Square One history
Square One opened on January 5, 2011. It was started by a team of experienced professionals who, after years of working in the insurance industry, recognized that traditional home insurance wasn’t meeting the needs of most Canadians. Most industries – from telecommunications to electronics to banking – have evolved in the last 20 years. The home insurance industry, on the other hand, hasn’t changed since the 1970s.
Without the burden of antiquated processes and systems, Square One has developed an entirely new home insurance policy designed to meet the needs of Canadians today. The company went one step further and eliminated all unnecessary complexities built into traditional policies so that it would be both convenient and easy for people to personalize their policies. It sells and services all policies by phone and online from its head office in Vancouver, British Columbia. This allows the company to keep its overhead costs low, so it can pass on the savings to its customers.
As mentioned earlier, Square One is an insurance agency, not an insurance brokerage. Often the terms “agency” and “brokerage” are used interchangeably, but there are differences. Generally speaking, an insurance agency sells insurance on behalf of one underwriter. Insurance brokerages, on the other hand, sell insurance on behalf of many different underwriters. We like to think of agents as specialists who focus on a single product, while brokers are generalists selling many different products. Since Square One does not represent multiple underwriters, it’s not a member of any provincial insurance brokers’ associations.
For more information on Square One, visit the about us section of Square One’s website.