Economical to launch new platform for brokers

Vyne will replace the insurer’s current personal lines policy administration system for brokers

Economical Insurance has announced it will be launching Vyne, a new policy administration system for brokers, later this year.

“Given our strategic focus to drive continued growth within the broker channel, we have been committed to delivering a broker solution that is a game-changer,” said Tom Reikman, Economical’s chief distribution officer.

Related: Economical gets one step closer to demutualization

Brokers will be able to use Vyne to administer personal lines and individually rated commercial auto policies “within minutes,” Economical said in a press release. The tool is built on the same Guidewire platform the insurer used to develop Sonnet, its digital direct channel.

“We will continue to evolve our Vyne offering based on broker feedback and response,” Reikman said. “We are known for the depth of our relationships with our valued broker partners and being a respectful business partner.”

Vyne will be rolled out in Ontario, Atlantic Canada, Quebec and Alberta.

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