Economical Insurance Group

  www.economicalinsurance.com
  www.economicalinsurance.com

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Economical Insurance Group Reviews

38 Reviews
2.4
38 Reviews
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Recommend to a friend
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Karen Gavan
10 Ratings
  1. 1 person found this helpful  

    Its unfortunately a Transformation Failure as they try to forge their plan ahead.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - All Underwriting in Branches (France)
    Former Employee - All Underwriting in Branches (France)

    I worked at Economical Insurance Group full-time (more than 5 years)

    Pros

    Good if you are just there to collect a pay check.

    Cons

    Very sad as this was one of the best work environment 5 years ago, now it feels like prison.

    Advice to ManagementAdvice

    The underwriting transformation is NOT WORKING. Upper management must take charge now and change course or there will be no company left. Massive centralization failure. The top management consultants 12 years ago said that the company MUST decentralize to survive and win in business because of its size. That was the RIGHT decision. The current re-centralization was the very peril the company was to avoid. You only get ONE chance in business to get it right. Brokers are moving profitable business away to your competitors. Your competitors are miffed by your sducidal actions. Loss of business is a loss of the equity of the company. The transformation will end up reducing mutual policy holder's equity, market share, lost of market position. Kill the Service Now system. Brokers hate it, staff hate it and they end up opening and closing cases on irrelevant things like a "thank you email" How inefficient. Even when your mother wants to call you at work for lunch it goes through a central phone labyrinth. LISTEN to your 1. Customers (brokers) 2. Your employees. If BOTH say it won't work, IT WONT WORK, not for relationship transactions other than commodity.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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