Other insurance related activities
This industry comprises establishments, not classified to any other industry, primarily engaged in providing, on a contract or fee basis, services related to providing insurance, such as claims administration and adjusting. The staff of these establishments are not employed by the insurance carriers they represent. — Statistics Canada, NAICS 2022A
- Establishments · CanadaA
- 1,727
- Under 10 employeesA
- 82%
- Establishments · USA
- 15,282
- Employment · USA
- 514,635
- Payroll · USA
- $39.6B
Size and shape
How many businesses there are and how small they are. Fragmentation is the first thing an entrant — or anyone selling software into this industry — needs to know, and it is one of the few things that is actually measured.
Canadian establishments by number of employeesA
Of 1,727 Canadian establishments with employees, 82% have fewer than ten — an industry of very small operators.
Where they areA
Largest four provinces by establishment count. Establishments with employees only — sole operators with no payroll are not in this table, so in trades and personal services the true number of businesses is higher.
Measured, not forecast: the share of US establishments opening in one year that were still active later. It counts good operators and bad ones together, which is exactly why it is the honest answer to “what are the odds”. It is for the whole sector rather than this market, and the ten-year figure comes from an older cohort because no younger one has reached ten years.
How businesses here compete
The structural profile of subsector 524, which every industry beneath it inherits. This is analyst judgment from how the subsector is organised — not research into this industry, and not a measurement.
Carrying risk needs regulatory capital. Brokerage is the enterable side — a recurring-commission book that is bought and sold at known multiples and is being rolled up by private equity.
- Who sets the price
- Carriers set rates and commissions; regulators approve.
- The software it runs on
- Carrier core systems; broker management systems for agencies.
Market screens and studies
Market-entry records filed along this branch of the hierarchy. A record at or beneath this code is about this industry; one above it is about something wider that contains it.
Screened one level up. Nothing is filed at this exact code; the screen for 5242 Agencies, brokerages and other insurance related activities covers it.
The pain is real and documented; the customer base is shrinking and the transaction volume driving the wedge is declining 5.1% year over year. A hated incumbent is not the same as a vulnerable one.
Brokerage books are bought by consolidators using cheap acquisition debt and carrier contingent commissions an individual buyer does not earn, which sets a price a first-time acquirer cannot match without overpaying. Carrier appointments and provincial licensing gate entry, and the retiring-broker succession wave that makes this look accessible is the same wave the consolidators are systematically working. The agency management software at this code is studied separately.
Software serving this industry
The vertical software markets filed along the same branch — who sells to these businesses and who they would have to displace — and then the generic categories every business buys whatever it does.
No vertical software market has been recorded along this branch. What the subsector typically runs on: Carrier core systems; broker management systems for agencies.
And what every business buys · 25 generic categories
Sold to every industry rather than this one, so they are filed against the software industry's own code. The same few vendors recur across most of them.
Who works here
The occupations employed in Finance and insurance, most concentrated in it first. The share is measured against the whole sector, not this industry — the published cross-tabulation stops there.
Concentrated in this sectorA
These jobs are mostly done here. An operator in this industry is competing for them against others in the same industry, not against the whole economy.
And the jobs every business has
Found across at least fourteen of the twenty sectors. But note the shape of this industry: 82% of establishments have fewer than ten employees, and at that size most of these roles are one person wearing several hats, or bought in from outside.
Inside this industry
2 rows sit directly beneath 52429. Each has a base report of its own.
| Code | Industry | Establishments · CA | What is known |
|---|---|---|---|
| 524291 | Claims adjusters | 588 | screened at 5242 |
| 524299 | All other insurance related activities | 1,139 | screened at 5242 |
Alongside it, under 5242 Agencies, brokerages and other insurance related activities
| Code | Industry | Establishments · CA | What is known |
|---|---|---|---|
| 52421 | Insurance agencies and brokerages | 8,339 | Insurance Agency Management SystemsInsurance Brokerage Book Acquisition |