Securite Assurance started its operations in the late 50’s, making it one of Lebanon’s oldest insurance companies. Today the company holds a robust financial standing backed by one of the highest capital in the market (15 Million USD). With 10 branches covering Lebanon, Securite Assurance issues over 300,000 policies every year with a clear differentiator in service excellence. The company is also present in the broader MENA region as a leader in cargo and travel insurance. Since 2014, Securite Assurance conducted an assessment which led the company to realize that unlike in developed economies, the insurance market in Lebanon suffers from a lack of customer compassion. It noticed that customers are viewed as claim numbers, not individuals. This realization defined Securite Assurance’s purpose to become a customer obsessed insurer, to the point that it becomes the obvious and evident insurance partner, the top of mind insurance brand. In light of this, the company started an inside‐out transformation journey. The first step was to secure the buy‐in of the company’s most important asset: its team. This helped promote abled employees to lead the company’s transformation and part ways with those who did not prove to be strategic fits. Most importantly, the internal alignment helped securing that all employees move in the same direction… towards customer satisfaction. Today the transformation journey is done and the company became a benchmark in customer satisfaction. In terms of claims handling, a key overarching philosophy is being practiced and that is to grant each claimant’s right as quickly and as hassle‐free as possible, albeit with generosity and flexibility. The company also scaled up its customer service and broker divisions to be able to handle requests as efficiently as possible. And as evidenced by the feedback, the service being offered set a new standard in the industry. In terms of product and pricing, the company developed a simplified offering with best‐in‐class benefits and prices, as well as generous commission structures. Online systems were developed to enable brokers to do almost all their job from their offices. Going forward the company plans to use innovative solutions to further improve its service levels. For example, the company developed an App that enables brokers to do almost all their work from their mobiles. With the help of its prominent agency NINETEEN84, the company will also keep on unleashing nation‐wide campaigns to further communicate its commitment and ‘reason of existence’: customer satisfaction. Finally, the company will keep on investing in its people infrastructure because providing a great service is in reality a by‐product of having a great culture. The result of the company’s transformation was stellar: A 35% growth rate in 2016 and that’s 10 times more than the industry’s growth rate. And 2017 looks way more promising, because during the first quarter the company already achieved a nominal growth way more than the whole 2016 year. To celebrate these stellar results, Securite Assurance gathered 450 invitees from industry stakeholders to socialites in a grand event that took place on May 23, 2017 at the Lady Cochrane Sursock Palace.
Top Posts
