TD Insurance Direct Agency Inc.

What TD Insurance Direct Agency Inc. does

TD Insurance Direct Agency Inc. is the primary direct-to-consumer insurance distribution subsidiary of The Toronto-Dominion Bank (TD Bank Group), one of Canada's largest financial institutions. The company distributes personal, small business, and credit protection insurance products across Canada through the tdinsurance.com website, a mobile application (rated 4.8/5 on the App Store and 4.3/5 on Google Play), the MyInsurance self-service portal, phone-based licensed advisors, and TD Bank's branch network. Core product lines include auto, home, condo, tenant, motorcycle, ATV, snowmobile, and motor home coverage for personal lines; term life and guaranteed acceptance life; travel medical (single-trip, multi-trip, multi-trip all-inclusive, and trip cancellation); accident and health (critical accident, critical illness, accidental death, accident disability, health and dental via Green Shield Canada); credit protection (mortgage, line of credit, loan, credit card, business credit); and small business commercial property, general liability, and commercial auto. Automobile coverage is not available in British Columbia, Manitoba, or Saskatchewan due to provincial legislation; the remaining provinces and territories are served, with French-language support in Quebec via TD Insurance Meloche Monnex.

Name

TD Insurance Direct Agency Inc.

Legal name

TD Insurance Direct Agency Inc.

Website

https://tdinsurance.com

Company type

Private

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

TD Insurance Direct Agency Inc. is the direct-to-consumer insurance distribution subsidiary of TD Bank Group, distributing personal, small business, travel, life, accident and health, and credit protection insurance products to over 4 million Canadians across multiple digital and branch channels.

Ownership category

akta.pro rank

Product category

Personal and Commercial Insurance Distribution

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

akta.pro secondary industries

Individual Health Insurance Brokerage & Distribution (FSAIAEAL), Travel & Accident (Non-Life) Insurance (FSAJAMAN), Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD), Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

Keywords

• Personal lines insurance
• Commercial insurance
• Insurance distribution
• Travel insurance
• Life insurance

Headquarters

HQ city

Montreal

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, Infrastructure, Others

Revenue model

1. Personal Insurance Premiums: Collection of recurring insurance premiums from personal lines coverage including auto, home, condo, tenant, term life, guaranteed acceptance life, travel, accident and health insurance. Premiums are collected on annual or monthly payment schedules.
2. Business Insurance Premiums: Commercial insurance premiums for small businesses including commercial property, commercial general liability, and commercial auto insurance coverage.
3. Credit Protection Products: Credit protection and creditor insurance products including TD Mortgage Protection, TD Line of Credit Protection, TD Loan Protection, TD Credit Card Payment Protection Plan, and TD Business Credit Protection.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

TD Insurance Direct Agency Inc. distributes a comprehensive portfolio of personal and small business insurance products across Canada, including auto, home, condo, tenant, recreational vehicle, life, travel, accident and health, credit protection, and commercial insurance coverage. Products are sold directly to consumers and small businesses through the TD Insurance website, mobile app, MyInsurance portal, phone-based licensed advisors, and TD Bank branch network, leveraging the TD Bank brand and existing customer base for cross-selling.

Product overview

TD Insurance Direct Agency Inc. operates as a digital insurance distribution channel for TD Bank Group, offering a comprehensive portfolio of personal and business insurance products. The core offering consists of personal lines insurance including auto, home, condo, tenant, motorcycle, ATV, snowmobile, and motor home coverage, distributed through direct online channels including the TD Insurance website, mobile app, and MyInsurance portal. Beyond personal insurance, the portfolio includes life insurance (term life, guaranteed acceptance life), travel insurance (single-trip and multi-trip medical, all-inclusive, trip cancellation), accident and health insurance (critical accident, critical illness, accidental death, accident disability, health and dental), credit protection products (mortgage, line of credit, loan, credit card, and business credit protection), and small business insurance (commercial property, general liability, commercial auto). The company differentiates through technology features including the TD MyAdvantage telematics program, Photo Based Estimates for claims, the MyInsurance digital portal, and a generative AI chatbot for customer inquiries. Insurance products are underwritten by various TD Insurance Group companies including Security National Insurance Company, Primmum Insurance Company, TD General Insurance Company, TD Home and Auto Insurance Company, and TD Life Insurance Company.

