After 35 years of doing business in this country, the Insurance Corporation of Barbados has changed its corporate image.
This morning, a rebranded ICBL and new logo were launched during a ceremony at its Roebuck Street headquarters, St. Michael before a packed auditorium of management and staff.
Chief Executive Officer, Ingrid Inness told the gathering the company had not only changed its logo, colours, uniforms and updated the physical environment of its plant, but also modernised its vision.
“We have also modernised our vision for ICBL in order to make it the leading financial services provider in Barbados and the region,” Inness declared. “While ICBL remains committed to being there when we are needed most, a major part of our rebranding is also the promise we are making to always deliver our best, to exceed the expectations of our customers and all of our stakeholders and to be the strongest, most innovative and caring financial services provider in the markets we serve,” the CEO added.
She noted that the process, which started over 18 months ago, was as much about a new ideology and approach to providing “superior” quality products and services to stakeholders, as it was about changing the look of the corporation.
“We want to do more than look good; we want every ICBL experience to be as good or better than our impressive new image,” suggested the top executive.
Inness made it clear the company, whose modus operandi was truth, trust and transparency, had no intention of deviating from its track record of integrity. She said the rationale for rebranding, even though the company already had a “solid” reputation and has done well for many years, was to meet the changing needs and demands of changing times and customers.
Senior Vice President and Head of the Life Division, Henry Inniss revealed that ICBL had been performing well in its life insurance porfolio.
“We are seeing a tremendous response to our life products. We’ve grown about 30 per cent year on year, 2012 compared to 2013. I think that outstrips the growth of most companies in Barbados right now. We will continue to roll out different options to the public. Stay tuned, you would probably hear from us, just after Christmas,” he said.
Deputy CEO and Head of the General Insurance Division, Goulbourne Alleyne disclosed that ICBL would be adopting a new approach to delivering service and products to its customers, particularly the younger age groups. He said the idea was to be more customer friendly in all the areas which the company functions.
“At the end of the day, insurance is such a nature that you have to ensure, obviously that whatever business you underwrite, you underwrite obviously to the best of your ability based on the information that you have. So we are working very hard with our PSV insurers to make sure that we provide them with the best service and price as possible that you can. Obviously that is based on their claims experience over a period of years. The premium that we charge to them, would be commensurate with the risks that we actually underwrite,” asserted Alleyne.
ICBL is also considering expanding its 30 per cent non-life market share in Barbados as well as seeking to make inroads into the regional insurance business sector. New products are also in the pipeline. (EJ)