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Swiss Re Corporate Solutions' first North American collaboration with Canadian insurer, Economical Insurance, to provide access to its International Programme Administration (IPA) platform and network services

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TORONTO, March 23, 2021 /CNW/ --

  • The collaboration supports Economical Insurance's desire to grow its business and strengthen its ability to serve clients with international interests

  • Swiss Re Corporate Solutions offers insurers a solution to service their international customers using its network of over 150 countries, streamlined financial processes, knowledge, and IPA

  • IPA allows insurers and brokers to manage structured and compliant international programmes on one platform and deliver international programmes in a transparent and efficient manner

  • Insurers gain access to Swiss Re Corporate Solutions' network of over 150 local offices and network partners, and benefit from a globally standardized property policy integrated into the IPA platform

  • Swiss Re Corporate Solutions aims to advance corporate insurance, address industry inefficiencies and improve the customer experience by developing industry solutions insurers and brokers can access

Swiss Re Corporate Solutions today announced it has signed an agreement with the Canadian insurer Economical Insurance to provide its IPA platform for its first insurer in North America. Following collaborations with the global broking company Brokerslink in 2019 and insurers LocalTapiola and Württembergische Versicherung in 2020, Swiss Re Corporate Solutions is making its international programme solution more broadly available outside of Europe. The IPA platform enables users to manage and deliver structured and compliant multinational programmes from a single online platform and provides insurers access to its international network of more than 150 offices and partners.

IPA, which launched in 2019, leverages new technologies to make programme delivery more efficient and improve the customer experience. IPA also leverages a globally standardized property policy providing customers efficiency, compliance, and clarity of coverage. As a result, customers benefit from increased contract certainty and faster processes.

This collaboration with Swiss Re Corporate Solutions enables Economical Insurance to take on lead positions and provide innovative services to its new and existing clients with international interests.

"We are pleased to collaborate with Economical Insurance so they can benefit from our digital International Programme Administration platform," stated Adrian Hall, CEO Canada Swiss Re Corporate Solutions. "Swiss Re Corporate Solutions continues to move the digitalization of corporate insurance forward, underlining our ambition to simplify complex international programme delivery through technology."

"We're pleased to collaborate with Swiss Re Corporate Solutions to continue the diversification of the commercial business at Economical and provide world class solutions," said Fabian Richenberger, Executive Vice-President, Commercial Insurance, Economical. "This is a very positive opportunity for our valued broker partners to serve their Canadian customers who have business interests outside of the country."

About Swiss Re Corporate Solutions
Swiss Re Corporate Solutions provides risk transfer solutions to large and mid-sized corporations around the world. Its innovative, highly customized products and standard insurance covers help to make businesses more resilient, while its industry-leading claims service provides additional peace of mind. Swiss Re Corporate Solutions serves clients from offices worldwide and is backed by the financial strength of the Swiss Re Group. Visit corporatesolutions.swissre.com or follow us on LinkedIn and Twitter @SwissRe_CS.

Shannon O'Hara
Senior Communications Manager
Swiss Re Corporate Solutions
+1 212 317 5330

Group Media Relations
+41 43 285 71 71

About Economical Insurance
Economical Mutual Insurance Company ("Economical" or "Economical Insurance", which includes its subsidiaries where the context so requires) is a leading property and casualty insurer in Canada, with over C$2.8 billion in annual gross written premiums for the year ended December 31, 2020 and over C$6.6 billion in assets as at December 31, 2020. Economical is a Canadian-owned and operated company that services the insurance needs of more than one million customers.

Mathieu Genest, Manager, Public and Media Relations
Economical Insurance

SOURCE Swiss Re Corporate Solutions


View original content: http://www.newswire.ca/en/releases/archive/March2021/23/c5591.html