NicozDiamond Insurance Company Profile 2015

Transcription

1 NicozDiamond Insurance Company Profile 2015

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3 Contents N i c o z D i a m o n d C o m p a n y P r o f i l e

4 4 N i c o z D i a m o n d C o m p a n y P r o f i l e About us A tried and tested brand that promises you security, peace of mind and exceptional service should you get cover with NicozDiamond. NicozDiamond Insurance Limited ( NDI was born out of a merger of National Insurance Company of Zimbabwe (NICOZ) and Diamond Insurance Company on 1 January 2002 and subsequently listed on the Zimbabwe Stock Exchange( ZSE ) in the same year. NicozDiamond s brand is consistently one of the most recognized in Zimbabwe with 6 branches in Zimbabwe, regional operations in Uganda, Malawi, Zambia and Mozambique and Bancassurance arrangements with 4 banks. Corporate Governance issues are highly prioritized and there is fervent commitment to the principles of lucidity, integrity and responsibility. Since 2006, NicozDiamond has subscribed to the Global Credit Rating Company of South Africa and has consistently enjoyed an A- rating for claims paying ability. It is one of the few short term insurance companies which are ISO certified by the Standards Association of Zimbabwe. Since 2006, NicozDiamond has subscribed to the Global Credit Rating Company of South Africa and has consistently enjoyed an A- rating for claims paying ability. It is one of the few short term insurance companies which are ISO certified by the Standards Association of Zimbabwe

5 Our Vision To provide superior risk solutions underpinned by a highly competent, innovative and dedicated team for the benefit of all stakeholders. Our Mission To be a highly visible and preferred provider of innovative risk solutions in our chosen markets. Our Values Professionalism - To be trustworthy, competent, respectful, considerate and acting with integrity Accountability - Have authority, responsibility, ownership, and meet stakeholders expectations and transparency Teamwork - Have shared purpose to achieve common goals Innovation - Doing something differently, adding value and being cost effective, continuous improvement and new ideas Excellence - Being the best, have the art of mastering and should have superior quality

6 6 N i c o z D i a m o n d C o m p a n y P r o f i l e Our Unique Selling Proposition Providing responsive risk solutions Our Underwriting Philosophy NicozDiamond is committed to providing relevant risk solutions through prudent underwriting. This is achieved through the following: A highly experienced and competent underwriting team Analysis of risk exposure through risk surveys Conservative ratio of exposure to shareholders funds A balanced geographic spread of risks and premiums Financials - Income Figures $ Gross Premiums Written 16,269 21,243 22,721 28,063 27,164 Net Premiums Written 10,525 13,407 12,638 16,746 16,368 Premiums Earned 10,002 12,596 12,730 15,303 16,441 Claims Incurred 5,037 7,032 6,337 7,423 7,605 Net Commission Paid 1,262 1,257 1,312 1,607 1,430 Total Operating Expenses 4,479 4,192 4,832 5,451 6,150 Underwriting Profit/ (Loss) ,255 Investment Income Profit before Taxation -1, ,198 1,483 1,374 Our Claims Philosophy NicozDiamond is committed to diligent management of claims. This is achieved through the following: Empathy and speedy settlement of claims Timely provision of responses and updates to clients A highly experienced and competent claims team Adherence to clearly defined and documented service delivery standards

7 N i c o z D i a m o n d C o m p a n y P r o f i l e Our Competitive Strengths & Differentiators Good governance practices Strong and highly recognized brand Prompt claims payment Customer centric Par excellence service Large market share Huge balance sheet Highly skilled manpower Only listed short-term insurer A- rating for claims payment ISO certification NicozDiamond is committed to providing relevant risk solutions through prudent underwriting

8 8 N i c o z D i a m o n d C o m p a n y P r o f i l e Regional expansion drive NDI currently has a presence in five African countries namely Zimbabwe, Malawi, Zambia, Uganda and Mozambique. One key motivating factor for regional expansion which remains relevant to this day is the need to diversify away from Zimbabwe s country risk. NDI has taken a portfolio approach regarding its regional investments. First Insurance Company Limited (FICO) is a joint venture between Ugandan local investors and NicozDiamond Insurance Company Limited. First Insurance Company Limited with an authorized share capital of Uganda shillings 3 billion, was registered as an insurance company on 4 May 2002, and is a member of the Uganda Insurers Association. Contact Address: Plot 1, Kyadondo Road, Nakasero P O Box 5245, Kampala Contact Numbers: / Fax Number: Burugupalli Vyasa Krishna FICO Chief Executive Officer Burugupalli is an insurance expert with over 37 years of experience involved in all aspects of insurance in India, Uganda, Maldives, Sri Lanka, Kyrgyzstan, Botswana and Ethiopia. He holds an M.B.A in Insurance and Risk Management and a Master, MIB (Insurance Business) from G J University of Science & Technology, India. Address: [email protected] Website Address:

