increase awareness about the value that insurance brokers deliver to their customers.
Economical Insurance’s cooperation with IBAC enables the insurer to support not just the BIP, but also IBAC’s other efforts such as technological leadership, professional growth of the broker workforce, and IBAC’s federal support to maintain the separation of banking and insurance. Marking the company’s 150th anniversary, Economical resumed its cooperation with IBAC and its BIP in 2021.
Tom Reikman, senior vice president and chief distribution officer at Economical Insurance, expressed confidence in the company. He said, “Our network of skilled brokers is the reason Economical is able to serve more than a million customers from coast to coast. We know that customers rely on the experience and expertise of brokers to find the product that is right for them. Broker relationships, built on advocacy and trust, are a key aspect of our business. The Broker Identity Program ensures that customers continue to access these vital services.”
Peter Braid, CEO of IBAC, expressed delight over the partnership. He said, “We greatly appreciate Economical’s long-standing support and partnership. Their renewed investment demonstrates their confidence in the broker distribution system and their commitment to insurance consumers.”
