Simplassur
- Company typePrivate
- Founded2021
- HeadquartersToronto, Canada
- Headcount11–50
- GTM typeB2C
- OfferingServices
Simplassur firmographics
Firmographics- Name
- Simplassur
- Legal name
- 9581561 Canada Inc.
- Website
- https://simplassur.ca
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Simplassur industry classification
Industry- Product category
- Insurance Brokerage
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)
- akta.pro secondary industry
- Embedded Insurance Distribution & Premium Financing (FSAGALAF)
Keywords
Where Simplassur is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Simplassur business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure
Revenue model
- Insurance Brokerage Commissions: Simplassur operates as an insurance brokerage earning commissions from insurance carriers on each policy sold and renewed. Commission rates vary by insurer and product line. For auto insurance, commissions range from 5-12.5% (Jevco) to 20% (RSA) of total premium. For property insurance, commissions range from 20% (Intact, Aviva) to N/A (Jevco). Additional contingent profit commissions may be paid based on growth, profitability, volume, retention ratios, and service levels. Brokerage compensation is included in the insurance premium charged to customers.
- Mortgage Brokerage Referral Revenue: Simplassur is embedded within the M3 Group's mortgage broker ecosystem. Insurance products are offered and distributed through mortgage broker referrals, with Simplassur providing commissions or referral arrangements back to the broker network. This creates a land-and-expand revenue dynamic where mortgage holders are introduced to insurance products at the point of mortgage origination.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Auto Insurance — Safe Driver Program Discount |
| Subscription | Annual | Home & Auto Multi-Policy Discount |
| Subscription | Monthly | Mortgage Protection Insurance — Life |
| Subscription | Monthly | Mortgage Disability Insurance |
| Subscription | Monthly | Critical Illness Insurance |
| Subscription | Monthly | Disability Insurance |
| Transaction based/ take rate | Monthly | Commission Disclosure — Auto Insurance |
| Transaction based/ take rate | Monthly | Commission Disclosure — Property Insurance |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Simplassur product offering
Product offeringCore offering
Simplassur is a Canadian insurance brokerage that distributes mortgage protection insurance (life, disability, critical illness), individual life insurance, disability insurance, critical illness insurance, travel insurance, home insurance, and auto insurance through its network of 8,300+ licensed mortgage brokers operating under five M3 Group mortgage brands (Invis, MortgageAlliance, MortgageIntelligence, VERICO, Multi-Prets). The company aggregates products from multiple insurance carriers including Intact, Aviva, RSA, Jevco, and Canada Life, offering customers a one-stop insurance shop with portable coverage and competitive pricing averaging 10% below market.
Product overview
Simplassur is a Canadian insurance brokerage offering a comprehensive suite of insurance products distributed through five mortgage brands (Invis, Mortgage Alliance, Mortgage Intelligence, VERICO, and Multi-Prets) and over 8,300 mortgage brokers across Canada. The product portfolio centers on mortgage protection products (Mortgage Life Insurance and Mortgage Disability Insurance) as core offerings, supplemented by individual insurance products (Life, Critical Illness, Disability, and Travel insurance) and property & casualty insurance (Home and Auto insurance). The company operates as part of M3 Financial Group and provides these products exclusively through licensed insurance brokers, with coverage underwritten by various insurance carriers including Intact, Aviva, RSA, and Canada Life.
Differentiator
Problem solved
Functional benefit
Products and services
- Mortgage Protection Insurance
Quantifiable outcome
- Over 50,000 happy customers served
- +4 more outcomes
Companies that use Simplassur
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Simplassur technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Simplassur partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core and secondary.
- InviscoreInvis is one of five national mortgage brokerage brands through which Simplassur insurance products are distributed. Invis brokers across Canada refer homeowners to Simplassur for insurance products at the point of mortgage origination.
- MortgageAlliancecoreMortgageAlliance is one of five national mortgage brokerage brands through which Simplassur distributes its insurance products. MortgageAlliance has been raising funds for the Canadian Cancer Society since 2008, having raised over $1.5M.
- MortgageIntelligencecoreMortgageIntelligence is one of five national mortgage brokerage brands distributing Simplassur insurance products. MortgageIntelligence brokers participate in the Angels in the Night homeless shelter initiative.
- VERICOcoreVERICO is one of five national mortgage brokerage brands distributing Simplassur insurance products. VERICO's Helping Hands program has donated to numerous Canadian charities since 2015.
- Multi-Prets (MPH)coreMulti-Prets (MPH) is one of five national mortgage brokerage brands distributing Simplassur insurance products through its network of mortgage brokers across Canada.
- Intact InsurancecoreIntact Insurance is a primary insurance carrier partner for Simplassur's home and auto insurance products. Commission rate of 20% for property insurance and 12.5% for automobile insurance. Unitas Insurance Services Limited has a disclosed financial relationship with Intact Insurance Company of Canada.
- Aviva CanadacoreAviva Canada is an insurance carrier partner for Simplassur's home and auto insurance products, offering automobile insurance at 12.5% commission and property insurance at 20% commission.
- RSA (Royal & Sun Alliance)coreRSA is an insurance carrier partner for Simplassur's auto insurance products, offering a 20% commission rate for private passenger automobile coverage.
- JevcosecondaryJevco is an insurance carrier partner for Simplassur's auto and property insurance products. Commission rates range from 5-12.5% for automobile coverage.
- Canada Life Assurance CompanycoreCanada Life is the underwriter of Simplassur's group Mortgage Protection Insurance (life, disability, critical illness) policy. All mortgage protection insurance coverage is governed by Canada Life's group policy terms. Canada Life also handles claims adjudication for mortgage insurance claims (1-800-380-4572).
