CRA Insurance News – Canada

Waterloo, Ontario — Economical Insurance has announced a new and significant relationship with Uber in Canada. The relationship will provide insurance coverage to every Uber Rides and Uber Eats trip in Alberta, Ontario, Quebec and Nova Scotia. The relationship will officially launch Sept.1, 2020. 

“At Economical, we believe in finding innovative solutions to changing customer expectations, which is exactly what Uber has done for transportation globally,” said Rowan Saunders, president and CEO, Economical Insurance. “Our initiative with Uber continues our focus on digital transformation. It is another example of how we’re blending our insurance industry expertise with technology to support a better customer experience. We are proud that Uber has chosen Economical as their rideshare insurer in Canada going forward.”

This announcement came after Economical Insurance announced their plans to convert from a mutual company to a publicly traded share company. Economicals most recent launch was Vyne which uses advanced technology to provide faster service, improved workflows and sophisticated products and pricing for brokers and their customers. 

“Our sophisticated products, broad underwriting capabilities, and dedicated team give us the opportunity to provide coverage for a business as large and successful as Uber,” said Fabian Richenberger, EVP, Commercial Insurance, Economical Insurance. “As we look to the future, we know Canadians are changing how they order food, use cars, and get from one point to another, and we are dedicated to being there to protect them.”

The Insurance coverage for drivers operating with Uber will continue seamlessly. Economical says they will share more information and further details on the initiative in the coming weeks. 

Credit to Collision Repair Magazine.