The Executive Director of Enterprise Life, Mr C.C. Bruce, has said the company has achieved the number one position in the insurance industry with a market share close to 30 per cent.
The success story, he said, was as a result of improved customer service and the application of technology that had brought speed and convenience into its operations.
Speaking at the presentation of the 2015 Sanlam Summer School award to Mr Edward Nyarko, a member of the Institute of Financial and Economic Journalists (IFEJ), Mr Bruce said: “Enterprise Life has had increasing market share over the years; from 20 per cent in 2010, we had 27 per cent in 2014. The market’s half year results published show that we have achieved the number one position in the industry and this is likely to take our market share close to 30 per cent by year end.”
“This year, our focus has been on delivering high quality customer service. Early in the year, we appointed a Senior Manager for Customer Service to bring focus in this area of our business.”
He said the company had launched its customer service charter that would guide and direct its policy and behaviour in all branches and departments.
“We are continuing with technology application in our communication with our policyholders for both convenience and speed,” he explained.
Need for life assurance policy
According to him, life assurance is a tool that is used to show solidarity and it enables them to pool resources and pay compensation to policy holders who face certain specified life risks when due.
“Through life assurance, funeral expenses are assured for the widow or widower and children; the family breadwinner’s income is replaced, a child’s education is not curtailed and income is provided at old age,” he explained.
The life insurance industry, he said, had been providing such benefits with increasing quality over the years and it had reflected in the strong growth shown by the industry in the past five years.