Evolving even ahead of the curve

stories by NICK NUNES

“THE FIRST TIME I joined ICBL was in 1983,” recalled the current CEO, Goulbourne Alleyne. Stretching back through the annals of time, Alleyne joined ICBL 40 years ago as a clerical officer where he served for five years before transitioning to another insurance company.

After three years, he returned to ICBL in 1989 for three years before transitioning to another competitor. Eventually, in 2012, Alleyne again found footing at ICBL. There is a calling that beckons back towards the excellence of ICBL that cannot be denied.

“There is something about ICBL that has kept drawing me back,” said Alleyne. For all its time, ICBL has made a name as a proven ground of impeccable training that has elevated and entranced the majority that have been a part of its journey.

“Persons that are now in managerial positions within the industry, a lot of them, had their first job here,” Alleyne confidently acclaims.

Today, ICBL is competing with other insurance companies and has pressed to become more agile and efficient as well as being more conscious of the needs of the customers. In the space of 45 years, ICBL is still one of the leading companies in Property and Casualty Insurance (P&C) in Barbados.

“That didn’t happen by chance, obviously. It happened by hard work and commitment for all those persons who would have been part of the growth and development of the company over the years. And we have maintained that position up to 2023,” Alleyne professed.

For Alleyne, a lot has changed in the terms of how ICBL does business, specifically in the terms of their delivery. From the digitisation of processes and the simplification of processes, along with product enhancements, ICBL continues to evolve alongside and, maybe, even ahead of the curve.

whole aspect of ESG comes into the conversation,” he asserts.

For ICBL, there is so much evolution taking place that concerns every aspect of life that adaptation is integral to continued service. With the move to more digital transactions, cybersecurity becomes a very real component of discussion as well.

“I can see further developments happening in terms of product solutions going forward,” Alleyne said. “We have a great team. When I say team, it’s a team, from executive right down to all levels of staff. That makes it easy for any leader. They have confidence in a team and they know that the team has the ability and capacity to deliver on their particular area of expertise.”

Goulbourne Alleyne, Chief Executive Officer. (SLD)

When ICBL first found its roots, it was owned by the Government of Barbados. In 2007, the company was privatised. In terms of the change from being Governmentowned to becoming privatised, the structure has evolved in the way they do business.

“The pandemic was the catalyst,” said Alleyne, “to actually promote a lot of the digitisation that is taking place right now. Before, there was hesitancy and reservation. The pandemic has fastforwarded plans of our delivery of services. There are further enhancements to happen. It’s not only about how we deliver products but how we enhance our products and simplify our products for customers.”

According to Alleyne, “I think there will be further changes in terms of development. Where the future lies is moving away from reference to products to more reference to solutions. As everything grows and develops, risks change. There will be a need for new solutions based on the new risks that will be presented.

“I believe we will see new solutions. There is a lot of discussion around alternative energy. There will be solutions speaking around how we treat to insuring those alternatives. Then, obviously, the

For Alleyne, “My message to the employees of ICBL would be very simple. In terms of the vision that I have for the company and the scope of our brand recognition, going outside of Barbados is always a definite possibility. You will see a company that will be evolving and growing and developing further and obviously looking to enhance and enrich the experience of each employee within the organisation. With growth and development comes obviously additional opportunity.

“As it relates to the customer base, what they can expect from us is a forwardlooking company. We are looking to roll out products and solutions that will meet their needs and their demands and also to roll out a delivery of service which will make it easy for them to do business with us.

“Then, for our shareholders, we will continue to add shareholder value through optimising performance, operation efficiencies, and effectiveness throughout the organisation, to make sure the company remains relevant and sustainable for the future.”