Differentiator

Problem solved

Functional benefit

Brands

• TD Insurance Meloche Monnex: Home and auto insurance program for professionals and alumni, underwritten by Security National Insurance Company and distributed by Meloche Monnex Insurance and Financial Services Inc. in Québec, and TD Insurance Direct Agency Inc. in the rest of Canada. Also includes home and auto insurance program for employer groups underwritten by Primmum Insurance Company.

Products and services

• TD Auto Insurance (Car Insurance) Comprehensive auto insurance coverage for vehicles that are financed, owned, or leased, including mandatory and optional coverages. Available across most Canadian provinces (excluding British Columbia, Manitoba, and Saskatchewan due to provincial legislation).
• TD Home Insurance Flexible, customizable homeowner insurance coverage to protect property with various endorsement options for individual homeowners.
• TD Condo Insurance Coverage for personal belongings and unit improvements for condominium owners.
• TD Tenant Insurance Coverage to repair or replace belongings and protect against liability for renters who accidentally injure someone or damage their property.
• TD Motorcycle Insurance Mandatory and optional coverage designed for motorcycle requirements.
• TD ATV Insurance From mandatory to optional coverage for all-terrain vehicles, helping customers tackle trails with confidence.
• TD Snowmobile Insurance Coverage for snowmobile owners during winter riding season.
• TD Motor Home Insurance Policies to help protect motor home owners whether parked or out on adventures.
• TD Term Life Insurance Individual life insurance plan providing financial protection for loved ones' futures if the insured passes away. Instant approval available for coverage up to $1,000,000 for those under 50, up to $500,000 for those under 60, or up to $249,999 for those under 70.
• TD Guaranteed Acceptance Life Insurance Financial support for loved ones that helps pay for final expenses such as funeral costs and outstanding debts. Available without medical exam.
• TD Insurance Single-Trip Medical Plan Emergency travel medical coverage for a single trip outside the province or territory of residence, underwritten by TD Life Insurance Company and administered by Global Excel Management Inc.
• TD Insurance Multi-Trip Medical Plan Cost-effective emergency travel medical coverage for unlimited trips (up to chosen maximum trip duration) for one year.
• TD Insurance Multi-Trip All-Inclusive Plan Emergency travel medical coverage, trip cancellation and interruption, and additional benefits for multiple trips within one year.
• TD Insurance Trip Cancellation & Interruption Plan Coverage for eligible non-medical expenses if a trip is cancelled or interrupted due to a covered event.
• TD Insurance Travel Top-up or Extension Coverage to top up or extend travel medical insurance for trips beyond initial policy limits.
• TD Critical Accident Recovery Plan Group insurance plan designed to help reduce financial strain and pay for costs while recovering from a covered critical accident.
• TD Critical Illness Recovery Plan Individual accident and sickness insurance plan providing a tax-free lump sum payment to help with financial support while recovering from a covered critical illness.
• TD Accidental Death Insurance Plan Provides a lump sum payment to family members if the insured passes away due to a covered accident.
• TD Accident Disability Insurance Plan Provides monthly benefits to help replace lost income if the insured becomes disabled as a result of a covered accident and is unable to work.
• TD Health and Dental Plans Plans provided by Green Shield Canada (GSC) that help cover routine as well as unexpected health-related expenses.
• TD Mortgage Protection Optional credit protection offering Mortgage Life and Critical Illness Insurance that can reduce or pay off the outstanding mortgage balance if the borrower experiences an unexpected covered event.
• TD Line of Credit Protection Optional coverage offering Line of Credit Life and Critical Illness Insurance that can reduce or pay off the outstanding line of credit balance if the borrower experiences an unexpected covered event.
• TD Loan Protection Optional coverage offering Loan Life and Disability Insurance that can reduce or pay off the outstanding loan balance if the borrower experiences an unexpected covered event.
• TD Credit Card Payment Protection Plan Optional coverage that can make payments to a TD credit card in the event of covered job loss or total disability, or reduce/pay off the outstanding balance in the event of covered loss of life.
• TD Business Credit Protection Optional coverage that can reduce or pay off an outstanding business credit balance if the business owner or someone essential to the business passes away, experiences a covered critical illness, or becomes totally disabled.
• TD Commercial Property Insurance Coverage for business buildings and contents to help protect businesses from property damage losses.
• TD Commercial General Liability Insurance Flexible coverage options for incidents where the business may be found liable, such as a customer slipping and falling on premises.
• TD Commercial Auto Insurance Coverage for vehicles used to run a business, including protection for passengers in case of accidents.
• TD Private Client Insurance (High-Value Homeowner) Customized high-value homeowner insurance coverage for clients with complex insurance needs, with dedicated advice from TD Insurance advisors.

