Acumen Insurance Group

What Acumen Insurance Group does

Acumen Insurance Group is a privately held independent insurance brokerage founded in 1983 by Sal Bagazzoli as Bagazzoli Insurance Brokerage in Hamilton, Ontario, and rebranded to its current name in 1998. The firm distributes personal and commercial insurance products through two Ontario offices — Stoney Creek (headquarters) and Missississauga — serving communities across the Hamilton, GTA, Niagara, and southwestern Ontario regions. Its personal-lines portfolio includes home, condo, tenant, cottage, student rental, auto (cars, classic/antique, RV/trailer), life, and travel coverage; the commercial portfolio spans general liability, property, professional liability, cyber, and commercial auto, augmented by specialized programs for cannabis operators, contractors, farms, medical salons, building owners, and roofers.

Revenue is generated exclusively through commissions paid by carrier partners for policies placed and serviced; no direct fees are charged to customers. The firm has no proprietary technology platform — its digital surface consists of a website with online quote request forms, location-targeted SEO and blog content, and standard social channels (Facebook, Instagram, LinkedIn, X). The sole technology-enabled offering is the "my Driving Discount" telematics program operated through partner carrier Intact Insurance, which monitors driving behaviors to deliver premium discounts of up to 30 percent. Distribution is broker-led across in-person, phone (e.g., 905-574-7000), and email touchpoints, supported by IBAO professional association membership and an extensive local community partnership footprint (McMaster Children's Hospital Foundation, Mohawk College, and multiple Hamilton-area charities).

The customer base skews heavily toward individual households and small-to-mid Ontario businesses; named logos are individual/family policyholders, and segment descriptions emphasize personal lines as primary alongside mid-market commercial accounts. Ownership remains concentrated with the Bagazzoli family, with Sal Bagazzoli serving as President and Founder and family members in commercial brokerage and management roles. There is no indication of external private equity or institutional investment, and the firm has not raised any disclosed funding rounds.

Name

Acumen Insurance Group

Legal name

Acumen Insurance Group

Website

https://acumeninsurance.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Short description

Acumen Insurance Group is an Ontario-based independent insurance brokerage founded in 1983, distributing personal and commercial coverage across two offices in Stoney Creek and Missississauga via licensed brokers earning carrier-paid commissions.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Independent insurance brokerage
• Commercial insurance solutions
• Personal lines insurance
• Ontario insurance broker
• Business insurance coverage

Headquarters

HQ city

Stoney Creek

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Brokerage Commissions: As an independent insurance brokerage, Acumen Insurance earns revenue through commissions paid by insurance carriers for policies placed. Customers do not pay direct fees for brokerage services; instead, the insurance company compensates the broker for bringing and servicing their policies. This creates an incentive for brokers to find the best coverage at competitive rates for customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Acumen Insurance Group is an independent insurance brokerage that distributes personal and commercial insurance products through licensed insurance brokers comparing quotes and coverage options across multiple insurance carriers. Operating from offices in Stoney Creek and Mississauga, the brokerage sells home, condo, cottage, tenant, student rental, auto, classic car, RV, life, travel, business, cannabis, contractors, farm, and specialized insurance on an advisory basis, earning carrier-paid commissions without charging direct fees to customers.

