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Founded Year

2014

Stage

Loan | Alive

Total Raised

$830.68M

Last Raised

$830.68M | 3 yrs ago

About Navacord

Navacord is a company that focuses on the insurance brokerage industry. The company offers a range of services including commercial insurance, benefits packages, retirement solutions, and personal insurance. Navacord primarily serves the business community, providing solutions tailored to various industries. It was founded in 2014 and is based in Toronto, Ontario.

Headquarters Location

199 Bay Street Suite 4100

Toronto, Ontario, M5L 1L5,

Canada

416-366-5243

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Expert Collections containing Navacord

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Navacord is included in 2 Expert Collections, including Fintech.

F

Fintech

12,502 items

Excludes US-based companies

C

Canadian fintech

345 items

Latest Navacord News

2024 Executive Outlook | Shawn DeSantis, Navacord

Dec 20, 2023

2024 Executive Outlook December 20, 2023   by Canadian Underwriter Staff Shawn DeSantis, president, CEO, Navacord It is clear 2024 will bring a new set of challenges, with several themes influencing the Canadian P&C insurance industry. The economic environment is evolving. Preparing our businesses and successfully managing through the implications of higher interest rates, stubborn inflation, the increased cost of capital and a looming recession will be critical in 2024. These drivers will have broad industry consequences affecting everything from the pace of broker consolidation, valuations, loss costs, market growth and the cost of talent. This will be a much different operating model for the industry. The marketplace is changing. We are evolving from a hard commercial market into more of a firm market. Capacity is coming back in specific lines of business such as D&O; however, it is still a challenge on large property placements. The challenge for underwriters and brokers will be finding those pockets of opportunity. Strong technical, sector expertise, and market scale will be an advantage in this part of the cycle. Personal insurance is heading toward a much harder market. The impact of catastrophes on personal property and the ongoing deterioration of the auto portfolio will start to drive rate and underwriting actions. Our industry must continue to be aware of the impact of its actions on clients and be mindful of regulators in this changing personal insurance market. The industry will learn more about the importance of managing and understanding climate change in 2024. Catastrophes will continue to shape our product offerings and client needs, and stress our claims capabilities. More than ever, we will need to be thoughtful about our decisions for our clients. They are expecting our industry to take a leadership position in helping through the impact of climate change on their assets. How can we prepare or do things differently? Savvy brokers must focus on becoming better at taking market share organically versus through acquisitions. This will require: better training and development of their risk advisors using technology to make operations more efficient finding a way to better leverage data for driving decisions incorporating AI into their businesses. Overall, the challenge will be preparing to do business in a more difficult operating environment. We will also start to see large-scale consolidation — both among large brokers and carriers — as scale becomes increasingly relevant.

Navacord Frequently Asked Questions (FAQ)

  • When was Navacord founded?

    Navacord was founded in 2014.

  • Where is Navacord's headquarters?

    Navacord's headquarters is located at 199 Bay Street, Toronto.

  • What is Navacord's latest funding round?

    Navacord's latest funding round is Loan.

  • How much did Navacord raise?

    Navacord raised a total of $830.68M.

  • Who are the investors of Navacord?

    Investors of Navacord include Madison Dearborn Partners and Fairfax Financial.

  • Who are Navacord's competitors?

    Competitors of Navacord include NFP and 8 more.

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