COMPANY PROFILE

Transcription

1 COMPANY PROFILE

2 NESTLIFE COMPANY PROFILE Contents Pg3 Pg 5 Pg 7 Pg 9 Pg 11 Pg 12 Pg 14 Pg 17 Pg 19 Pg 21 Pg 23 Pg 25 Pg 27 Pg 28 Company Background Our Business Philosophy Vision, Mission, Values Group Structure Employment Equity Board of Directors Executive Management Middle Management Key Element to Success Customer Centricity Client Specific Product Development Technology Value for Money Product Catalogue 1

3 BACKGROUND Established in 1988, NestLife has 3 decades of experience in the life assurance industry. It is 100% black owned and managed, led by CEO Vusi Sithole. He first bought 74% of the business in 1996 from Capital Alliance and acquired the rest of the Company in Headquartered in Johannesburg, NestLife has offices in the Free State, Eastern Cape and KwaZulu Natal. Today the Company underwrites more than R300 million in annual premium income. At NestLife, we understand why it s important for companies to assist their employees to ensure a sound financial future. We bring all our expertise and knowledge to structure the best life assurance benefits to suit your employees needs

4 OUR BUSINESS PHILOSOPHY We are a relationship driven organization with a focus on the growth and success of our clients and business partners

5 VISION NestLife is a specialist group risk insurer that provides and administers comprehensive insurance solutions to meet the needs of its clients. MISSION We strive to be recognised as the preferred partner that delivers value-adding solutions, through mutually beneficial relationships with our clients in our selected markets. VALUES WE ARE SPECIALISTS! WE ARE STRATEGY FOCUSED! WE PROVIDE EXCELLENT SERVICE! WE BUILD RELATIONSHIPS! WE OWN OUR REPUTATION! 6 7

6 GROUP STRUCTURE PHAKAMA INVESTMENT HOLDINGS (pty) Ltd. 100% NESTLIFE ASSURANCE CORPORATION (pty) Ltd. 100% JOHN WEINBERG (pty) Ltd

7 EMPLOYMENT EQUITY Black Female Ownership 100% 50% Board 67% 33% Management 67% 67% Operational 100% 45% Agents 100% 61%

8 BOARD OF DIRECTORS VUSI SITHOLE Vusi Sithole has extensive experience in the insurance industry. He has held the position of CEO at Afgen Insurance and that of Senior Manager at African Life. He headed a subsidiary of Hollard Insurance as Executive Chairman. He is chairman of Phakama Investment holdings. Mr. Sithole has a master s degree in Business Administration from Business School Netherlands. He also holds a management diploma from Cranfield University School of Management (UK), Georgetown University (USA), London Guildhall University and the International Law Institute (Italy) In 2004, he won the ABSIP Career Achievement Award and in 2012, he was honoured with the coveted BBQ Businessman of the Year Award. We are a relationship driven organisation that focuses on the growth and success of our clients and business partners. BRIDGETTE MODISE Bridgette Modise, CIMA, BCompt (Hons), CA(SA), is a chartered accountant and was previously a partner at KPMG in the Risk and Advisory Services Division. She is the CEO of Kutira Capital, an investment and advisory services company she founded in Ms. Modise has 15 years of experience in the audit profession. She is a Member of the South African Institute of Chartered Accountants and of the Certified Institute of Management. BRIAN SEACH Brian Seach has over 40 years experience in the short term insurance industry and has moved through the company and broker ranks, reaching CEO and Chairman level of both insurance and broker organisations in South Africa and London. He has served as director of several large companies (listed and private) and also as executive and non-executive chairman. Mr. Seach s expertise ranges from business and management skills, including compliance and acquisitions. He is a Fellow of the South African Insurance Institute as well as a Fellow of the Chartered Institute of London. HAYDN DAVIES Haydn Davies is a partner in the Corporate Practice of Webber Wentzel. He specialises in mergers and acquisitions, commercial law, aviation and insolvency and business rescue. Mr. Davies represents the South African interests of many of the world s best known companies. His expertise has been recognised by various international research organisations. Mr. Davies holds a BA (Honours), LLB and LLM degree from the University of the Witwatersrand. He also has a Higher Diploma in Advanced Company Law from the same institution. BAJABULILE LUTHULI Bajabulile has over 16 years experience in providing fiscal, strategic and operational leadership in uniquely challenging situations. She is a dynamic, talented and results-oriented leader. Her proven abilities are in financial management, developing and implementing strategy, risk management, leading projects, improving operational efficiencies and team building. Over the years Ms. Luthuli has aquired excellent interpersonal skills in resolving multiple and complex issues (across sales, human resources, finance, operations and legal), driving transformation objectives and motivating staff to peak performance. Ms. Luthuli is a Chartered Accountant

