First Sun targets high net worth clients
Pauline Dikuelo | Thursday December 1, 2016 16:09
The product, which is done in partnership with Botswana Insurance Company Limited (BIC), targets executives like chief executive officers (CEOs), chief operation officers (COOs), chief financial officers (CFOs), directors and managers. Speaking at the launch, FSIB general manager, Walter Mutapuri said the product allows customers extensive value-added services, as well as other privileges which include discounted car tracker, credit shortfall extension, emergency hotel accommodation, car valet, massage therapy amongst others as well as an unique opportunity to insure a third vehicle for free.
“Additional insurance benefits include preferential rates, personalised service with fast turnaround times and fast track claim settlements,” he said.
In additon Mutapari said The First Sun Executive Plus Policy has extended covers that suit their customers’ lifestyle, preferential rates, value addition services and benefits, personalised service with fast turnaround as well as fast track claim settlements. For his part, FSIB managing director, Paul Chitate said they found a niche in the market and decided to bridge it noting that the product has allowed them to explore their potential while looking after both the individual and corporates needs.
“We believe that with this new product, we have realised a core insurance solution specifically for executives which is currently not available in the local market. This product has allowed us to bring something exclusive, which has created the flexibility for us to react to this particular target segment’s needs regarding both the product itself and the user experience,” said Chitate. FSIB operates through three divisions, namely Short-Term Insurance, Group Business and Risk Management.
The company strives to be continuously relevant to client’s needs at the same time ensuring that appropriate attention is given to all clients. First Sun’s main business is to manage risk and ensure that client’s investments and properties are secure and sustainable. The company is an established industry entity in Botswana and it is on course to come up with more innovative products to suit the market.
“We have a solid track record of creating value in insurance and we continue to see large opportunities in this sector. We have designed this comprehensive product which allows executives to manage all their personal insurances under one platform,” added FSIB executive director, Tiny Kgatlwane.
First Sun Alliance was founded in 1999 by Chitate. In April this year, shareholding was diversified to include citizens who now hold majority share in which Kgatlwane, Tebatso Lekalake, Keneilwe Mere and Kgaotsang Matthews have acquired a majority stake.
It provides short-term, long-term, offshore investments, fund and asset management, as well as risk management.
Their partners include BIC, Tracker Botswana, Emergency Assist, Sparkling Auto Care Centre, Vantage Properties, Legal Guard and Camelot Spa.