Africa-Press – Botswana. After five decades in operation, Botswana Insurance Company Limited (BIC) says its continued relevance in the short-term insurance sector is rooted in consistency and adaptation.
“With 50 years as Botswana’s ‘Heritage Insurance Brand,’ our longevity is rooted in trust, adaptability, and a deep understanding of the Botswana market,” said Group Chief Executive Officer Newton Jazire in a written response.
He said the company’s approach has been to evolve alongside customers’ needs while maintaining strong governance, prudent underwriting and sound financial management. “Being a heritage brand has never meant standing still; it has meant growing responsibly while keeping our customers at the centre of everything we do,” he said.
Claims Process
BIC outlined a structured claims process aimed at balancing efficiency, fairness and transparency. A policyholder begins by notifying the insurer of a potential loss through multiple channels, including email, its website or in person.
“The claim notification is acknowledged, and a dedicated claim handler advises the client of necessary documentation required,” Jazire said. Once documents are submitted, an assessor is appointed to evaluate the claim, after which a report is reviewed against policy terms.
“The claim resolution has binary outcomes: paying or repudiating the claim,” he said, adding that the process typically takes between one and two weeks, depending on complexity and the timeliness of documentation.
He said all decisions are guided strictly by policy terms to ensure fairness, while dedicated handlers provide ongoing communication to maintain transparency.
Turnaround Times
Concerns around industry-wide claims turnaround times have persisted in recent years. Jazire said timelines at BIC depend largely on the nature of each claim.
“First and foremost, it is paramount to highlight that claims turnaround times depend on the type and complexity of the claim,” he said. The company has service level agreements with providers across the claims value chain to ensure timelines are met.
He added that automation is central to improving performance, particularly in providing clients with real-time updates. “Our turnaround times are closely aligned to industry standards, and we endeavor to even set a new benchmark as the market leader,” he said.
Product Strategy
BIC said it tailors its offerings across personal, commercial and specialized insurance by responding to shifting risks and customer needs.
“We recognise that the needs of individuals, SMEs, and large corporates are not static,” Jazire said. Engagement with clients and brokers informs product design, including adjustments for economic changes, climate-related risks and evolving lifestyles.
“For businesses, we focus on sector-specific risk solutions, while for individuals we prioritise affordability, relevance, and ease of access,” he said.
Digital Push
The company has also invested in digital tools to improve accessibility and customer experience. Jazire cited a redesigned website that allows customers to access information, make purchases and lodge claims without direct human interaction.
He said automation has been extended to claims allocation, enabling policyholders to receive handler details promptly, while a payment bot has been introduced to speed up settlements within stipulated timelines.
Financial Literacy
BIC says it views insurance education as part of its broader responsibility. Through corporate social responsibility initiatives, community outreach and media partnerships, the company aims to promote understanding of insurance and financial planning.
“We aim to demystify insurance by using clear, accessible language and practical examples,” Jazire said. He added that improving financial literacy contributes to a more resilient and inclusive economy.
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