OUR BRAND POSITIONING BRITAM COMPANY PROFILE

Transcription

1 OUR BRAND POSITIONING 1

2 OUR REGIONAL PRESENCE ABOUT US Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern Africa region. The company offers a wide range of financial products and services in Insurance, Asset management, Banking and Property. Our origin can be traced back in 1920 when the British-American Group was incorporated in Nissau, NP Bahamas. British-American Insurance Company commenced operations in Kenya in 1965 when the first branch was opened in Nairobi. In 2004 British-American Investments Company (Kenya) Ltd was established as an investment holding Company and assumed control of British-American (Britam) Insurance Company (Kenya) and the newly formed investments advisory and assets management company British-American(Britam) Assets Manager Limited. - - Asset base of Kshs.55B Employee base of 550 and 1950 financial advisors Britam Insurance Company Limited South Sudan is part of the British American Group of companies with significant operations in the UK, Mauritius, Malta, Kenya and Uganda, Malawi, Mozambique & Tanzania. The Group has a long heritage of over 90 years with experience in offering financial services as well as insurance, leasing, asset management, real estate, leisure, health care, construction and media. The combined tangible and intangible asset base of the British-American Group in Kenya is estimated to be in excess of (US $ 600m) 2 3

3 OUR SERVICES Any insurance company must operate on the principle of utmost good faith. At Britam Insurance, we go further. Every customer, large or small is important to us. We service our customers through three main distribution channels; 1. Insurance Brokers Britam Insurance has superb relationships with all of the key licensed brokers in East Africa. 2. Licensed Agents Britam Insurance has made a major investment in developing the benchmark agency force in all our branches. All of our agents are trained and licensed by the insurance regulatory authorities and are managed to the highest professional standards of both behavior and ethics. 3. Direct Business Some customers prefer to deal with Britam Insurance on a direct basis. We of course are more than happy to do so and will seek to satisfy all customer requirements. REINSURANCE Britam Insurance Company, in line with its market position in East Africa has one of the largest reinsurance capacities. The company has a treaty capacity of US $ Shareholding Equity % Housing Finance % Regional Expansion Uganda South Sudan Rwanda Partnerships 2013 Acorn Group - 25% % Real Insurance Acquisition Million. These together with a good network of international facultative reinsurance partners make Britam Insurance Company Ltd capable of writing the largest risks in South Sudan. Whilst we retain a significant percentage of our gross premium, our treaty and facultative reinsurance arrangements are of international standards. Our re-insurer include Swiss Re, Munich Re, Africa Re, PTA Re, Kenya re, East Africa Re and of course, the London Market. OUR GROUP STRUCTURE 4 5

4 OUR JOURNEY SO FAR 50 Years of achieving and sustaining excellence 6 7

5 BOARD OF DIRECTORS MANAGEMENT - SOUTH SUDAN Amb. Francis K Muthaura Chairman Dr. Benson Wairegi Group Managing Director Bocar E. Dia Director John Githinji Chief Executive Officer George Morara Chief Accountant Gladys Karuri Director Thomas Lagu Kodis Director Phillip Kilonzo Underwritting and Claims Manager Agnes Njenga Business Development Manager 8 9

6 OUR PRODUCTS With our heritage of strength & stability, you can confidently lean on us. Fire and perils Business interruption Burglary All risks Electronic equipment insurance Public liability Fidelity guarantee Money- Cash in transit Motor- Comprehensive Domestic package Marine Workmen compensation/employer s liability Group Life Pensions Medical Travel Insurance 10 11

7 INSURANCE COVERS GROUP A - ASSET COVERS 1. FIRE AND SPECIAL PERILS This policy is recommended to provide indemnity for loss of and/or damage to buildings, plant and machinery, stock in trade, etc. Resulting from: fire, lightening, explosion of gas or boilers used for domestic purposes, earthquake, subsistence and landslip, impact by moving objects, aircraft damage, riots, strikes and malicious damage, water damage by burst pipes or apparatus. 2. BUSINESS INTERRUPTION This policy is recommended for protection against loss of profits following damage at the insured locations by fire and/or any of the Special Perils. Additionally, this policy also provides cover for wages necessary to maintain staff during the interruption period as well as the increased costs of working incurred to minimize loss of gross profit. It is of paramount importance that the maximum period of interruption be assessed considering the possibility of relocating operation, reconstruction period, etc and a suitable amount insured as the gross profit to obtain the benefit of this policy. 3. BURGLARY This policy is recommended for protection against loss of movable items by theft accompanied by violent entry into and/or exit from the premises. In view of the remote possibility of total loss by the theft of all the items at various locations in a dingle burglary event, we would recommend incorporation of the first loss sum insured to act as the insurers limit of liability for anyone loss and also the maximum under the policy. 4. ALL RISKS This cover is recommended for your various portable valuable items e.g mobile phones, telephone systems, fax machines, switchboard, fans, office, fittings and equipment etc. The indemnity under this cover is for all risks of physical loss of and/or damage including fire and theft, and also includes cover for the insured items whilst being used away from the premises or in repair workshops. 5. ELECTRONIC EQUIPMENT INSURANCE (COMPUTERS) Noting the operational hazards to which electronic equipment is exposed, we recommend this cover for your computers, Air conditioning Plant and accessories to provide indemnity for losses resulting from: a) Breakdown, actual breaking, distortion or electrical burn out whilst in use or at Rest; b) Accidental damage i.e. any other sudden and unforeseen loss including fire and lightning, theft, earthquake, malicious damage, riots, strikes and civil commotions. This cover would additionally provide: i. Indemnity for damage to other data carrying media e.g. diskettes, tapes and cables resulting from any of the above perils. ii. Reimbursement of additional expenses incurred to reproduce lost data and records following damage to the insured equipment by any of the above perils

