Economical Insurance
Work wellbeing score is 67 out of 100
3.4 out of 5 stars.
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Economical Insurance Employee Reviews

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Location
Canada144 reviews

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3.5Work-life balance

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Featured review

Economical Insurance selected this as a representative review
Good co to work with and learn.Loads of opportunities for growth and perform. Also no micro managing which is an advantage. Management listens to their employees
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Productive workplace - very well managed

Very well managed and organized company - division of duties well defined as between litigation law clerk/paralegal and legal administrative assistant

Pros

Well-managed

Cons

A bit too hands on at times
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Insights into Economical Insurance

Based on 31 survey responses
What people like
  • Inclusive work environment
  • Feeling of personal appreciation
  • Time and location flexibility
Areas for improvement
  • Energizing work tasks
  • General feeling of work happiness

nice environment

fun place to work and helpful colleagues. great environment. nice workplace. many opportunity. full of room to grow. fun fun fun. nothing else than fun
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Don't join claims

The new processes and push for better KPIs have taken a toll on a lot of people. Lots of people are getting fired or losing their morale and leaving the company. The workload for an adjuster is not manageable but they keep adding more and more work. Not to mention, they started micromanaging employees more. Fed up with this role and it's physically making me sick. Don't know if I can hold on much longer. Anyone thinking about joining claims, trust me, do yourself a favour and don't. It's not worth the money.
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Decent company

Great for entry level or anyone starting out in insurance. Good benefits and Salary. The people are helpful and vFriendly. ITraining is provided too. Make sure to ask questions and learn the product
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disappointment and lack of recognition

What is the best part of working at the company?The yearly bonus based on performanceWhat is the most stressful part about working at the company?Everything else, one never does enough and not always noticed by managementWhat is the work environment and culture like at the company?office environment, pretty quiet and too stern and serious as opposed to when I first startedWhat is a typical day like for you at the company?log in, shut up and do your job
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Good company

Used to work there briefly, for me it was not a pleasant experience due to some personal issue. The people were friendly, however ,there's not much growing room
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Intensely stressful, ever increasing workload with poor training

Trainers are amazing- training is NOT suitable to prepare candidates for actual job itself. Whole training program needs to be recalibrated. Coworkers are fantastic, but highly stressed and overwhelmed by their own perpetual and ever increasing workload. A lot of climbing/ bull****ing required to advance.

Pros

Salary is good to start

Cons

Very stressful, poor training, no preparation for actual job
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Official response from Economical Insurance

19 May 2023
Thank you for taking the time to leave your review. We appreciate this type of feedback to help us improve our training program. We will take this feedback to the appropriate teams and if you would like to provide more details, feel free to share it with our HR Shared Services team at hrsharedservices@definity.com. Best of luck on your career journey.

Workload is insane

When I first started, it was okay as they slowly ease you in to the job. But then things went downhill fast. The amount of work we are expected to do is simply not manageable. Everyone is constantly behind on work and the managers just keep pushing you. Also, I've had multiple managers within the course of a a year and we can't even adjust to one manager before things change again. Pay is good but the workload is driving out a lot people out from the company.

Pros

Pay

Cons

Workload, Management
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Official response from Economical Insurance

17 March 2023
Thank you for your review and submitting your feedback. It’s great to hear that you feel your pay is good. We strive to provide competitive total compensation packages to ensure our employees are paid fairly for the work they do. We’re sorry to hear that you are experiencing a high workload and constant change in leaders. We will do our best to address these issues to ensure you receive the support you need. As such, we will bring this feedback to our Senior Leadership Team. We appreciate this feedback to continue to improve. Feel free to provide any more comments or questions to our Human Resources team at HRSharedServices@definity.com.

Great place to work

Good and understanding leaders. Salary needs to be increased and competitive though. Good work life balance and opportunity in other aspects of the business is provided.
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Do not recommend

Working at definity/economical insurance has been a great disappointment. The structure of the workplace and volume of the workload is a lot different than what they alluded to. The workload is unmanageable and expectations are extremely high. Considering they monitor all call outs, notes in file and time logged in they should be aware that the workload is impossible to handle. We have been short staffed since I started and they continue to add more work to already struggling staff. Upper management needs to re-evaluate their processes and hire a lot more people. This is the most stressful and worse job I have ever had.

Pros

None

Cons

High workload
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Official response from Economical Insurance

3 February 2023
Thank you for your review. We are sorry to hear about your experience with your workload. We are always looking to improve and appreciate the points you’ve outlined. We will be bringing your feedback to our senior leadership team to take under advisement. We wish you well in your future endeavors.

complete letdown

Sigh. Where do I begin. Training and first few weeks of the job were promising and hopeful. Then here come the cracks. Started as a level 1 auto adjuster. 3 claims per day. Then management decided to turn it to 8 on a random Tuesday afternoon. Why is that you ask? Growing company and a high turnover due to the job's stresses. Even with them constantly hiring it is never enough. On the backend there are a million things you are tasked with. And if one of those things goes wrong you are to blame. Management keeps stressing on these audits. Garbage. There's a One Note they want you to follow word for word otherwise you get docked and fail these audits. Complete waste of time. The straw that broke the camel's back for me though was the complete disregard by management, and especially HR when I had a family emergency to tend to back in my home country and had to go on a sudden leave of absence. No support by any of these people. And I find that completely funny due to the line of work we are in. Getting people back on their feet following a loss. It's okay to be yelled at by customers on recorded calls, because they bring in the business. But when it comes time an employee needs help due to a loss of a loved one, god forbid. I asked for some extension for my leave of absence, no extra pay even, yet that was so difficult to grant. What happened to charity begins at home? I have jumped through hoops to keep your customers happy. Thank you Economical. You have been good for nothing. 2 years down the drain.

