27 February 2018 11:30
Economical insurance conducts a restructuring in the course of 2018 and will cut 10 % of its workforce, announced the company on Monday. The insurer employs more than 2,400 people.
The company says it wants to optimize its organizational structure and its support functions by simplifying its processes, improving its ability to execute its strategic plans effectively. The insurer also said to want to reduce “substantially” its costs related to third parties.
Structure better adapted to the strategic initiatives
“The resulting structure will be better adapted to support our strategic initiatives and meet the expectations of an open society, with support and teams more effective in place. Economical will ensure it has an appropriate mix of talent in place with the necessary capacity to continue its transformation into an open society, strong and independent, ” said its president and ceo Rowan Saunders.
The trademark Western General, Economical Select , and Perth will be the name of the Economical Insurance later this year.