After 44 years as an active player in the insurance industry locally, Botswana Insurance Company (BIC) has refreshed its brand to align it to the ever changing business environment.
Botswana Insurance Company (BIC) CEO Newton Jazire – speaking during the official rebranding recently – said the company found it fit rebrand after its 44 years of trading in Botswana.
He said rebranding is an endeavour to cement the company’s position as leading insurance provider locally and therefore acknowledging the enormous support from the parent company, Botswana Insurance Holdings Limited (BIHL).
According to Jazire, his company is aiming to be a superior short term insurance firm, which has the largest market share in Botswana.
He said the company boosts of superior products and services which have potential of wider market access as supported by its partnership with Sanlam Group through shareholding in the BIHL group.
The partnership guarantees market in over 34 African countries, hence placing the company on a good position to increase footprint.
“We have found it fit to undergo branding so as to keep aligned to the latest trends of doing business. Our new brand logo just symbolises our desire to offer insurance legacy that will be unmatched to the clients,” he said.
Jazire said the decision not to change the brand name was meant to conserve the rich insurance heritage that is associated with the company, maintaining that BIC is the first to issue insurance in Botswana in 1975.
The Minister of Investment, Trade and Industry (MITI) Bogolo Kenewendo said BIC’s re-branding comes at a right time when financial inclusion drive is a priority to all. She said BIC is one of the tried and tested insurance service providers.
“There is a high rate of insurance service providers in Botswana bringing a more diverse and competitive sector. For BIC to be re-branding is a way of withstanding competition by enhancing more of its uniqueness therefore remaining relevant to its customers,” minister Kenewendo said.
Botswana Life CEO Ronald Samuels said BIC has stood out to be one of the greatest contributing subsidiaries to their group’s performance. He said the company has also overcome pressures faced by the insurance companies to continue to be a reputable company
Samuels said the re-birth of BIC means a new dawn for BIHL group, adding that the re-branding aligns the company to the current needs and demands of the insurance.