Are broker referral programs becoming more important?

Referral programs are always a key driver of broker business, but they’re viewed more favourably this year, say respondents to Canadian Underwriter’s 2026 National Broker Survey.

For 2026, 56% of respondents identify referral programs as a primary sales and marketing activity. That’s up from 50% last year, 54% in 2024, 52% in 2023 and 45% in 2022.

“My most effective tool has been client referrals,” says a verbatim reply by a newer broker at a smaller firm. “By providing clear advice, fast service and ongoing support, clients feel confident recommending me to others. This has been effective because referrals come with built-in trust, and it has led to steady growth in my client base without heavy marketing costs.”

Says another respondent: “Customer referrals – word of mouth brings in the best kind of customers.” Several other verbatim respondents note good service is the best generator of quality referrals.

Men responding to the 2026 survey (59%) are a bit more sold on the value of the referrals than women (52%). And those at mid-career (61%) with between 16 and 30 years on the job are most likely to favour referrals, as are those at small firms (50%), compared with their peers.

Brokers are less convinced about the value of traditional advertising, with 34% of 2026 survey respondents saying the tactic works for their firms, compared to 35% last year. Women (42%) are more likely to favour advertising than men (25%) and support for the tactic hovers within the 30% band for all firm sizes and age groups.

“We find public engagement by sponsoring community events gives us more visibility than traditional advertising,” says a woman respondent who works at a large firm with more than 100 employees and who is newer to the business.

Related: Brokers see rapid digital change as a major challenge for the channel

Another respondent who’s also newer to the brokerage and works at a mid-sized firm, stresses the value of step-by-step relationship building. “Traditional correspondence via phone and email [and] being accessible and quick to respond with competency and proving relatable to the client are the best tools,” he tells the survey.

“AI and software are an imitation and have their use, but are not the solution to maintain the broker-client relationship and will ultimately lead to high client turnover [and] shorter customer lifespan and subsequently higher premiums.”

Webinars, whitepapers, blogs and other customer education tools come in third at 32% in 2026, up from 29% last year. A broker working at a large firm who’s newer to the business says customer education tools support retention, reduce “complaints or surprises at claim time,” and drive better coverage decisions and trust.

“Educating our customers reinforces us as the ‘trusted advisor’ and directly impacts long-term business health,” he tells the survey.

Rounding out the Top 4, 28% of respondents say public relations and media outreach are important marketing tactics. That’s down from 32% in both 2025 and 2024, and 34% in 2023.

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And, apparently, some firms are so successful that they don’t need to market.

“Our brokerage owner does not want to grow our business,” says a mid-career broker at a smaller firm. “He feels we can barely keep up with the clients we have, so does not invest in attracting new clients.”

Canadian Underwriter’s 2026 National Broker Survey heard from 169 brokers, with 32 identifying as brokerage owners or principals. The survey was conducted in February 2026, with support from Sovereign Insurance.