Quantifiable outcome

• Average 25% savings on home insurance premium for claims-free customers
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability9 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and significant.

• Global Excel Management Inc.coreTechnology or IntegrationAdminstrator of TD Insurance travel insurance plans including Multi-Trip All-Inclusive Plan, Single-Trip Medical Plan, and Multi-Trip Medical Plan. Also provides travel claims processing and medical assistance services through its subsidiary CanAm Insurance Services (2018) Ltd.
• CanAm Insurance Services (2018) Ltd.coreTechnology or IntegrationSubsidiary of Global Excel Management Inc. serving as registered insurance agency in Quebec (Registration No. 603188) in the disciplines of Damage Insurance and Insurance of persons. Handles travel insurance administration and distribution for TD Insurance.
• Green Shield CanadacoreStrategic or Co-development PartnerPartner providing TD Insurance Health and Dental Plans. Green Shield Canada plans help cover routine and unexpected health-related expenses for TD Insurance customers. Plans available through phone enrollment at 1-888-788-0839.
• The Toronto-Dominion Bank (Parent)coreStrategic or Co-development PartnerParent company and ultimate holding company for TD Insurance. TD Bank Group provides deposit, investment, loan, securities, trust, insurance and other products and services. TD Insurance products are distributed through TD Bank branches and leverage TD Bank customer relationships.
• Alumni and Professional Associations (750+ groups)significantChannel Partner/ Reseller/ DistributorOver 750 alumni associations, professional organizations, and employer groups partner with TD Insurance to offer exclusive group insurance programs to their members with potential savings on auto and home insurance.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Belairdirect: Direct-to-consumer insurance subsidiary of Intact Financial Corporation offering personal lines (auto, home, travel) online and via phone in Canada. Directly comparable as a DTC insurance distributor competing for the same Canadian households.
• Sonnet Insurance: Fully online personal lines insurer owned by Intact Financial, selling auto and home insurance in Canada through a 100% digital experience. Closely comparable as a digital-first alternative competing for the same modern Canadian consumer.
• BMO Insurance: Insurance distribution subsidiary of Bank of Montreal offering life, health, and travel insurance through digital and branch channels in Canada. Comparable as another Big Six bank insurance arm leveraging cross-sell into a captive customer base.
• RBC Insurance: Insurance arm of Royal Bank of Canada distributing life, health, auto, home, and travel insurance through bank channels and digital. Highly comparable as a direct peer — a bank-owned Canadian insurance distributor with the same captive distribution model.

Broad incumbents

• The Co-operators: Canadian multi-line insurance and financial services cooperative offering personal, commercial, life, and group insurance with a broad agency and direct distribution footprint. Comparable as a multi-line Canadian insurance distributor.
• Desjardins Insurance: Insurance arm of the Desjardins Group cooperative in Quebec and Canada-wide, offering personal and commercial lines through direct, broker, and credit union channels. Comparable as a captive distribution model leveraging a large parent financial institution.
• Canada Life: Subsidiary of Great-West Lifeco offering life, health, and wealth insurance products to individuals and groups across Canada. Comparable for the life, accident and health, and group insurance lines TD Insurance distributes.
• Intact Financial Corporation: Canada's largest provider of property and casualty insurance, distributing through owned brands (Belairdirect, Sonnet) and a broker network. Comparable as the leading integrated P&C competitor encompassing TD Insurance's full product set.
• Wawanesa Insurance: Canadian mutual insurer providing auto, home, and commercial insurance across all provinces with direct and broker distribution. Comparable as a broad-based Canadian personal lines competitor.
• Aviva Canada: One of Canada's largest P&C insurance carriers offering auto, home, and business insurance through direct and broker channels. Comparable as a broad Canadian insurance incumbent with overlapping product lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/td-insurance

Revenue estimate

Valuation estimate

Number of profiles

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 TD Insurance Direct Agency Inc.