Multi Risk Insurance Brokers and Financial Group

What Multi Risk Insurance Brokers and Financial Group does

Multi Risk Insurance Brokers and Financial Group Inc. is an independent insurance brokerage headquartered in Scarborough (Toronto), Ontario, Canada, founded in 2010 and operating across the Greater Toronto Area. The firm distributes a broad portfolio of insurance and financial products through partnerships with more than 20 carriers, serving individual consumers, families, small and medium businesses, and visitors or immigrants to Canada. Its product catalog spans personal lines (auto, home, condo, tenants, high-value home), commercial lines (auto dealers, commercial auto, property, contractors, cyber, electricians, errors and omissions, hospitality, liability, manufacturers, professional liability, repair shop, retail, wholesalers), travel and health (super visa, visitors to Canada, travel, health insurance solutions), and life and financial planning (critical illness, disability, life insurance, financial planning). Supporting services include claims assistance, complimentary account reviews, and policy change handling.

The firm's technology stack is a standard web-based brokerage platform integrated with Applied Systems webrater to enable instant online quoting across auto, property, and commercial lines. The customer experience combines digital self-service (website quote forms, educational blog content) with high-touch sales via phone and in-person consultations at the Toronto office. Revenue is generated entirely through commissions paid by insurance carriers, ranging from 0-20% of annual premiums on new business and renewals, supplemented by contingent (profit) commissions tied to growth, profitability, volume, retention, and service performance.

Multi Risk is privately held with no institutional investment, parent company, or external ownership; the firm is independently owned and operated, with Bhupender Singh (B.Com., CFP, CIP, CRM) serving as President and Ben Singh as Privacy Officer. The firm has no subsidiaries, no disclosed M&A activity, no funding rounds, and no patents or trademarks, operating as a focused regional brokerage with multi-line breadth but geographically concentrated in southern Ontario.

Name

Multi Risk Insurance Brokers and Financial Group

Legal name

Multi Risk Insurance Brokers and Financial Group Inc.

Website

https://www.multirisk.ca

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Multi Risk Insurance Brokers and Financial Group Inc. is an independent insurance brokerage in Toronto, Ontario, serving individuals, families, and small-to-medium businesses across the Greater Toronto Area with personal, commercial, life, health, and travel insurance distributed through over 20 carrier partnerships.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210), 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

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

Keywords

• Independent insurance brokerage
• Commercial insurance solutions
• Personal insurance coverage
• Life and financial planning
• Visitor and travel insurance

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: Multi Risk Insurance Brokers operates as an independent insurance broker earning commissions from insurance carriers. Commission rates vary by insurer and range from 0-20% of annual premiums for both new business and renewals. The company also earns contingent (profit) commissions from certain insurers based on growth, profitability, volume, retention, and service performance.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Multi Risk Insurance Brokers and Financial Group is an independent insurance brokerage that places personal, commercial, life, health, and travel insurance coverage on behalf of clients across the Greater Toronto Area. The firm represents more than 20 insurance carriers and earns commissions on policies placed, supplementing placement with claims assistance, free account reviews, and policy change services. It also offers financial planning solutions including RRSP, RESP, TFSA, and retirement planning delivered by Certified Financial Planners.

Product overview

Multi Risk Insurance Brokers and Financial Group is an independent insurance brokerage firm offering a comprehensive portfolio of insurance and financial products. The company operates a multi-category product structure organized into Personal Insurance (Auto, Condo, High Value Home, Home, Tenants), Commercial Insurance (Auto Dealers, Commercial Auto, Property, Contractors, Cyber, Electricians, E&O, Hospitality including Liquor Liability and Restaurant, Liability, Manufacturers, Professional Liability, Repair Shop, Retail, Wholesalers), Super Visa & Health (Super Visa, Visitors to Canada, Travel, Health Insurance Solutions), and Life & Financial (Critical Illness, Disability, Financial Planning, Life Insurance). The firm also provides supporting services including Claims, Free Account Review, and Policy Changes. As an independent broker, the company represents multiple insurance carriers to provide tailored risk management solutions to customers in the Greater Toronto Area.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance

Quantifiable outcome

• Successfully handled thousands of disability insurance claims

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

21 partnerships are on record, tiered minor and core.