9 N i c o z D i a m o n d C o m p a n y P r o f i l e Regional expansion drive United General Insurance Company Limited (UGI) is one of Malawi s leading short term/general insurance companies that has been operating in Malawi for over 40yrs. UGI S head office is located in Blantyre and has branch offices in Blantyre, Lilongwe and Mzuzu. Contact Address: Michiru House Victoria Avenue P O Box 383, Blantyre Contact Numbers: Ian Kumwenda UGI Chief Executive Officer ACII (UK), MSc. Strategic Mgmt. (University of Derby) Ian is a Chartered Insurer (UK) and holds a Master s of Science Degree in Strategic Management from the University of Derby. He has got 33 years of experience in Insurance Industry. Address: [email protected] Website Address:

10 1 0 N i c o z D i a m o n d C o m p a n y P r o f i l e Regional expansion drive NDI currently has a presence in five African countries namely Zimbabwe, Malawi, Zambia, Uganda and Mozambique. One key motivating factor for regional expansion which remains relevant to this day is the need to diversify away from Zimbabwe s country risk. NDI has taken a portfolio approach regarding its regional investments. Diamond Companhia de Seguros (DSM), SA is a Mozambican Company which was established in February 2014 and specialises in non-life insurance. Ana Gunde DSM Chief Executive Officer; AIISA Ana is a young and dynamic insurance practitioner with over 10 years of experience in the Mozambican market. She is an Associate in Insurance and currently pursuing Fellowship with the Insurance Institute of South Africa. Contact Address: Diamond Seguros No. 382 Kenneth Kaunda Avenue P O Box 8244, Maputo Contact Numbers: /484955/ Address: [email protected] Website Address:

11 N i c o z D i a m o n d C o m p a n y P r o f i l e Regional expansion drive Diamond General Insurance Company Limited (DGI) is a privately owned short term insurance company incorporated in the Republic of Zambia on the 25th of October Head office is in Lusaka with branches in Kitwe, Ndola, Livingstone, Chingola and 2 branches in Lusaka. Contact Address: Stand No Base Park Alick Nkhata Road P O Box 37041, Lusaka Contact Numbers: / / Telefax: Address: [email protected] Website Address: Edna Kalenga DGI Chief Executive Officer MBA (EBS), BA in Public Admin (University of Zambia), ACII Edna is a seasonal insurer with over 20 years work experience in the industry. She holds a Master of Business Administration with Herriot-Watt University, and a Bachelor of Arts Degree in Public Administration with the University of Zambia and also an Advanced Diploma in Insurance.

12 1 2 N i c o z D i a m o n d C o m p a n y P r o f i l e What we offer NICOZDIAMOND PRODUCTS & PRODUCT PACKAGES MOTOR VEHICLE INSURANCE Covers Third Party, Third Party, Fire & Theft and Comprehensive Third Party covers the motorist s liability to others for damage to vehicles and/or other property, and death and injury to third parties Third Party Fire & Theft covers insured vehicle for damage due to fire or theft plus the benefits for Third Party Comprehensive most extensive form of insurance which, in addition to providing the cover listed above, provides accidental damage cover to your vehicles HOME PLAN INSURANCE Covers House Owners Section and House Holders Section House Owners Section covers private dwellings, outbuildings, walls/fences and gates for the cost of re-building following damage caused by fire, lightning and explosion, storm, flood and earthquake, theft and accidental damage to fittings and fixtures. Cover extends to the cost of rentals in similar accommodation for a specified period House Holders Section - covers all movable contents of the home for replacement value less depreciation, perils are the same as above and extends to include theft from washing line, deterioration of foodstuff, property of guests and domestic workers, and injuries caused to other persons by domestic pets e.g. dog bites PERSONAL ACCIDENT INSURANCE Covers the life of the insured person against death or bodily injury caused by accidental violent and visible means. Cover extends to include permanent disability, temporary disability and medical expenses. GOLFER S PLAN INSURANCE A policy designed to cover risks associated with golfing to both amateurs and professionals alike. TRAVEL INSURANCE Covers traveling emergencies such as; emergency medical expenses, journey cancellations and loss of luggage.

