Don’t Just Insure… Ensure
Writer: Phoebe Calver
Project Manager: Stuart Parker
Ensure Insurance PLC is no stranger to adversity, having transformed itself from a 13 product-business lacking performance, clarity and values to the present-day success story it has now become; a journey which directly reflects the Company’s commitment to meeting the needs of the people.
“We streamlined our retail products to four sectors - motor, life, education and home - which are the imperative insurance needs of the people,” explains Owolabi Salami, Chief Responsibility Officer at Ensure. “Introducing bespoke products into those four business lines set us apart in the industry.
“A prime example is in our motor sector where we introduced no depreciation, no excess, discount for ladies and middle-aged men (45 and above) and cash-back services. For the corporate market we have carved out a niche for ourselves in the aviation sector by securing the largest re-insurance treaty from the London market coupled with the enhanced capability to determine clients’ needs and great service.”
The Company has invested great amounts of time and resources in producing a bespoke system to provide for its clients. Over time, Ensure has established the use of analytic tools for intelligent business automation, and digitalised platforms to leverage cloud solutions such as Amazon Web Service, G-Suite and Salesforce.
In an era that is hugely focused on functionality, it has been pivotal for Ensure to keep up with this; with the introduction of a click-to-call feature via its website, customers are enabled to easily reach the Company whenever they need to.
According to Salami: “We have also upgraded our bandwidth expansion to help drive the internal business end-to-end, increased security level access to encourage bring your own device (BYOD) and to build digital trust with the intention of further driving customer online transaction.”
A new identity
Ensure Insurance PLC is domiciled in Nigeria and fully licensed to transact Life and General insurance business. In 2014 the Company was acquired by an investment firm named Greenoaks Global Holdings Limited (GGH), with the focus on building market-leading insurance businesses in emerging markets.
As well as building its reputation and calibre in Nigeria, Ensure Nigeria has also gained a human advantage, now boasting the uniquely talented professionals for the insurance sector who are responsive and entrepreneurial.
“Our Company has successfully deployed a functional and robust technology platform, in addition to its skilled and experienced workforce,” continues Salami. “We have streamlined our customer service business process which subsequently enables us to provide excellent services to our customers. The brand has successfully created a new identity which is modern and depicts excellence within the sector.”
Vault of knowledge
For the Company, having worked so hard to portray the right image over the years means that a huge focus needs to be placed on finding the right people for the job. The mission of Ensure’s Human Resources department is to guarantee that each and every employee remains motivated and engaged on the job.
“We have a structured recruitment process, one that is driven by the use of technology,” affirms Salami. “The use of behavioural and technical assessment tools like psychometric assessment and competency-based interviews are pivotal to selection; all of which is done to attract the right talent to the organisation.”
The Company’s on-board programme welcomes the successful candidates into the organisation, introducing them to the culture and core values that come with the job title.
At Ensure, We carry out retention strategies such as employee engagement activities, performance management, career advancement and progression training and development, flexi work-hours and a robust performance related variable compensation scheme; all of which are critical components to our strategy as our employees’ skill-set is developed in line with the competencies required for their job role.
Ensure has created a wide range of opportunities for learning and development programmes on the job to create a vault of knowledge through its employees. The opportunities include courses provided by technical reinsurance partners, professional training vendors, online courses and opportunities to develop competencies through internship programmes; all of which provide endless opportunities for growth which is beneficial to the employee, Company and clients.
Efficient and effective process
Ensure prides itself in delivering outstanding service with absolute transparency, designing products that will both aid the client in creating wealth, while also protecting their assets.
“We aim to work with both individuals and businesses with the aim of becoming a trusted insurance partner over a long period of time,” continues Salami. “Ensure can provide the perfect cover our clients need to protect what matters most to them. Buying insurance is an important investment in the future; therefore it is important to make an investment in choosing insurance that works for you.”
In order to sustain the high standards needed to best serve the people in the Nigerian insurance industry, Ensure has gone to great lengths to obtain a dynamic crop of talent to drive the Company forward.
“Our staff have the support of efficient and effective processes primarily driven by technology,” Salami concludes. “A prime example of this is our new all-integrated insurance application: the portal we have created fully integrates all business activities from booking B2B and B2C policies to claims processing, which drastically reduces our turnaround time.
“We are able to book retail policies in two hours and settle retail claims in less than 24 hours, however, we make sure not to rest on our laurels, focusing on our pledge to consistently exceed the expectations of our customers.”