25 July 2017 07:00
In the first quarter of 2017, Echelon Insurance, recorded an increase of 30 % of its direct written premium, the latter amounting to 54.6 million dollars (M$).
This growth is due in part to the personal auto in Ontario and the sector of insurance business, said Serge Lavoie, president and chief executive officer of the insurer. «The market response to our products of long-distance road transport and automotive business is very positive and we are expanding our offer to new regions to meet the demand «, he explained, during a conference call with analysts on the occasion of the disclosure of the results of the first quarter of 2017.
In Ontario, Step has undertaken a reshuffle of its territories, conquered new ones, and has revised its prices upward, after having recently received approval from the financial services Commission of Ontario.
For the sector of insurance business, new products, such as the bail, and the long-distance road transport, introduced on the market in 2016, as the existing products, auto insurance, and commercial property, on which the insurer is more concentrated, is bearing fruit.
The Face of all this growth, Mr. Lavoie ensures that the different infrastructures of the insurer are ready to withstand it, after that an analyst will be worried. «We made the bet to invest in our resources, we now have a computer system user-friendly, reliable and high-performance and an experienced team. «
In addition, Step has initiated a phased launch of a new computer system. At the time of the call, the call should be launched in Québec at the end of the month of may, after a trial period, and put online in Alberta at the beginning of the month of June, while the Maritime provinces, Ontario and British Columbia already use it.