• AM Fredericks Underwriting ManagementminorChannel Partner/ Reseller/ DistributorInsurance managing general agent providing specialized insurance products. Commission range: 0-15%.
• Chubb Group of Insurance CompaniescoreChannel Partner/ Reseller/ DistributorMajor global insurance carrier. Commission range: 0-20%. Services: 1-800-372-4822.
• CreechurchminorChannel Partner/ Reseller/ DistributorInsurance company. Commission range: 0-15%. Claims: 800-235-8784.
• Excess Underwriting CorporationminorChannel Partner/ Reseller/ DistributorExcess and surplus lines insurance. Commission range: 0-15%. Services: (905) 479-8787.
• Jevco InsurancecoreChannel Partner/ Reseller/ DistributorSpecialty insurance provider. Commission range: 0-12.5%. Claims: 1-866-864-1112.
• Pal InsuranceminorChannel Partner/ Reseller/ DistributorInsurance company. Commission range: 0-10%. Claims: 1-800-265-8098.
• RBC Life InsurancecoreChannel Partner/ Reseller/ DistributorMajor Canadian financial institution's life insurance division.
• SecuriglobeminorChannel Partner/ Reseller/ DistributorInsurance provider, likely specializing in travel or visitor insurance.
• Trans Canada Insurance Marketing Inc.minorChannel Partner/ Reseller/ DistributorInsurance marketing company. Commission range: varies. Claims: 1-844-849-5099.
• Sun Life FinancialcoreChannel Partner/ Reseller/ DistributorMajor Canadian insurance and financial services company.
• April CanadaminorChannel Partner/ Reseller/ DistributorInsurance company. Commission range: varies. Claims: 1-845-745-1010.
• Burns & WilcoxminorChannel Partner/ Reseller/ DistributorManaging general agent. Commission range: varies. Claims: 248-932-9000.
• Core InsuranceminorChannel Partner/ Reseller/ DistributorInsurance company. Commission range: varies. Services: 1-877-214-2969.
• Economical Insurance CompanycoreChannel Partner/ Reseller/ DistributorMajor Canadian insurance carrier. Commission range: 0-20%. Claims: 1-800-607-2424.
• Intact Insurance Company of CanadacoreChannel Partner/ Reseller/ DistributorLargest Canadian property and casualty insurer. Commission range: 0-20%. Claims: 1-866-464-2424.
• Manulife FinancialcoreChannel Partner/ Reseller/ DistributorMajor Canadian financial services and insurance company.
• Premier Group of CompaniesminorChannel Partner/ Reseller/ DistributorInsurance group. Commission range: 0-15%. Claims: 1-800-235-8784.
• RSA – Royal & SunalliancecoreChannel Partner/ Reseller/ DistributorMajor international insurance group. Commission range: 0-20%. Claims: 800-319-9993.
• South Western GroupminorChannel Partner/ Reseller/ DistributorInsurance group. Commission range: 0-15%. Claims: 1-866-794-5463.
• Totten Group InsuranceminorChannel Partner/ Reseller/ DistributorInsurance company. Commission range: 0-15%. Claims: 877-896-0015.
• UNICAminorChannel Partner/ Reseller/ DistributorInsurance company. Commission range: 0-20%. Claims: 1-866-864-1113.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• BrokerLink: One of Canada's largest independent insurance brokerages, offering personal, commercial, life, and specialty insurance through a multi-carrier model across multiple provinces including Ontario. Directly comparable to Multi Risk in independent multi-line brokerage positioning, with broader geographic scale.
• Westland Insurance Group: Large Canadian independent brokerage offering personal, commercial, and specialty lines through multiple carrier relationships. Comparable to Multi Risk in multi-carrier independent model with strong presence in Ontario and Western Canada.
• Morison Insurance Brokers: Ontario-based independent insurance brokerage offering personal, commercial, life, and specialty insurance across multiple carriers. Closely comparable regional peer to Multi Risk with similar GTA/Ontario footprint and multi-line approach.
• Lloyd Sadd Insurance Brokers: Western Canadian independent brokerage with expansion into Ontario, offering personal, commercial, and specialty lines. Comparable in independent multi-carrier brokerage model and SMB customer focus, though geographically complementary.

Broad incumbents

• Hub International: Major North American insurance brokerage with substantial Canadian operations, including commercial and specialty lines. Serves as a broader incumbent in the multi-line brokerage space with significantly larger scale and commercial focus than Multi Risk.
• Intact Financial Corporation: Canada's largest property and casualty insurer and a Core carrier partner of Multi Risk. Represents both an upstream supplier and a broad incumbent competitor via its direct-to-consumer brands (belairdirect, Sonnet) that compete with broker distribution.
• Economical Insurance (Definity Financial): Major Canadian P&C insurer (now part of Definity Financial) and Core carrier partner of Multi Risk. A broad incumbent that supplies brokerage partners but also competes for direct customer relationships through its own channels.

Emerging players

• Lane's Insurance: Canadian digital-first insurance brokerage with strong Ontario presence, offering online quoting for auto, home, and commercial lines. Comparable to Multi Risk in brokerage role but differentiated by technology-led customer experience and digital-first delivery.
• Surex Direct: Canadian online insurance brokerage offering comparison-based personal insurance quoting across multiple carriers. Comparable to Multi Risk as an alternative to traditional in-person brokerage, though with a primarily digital model.

Others

• Kanetix Ltd. Canadian insurance comparison platform connecting consumers with multiple carriers and brokers. Not a direct peer but represents a key disintermediation vector for traditional brokerages like Multi Risk, particularly in personal auto and home.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MultiriskInsur
• Facebookfacebook.com/Multi-Risk-Insurance-Brokers-Financial-Group-Inc-100076272696776
• LinkedInlinkedin.com/company/multi-risk-insurance-brokers-and-financial-group-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Multi Risk Insurance Brokers and Financial Group