13 N i c o z D i a m o n d C o m p a n y P r o f i l e COMMERCIAL INSURANCE This policy caters for the varying needs of Corporate-type businesses. Underwritten on an asset based policy wording incorporating buildings, office conents, stock in trade, etc. against fire, consequential loss and most types of crime related risks such as burglary and theft of money, and accidental damage types of risks. The broader classes listed below are further split into numerous insurance products providing cover against most insurable risks. As the scope of insurance is so broad, those covers which have broad similarities are grouped together. MARINE & AVIATION INSURANCE Covers damage to hull and liability to passengers carried therein and loss or damage to cargo. MINING INSURANCE In addition to covers provided under the other sections for damage to assets, the company offers environmental impairment insurance to cater for liabilities arising from mining activities. ENGINEERING INSURANCE Covers machinery breakdown and resultant deterioration of stock, plant and erection all risks, contractors all risks and resultant liabilities. FARMING INSURANCE Covers the crops against hail, wind storm and farm equipment. CHRISTIANSURE INSURANCE PACKAGE A unique scheme for Churches and their congregants where the church benefits 10% of the premiums paid. STAFFSURE INSURANCE PACKAGE A packaged product offering for staff with premiums being paid through a stop order deduction facility. EDUSURE INSURANCE PACKAGE A product package designed for educational institutions schools, colleges, universities. SMES PRODUCT PACKAGE Special insurance plans for the informal sector. HOTELLIERS PRODUCT PACKAGE A unique package designed to offer all around protection to hoteliers in their dayto-day operations. CHENGETO PRODUCT PACKAGE A product package designed for high density residential areas.

14 1 4 N i c o z D i a m o n d C o m p a n y P r o f i l e NicozDiamond Directors Board Chairman Managing Director Non-Executive Directors Albert J Nduna Grace Muradzikwa Thembiwe Chikosi-Mazingi Bruce Campbell Rachel Kupara James Karidza Paul Brien Barnabas Matongera Albert J Nduna Non-Executive Chairman B.Acc. (University of Lancaster), MBA (Bradford University). Albert holds a degree in Accounting and Finance from the University of Lancaster (UK) and a Masters in Business Administration from Bradford University (UK) and has a vast of experience gained from local, regional and international companies. Grace Muradzikwa Managing Director Bachelor of Administration (University of Zimbabwe), MBA (UZ), AIISA, FIISA. Grace holds a Masters in Business Administration and Bachelor of Administration degree from the University of Zimbabwe. In addition, she is an Associate of the Insurance Institute of South Africa (AIISA) and Fellow of the Insurance Institute of South Africa. She is an Insurance Practitioner with over 2 decades of insurance experience spanning all facets of Short-term and Reinsurance.

15 N i c o z D i a m o n d C o m p a n y P r o f i l e Thembiwe Chikosi Mazingi Vice Chairperson BL (UZ), LLB (UZ), MBA (UZ). Barnabas Matongera Non-Executive Director LLB, LLM, PDL, ACIS. Thembiwe holds a Masters in Business Administration (MBA), Bachelor of Laws and Bachelor of Law degrees from the University of Zimbabwe. and Advanced Corporate Law and Securities Law, Advanced Programme in Value-Added Tax and Post-graduate Certificate in Advanced Taxation (UNISA) among other qualifications. Thembiwe is registered as a legal Practitioner of the High Court of Zimbabwe. Bruce Campbell Non-Executive Director MBL (UNISA), Bachelor of Arts (NU) FIISA. Bruce Campbell is a qualified and seasoned insurer who is a Fellow of the Chartered Insurance Institute of London and also holds an Associateship from the same institute. He holds a Master of Business Leadership from UNISA and has a Bachelor of Arts Degree from Natal University. Rachel Kupara Non-Executive Director B.Acc (Hons), CA (Z) MBA. Rachel Pfungwa Kupara is a Chartered Accountant (Zimbabwe) who holds a Masters in Business Administration (MBA) from the University of Bradford, England and has vast experience in insurance. Barnabas holds a Master of Laws and Bachelor of Laws degree from the University of South Africa. He is an Associate of the Institute of Chartered Secretaries and Administrators in Zimbabwe with over 16 years experience in the social protection industry. James Karidza Non-Executive Director BAcc (UZ), CA. James is a qualified Chartered Accountant and a holder of a Bachelor of Accountancy degree from the University of Zimbabwe and has vast experience in foreign companies. He did his articles of clerkship with KPMG Peat Marwick. Paul Brien Non Executive Director BAcc. (University of Exeter - UK). Paul is a holder of a Bachelor of Accountancy and Finance degree with honours from the University of Exeter (UK). He has over a decade experience in Portfolio and Investment banking.

