Economical to Set New Broker Engagement Standard with Vyne

Economical announced it will be rolling out its Vyne™ suite for brokers later this year, comprised of a new product offering, sophisticated pricing, and simplified workflow. The new suite is the culmination of strategic investments over the last two years to replace Economical’s personal lines policy administration system for brokers and build its foundation for the future.

“Given our strategic focus to drive continued growth within the broker channel, we have been committed to delivering a broker solution that is a game-changer. The launch of Vyne will set new standards of engagement and improve the way we work with our brokers in personal lines and individually rated commercial auto” – Chief Distribution Officer, Economical Insurance, Tom Reikman.

Vyne™ is a new way for brokers to do business with Economical, envisioned in collaboration with broker partners across Canada. “We will continue to evolve our Vyne offering based on broker feedback and response,” said Reikman. “We are known for the depth of our relationships with our valued broker partners and being a respectful business partner.”

In 2016, Economical Insurance with Deloitte won the Guidewire Innovation Award This is an external link for its use of the Guidewire platform in the launch of Sonnet. Built on the same Guidewire platform but designed with the specific needs of brokers in mind, Vyne™ will improve the ease of business for brokers through faster service, enabling brokers to issue a policy in minutes. Alongside streamlined workflow and customer-centric products and pricing, Vyne™ includes clear risk and coverage options, reliable rates, flexible payment options and easily understandable policy wording for customers.

Vyne™ will be launched later in 2018 in Ontario, the Atlantic region, Quebec and Alberta.

Source: Economical Insurance