9 Chief Executive Officer Mr. Vusi Sithole Executive Management: C E O O ffi c e Eleanor Peterson EXECUTIVE MANAGEMENT Executive Management: Administration Betty Masemula Executive Management: Risk Mandla Mtsweni Executive Management: Sales Samkelo Mthembu Executive Management: Compliance Portia Mamosebo Executive Management: Human Resources Emelda Tshikovhi Executive Management: Strategy (Vacant) The operations are managed at two levels: the Executive Management (Exco) and a team of Operations Managers. Our current branch layout is: Head Office : Commerce Square in Sandhurst, Sandton Kwa Zulu Natal (KZN)Office: Durban Eastern Cape (EC) Offices: Port Elizabeth and King Williams Town Free State Office: Bloemfontein

10 MIDDLE MANAGEMENT Executive Management: Strategy (Vacant) Communications Manager Sindiswa Myeza Marketing Manager Nolitha Sitole Executive Manager: Administration Betty Masemula Manager: Claims Simangele Mokokosi Manager: New Business Unelia Stevens Manager: Scheme and Policy Fulfilment Tiego Malibe Executive Manager: Finance Vacant Senior Accountant: Premium, Credit Control Analysis: Richard Hlungwane Senior Accountant: Managment Accounting Jeff Misihairabwi Senior Accountant: Finacial Accounting Walter Mogane

11 KEY ELEMENTS TO SUCCESS NestLife is dedicated to ensuring the provision of insurance products and services according to market segment needs. We offer corporate, commercial, mid-market and low-income clients a superior service with products tailored to their needs. FOCUS ON CLIENT NEEDS: We achieve this by understanding our client s needs, investing in the capabilities required and measuring our success

12 CUSTOMER CENTRICITY Our clients are at the heart of everything we do. Treating customers fairly is central to our corporate culture. NestLife has a core team to drive customer services. Our goal is to foster a customer-centric ethos throughout the Company. This is achieved by ensuring that each interaction with the customer delivers accurate and relevant service

13 CLIENT SPECIFIC PRODUCT DEVELOPMENT NestLife uses its expert knowledge to develop products suited to our client s specific needs. Product development is subject to an intensive, systematic process of market research, risk profiling and continual assessment. The latter is important, as even after a successful launch it is imperative that products are continually evaluated to ensure they are meeting the needs of all stakeholders

14 TECHNOLOGY NestLife employs the best technology to manage our Group insurance administration. Our state of the art system offers end-to-end insurance Wmanagement that supports the entire insurance policy lifecycle. It has been designed under a customer-centric philosophy that provides operating efficiency. This software has the flexibility to support large group schemes using specially designed business processes and workflows. Our system is central to our operating environment and provides efficient data management, claims management and reporting. This enables NestLife to provide the best customer service and support to our members. With advanced data protection principles, we are able to secure client information in line with relevant legal frameworks. We recognise that our reputation and image depends on the speed and efficiency with which we settle a claim. NestLife prides itself on its comprehensive Claims Management System, which facilitates and manages the entire claims process

15 VALUE FOR MONEY As a Specialist Group Risk Insurer, NestLife prides itself in its sophisticated pricing model. We use our expertise and comprehensive data analysis to understand each group s unique risks. Our pricing is then developed to maximize sustainability and offer clients fair pricing. This makes us competitive within our market and attractive to our members. Because risk is spread over the entire group, individual members pay a much lower premium

16 GROUP COVER NestLife Payment Protector NestLife Incapacity Income Provider NESTLIFE PRODUCT CATALOGUE ABOUT NESTLIFE Our Mission: NestLife is a Specialist Group Risk insurer that provides and administers comprehensive life insurance solutions to meet the needs of our clients. Our Vision: We strive to be recognised as the preferred partner that delivers value-adding solutions through mutually beneficial relationships with our clients in our selected markets. Product Description: The NestLife Payment Protector will pay the outstanding balance of the loan holder s outstanding debt. Client Benefits: Protection of projected revenue as NestLife pays the loan holder s outstanding debt in full. Provides an additional revenue stream through profit sharing with NestLife as well as commission earned on the premium paid by the end consumer. NestLife Death Payout Benefit Product Description: NestLife Death Payout Benefit is a means of ensuring that a group member s beneficiaries are not destitute in the event of the member s death. The payout is made in the event of the death of the individual members in a participating group e.g. corporates, union, retirement and pension funds etc. The cover for members is provided through a defined lump sum benefit linked to their respective annual incomes and also according to the employer s benefit policy. The cover is sold to the group, not to the individual so that the premiums are affordable for every member in the group. The cover is usually compulsory for the group members. Product Description: NestLife Incapacity Income Provider is designed to provide a client s members with a lump sum payment in the event of a diagnosed defined disability. There are three types of group disability schemes: Permanent Total Disability (PTD); Total and Temporary Disability (TTD); Permanent Health Insurance (PHI). Permanent Total Disability (PTD) cover applies when an individual has been medically declared disabled and unable to work. The cover is paid in a lump sum. Total and Temporary disability cover (TTD) is interim cover that applies when an individual is unable to perform their work, however they are not fully declared medically disabled. The cover is paid monthly. Permanent Health Insurance (PHI) cover applies when a member is declared medically disabled. The affected member is paid on a monthly basis until retirement age or death. The cover is usually a legal requirement and sold to the group not to the individual, making it an affordable premium. Client Benefits: Great value for money rate. NestLife offers a one stop service through underwriting, administration and processing of the payout claims. An additional benefit of disability assessment management is provided. The member is provided with an income stream in the event of a disability. Our Values: We are Specialists! We are Strategy Focused! We provide Excellent Service! We build Relationships! We own our Reputation! Client Benefits: Great value for money rate that gives you an efficient, one-stop service from NestLife. NestLife will underwrite, administer and process the payout claims. Additional income stream for the member s beneficiaries in the event of the member s death

