One of the country’s insurance companies, Charter Insurance, has gone into a technical partnership with South Africa’s independent and privately-owned insurance group Hollard to improve its services in the country.
Under the technical cooperation, Hollard will provide support to Charter Insurance in the form of technical underwriting expertise, risk management services, reinsurance support for assets and specialist classes and claims support services.
Charter Insurance Company Limited managing director Isaac Phiri, in an interview, said on top of providing support, the cooperation is anticipated to enhance capacity and the ability to underwrite most complex risks and bring in an element of skills transfer and training thereby empowering their staff and management team.
“Hollard has expertise in technology, infrastructure, communication, tourism and bank assurance. It is for this reason that we are optimistic that this expertise will be made available to Malawians insuring the public through its technical cooperation with Charter Insurance Company Limited,” he said.
Phiri said with the partnership, Charter is certain to acquire some skills and that there will be formal memorandum of understanding for both parties in the near future.
The insurance firm’s board chairperson Victor Mbewe said everything has been done and the technical cooperation already rolled out early this month.
“Charter is already receiving full technical support from Hollard on areas of cooperation. In the near future, new products will be introduced on bank assurance and other areas,” he said.
Hollard is one of the largest independent and privately-owned insurance companies in South Africa and has operations and investments in Namibia, Mozambique, Botswana, Australia, India, Pakistan, China and the United Kingdom.