Product overview

Acumen Insurance Group offers a comprehensive portfolio of personal and commercial insurance products through a network of insurance providers in Ontario. The personal insurance portfolio includes core products for home (with named perils, broad form, and comprehensive coverage options), auto (mandatory liability and optional coverage), life (term, whole, and universal), and travel insurance, supplemented by specialty products for condos, cottages, student rentals, RVs, and classic cars. The business insurance portfolio covers commercial general liability, property, professional liability, cyber, and commercial auto, with specialized programs for cannabis, contractors, farms, medical salons, building owners, and roofers. A telematics-based safe driving discount program (via Intact Insurance) and water protection add-on provide supplementary coverage options. The company operates as a brokerage distributing insurance products rather than as an insurance carrier.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Insurance Home insurance coverage for Ontario homeowners protecting against fire, theft, water damage, and natural disasters, including property, contents, liability, and additional living expenses coverage.
• Condo Insurance Insurance for Ontario condo unit owners covering personal space, belongings, upgrades, renovations, personal property, contingency, and loss assessment.
• Cottage Insurance Specialty insurance for Ontario vacation properties and seasonal homes providing named perils coverage and protection for detached structures and contents.
• Tenant Insurance Insurance for Ontario renters covering personal belongings against theft, fire, or water damage with liability and additional living expenses coverage.
• Student Rental Insurance Specialty landlord insurance for Ontario student rental properties covering property damage, liability, loss of rental income, tenant damage, extended unoccupancy, and legal expenses.
• Auto Insurance Ontario auto insurance covering mandatory third-party liability, accident benefits, direct compensation property damage, and optional collision, comprehensive, and specified perils coverage for cars, RVs, trailers, and classic cars.
• Classic & Antique Car Insurance Specialty insurance for classic and antique vehicles covering accidents, theft, vandalism, and injuries with options for stored-vehicle coverage.
• RV & Trailer Insurance Insurance for recreational vehicles, motorhomes, and trailers covering accidents, theft, vandalism, and contents inside the vehicle.
• Life Insurance Life insurance brokerage offering term life, whole life, and universal life providing income replacement, debt coverage, funeral expenses, mortgage protection, and critical illness coverage.
• Travel Insurance Travel insurance providing emergency medical coverage, trip cancellation compensation, and lost baggage coverage including options for pre-existing health conditions.
• Business Insurance Commercial insurance for Ontario businesses covering commercial general liability, commercial property, professional liability, cyber liability, commercial auto, and business interruption.
• Cannabis Insurance Specialty insurance for the Ontario cannabis industry covering cultivators, dispensaries, retail operations, landlords, testing laboratories, processors, manufacturers, and ancillary businesses.
• Contractors Insurance Commercial insurance package for Ontario contractors covering commercial general liability, tools and equipment, commercial auto, business interruption, commercial cyber, environmental liability, and workers compensation.
• Farm Insurance Insurance for Ontario farms of all types covering buildings, livestock, machinery, crops, liability, business interruption, and equipment breakdown.
• Specialized Insurance Industry-specific insurance solutions for Ontario medical salons and spas, building owners and landlords, and roofing contractors with customizable coverage programs.

Quantifiable outcome

• Access to extensive network of insurance providers for competitive pricing options
• +1 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Twelve partnerships are on record, tiered core and minor.