17 Nestlife Critical Illness Cash Provider Nestlife Six Pack Plan INDIVIDUAL COVER Nestlife Funeral Cover Nestlife Six Pack Plan Product Description: NestLife Critical Illness covers the individual members of a participating group in the event of a dread disease. The cover is sold to the group and not to the individual making it an affordable premium. The cover is usually compulsory. Client Benefits: Competitive, great value for money rate. NestLife provides an efficient, one-stop service insurer by underwriting, administering and processing the payout claims. A lumpsum payout is provided to the member in the event of a dread disease. Product Description: The Six Pack Plan is a unique funeral product designed with African culture and values in mind, where it is common practice to take care of both immediate and extended family members. The Six Pack Plan allows a member to insure six (6) extended family members under one policy at an affordable premium, thereby allowing the member to create their own Six Pack. The number of Six packs that a client is able to take out is unlimited. The Six Pack also provides a Life Cover portion for the main member thus enabling the member to also provide a lump sum to their relatives. Product Description: Funeral cover for the individual members at preferred levels of cover. Affordable individual cover. Client Benefits: Great value for money premium. Through its extensive network of funeral service providers, NestLife is able to provide members with a dignified funeral. NestLife Funeral Cover includes repatriation. Product Description: The Six Pack Plan is a unique funeral product designed with African culture and values in mind, where it is common practice to take care of both immediate and extended family members. The Six Pack Plan allows a member to insure six (6) extended family members under one policy at an affordable premium, thereby allowing the member to create their own Six Pack. The number of Six packs that a client is able to take out is unlimited. The Six Pack also provides a Life Cover portion for the main member thus enabling the member to also provide a lump sum to their relatives. Nestlife Funeral Cover Product Description: NestLife Funeral Cover insures an individual member of a participating group in the event of death. The cover is sold to the group (e.g. corporates, unions, retirement and pension funds), making it an affordable premium. The cover is either compulsory or voluntary to the members of the group. Client Benefits: The Six Pack Plan allows a member to insure six (6) relatives under one policy at an affordable premium which covers each member with a dignified funeral. What is revolutionary about the Six Pack Plan is that in addition to the funeral cover, there is a life cover portion that covers one of the six (6) relatives. In the event of the death of the member with the Life Cover, NestLife provides the family with the lump sum amount. Client Benefits: The Six Pack Plan allows a member to insure six (6) relatives under one policy at an affordable premium which covers each member with a dignified funeral. What is revolutionary about the Six Pack Plan is that in addition to the funeral cover, there is a life cover portion that covers one of the six (6) relatives. In the event of the death of the member with the Life Cover, NestLife provides the family with the lump sum amount. Client Benefits: Competitive, great value for money rate. NestLife provides an efficient, one-stop service by underwriting, administering and processing the payout claims. Through its extensive network of funeral service providers, NestLife is able to provide members with a dignified funeral. NestLife Funeral Cover includes repatriation

18 H e a d O ffi c e Commerce Square Building No.3 1st floor cnr Rivonia and Melville Road Sandhurst, Sandton, 2186 Tel: (011) / PO Box 2919 Houghton, 2041 Bloemfontein 43 Kellner Street, Westdene, Bloemfontein Tel: (051) , Fax: (051) Durban 9th floor, Suite 901, Victoria Maine, 71 Victoria Embankment, Durban, 4001 Tel: (031) , Fax: (031) King Williams Town Office B, 30 Alexander Road, Tarynata Park, King Williams Town, 5600, Tel: (043) , Fax: (043) Port Elizabeth 350 Govan Mbeki Avenue, Central Port Elizabeth, 6001 Tel: (041) , Fax: (041) Nestlife Assurance Corporation Limited is an Authorized Financial Services Provider FSP No: 6409