CIBC Insurance Agency Inc.

What CIBC Insurance Agency Inc. does

CIBC Insurance Agency Inc. is a wholly-owned insurance subsidiary of Canadian Imperial Bank of Commerce (CIBC), one of Canada's Big Five chartered banks. Operating under the "CIBC Insurance" trade name, the company distributes a portfolio of consumer insurance products to Canadian residents, organized into three lines: Life, Health and Accident Insurance (Term Life, Guaranteed Acceptance Life, Critical Illness, and Accident Protection); Travel Insurance (Travel Medical, Trip Cancellation & Interruption Enhanced, and Comprehensive plans); and Creditor Insurance (CIBC Payment Protector™ for credit cards, plus creditor cover for CIBC mortgages, personal loans, and personal lines of credit).

The business runs as a direct-to-consumer insurance distribution platform fully embedded in CIBC's banking ecosystem. Products are quoted, purchased, and serviced through the CIBC corporate website, a dedicated phone line (1-888-393-1110), and CIBC's Canadian branch network. The technology footprint is a digital insurance distribution layer — online quote tools, policy management, and claims intake — that sits on top of standard web and contact-center infrastructure rather than a proprietary underwriting engine; no proprietary AI, model, or platform IP is disclosed.

Revenue is generated primarily through recurring insurance premiums collected from policyholders on life, travel, and creditor insurance products, with quote-based pricing on travel and individual underwriting on life and creditor lines. The company is not currently accepting new applications for its Life, Health and Accident Insurance line, leaving travel insurance as the only category with active new-business quote flows, while creditor insurance continues to attach to CIBC's credit originations. Customer service and claims support remain operational across all legacy policies.

Name

CIBC Insurance Agency Inc.

Legal name

CIBC Insurance Agency Inc.

Website

https://cibcinsurance.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

CIBC Insurance Agency Inc. is the wholly-owned Canadian insurance subsidiary of CIBC, distributing life, health, accident, travel, and creditor insurance products to Canadian consumers through CIBC's website, phone service, and branch network.

Ownership category

akta.pro rank

Product category

Personal Insurance

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

Keywords

• Life insurance products
• Travel insurance plans
• Creditor insurance coverage
• Accident protection plans
• Critical illness insurance

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premium Revenue: CIBC Insurance generates revenue through insurance premiums collected from policyholders. Customers pay recurring premiums for coverage including life insurance, travel insurance, and creditor insurance products. Premium structures vary by product type and coverage level, with policies offering financial protection against death, critical illness, accidents, travel emergencies, and credit-related risks.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

CIBC Insurance Agency Inc. is a wholly-owned insurance subsidiary of Canadian Imperial Bank of Commerce (CIBC) that distributes personal insurance products to Canadian consumers through CIBC's banking channels. Its portfolio spans three categories: Life, Health and Accident Insurance (term life, guaranteed acceptance life, critical illness, and accident protection); Travel Insurance (travel medical, trip cancellation/interruption, and comprehensive plans); and Creditor Insurance (CIBC Payment Protector for credit cards plus creditor coverage for mortgages, personal lines of credit, and personal loans).

Product overview

CIBC Insurance Agency Inc. offers a comprehensive portfolio of insurance products organized across three main categories: Life, Health and Accident Insurance (including Term Life, Guaranteed Acceptance Life, Critical Illness, and Accident Protection); Travel Insurance (including Travel Medical, Trip Cancellation/Interruption, and Comprehensive plans); and Creditor Insurance (including Payment Protector for Credit Cards, and creditor insurance for Mortgages, Personal Lines of Credit, and Personal Loans). The products are distributed through CIBC's banking channels and designed to integrate with CIBC's financial services ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• CIBC Payment Protector: Insurance product for CIBC Credit Cards providing protection against unexpected events

