Economical Insurance has announced that, effective May 01, it will be expanding its executive team by two members.
Fabian Richenberger will join the team as executive vice-president of commercial insurance, while Kelley Irwin will sign on as senior vice-president and chief information officer.
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Also announced was the promotion of executive team members Tom Reikman and Alice Keung, who will take on new roles as chief distribution officer and chief transformation officer, respectively.
“Economical is on a path to deliver on our ambition to become one of Canada’s top property and casualty insurers,” said Economical president and CEO Rowan Saunders. “We are improving the alignment of our operations and leadership to facilitate growth, deepen our capabilities, and continue to meet shifting customer expectations. Fabian and Kelley will fulfill critical roles as we expand our executive team to align for future success.”
Richenberger is a veteran of the insurance sector, having previously served as president of Northbridge Insurance as well as partner and head of financial services for CarProof Corp. He also boasts international experience having built a 25-year career back in his native Switzerland and spending over 15 years with Zurich Insurance in underwriting and executive roles in Chicago, Toronto, New York, and Zurich.
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“Economical has great momentum and the opportunity to help grow the commercial business is incredibly exciting,” said Richenberger. “We will work very closely with our broker partners to make sure that we deliver compelling insurance solutions and outstanding service to achieve our mutual growth aspirations.”
Reikman, who was previously senior vice-president and chief operations officer, will now focus on leading the company’s broker distribution strategy across the country as chief distribution officer.
Alice Keung, formerly chief information officer, will head Economical Insurance’s new transformation & technology function as chief transformation officer.
Kelley Irwin, meanwhile, joins the company as the new senior vice-president and chief information officer, taking Reikman and Keung’s former roles. She has 25 years of experience in the insurance industry, having worked for companies such as Sun Life Financial, Symcor, and most recently TD Bank Group, where she served as vice-president and CIO of corporate technology.
“The innovation demonstrated by Economical has captured the attention of the insurance industry in the last year,” said Irwin. “I am motivated and inspired by the opportunity to help the company continue to transform its business and think critically about future customer needs in an industry that is being challenged daily.”
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