Economical Insurance Reviews | Glassdoor

Economical Insurance Reviews

Updated June 21, 2017
96 reviews

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3.9
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Economical Insurance President and CEO Rowan Saunders
Rowan Saunders
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96 Employee Reviews

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  1. "Big-data developer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook

    I worked at Economical Insurance full-time

    Pros

    They re-imagined the entire insurance experience in Canada and make it as a digital channel convenient for end user.

    Cons

    Very complex business needs as they are migrating from legacy system to new cutting edge technology in big-data and guidwire


  2. "A strong history and a bright future"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Waterloo, ON (Canada)
    Current Employee - Anonymous Employee in Waterloo, ON (Canada)
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Stability
    Attention to change management
    Looking to grow
    Positive and collaborative culture (one of the best I've seen actually)
    Compensation and benefits are awesome

    Cons

    Defaults to keeping things quiet rather than sharing plans, goals, challenges, etc with employees.

    Advice to Management

    Trust employees, trust management, trust customers to make good decisions and most of the time, they will. Without having the whole story though, people fill in the blanks themselves.

  3. "Claims Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Economical Insurance full-time

    Pros

    Friendly environment, staff. Good if you live in the Mississauga area.

    Cons

    Poor management, not knowledgeable. Had to find work to keep busy.

    Advice to Management

    Hire the right managers that can do the job.


  4. Helpful (1)

    "Great place to work for.."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Underwriter in Toronto, ON (Canada)
    Current Employee - Underwriter in Toronto, ON (Canada)
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Economical Insurance full-time (Less than a year)

    Pros

    Culture is great
    Pay is very competitive
    They are looking to add talent

    Cons

    Systems are legacy and very old. Outdated technology that could be better to increase efficiency


  5. Helpful (1)

    "NPC Underwriting"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - NPC - Underwriting in Kitchener, ON (Canada)
    Current Employee - NPC - Underwriting in Kitchener, ON (Canada)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Economical Insurance full-time (More than 10 years)

    Pros

    I believe in working for a company that believes in you. We are outgoing and involved in the community, we put on events & contribute to many local charitable events. They help build your knowledge & expertise, with promoting & supporting education & further developing your skills. There are abilities to move around the company in different positions to gain further knowledge, or find what your niche is. Also, there are always many changes within the company, constantly evolving/changing, it's never dull here!
    - Our company/management listens to our suggestions, this company is built on EVERYONE's strengths & abilities, not just the higher powers.

    Cons

    - Some people are scared or not sure with change. This can be intimidating to some.
    - A few departments are like a call-center atmosphere, and can be a bit overwhelming for some, unless you love talking on the phone.

    Economical Insurance Response

    Jun 20, 2017 – Director, Shared Services

    Thanks for sharing your experience with us. And you’re right — it’s always exciting around here! Employees often tell us our community involvement is a source of pride. Did you know that in... More


  6. "Let's Rethink Insurance, Together..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Training Project Coordinator in Waterloo, ON (Canada)
    Current Employee - Training Project Coordinator in Waterloo, ON (Canada)
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Economical Insurance full-time (More than 8 years)

    Pros

    We have fantastic programs and initiatives that are offered by Economical such as wellness initiatives, pensions and benefits programs, work/life balance offerings as well as Social events and activities provided throughout the year. Our company is also striving to be the best it can be by introducing new and innovative projects that allow for growth and development. Economical provides an ambitious, fun and rewarding environment that I am very proud to be a part of.

    Cons

    Work/Life balance not supported in all departments
    Be more transparent with change
    Management too busy to support their teams

    Advice to Management

    Keep your promises to employees. Don't say your going to do something and then not follow through on it.

    Economical Insurance Response

    Jun 20, 2017 – Director, Shared Services

    Thanks for your review. I agree, we have something special at Economical and it shows through many employee programs and company initiatives. But our real strength is our employees, so thanks for... More


  7. "Junior Actuarial Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Former Employee - Junior Actuarial Analyst in Toronto, ON (Canada)
    Former Employee - Junior Actuarial Analyst in Toronto, ON (Canada)
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Economical Insurance full-time (Less than a year)

    Pros

    Great team, great product and lots of opportunity to learn.

    Cons

    Extra hours occasionally, sometimes not much to work on and left doing nothing for a while.

    Advice to Management

    Make sure the coop always has stuff to work on. Often it's faster to teach someone to do something than to do it yourself and prevent yourself from doing something more complicated.

  8. "Team Leader"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Team Leader - Finance in Waterloo, ON (Canada)
    Current Employee - Team Leader - Finance in Waterloo, ON (Canada)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Economical Insurance full-time (More than a year)

    Pros

    - Economical invests in their employees through CIP's, in house training and seminars.
    - I have had the opportunity to be part of multiple HR lead initiatives to improve the culture at Economical, such as the Diversity and Inclusion think tank. They understand that diversity leads to success.
    - In the last two years they have made so many strides to improve employee engagement and communication through all levels of the company and have done a great job.
    - We have social committees and HR supported events that make work fun. There are recognition systems in place to recognize those who bring their best.
    - I LOVE working at Economical.

    Cons

    - Although I think flex work is in the works, it is not supported by every department.

    Economical Insurance Response

    Jun 20, 2017 – Director, Shared Services

    Great feedback. I’m glad you’ve benefitted from fun and rewarding programs at Economical, and thanks for your contributions to our Think Tank.

    Employees tell us they value our diverse and... More


  9. "Great Culture"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Economical Insurance full-time (More than 10 years)

    Pros

    A flexible work program and a culture that provides a collaborative environment for learning and development, allowing your passions to drive your results.

    Cons

    A little slow in using technology to it's full advantage. Also they need to recognize that it's better to hire the right person, regardless of physical location. 90% of roles can be remote.

    Advice to Management

    Break the concrete of 'offices' and hire for fit, not location. This provides more opportunity for staff advancement and development as well as engagement and retention.


  10. "Flex hours and work from home."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Flex hours are available within core hours. The hours are from 8:30 to 4:30pm. Work from home maybe available too.

    Cons

    Flex hours and working from home are dependent on individual departments, and manager. Not a company wide standard.

    Advice to Management

    Set rules company wide so that all can benefit from working from home when driving conditions may not allow it.


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