Eagle Insurance - Enterprise Africa July 2023

Creativity, Integrity, and Innovation Ensure Mauritians Flock to Eagle

Creativity, Integrity, and Innovation Ensure Mauritians Flock to Eagle

Eagle Insurance is one of the leading insurance companies in Mauritius and provides comprehensive insurance solutions across a broad range of sectors. Its newly-appointed CEO Sattar Jackaria, an actuary by trade, explains that although Eagle Insurance has been transacting all classes of short-term insurance business for nearly half a century whilst earning a solid reputation along all these years, it cannot afford to sit on its laurels amidst the stiff competition on the island. He further stresses that Eagle Insurance needs to continuously improve its offering through further investment in technology, upskilling & empowering of its staff, developing new product features but more importantly, delivering an irreproachable customer service in order to keep it firmly on its perch.

PRODUCTION: Eleanor Sarbutt-King

Sattar Jackaria, CEO

INDUSTRY FOCUS: INSURANCE

//Having started operations in January 1974, Eagle Insurance has notched up nearly half a century in this most competitive of Mauritian markets and built up an extensive portfolio of customers, from private individuals to SMEs and large corporates.

“Our specialist position in the market allows us to bring significant benefits to our clients. With an unparallel blend of expertise and experience, we are able to offer tailor made and innovative insurance solutions to our clients,” explains CEO Sattar Jackaria.

“Being in the services industry and insurance being quite a complex field, one of the key ingredients to be a

leading insurer is to have a passionate and highly experienced workforce that will go the extra mile to meet the needs of the client. It goes without saying that you also need to have the financial muscles to meet the claims when they arise. Eagle Insurance is proud to boast a strong balance sheet that is managed judiciously and protected by a panel of trustworthy reinsurers with whom it has forged strong relationships. In addition, Eagle Insurance is privileged to have IBL as its main shareholder, the largest conglomerate on the island.” Based on its sound practices and operational excellence, Eagle Insurance prides itself on delivering a high level of customer service to meet its clients’ evolving and more demanding requirements.

OPERATIONAL EXCELLENCE

Eagle Insurance has historically been providing insurance to mainly businesses. These businesses usually use brokers to advise them on their insurance requirement and help them choose the best offering on the market. By virtue of this legacy, Eagle Insurance has established close working arrangements with most of the brokers on the island, to better meet the needs of businesses, with policies ranging from building insurance to employee benefits like personal accident and health insurance - the full spectrum of what a business should take out as insurance protection. “We have earned the trust of most brokers and their clients alike” Jackaria reveals.

TYSERS – A PROUD SUPPORTER OF EAGLE INSURANCE

Tysers is delighted to extend its congratulations to Sattar Jackaria, newly appointed CEO of Eagle Insurance Limited (EIL), and wishes him great success in his new position.

We are proud to have supported EIL for more than 30 years and offer a full suite of classes to accommodate all of Eagle’s insurance and reinsurance requirements. Tysers has provided insurance services to the African continent since the mid-1970s. Our acquisition of broking firm RFIB in 2020 increased our footprint and further enhanced our client offerings and capabilities in the region. Today, we work with both domestic and international insurers in the Mauritian and African markets and have the capacity, knowledge, and expertise to advise on all aspects of our clients’ insurance and reinsurance needs.

Client-first philosophy at our core

First established in 1820, Tysers has a client-first philosophy at our core. This client-centric approach, combined with a forward thinking and nimble approach to insurance and reinsurance, has stood the test of time and we have grown from a broker with less than 100 employees in the 1980s to today’s leading independent Lloyd’s broker with over 1,000 experienced and talented employees.

Our services continue to evolve as we embrace technology and enhance our offerings to better protect our clients’ businesses.

Headquartered in London, the premier insurance market, we have offices and associates around the world and trade in 140 countries across the globe. We provide creative and custom-made solutions to meet the specific needs of our global client base for consulting, broking and placing risks, technical wordings and claims handling; placing our business with Lloyd’s and other top-rated carriers.

Tysers, part of the AUB Group

In 2022 Tysers became part of the AUB Group, an ASX200 listed group comprising insurance brokers and underwriting agencies operating in 520 locations across Australia and New Zealand. Visit AUB Group for more details. The combination of AUB and Tysers creates a leading, international insurance broking group with a huge depth of expertise and capabilities with vast product offerings and specialisms.

For more information, please visit Tysers.com.

INDUSTRY FOCUS: INSURANCE

As a testimony to this specialist expertise on the corporate market, Eagle Insurance is the market leader on the marine side. “We are the market leader on the marine side. This includes cargo and hull insurance taken out by businesses. Moreover, we have leveraged on this expertise to create a policy for those wanting to insure their own personal pleasure craft.”

Moving forward, Jackaria stresses that the focus would be on consolidating this corporate market segment as well as to use this expertise to develop its presence on the individual market.

“In order to take the business to its next phase of growth, we need to strengthen our positioning on the corporate segment but at the

same time adapting our processes to cater for individuals” while remaining aligned with the broader Eagle Insurance vision, Jackaria divulges.

“We will strive to be the insurance partner of choice for businesses but also for individuals by customising our products and services to their needs.”

PROXIMITY AND PROMPTNESS

Formally appointed in July 2023, following an interim period, Jackaria, a seasoned professional with more than 20 years’ experience in the financial services sector coupled with a deep understanding of the local insurance landscape, is well-positioned to take Eagle Insurance forward.

Strong leadership qualities and the ability to foster positive team

spirit across the company were additional corollaries that served to make Jackaria the ideal man for the job. “For the past 7 years at IBL, I was entrusted to define the strategy and of the different businesses within

// AT EAGLE INSURANCE, OUR PEOPLE AIM TO DELIVER THE SAME LEVEL OF SERVICE TO ALL OUR CLIENTS IRRESPECTIVE OF THEIR SIZES OR IMPORTANCE //

its financial services cluster and to drive them forward. I am humbled to take on this new challenge at Eagle Insurance” he offers by way of context.

“Over the last three months, I have enjoyed working closely with the team internally to fine tune our strategy,” he says.

“We have also consulted with those who we service, and what has emerged is our closeness, proximity and promptness to respond to queries and settle claims that collectively differentiate us.”

A flat organisational structure is behind the ability for Eagle Insurance to establish a close working relationship with its stakeholders. “At Eagle Insurance, our people aim to deliver the same level of service to all our clients irrespective of their sizes or importance.

We have found that this humility has helped to respond to the needs of our clients promptly and efficiently.” What comes across in all that Jackaria describes is the core Eagle tenet of putting people first, ensuring that staff, clients, intermediaries, and any other stakeholders are firmly at the centre.

RAISING PROFILE

“Within the corporate segment, Eagle Insurance is well-known” he admits. “However, if you were to ask the layperson in the street to name an insurance company on the island, Eagle would not be the brand enjoying top billing in most cases - even unknown by many.”

“If we wish to really make an impression on the individual market , first and foremost we need to

work on our brand recognition, our visibility, and our value proposition. We are going to focus a lot of energy and resources on this area over the course of the next few years.

“Recruitment and human resources are equally high on the agenda,” Jackaria wraps up. “With the shortage of experienced staff within the industry on the island, a true employee value proposition to entice the best of this current generation will therefore be crucial. Implementing these two fundamental aspects of the strategy will help business flow naturally and, in turn, keep Eagle Insurance aloft and soaring above the rest.”

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