Economical Insurance Reviews | Glassdoor.ca

Economical Insurance Reviews

Updated 30 Sep 2019

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3.2
StarStarStarStarStar
Rating TrendsRating Trends
47%
Recommend to a Friend
34%
Approve of CEO
Economical Insurance CEO Rowan Saunders
Rowan Saunders
26 Ratings
Pros
Cons
  • "Absolutely no work life balance(in 7 reviews)

  • "Lack of ownership, upper management not investing in the future of IT, lots of dead weight, lack of recognition, poor middle management in general(in 6 reviews)

More Pros and Cons
  1. Featured Review

    "Great workplace"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Executive Administrative Assistant 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Economical Insurance full-time for less than a year

    Pros

    Flex hours, competitive pay, great people, exciting times ahead.

    Cons

    Some of the programs used need to be upgraded to better technology.

    Economical Insurance2019-07-17

    Economical Insurance Response

    September 9, 2019Sr HR communication Specialist

    Thanks for taking time to provide a review. We're glad you've found many benefits to working with us, and we look forward to the exciting journey ahead with you on our team.

  2. "Meh"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Personal Lines Underwriter 
    Recommends
    Positive Outlook
    Disapproves of CEO

    I have been working at Economical Insurance full-time for more than 3 years

    Pros

    lots of movement gives you new opportunity

    Cons

    lots of movement leave ppl scared and worried

    Economical Insurance2019-09-30
  3. "Good Job"

    StarStarStarStarStar
    Current Employee - Claims Assistant 

    I have been working at Economical Insurance full-time

    Pros

    Interesting work, some good people, good hours.

    Cons

    Low end of pay for insurance company, favouritism.

    Economical Insurance2019-08-06
  4. "Good company with many offices"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Underwriter 
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Economical Insurance full-time for more than 8 years

    Pros

    The company has many offices

    Cons

    No room for growth

    Advice to Management

    Follow the rules that apply to the employees.

    Economical Insurance2019-08-17
  5. Helpful (1)

    "2017: Wonderful experience; great team. 2018, however, began with departure of co. director causing loss of morale."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Csh in Toronto, ON
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Economical Insurance full-time for more than a year

    Pros

    Good benefits and location. Clean office.

    Cons

    New direction is call-center focused. Culture of fear.

    Advice to Management

    Get a solid and cohesive focus in management.

    Economical Insurance2019-07-30
  6. Helpful (3)

    "High work load, lots of adjuster burnout."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Claims Adjuster 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Economical Insurance full-time for more than a year

    Pros

    - knowledgable team leads - decent benefits - good advancement opportunities

    Cons

    - the scary high turnover rate - management does not seem to listen to adjusters - lack of parity in pay - the high workload for claim adjusters - no accountability in file handling due to live queues

    Economical Insurance2019-07-22
  7. Helpful (1)

    "Do more with Less"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Underwriter in Toronto, ON
    Neutral Outlook

    I worked at Economical Insurance full-time for more than 5 years

    Pros

    Great People to work with Decent Benefits Causal dress code

    Cons

    Technology was lacking Communication from Upper management to Front Line employees was not always clear The company wants more from employees and not willing to compensate them accordingly.

    Advice to Management

    Advanced notice of changes before launching

    Economical Insurance2019-07-16
  8. Helpful (3)

    "Poor management"

    StarStarStarStarStar
    Current Employee - Customer Service Representative 

    I have been working at Economical Insurance full-time

    Pros

    Fast paced work environment, decent salary

    Cons

    Company keeps changing new practices and policies,they expect a lot from their employees, sometimes they setup unrealistic goals. Management is cruel Lack of growth opportunities. no work life balance,poor culture

    Economical Insurance2019-06-26
  9. Helpful (2)

    "Its a great learning journey"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Auto Claims Adjuster in Mississauga, ON
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Economical Insurance full-time for more than a year

    Pros

    The pay is great and the co-workers are very helpful and nice. The group benefits are great.

    Cons

    The management! they micro manage you on everything. The claim process are so complicated and they use dinosaur technology. Your immediate team lead will make you look so bad infront of management. No opportunity to grow. Almost everyone at the company has a first written letter given to them by the 4rth month. If they like you, your opinion matters the most if they hate you. They will find every possible thing to... make you look bad. Absolutely no work life balance. If you enjoy working the 9-5 and then go home and work some more to catch up great! There is no open door policy. Have reached out to HR on many different occasions however the HR always sides with management and no real action is taken. Co-workers are pushed to focus time working than interact with eachother. No employee engagememt. No event overall vrry boring and robotic

    Show More

    Advice to Management

    Focus on listening to your employees. Learn to interact with them on a different level. UPDATE YOUR SYSTEMS!

    Economical Insurance2019-06-25
  10. Helpful (3)

    "Terrible Employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Adjuster in Waterloo, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Economical Insurance full-time for more than 5 years

    Pros

    Although the perks are good, the rest is not

    Cons

    They continually take things from the employees (bonus, incentive, etc.) to ensure the executive board still gets their yearly payout, that is disgustingly high. Even if one of them forfeited their share, the employees would not suffer. Team leads become friends with workers and favouritism is quite rampant through out Don’t want to worry about job security? Look elsewhere because Eco has none of that

    Advice to Management

    I think a revamp on the management and exec teams is a must to ensure the employee turnover rate decreases somewhere in the future. Especially before demutualization takes effect.

    Economical Insurance2019-06-26
Found 164 reviews