Swiss Re Corporate Solutions has entered into a partnership agreement with Canadian insurer Economical Insurance, allowing the latter to access the former’s International Program Administration (IPA) platform and network services.
According to Swiss Re Corporate Solutions, this is the first agreement of its kind in North America. The firm had previously collaborated with global broking company Brokerslink in 2019 and insurers LocalTapiola and Württembergische Versicherung in 2020 to make its IPA solution more widely available outside of Europe.
The IPA platform, launched by Swiss Re Corporate Solutions in 2019, allows users to manage and deliver structured and compliant multinational programs from a single online platform. It also offers insurers access to its international network of over 150 offices and partners.
A release said that the collaboration with Swiss Re Corporate Solutions allows Economical Insurance to better position itself and offer innovative services to both new and existing clients with international interests.
“We are pleased to collaborate with Economical Insurance so they can benefit from our digital International Program Administration platform,” said Swiss Re Corporate Solutions Canada CEO Adrian Hall. “Swiss Re Corporate Solutions continues to move the digitalization of corporate insurance forward, underlining our ambition to simplify complex international program delivery through technology.”
“We’re pleased to collaborate with Swiss Re Corporate Solutions to continue the diversification of the commercial business at Economical and provide world class solutions,” commented Economical Insurance executive vice president of commercial insurance Fabian Richenberger, adding that the platform is a “very positive opportunity” for the company’s broker partners to serve their customers with business interests outside of Canada.