Executive Outlook 2020 | Rowan Saunders, Economical

Rowan Saunders, President, CEO, Economical Insurance

Insurers across Canada are exploring new ways to embrace digital and improve customer experience in the middle of a hard market. This necessary transformation is the most important issue we face. Within the context of an accelerated pace of change, Economical is focused on building an industry-leading and highly adaptable business through talent, technology, and innovation in the way we work. We are rethinking insurance.

Moving into 2020, Economical continues to transform its business to compete effectively with strong digital capabilities, sophisticated pricing models, modern tools, insightful metrics, as well as deep expertise and new skills to meet customer expectations.

During the last couple of years, we’ve transformed our personal and commercial lines operations while delivering exceptional customer and broker experiences. In 2020, we’re committed to transforming our claims operations to extend business efficiency improvements and best-in-class practices, benefiting our customers.

Many challenges face our industry, such as increasing weather events, persistent lower investment returns and significant auto cost inflation, placing additional pressures on insurers and brokers. This challenging climate is expected to continue, so we must work as an industry to find a balance between profitability and serving our customers. Our ongoing advancements to improve service levels to both brokers and customers will keep us ahead of the curve in a hard market.

Our customers are relying on us to deliver relevant coverage and a reliable experience. At the same time, our broker partners count on us to provide strong relationships, deep expertise, and efficient workflows. As Economical leans firmly into our future as a public company, our business remains determined to provide an increasingly seamless experience for customers and brokers.