Canadian Underwriter

Keyword
Economical Insurance


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‘Clock is running’ as Economical Insurance prepares for public offering: Saunders

October 26, 2017 Greg Meckbach, Associate Editor

Economical Insurance is looking to “expand its appetite and capabilities into other segments” of the market as it prepares for an initial public offering, president and chief executive officer Rowan Saunders suggested Thursday to Ontario brokers in Ottawa, while Gore

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Collaboration leads to milestone achievement to define data exchange standards between companies, brokers

August 23, 2017 by Canadian Underwriter

The long-standing objective of standardized real-time data exchange between insurance brokers and companies has taken a big step forward with Tuesday’s announcement that initial testing of the process has been successfully completed. A team of players in Canada’s p&c insurance

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Economical reports 12.8% increase in gross written premiums in Q2 2017, 8.3 point increase in combined ratio to 112.8%

August 4, 2017 by Canadian Underwriter

Economical Insurance reported a 12.8% increase in gross written premiums (GWP) in the second quarter of 2017 to $660.6 million, driven by strong personal lines growth, including contributions from Sonnet and Petline. “While we generated significant growth in gross written

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Economical launches data breach coverage for Canadian businesses

August 2, 2017 by Canadian Underwriter

Waterloo, Ont.-based Economical Insurance announced on Wednesday that it has launched EXPERT Cyber, coverage that is available to commercial policies for Canadian businesses in the event of a data breach. “Cybersecurity is a growing area of concern for businesses of

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Easy Does It

July 17, 2017 Angela Stelmakowich, Editor

Alice Keung, Economical Insurance’s chief transformation officer, says a key lesson learned from working in various sectors is the need to focus on the customer perspective.

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Insurance Brokers Association of British Columbia annual conference and trade show, June 14 to 16, 2017

June 14, 2017 by Canadian Underwriter

Whistler provided a spectacular backdrop for the 69th annual Conference & Tradeshow of the Insurance Brokers Association of B.C. Highlights included: a gala dinner capped with a performance by Juno Award-winning R&B group The Philosopher Kings; a keynote presentation on

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Economical Insurance simplifies its business with changes to legal entities

June 6, 2017 by Canadian Underwriter

Economical Insurance announced on Tuesday that it is “migrating to a simpler legal entity structure while continuing to offer a wide range of products and excellent service to broker partners and customers” as it continues its journey to become a

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

Technology advances to change insurance value chain, offers chance to reboot

May 19, 2017 by Angela Stelmakowich

Technology advances will likely affect – perhaps even eliminate – some current roles in the insurance value chain, but should be regarded as an opportunity to focus more on value-added services and getting a seat at the table where new

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsTechnology

Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter

May 8, 2017 by Canadian Underwriter

Auto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was

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Sonnet ‘first step in a multi-step journey’: Economical’s SVP and chief marketing officer

April 10, 2017 Jason Contant, Online Editor

Fully online insurance company Sonnet is the “first step in a multi-step journey” and the learnings from that process will be applied back to other parts of Economical Insurance’s business, Economical senior vice president and chief marketing officer Michael Shostak

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Broker ‘still a valuable partnership’ for Economical Insurance despite Sonnet launch: CIO

March 2, 2017 by Canadian Underwriter

Economical Insurance’s recently-launched direct writer, Sonnet, is one example of “disruptive innovation” in the Canadian industry, a speaker told insurance professionals at a recent conference, though a senior executive of Economical suggested there is a “significant segment” of the market

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Speakers weigh in on contentious topic of insurers with “broker arm interrupters”

March 1, 2017 Jason Contant, Online Editor

If an insurer can offer brokers more products, assistance and their brand is recognized by clients, “there is some value there,” Jeff Roy, CEO of Excalibur Insurance Group, suggested on Wednesday at the Insurance-Canada.ca Broker Forum, held at the Allstream