA Insurance Company joining Surex's roster of insurance providers, giving clients even more choices on carrier, coverages, and price. CAA is a well-known Canadian brand helping Canadians for over 115 years.
- iA Financial GroupflagshipStrategic partnership with iA Financial Group announced in November 2021, representing a significant alignment to help achieve larger growth goals. The merger/partnership helps Surex continue to grow and reach bigger objectives.
- FilogixcoreSurex partnered with Filogix to streamline mortgage and insurance application processes. The integration allows mortgage brokers to initiate home insurance quotes alongside mortgage applications at the click of a button, with access to 10+ offers from Canada's leading insurance carriers within the Filogix Expert platform.
- Ottawa SenatorsflagshipSurex expanded to Ontario with a digital focus and launched its first major branding move through a sponsorship with the Ottawa Senators to boost brand awareness in Canada's largest insurance market.
- Echelon InsurancecoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- AvivacoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- Intact InsurancecoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- Economical InsurancecoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- TuGocoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform, specializing in travel insurance.
- Jevco InsurancecoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- Wawanesa InsurancecoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- SGI CanadacoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- Coachman InsurancecoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- Milnco InsurancecoreOne of 10+ insurance carrier partners providing insurance products through Surex's marketplace platform.
- Hagerty InsurancecoreOne of 10+ insurance carrier partners providing specialty insurance products through Surex's marketplace platform.
- Innocean Worldwide CanadacoreAdvertising agency partner that helped Surex achieve milestones and win the 2021 CMA Martech Silver Award in Finance category for the Finding Leads by Taking the Lead campaign.
- Google CanadaminorGoogle Canada was the sponsor of the CanadianSME National Business Awards where Surex was a finalist for Entrepreneur of the Year and Technopreneur of the Year awards.
Scale indicators12 records
Recent moves12 records
Expansion highlights6 records
Surex competitors and assessment
Company assessmentRegional players
- Policygenius: US online insurance marketplace covering life, home, auto and disability insurance with advisor support. Comparable to Surex as a digital insurance marketplace with human advisor layer, but US-focused and broader in life insurance.
- The Zebra: US-based insurance comparison marketplace for auto, home and other lines. Closest US analog to Surex in the multi-carrier digital comparison model, but operates in the United States rather than Canada.
- Lemonade: US D2C insurtech using AI-driven underwriting and claims for renters, home, auto, pet and life. Comparable to Surex in digital-first insurance and AI application, but operates as a carrier and is US-only.
- SelectQuote: US online insurance distribution platform comparing policies from multiple carriers for life, auto and home. Comparable to Surex in the multi-carrier comparison plus assisted-closing model, but US-focused and with strong senior-focused positioning.
Direct peers
- Ratehub.ca: Canadian financial product comparison platform covering insurance, mortgages, credit cards and deposits. Overlaps directly with Surex on home and auto insurance comparison and increasingly on embedded mortgage-insurance bundles.
- InsuranceHotline.com: Long-standing Canadian insurance quote comparison service covering auto, home and other lines. Competes head-to-head with Surex for online insurance shoppers in Canada and uses a similar multi-carrier comparison plus lead-routing model.
- LowestRates.ca: Canadian rate comparison marketplace for insurance, mortgages and other financial products. Comparable to Surex in digital comparison and lead-routing across multiple carriers.
- Kanetix: Canadian online insurance comparison platform that aggregates quotes from multiple insurers for auto, home and other personal lines. Most directly comparable to Surex in geography, product scope and multi-carrier comparison model.
Broad incumbents
- Belairdirect: Direct digital P&C insurer backed by Intact Financial operating across Canada. Comparable to Surex as a Canadian digital-first insurance channel but operating as a carrier rather than a multi-carrier broker.
- Sonnet Insurance: Direct-to-consumer digital P&C insurer launched by Intact Financial, one of Surex's carrier partners. Sonnet offers online auto and home insurance without a broker, making it a structural incumbent competitor that threatens to disintermediate Surex.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Surex social profiles
Digital presenceSurex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Surex leadership team
Management profileNumber of profiles
Profiles12 records
Surex funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Surex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Surex
What does Surex do?
Surex operates an online insurance brokerage platform that enables Canadian consumers to compare quotes from 10+ insurance carriers for auto, home, condo, tenant, landlord, business, motorcycle, ATV, snowmobile, RV, boat, travel, and farm insurance. Customers receive up to 10 quotes in 5-10 minutes online, then connect with licensed insurance advisors who verify quotes, apply discounts, and finalize policy purchases with digital proof of insurance and e-signatures.
Is Surex a public or private company?
Surex is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Surex founded?
Surex was founded in 2011. It employs 51 to 100 people.
Where is Surex based?
Surex is headquartered in Magrath, Canada, in the North America region.
How does Surex make money?
Two revenue lines are on record. Broker Commissions are the primary driver. The others are insurance Brokerage Fees.
Who are Surex's main competitors?
Regional players on record are Policygenius, The Zebra, Lemonade and SelectQuote. Direct peers are Ratehub.ca, InsuranceHotline.com, LowestRates.ca and Kanetix. Broad incumbents are Belairdirect and Sonnet Insurance.
Does Surex have an API?
No public API is recorded for Surex.
What industry is Surex in?
Surex's product category is Insurance Brokerage. Its primary akta.pro industry code is FSAGAGAC, Claims Management & Digital FNOL Platforms. Its NAICS code is 524210 and its SIC code is 6411.