16 1 6 N i c o z D i a m o n d C o m p a n y P r o f i l e Key team members Gloria Zvaravanhu General Manager Corporate Services MBL (UNISA), B.Acc (RU), CA (SA), CA (Z). Gloria is a qualified Chartered Accountant and is also a holder of a Master s in Business Leadership from UNISA and a Bachelor s in Accountancy from Rhodes University. She has more than ten years experience in financial management, auditing, corporate finance and treasury. Noel Manika General Manager Operations MSc. Risk Mgt. (NUST), MBA (UZ), BSc. Honors Econ. (UZ). Noel holds a Master of Science in Risk Management & Insurance (NUST), Bachelor of Science Honors Degree in Economics and a Masters in Business Administration degree (UZ) among other qualifications. He has vast experience in insurance, reinsurance risk and claims management. Gugulethu Ngwenya General Manager Special Projects MBA (UZ), BSc General (UZ), BSc Honours (UZ). Gugu holds a Master of Business Administration, a BSc General and a Bachelor of Science Honours Degree both from the University of Zimbabwe. She is an experienced insurance practioner, having worked in the industry for more than a decade.

17 N i c o z D i a m o n d C o m p a n y P r o f i l e Joyce Nousenga Head Technical Services AIISA, Advanced Diploma in Insurance (Dar-es-Salaam). Joyce is an Associate member of the Insurance Institute of South Africa and holds an Advanced Diploma in Insurance from the Institute of Finance Management of Dar-es-Salaam among other qualifications. She is an Insurance Practitioner with over 30 years of insurance experience in insurance broking, short term insurance underwriting, claims and marketing. Cathrine Musakwa Head Operations AIISA, Bachelor of Commerce Risk Management (UNISA). Cathrine is an Associate of the Insurance Institute of South Africa and holds a Bachelor of Commerce Risk Management degree with UNISA. She is an effective insurance practitioner having worked for the industry for more than a decade. Odiline Kava Head Marketing & Priority BBA Marketing (SA), Marketing Management Diploma (IMM), MDP (UZ), MBA (Dissertation Stage). Odiline an Accredited Marketer who holds a Bachelor of Business Administration in Marketing, a Diploma in Marketing Management from the Institute of Marketing Management (SA) and a Certificate in Management Development Program from the University of Zimbabwe. She has vast experience in marketing, brand management and corporate affairs for financial services having worked for the industry for more than two decades.

18 1 8 N i c o z D i a m o n d C o m p a n y P r o f i l e Where to Find us HARARE Head Office Insurance Centre 30 Samora Machel Avenue P O Box 1256 Tel: Fax: [email protected] [email protected] Website: BULAWAYO Fidelity Life Centre Fife Street & 11th Avenue P O Box 158 Tel: Fax: [email protected] GWERU MIPF Building 7th Street P O Box 688 Tel: Fax: [email protected] MASVINGO ZIMRE Centre Hughes Street P O Box 306 Tel: Fax: [email protected] MUTARE Manica Centre 118 Herbert Chitepo P O Box 331 Tel: Fax: [email protected] CHINHOYI Barclays Building 5308 Magamba Way P O Box 305 Tel: /25425 Fax: [email protected]

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20 2 0 N i c o z D i a m o n d C o m p a n y P r o f i l e How May We Help You? Customer Complaints/Compliments NicozDiamond underlines the fact that it is a customer driven organization which is responsive to customer complaints and resolves complaints fully and in the shortest possible period. For all customers the first port of call for a customer to complain or compliment is at their branch/unit where the Unit Heads/Branch Managers are expected to resolve their problems promptly and efficiently. Customers can lodge their complaints or compliments in the register found on all branch/unit counters. The customer can also get in touch with Marketing & PR Division through: [email protected] Telephone: Head Marketing direct line: