Economical accepting electronic signatures for new insurance policies

Another way Economical is making it easier for brokers to do business

Waterloo, ON. (Nov. 15, 2013) – Effective immediately, Economical Insurance®, Economical Select®, Western General® and Perth Insurance® are accepting electronic signatures on new business applications for personal and commercial insurance policies. An electronic signature is an equivalent substitute for obtaining a signature on a hard copy of the policy application.

“Electronic signatures have multiple benefits for our broker partners,” said Jorge Arruda, senior vice-president, sales, distribution and underwriting operations. “They save brokers time and money by eliminating the need to email, mail, print, scan or fax the application to the client, wait for the client to physically sign it and send it back before submitting the application to the insurer. This new option helps streamline brokers’ workflow processes and improves communication with their clients.”

“In commercial insurance, we’re accepting electronic signatures for individual rated commercial auto, fleet and garage policies,” said Pamela Derksen, vice-president of commercial insurance.

For more information on electronic signatures, requirements and software standards, brokers are encouraged to speak with their Economical broker solutions specialist.

About Economical Insurance

Founded in 1871, Economical Insurance is one of Canada’s leading property and casualty insurers, with $1.9 billion in annual premium volume and $5.0 billion in assets as at September 30, 2013. Based in Waterloo, this Canadian-owned and operated group services the insurance needs of more than one million customers across the country. In 2010, Economical announced its decision to become the first federally-regulated mutual property and casualty insurance company to demutualize. Economical Insurance conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Family Insurance Solutions, Federation Insurance and Economical Financial. Visit for more information.

SOURCE: Economical Insurance