Insurance companies make impact on PROFIT 500 revenue growth ranking

Published: September 15, 2017

Updated: July 24, 2018

Author: Luke Jones

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While many casual observers may see the insurance as living in the past and unable to meet employee demands, that is not necessarily the case. Yes, engaging young professionals is an ongoing challenge, but many companies can offer those professionals a fantastic base for their career. The latest PROFIT 500 list highlights the exciting growth of the insurance industry.

Bouyed by a strong economy, the 29th annual ranking of Canada’s Fastest-Growing Companies names 14 insurance-based firms in the list. Released by CanadianBusiness.com, the ranking shows that the 14 fastest-growing insurance-related companies have increased revenue 236% on average over the last five years.

Advisor Websites was the highest ranked insurance company in PROFIT 500. The Vancouver-based developer of regulatory-complaint websites is ranked 146th overall and has increased revenue 480% since 2011. In other words, the firm has grown revenue nearly five times in half a decade.

The next highest insurance-related company is Ottawa based Iceberg Networks, which offers risk management software. The company secured a 427% revenue growth over five years, landing at 161st on the list.  In a press release, the company spoke about its position in the ranking:

“We have one of the largest teams of [governance, risk-management and compliance] programs professionals in this space in North America, including a lot of recent graduates from Canadian universities,” said Iceberg CEO Ken McPherson.

“The commitment and work they bring every day to help our customers is why we’re been able to help our clients find success, and continue to grow as a company.”