Pros

Definity day

Cons

stressful job, No support from hr
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Official response from Economical Insurance

3 February 2023
We’re sorry to hear about the loss of your loved one. Thank you for taking the time to submit your review. We are sorry to hear about your experience at Definity. We appreciate the points you have made regarding your workload and experience with management. We will take them under advisement. We wish you health and happiness in your future.

3 claims becomes 8 claims quickly

CDS system is dated. There have been promises of GuideWire the last 2 years but still nothing... extra clerical work due to how they want your notes structured for the audits team leaders have to do. Takes up too much extra time. Could be avoided if they just updated the system already. For the growth of the company you would expect them to hire more so adjusters aren't overloaded with work yet nothing is being done. Good luck trying to get your vehicle repaired since we're short on appraisers too. But since you're the face of the company and the person the insured knows everything is automatically your fault.
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Great culture but management needs work

A larger insurer with a small company culture. Everyone knows everyone and has great conversations. Pay is competitive and benefits are great, paid OT if needed to keep up with pending. But management isn't prepared for the current work shortage due to stress or medical issues which leads to you taking on multiple pendings. A team was implemented to try to help, but they're not ready to take on the work, so what's the point?
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Official response from Economical Insurance

4 January 2023
Thank you for the feedback. We are glad to hear that you are enjoying working with your coworkers. We appreciate the feedback regarding your workload and encourage you to work with your leader to find a solution to make your work more manageable. We will also take this feedback to our senior leadership team.

Difficult job, good pay

It's customer service job, and the customers are often recently traumatized or hurt which makes the interactions delicate. The company is very focused on being supportive and helpful toward the clients and I got a strong feeling of satisfaction helping clients recover from losses.
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Official response from Economical Insurance

13 December 2022
Thank you for your review. We are happy to have had you on the Claims team to help our customers that need us the most. It’s fantastic that you obtained a strong feeling of satisfaction from helping those in need. Our purpose is to build a better world by helping our clients, communities, and employees to adapt and thrive. We wish you all the best in your future endeavors.

Over worked - Under paid

A typical day will be answering claim calls, resolving customer issue, explaining and allocating resolution. Following up on previous claims, making payments in timely fashion for completed work. Working on online claims in 24 hrs. Replying emails and voicemails. Need to adjust to ever-changing working environment. Everyone is busy so help is scarce.
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Official response from Economical Insurance

7 November 2022
Thank you for taking the time to share your experience with us. Working in Claims, you can have direct impact on a customer’s life and given recent times, our teams have had to help many customers. We’re disappointed to hear you feel help is scarce. We will share your comments internally with our leadership team as we are constantly looking at opportunities to improve. We encourage all employees to speak with their leader with any challenges they face in their roles to better support them.

Fun and friendly work environment

Flex hours were awesome. Friendly environment and team. Often there were team lunches or activities after work. Supervisors were approachable. Benefits were great.
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Official response from Economical Insurance

7 November 2022
Thank you for your review. We are thrilled that you enjoyed working for us. Best of luck in your future endeavors!

Good employer

Good employer. Supportive leaders. Work from home support along a hybrid approach. Can be busy as all other jobs can be. You can be rewarded for your commitment.
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Working at the BAC/UW

Overall the job was easy but there are some hard days. Employees are over worked and not valued. Working at the BAC, you are in a queue and it's always busy. Managers are always asking for unrealistic goals, on how many calls you should be taking per hour. When you are meeting your call goals, management always pushing for more. One thing that I hated the most, was when Work Force bothered you if you were taking too long(3 min) after a call, they will reach out and ask you what you were doing so you can take another call. All they cared about was how many calls you took, they don't care about anything else. My manager was so nice though, which is why I stayed this long but their expectations are too much.

Pros

You get to work from home and good benefits

Cons

Micromanageing, pay, workload and doesn't Value their employees
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Official response from Economical Insurance

7 November 2022
Thank you for the review. We are sorry to hear about your experience with the BAC. We have brought this back to our senior leadership team as feedback and to look for ways to improve. We would appreciate further details provided to our team at HR Shared Services team at hrsharedservices@economical.com. We wish you all the best in your future endeavors.

Great place to work, but lot's of work.

Claims can be a grind; when someone is calling an insurance company they've already had a bad day, but you get the chance to make a difference. You deal with a lot of BS, not because of the employer but because that's the nature of the industry... Lots of work, very time sensitive, and you're dealing with a lot of shady elements at times. Economical was excellent though- pay was decent (it's been a few years since I was there, so may have improved) but benefits were good.
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Official response from Economical Insurance

18 July 2022
Thank you for your review! Adjusters can make or break a customer’s day. We’re glad that you enjoyed working with us and that you made a positive impact for our customers, brokers, and employees.

Productive and supportive place to work

Management was great, lots of company functions for team building. I always felt supported and valued. Very team oriented. Always potential to learn and company was very interested in employees continuing education/ courses.
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Overall rating

Based on 147 reviews

Ratings by category

3.5 out of 5 stars for Work/Life Balance
3.6 out of 5 stars for Salary/Benefits
3.1 out of 5 stars for Job security/advancement
3.0 out of 5 stars for Management
3.2 out of 5 stars for Culture

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