Economical Insurance wins prestigious SkillSoft award for its inspiring leadership development program

WATERLOO, ON, May 2, 2012 – The Economical Insurance Group is pleased to be honoured by SkillSoft for its proprietary leadership development program that inspires leaders at all levels of the company to enhance employee engagement and productivity.

This is the second such recognition Economical has received this year for its learning and organizational development programs.. In February 2012, Economical was ranked sixth globally by Training Magazine for excellence in workforce training and development.

Economical’s 2012 SkillSoft Perspectives Inspiring Leadership Development Award acknowledges the groundbreaking leadership development program � Leadership: People and Performance � that uses a blended approach to learning to build leadership capacity, a key plank in the company’s corporate strategy.

Since it was first rolled out in 2010, this blended leadership development program has empowered Economical’s leaders to build their people leadership skills and drive results.

An evaluation of the Leadership: People and Performance program delivered in 2011 captured in quantitative terms the positive impact on Economical’s people leaders:

  • 94% of respondents stated their ability to manage the performance of their direct reports increased as a result of participating in this program,

  • 90% of participants indicated the knowledge and skills gained will be transferable to their roles, and

  • 68% of participants are interested in participating in follow-up webinars using virtual training technology to openly discuss ongoing performance management challenges.

“This accolade clearly recognizes the effort we continue to make towards developing an award-winning blend of development approaches that use sophisticated learning technologies and tools to support learning initiatives,” said Dean Bulloch, Economical’s chief human resources officer. “The key to the success of our talented staff in learning and organizational development is their ability to create agile learning solutions that align to the strategic priorities of the organization.”

About The Economical Insurance Group

Founded in 1871, The Economical Insurance Group is one of Canada’s largest property and casualty insurers, with $1.7 billion in premiums and $4.6 billion in assets. Based in Waterloo, this Canadian-owned and operated group services the insurance needs of more than one million customers through 19 branches and service offices across the country. In 2010, Economical announced its decision to become the first federally-regulated mutual property and casualty insurance company to demutualize. Economical is currently reviewing strategic options and will submit a comprehensive demutualization proposal for mutual policyholder approval after the federal government’s development of regulations and regulatory approval.

The Economical Insurance Group’s member companies include: Economical Mutual Insurance Company® (including Western General® Farm Division), Waterloo Insurance Company®, Perth Insurance Company®, The Missisquoi Insurance Company®, Federation Insurance Company of Canada™, Family Insurance Solutions and The Mattei Companies.