- Economical InsurancecoreEconomical Insurance is a partner insurer for Simplassur's home and auto insurance products, featured on the claims page with a dedicated claims line.
- L'Unique InsurancesecondaryL'Unique Insurance is a partner insurer for Simplassur's home and auto insurance products.
- April CanadasecondaryApril Canada is a partner insurer for Simplassur's home and auto insurance products.
- Premier Canada AssurancesecondaryPremier Canada Assurance is a partner insurer for Simplassur's home and auto insurance products, featured on the claims page with phone 1-450-497-0016.
- NovaprosecondaryNovapro is a partner insurer for Simplassur's home and auto insurance products.
- Echelon InsurancesecondaryEchelon Insurance is a partner insurer for Simplassur's home and auto insurance products, featured on the claims page with claims line 1-888-662-0222.
- Unitas Insurance Services LimitedcoreUnitas Insurance Services Limited is Simplassur's duly licensed insurance broker through which all insurance coverages are offered. Principal place of business: 2005 Sheppard Ave. E., Suite 200, Toronto, ON M2J 5B4.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Simplassur competitors and assessment
Company assessmentEmerging players
- RateHub.ca: Canadian online financial product comparison platform covering mortgages, insurance, and credit cards. Comparable as a digital intermediary operating in adjacent distribution channels, with overlap on home/auto insurance shopping.
- Sonnet Insurance: Direct-to-consumer digital insurance brand owned by Economical Insurance, offering home and auto online. A direct-to-consumer InsurTech player that competes with Simplassur by bypassing broker commissions — comparable in product category but with a contrasting distribution model.
- Kanetix: Canadian online insurance comparison platform aggregating multiple carrier quotes for home, auto, and travel. Comparable as a digital intermediary in the Canadian distribution chain, though focused on self-serve comparison rather than broker-led selling.
- Square One Insurance Services: Canadian direct-to-consumer insurance provider offering customizable home and auto insurance online. Comparable as a Canadian personal lines provider competing for the same household insurance wallet, but with a digital-first rather than broker-led distribution.
Direct peers
- Westland Insurance Group: Canadian insurance brokerage operating across Western and Eastern Canada, distributing home, auto, life, and commercial insurance through multiple carrier partnerships. Comparable as a multi-carrier, multi-line Canadian insurance brokerage targeting households and SMBs.
- BrokerLink: One of Canada's largest insurance brokerages distributing home, auto, and life insurance through a multi-carrier model across multiple provinces. Direct peer as a Canadian multi-line insurance brokerage competing for the same household customers with a comparable multi-carrier proposition.
Broad incumbents
- HUB International: Large North American insurance brokerage with significant Canadian operations offering personal and commercial lines. A broader incumbent that competes with Simplassur on home/auto brokerage but operates at materially greater scale and with a commercial focus.
- BFL Canada: Major Canadian insurance brokerage distributing specialty and commercial lines, with personal lines exposure. Comparable as a multi-carrier Canadian brokerage but with a more commercial-skewed book, placing it as a broader incumbent.
- Canada Life: Major Canadian life and health insurer and the sole underwriter of Simplassur's mortgage protection insurance product. A core carrier partner that is also a broader incumbent competing in the same individual life and disability insurance end market.
- Intact Financial Corporation: Canada's largest property and casualty insurer and a primary carrier partner for Simplassur's home and auto book. A broader incumbent that both supplies product to Simplassur and competes via its own direct and broker channels.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Simplassur social profiles
Digital presenceSimplassur financial estimates
Financial estimateRevenue estimate
Valuation estimate
Simplassur leadership team
Management profileNumber of profiles
Profiles20 records
Simplassur funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Simplassur 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 Simplassur
What does Simplassur do?
Simplassur is a Canadian insurance brokerage that distributes mortgage protection insurance (life, disability, critical illness), individual life insurance, disability insurance, critical illness insurance, travel insurance, home insurance, and auto insurance through its network of 8,300+ licensed mortgage brokers operating under five M3 Group mortgage brands (Invis, MortgageAlliance, MortgageIntelligence, VERICO, Multi-Prets). The company aggregates products from multiple insurance carriers including Intact, Aviva, RSA, Jevco, and Canada Life, offering customers a one-stop insurance shop with portable coverage and competitive pricing averaging 10% below market.
Is Simplassur a public or private company?
Simplassur is a private company. It is classified as corporate owned and is currently operating.
When was Simplassur founded?
Simplassur was founded in 2021. It employs 11 to 50 people.
Where is Simplassur based?
Simplassur is headquartered in Toronto, Canada, in the North America region.
How does Simplassur make money?
Two revenue lines are on record. Insurance Brokerage Commissions are the primary driver. The others are mortgage Brokerage Referral Revenue.
Who are Simplassur's main competitors?
Emerging players on record are RateHub.ca, Sonnet Insurance, Kanetix and Square One Insurance Services. Direct peers are Westland Insurance Group and BrokerLink. Broad incumbents are HUB International, BFL Canada, Canada Life and Intact Financial Corporation.
Does Simplassur have an API?
No public API is recorded for Simplassur.
What industry is Simplassur in?
Simplassur's product category is Insurance Brokerage. Its primary akta.pro industry code is FSAEADAJ, Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines), with a secondary code of FSAGALAF, Embedded Insurance Distribution & Premium Financing. Its NAICS code is 5242 and its SIC code is 6411.