Products and services

• CIBC Term Life Insurance Term life insurance offering financial protection for loved ones with coverage for a specified term period, intended for Canadian consumers seeking death-benefit protection.
• CIBC Guaranteed Acceptance Life Insurance Life insurance with guaranteed acceptance regardless of health conditions, providing financial security without medical exams for Canadian consumers who may not qualify for traditional underwriting.
• CIBC Critical Illness Insurance Insurance providing a lump-sum payment upon diagnosis of covered critical illnesses to help manage medical costs and financial obligations, for Canadian consumers seeking protection against serious illness.
• CIBC Accident Protection Plan Accident insurance offering financial protection against unexpected injuries and related expenses for Canadian consumers seeking injury-related coverage.
• CIBC Travel Medical Insurance Plan Travel medical insurance providing emergency healthcare coverage while traveling outside the policyholder's home province, for Canadian travelers needing out-of-province/country emergency medical protection.
• CIBC Trip Cancellation & Trip Interruption Enhanced Plan Travel insurance covering trip cancellation and interruption costs due to covered reasons such as illness, weather, or other emergencies, for Canadian travelers seeking trip-disruption protection.
• CIBC Comprehensive Travel Insurance Plan Comprehensive travel insurance package combining multiple coverages including medical, cancellation, and interruption protection for Canadian travelers wanting bundled travel coverage.
• CIBC Payment Protector™ Insurance for Credit Cards Credit card payment protection insurance that helps cover credit card payments in case of disability, job loss, critical illness, or other covered events, for CIBC credit cardholders.
• Creditor Insurance for CIBC Mortgages Mortgage creditor insurance designed to protect homeowners by covering mortgage payments during covered life events such as disability, job loss, critical illness, or death.
• Creditor Insurance for CIBC Personal Lines of Credit Line of credit creditor insurance providing protection for personal credit line balances during covered events for CIBC personal line of credit holders.
• Creditor Insurance for CIBC Personal Loans Personal loan creditor insurance that helps cover loan payments in case of disability, job loss, critical illness, or other covered circumstances for CIBC personal loan borrowers.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves1 record

Expansion highlights3 records

Direct peers

• TD Insurance: TD Insurance is the insurance subsidiary of TD Bank Group (Big Five). It offers home, auto, life, health, travel, and creditor insurance to TD customers through branches, phone, and online. As a bank-affiliated insurance distributor with strong Canadian retail presence, it is the closest direct peer to CIBC Insurance.
• RBC Insurance: RBC Insurance is a direct competitor—a wholly-owned insurance subsidiary of Royal Bank of Canada (another Big Five bank). It offers life, health, travel, auto, home, and creditor insurance to RBC's banking customers through a virtually identical bank-distribution model. Most directly comparable to CIBC Insurance.
• ScotiaLife Insurance (Scotiabank): ScotiaLife and Scotia Insurance are the insurance subsidiaries of Bank of Nova Scotia (Big Five). They distribute life, health, travel, and creditor insurance to Scotiabank customers across Canada and select international markets. Structurally and product-wise, a direct peer to CIBC Insurance.
• BMO Insurance: BMO Insurance is the insurance arm of Bank of Montreal (Big Five). It offers life, critical illness, accident, travel, and creditor insurance products to BMO's banking customers. Comparable in scale, product breadth, and bank-channel distribution model to CIBC Insurance.

Emerging players

• Canada Protection Plan: Canada Protection Plan specializes in no-medical-exam life and critical illness insurance for Canadian consumers. It competes directly with CIBC's Guaranteed Acceptance Life and Critical Illness products as a focused, simplified-issue alternative.
• PolicyMe: PolicyMe is a Canadian digital life insurance broker that offers online quotes for term life, whole life, and critical illness insurance. It represents the digital-first threat to CIBC Insurance's life and health product lines, competing on price transparency and online convenience.

Broad incumbents

• Manulife Financial: Manulife is one of Canada's largest life and health insurers with a broad portfolio including individual life, group benefits, and travel insurance. While not bank-affiliated, it competes directly with CIBC Insurance's life, critical illness, and travel products and is a dominant incumbent in the Canadian retail insurance market.
• Sun Life Financial: Sun Life is a major Canadian life and health insurer offering individual life, health, dental, and travel insurance. As an established underwriter with broad product lines, it competes with CIBC Insurance for retail life and health insurance customers across Canada.
• Canada Life: Canada Life is a major Canadian insurance and wealth management company, part of the Great-West Lifeco group. It offers individual life, health, disability, and creditor insurance products, making it a broad incumbent competitor to CIBC Insurance's life and creditor lines.

Regional players

• CAA Insurance (Northbrooks): CAA Insurance offers travel, auto, and home insurance to Canadian consumers through the Canadian Automobile Association membership base. While focused on Ontario and other provincial markets, it directly competes with CIBC's travel insurance products regionally.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/cibc-life-insurance-company-limited

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 CIBC Insurance Agency Inc.