8 6. PUBLIC LIABILITY To provide protection against your legal liability to compensate third parties for injuries and/or damage to their property resulting from accidents or events at any premises owned, occupied, hired or leased for your operations anywhere in the country. Our proposal also includes cover under the following extensions subject to a limit of 10% of the General Liability limit. - Food and Drink poisoning - Use of Car Parks - Use of Signs Posts - Loading and Unloading - Use of carts and Pedals Cycles - Visits by Executive abroad - Jurisdiction clause: South Sudan 7. FIDELITY GUARANTEE To provide protection against loss of cash and/or stock by fraudulent means (involving staff) 8. MONEY - CASH IN TRANSIT This cover would be required for indemnity against All Risks of physical loss and/or damage to money whilst in transit to and from the premises and whilst in the premises during and after working hours. We would require an estimate of the annual carryings and the limits of cover desired for the various situations/ circumstances to enable us tailor a suitable quote. Our cover also includes indemnity for damage to safes following theft or attempted theft. 9. MOTOR COMPREHENSIVE Comprehensive cover to provide indemnity for: (a) All material damage: i.e. the risk of accidental loss, fire and theft, including damage caused by fold, hurricane storm and tempest, earthquake, riots, strikes and civil commotions and malicious damage. (b) Windscreen extension: i.e. Reimbursement of costs incurred to replace or repair windscreen following damage or loss other than involving total loss of the vehicle. (c) Third Party Liability: i.e. compensation to third parties for bodily injury or death caused by the use of your motor vehicles as required by statute. Vehicles to be insured: A: Private: To cover Saloon wagons and small vehicles used for official, social, domestic and pleasure purposes. B: Commercial: To cover Pick-Ups, Trucks, Lorries, Vans and Minibuses used for your operations. C: Motor Cycle: Motor Cycles used for official, business, social and domestic purposes

9 10. DOMESTIC PACKAGE This proposal is for a comprehensive insurance cover for residential buildings owned by yourselves and/or hired for your executive and household contents therein against loss of and/or damage resulting from fire, lightning, earthquake, subterranean fire, flood, storm, hurricane, impact with moving objects, aircraft damage, riots, strikes and malicious damage, landslip, water damage etc. Our package also extends to cover: - Liability for injury to third parties and damage to their property. - Liability to compensate domestic servants. - Loss of Gold equipment, Golfer s liability and Breakage of clubs. - Personal Accident to occupiers. - Loss of rent or costs of alternative accommodation. - Pedal cycle and other equipment for domestic use. 11. MARINE This cover is recommended for business whose operations involve regular importation of Raw materials, packaging materials, sp ares, etc and/or exportation of finished products. The indemnity provided under this policy is for All Risks of physical loss and/or damage to the goods whilst in transit form one country to another. Goods in Transit insurance provide similar coverage, however for inland transits e.g. transits/deliveries of fuel and/or lubricants within South Sudan abroad trucks or trains. This policy may be arranged on an Open Cover basis thereby anticipating the transits to be made in the course of the year, subject to periodical declarations of actual transits made, or alternatively on a specific basis, where cover would only attach in respect of consignments declared prior to transit. GROUP B-STAFF INSURANCE 12. WORKMEN S COMPENSATION/EMPLOYER S LIABILITY It is a statutory obligation for every employer to take out insurance for compensation to his employers for death and/or permanent incapacity from accident sustained whilst at work. A statute of this effect was recently passed by parliament with laws of the land mandating 60 months cover i.e. 5 years earnings for each employee for both Death and Permanent Disability. The cover is also extended to include medical up to a limit agreeable to you

10 13. GROUP PERSONAL ACCIDENT Whereas the workmen s compensation cover provides protection for your legal liability to compensate employees for injuries resulting from accidents at work, the Group Personal Accident cover is a benefit policy for your employees on a 24 hours basis. The benefits payable under this policy may be fixed as multi of employees earnings or as fixed sum per person as follows: - Death: Capital sum insured - Permanent Disablement: Capital sum insured - Temporary Disablement: Agreed fraction of employee s weekly earnings for a stated period e.g. number of weeks. - Accidental Medical Reimbursement: Between USD 1,200 and USD 6,000 per employee. You have the option of taking out this cover for only the Senior members of staff as is the case, or for all the members of staff. 15. TRAVEL INSURANCE This is an insurance cover meant to protect you against unforeseen circumstances that occur after booking and paying for your trip, such as cancellation and offers worldwide support. It offers flexibility tailored to everybody s budget. A reliable 24/7 helpline. Compliant with all embassy visa requirements. Fast claim processing. A wide range of items are covered including: personal accident, emergency medical services, personal liability, loss of passports, cancellation and curtailment of flights, travel delay, war, political violence and terrorism, hijacking, repatriation of mortal remains, loss and delay of checked baggage. 14. MEDICAL INSURANCE Inpatient Covers hospitalization & day care procedures and is Based on various cover limits Out Patient Self funded arrangements 18 19