• McMaster Children's Hospital FoundationcoreOthersAcumen Insurance hosts an annual golf tournament with 100% of proceeds going to McMaster Children's Hospital Foundation. One Acumen staff member serves as Director on the foundation board. The foundation hosts various events to raise funding to support the children's hospital.
• Mohawk CollegecoreOthersAcumen Insurance provides two Acumen Insurance Bursary Awards annually to the highest performing students in Mohawk's insurance program, supporting education and workforce development in the insurance industry.
• Joy and Hope of HaitiminorOthersFor the past 10 years, Acumen Insurance has supported One Mission in their work with The Joy and Hope of Haiti, a charitable initiative supporting the Haitian community.
• HARRRP (Hamilton Association for Recreational and Redevelopment Programs)coreOthersAcumen's president has served as a director of HARRRP, which helps with community programs in high-risk neighborhoods. This long-standing partnership demonstrates commitment to local community development.
• St. Joseph's Healthcare HamiltonminorOthersAcumen is an ongoing contributor to St. Joseph's Healthcare Hamilton, which is renowned for its innovation, care, and superior research facility.
• The Charity of HopeminorOthersDuring the last 5 years, Acumen Insurance has been a regular contributor to Charity of Hope, a local charity for underprivileged youth.
• The Good ShepherdminorOthersAcumen is honored to provide support to the Good Shepherd Foundation for the Good Shepherd Square Project, which assists vulnerable populations in the community.
• Heartland Farm MutualcoreOthersLong-standing relationship with Ontario's Farm Mutuals. Heartland established the iHeart Community Fund providing community-based services including donations to Cancer Assistance Drive & Ride Program, Mission Service London food bank, and medical face shield donations to Ontario hospitals during COVID-19.
• Dumfries MutualcoreOthersOntario's oldest mutual insurance company (180+ years operating). Dumfries provides customer spotlights via social media to support local businesses during challenging periods, maintaining community relationships.
• Peel Mutual InsurancecoreOthersPeel Mutual Insurance launched #GiveBack campaign in August 2020 supporting community agencies including Knight's Table, Caledon Exchange, and Big Brothers Big Sisters of Barrie, demonstrating mutual commitment to community support.
• Intact InsurancecoreTechnology or IntegrationPartnership with Intact Insurance to offer the 'my Driving Discount' telematics program, enabling drivers to save up to 30% on car insurance premiums. The program monitors driving behaviors including acceleration, braking, and time of day driving.
• Insurance Brokers Association of Ontario (IBAO)coreOthersAcumen Insurance is a proud member of the Insurance Brokers Association of Ontario, adhering to the highest professional standards and ensuring clients receive trusted advice, exceptional service, and access to some of the best insurance products in the industry.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• BrokerLink: Canadian multi-line insurance brokerage operating personal, commercial, and specialty lines across multiple provinces. Directly comparable in product breadth and independent-brokerage model to Acumen, but larger in scale and geographic reach.
• Western Financial Group: Western Canadian multi-line insurance brokerage offering personal, commercial, and farm insurance through independent broker offices. Closely comparable independent-brokerage model; regional rather than Ontario overlap but same customer profile.
• Jones Deslauriers Insurance Managers: Canadian commercial-focused insurance brokerage serving businesses across multiple provinces with emphasis on specialty commercial lines. Comparable to Acumen's commercial and specialty brokerage operations, though more weighted to enterprise commercial accounts.
• BFL Canada Insurance Services: Canadian specialty insurance brokerage focused on commercial and corporate risks. Comparable independent-brokerage model serving commercial clients with specialty coverage needs, similar to Acumen's specialty commercial programs.
• Mitchell & Abbott Insurance Brokers: Ontario-based independent insurance brokerage offering personal, commercial, and specialty lines with a similar multi-carrier advisory model. Closely comparable regional peer competing for the same Ontario small-business and household customers.

Broad incumbents

• HUB International Canada: One of the largest Canadian insurance brokerages with broad personal, commercial, and specialty offerings across the country. Operates in the same product category but at much larger scale than Acumen, including national carrier relationships and broader geographic reach.
• Aviva Canada: Major Canadian property and casualty insurance carrier offering personal and commercial coverage directly and through brokers like Acumen. Competes for the same underlying Ontario policyholders as a carrier, overlapping Acumen's distribution role from the supply side.

Others

• Intact Financial Corporation: Largest Canadian P&C insurer and a key carrier partner of Acumen (telematics my Driving Discount program). Acts as carrier-of-record on many Acumen-placed policies, so its pricing and appetite directly shape Acumen's commission economics and product availability.

Emerging players

• Sonnet Insurance: Direct-to-consumer digital Canadian home and auto insurance provider (part of Definity Financial). Competes for the same Ontario personal-lines customers as Acumen, bypassing the broker entirely — relevant competitor on Acumen's retail book of business.
• Belairdirect: Direct Canadian auto and home insurance provider selling online and by phone without broker intermediation. Competes with Acumen on the personal-lines side, representing a structural alternative to broker-distributed coverage for Ontario customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/acumenins
• Facebookfacebook.com/AcumenInsuranceGroup
• LinkedInlinkedin.com/company/acumen-insurance-group
• Instagraminstagram.com/acumeninsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Acumen Insurance Group