Economical Insurance

Overview

Economical Insurance is a prominent Canadian property and casualty insurance company, originally founded in 1871 in Kitchener, Ontario to support local farmers. Over the decades, it has evolved into one of the country's leading insurers and is now part of Definity Financial Corporation.

Offering a broad array of insurance solutions—including auto, property, commercial, farm, and accident and illness insurance—the company serves a wide customer base across Canada. Insurance policies are distributed through a network of more than 27,000 licensed brokers nationwide. In 2018, Economical launched Vyne™, a digital platform streamlining workflow and policy issuance for brokers.

Basic Information

Contact Details

• Phone: +1 519-570-8200
• Website: economical.com
• LinkedIn: linkedin.com/company/economical-insurance

Key Focus Areas & Initiatives

• Digital transformation of insurance services
• Streamlined policy administration and claims processing
• Broker partnerships and workflow enablement
• Property and casualty insurance solutions
• Customer-centric digital platforms
• Real-time insurance analytics and reporting
• Automation of underwriting and policy management

Technologies Used

• ACL
• Amazon Simple Storage Service (S3)
• Atlassian Cloud
• Barracuda Email Security Service
• CSS
• CallMiner Eureka
• GitHub Hosting
• Google AdWords Conversion
• Google Cloud
• GraphQL
• Guidewire
• Javascript
• Lighthouse 360
• Microsoft Excel
• Microsoft PowerPoint
• Microsoft Teams Rooms
• Mode
• Office365
• Outlook
• Route 53
• Salesforce
• Sendgrid
• ServiceNow
• SharePoint
• Siteimprove
• Slack
• Visio
• jQuery

Buyer Teams to Target

Digital Transformation & Technology

• Chief Information Officer
• IT Director
• Enterprise Architect
• IT Security Manager
• DevOps Engineer
• Cloud Solutions Architect

Insurance Product & Underwriting

• VP of Product Development
• Product Manager, Insurance Solutions
• Underwriting Manager
• Claims Innovation Lead
• Senior Underwriter
• Policy Administration Lead

Sales & Broker Relationships

• Director of Broker Partnerships
• National Account Manager
• Sales Enablement Manager
• Business Development Lead
• Broker Channel Manager
• Field Sales Director

Analytics & Operations

• Director of Operations
• Head of Data Science
• Business Analyst
• Data Analytics Manager
• Process Optimization Lead
• Operations Manager

What They Buy

• Insurance policy administration platforms
• Customer relationship management (CRM) software
• Cloud hosting and storage services
• Business process automation tools
• Fraud detection and risk analytics solutions
• Digital customer engagement platforms
• Claims management and processing systems

Signals to Watch

• 🤝 Formation of new strategic broker partnerships
• 🚀 Launch of new digital insurance products or platforms
• 🧑‍💻 Implementation of advanced analytics or AI tools
• 📆 Posting of IT, product, or analytics job openings
• 🔒 Focus on cybersecurity initiatives or compliance upgrades
• 📲 Increased investment in mobile or self-serve customer experiences