11 GROUP C - LIFE POLICIES 16 GROUP LIFE [I] Group Term Life Assurance [ii] Group last Expense Cover [iii] Dread Diseases [Critical illness cover] [iv] Group Mortgage [credit] cover [I] GROUP TERM ASSURANCE This life assurance plan is offered to the employer under group term assurance arrangement. The benefits are almost always based on a multiple of annual salary say 1, 2, 3, 4 or 5 annual salary. In case of death while still in the service of the employer, the policy pays out in a lump sum, such death benefits to the dependants of the deceased employee. The cause of death can be sickness or accident, and it is a twenty-four hour cover. The most common names applied or used worldwide for this benefits is Death-In-Service Benefits. Indeed as the name suggests, this plan helps the employer to cater for the dependants of the employees due to such premature death. Its importance is more evidence in a case where the affected employee has hardly accumulated any substantial savings under the employer s savings plans. [II] GROUP LAST EXPENSE COVER It covers the employee s funeral expenses in the unfortunate event of death in service. While the Life Assurance Benefit under the group Life assurance plan is to help the dependants in their long-term financial problem, the Last Expense Cover would help them immediately (actually within 48 hours of official communication within normal working days) to meet the funeral expenses. The policy can be taken independently of any other cover. A stand-alone policy. [iii] DREAD DISEASES [CRITICAL ILLNESS] COVER In consideration of an additional premium paid for such cover, the employees get cover for such sickness as heart attack, cancer, stroke, coronary artery bypass surgery, paraplegia and major organ transplant. Once a member has been diagnosed to have one of the mentioned aliments during the currency of the policy (being without such ailment at the inception of the policy), Britam Insurance Company Ltd shall pay him half of his sum assured up to a limit of Shs.10million to meet his medical and other expenses peculiar to life with the ailment. In the event of death while still in service, the balance of his sum assured is payable to the dependant. Note that Dread disease group cover does not stand alone; it is usually attached to a group term assurance policy. IV] GROUP MORTGAGE [CREDIT] COVER This policy covers financial institutions [Banks, Micro Finance, building/cooperative societies and housing finance]. An employer can also buy the policy to cover salary loans given to its employees. The policy recovers the loan balance due to the policyholder in the event of premature death or total permanent disability of the borrower within the loan period, before completion of loan repayment

12 POLICY COMBINATION [PACKAGE] All Group Life policies can be combined into one policy to reduce on administrative and other related costs: - Group Term with Group Pension - Group Term with Group last Expense - Group Term with Critical Illness [IV] LEVEL TERM Benefit is payable only on death within the insurance period, the policy can be used to secure a business organization from adverse financial problem in case of death of a key person. [Key man policy]. Period of insurance range from one to twenty years, the premium rate is leveled for the rest of the period. - Group Term, Group Last Expense, Group Critical Illness and Disability Covers. [II] FAMILY FUNERAL Used to secure funeral expenses for the family. Death is certain but at the same time, it is also untimely. This policy takes care of such uncertainty. The benefit is paid within forty-eight hours from the receipt of satisfactory claim documents. In addition to four children, with maximum age limit of 21, cover can be extended to parents of both spouses. [III] INDIVIDUAL MORTGAGE [LOAN PROTECTION] Used to secure properties handed over to financial institution to secure long-term loans. The family could be faced with a double loss; that of the mortgaged property and a breadwinner in case of premature death or permanently disability of the borrower [who could be the breadwinner of the family]

13 PENSIONS [I] GROUP PROVIDENT/PENSION FUND. This is a saving plan by the employer for the future benefit of the employees. It is currently provided for under the Group deposit Administration Plan, in which case a combined monthly contribution of the employees and the employer [which are fixed percentages of the employees salaries], are accumulated under individual employee s account but collectively under a master policy of the employer. Minimum rate of interest is guaranteed annually and added to the accounts. The employer has the option to arrange the plan in the form of a lump sum benefits at for the employee (Provident fund) or to include the option of converting a portion of it in the form of annuity (Pension). The choice is left to the employee. [II] PERSONAL PENSION Used to secure retirement or lump sum benefits after the expiry of a given period or at a given age. It can be bought by the self-employed, partners in a partnership, a sole proprietor and any other interested person capable of periodical or lump sum saving. The contract can also be arranged through the employer, under the Individual Occupational Pension Plan for those who are employed. 24