“Practicing gratitude and celebrating milestones and victories”, Brené Brown makes this important leadership point in her recent book, ‘Dare to Lead’.
As part of our ongoing transformation, ICBL is certainly following that lead. We have adopted a position to bring about change by “braving trust and courage”, where leaders are encouraged to celebrate small victories with contributors at every level.
Our customers asked and we delivered innovative, convenient solutions. We continue to invest in providing exceptional customer service, ensuring that our engagement is seamless and excellent. Launched in July 2019, easyINSURE provides a safe and secure environment where quotes and purchases for home and motor insurance can be transacted online. The staff of our Group Health clients are more productive, engaged and living improved, healthier lifestyles because of our easyWELLNESS program. This initiative revolutionized preventative health care in Barbados by monitoring potential risks and providing the best advice in the health and wellness industry.
A trusted insurance advisor, leading in the provision of novel solutions that avert unwarranted risks, ICBL delivered the first ever parametric insurance solution to the Barbados hospitality sector. No longer do hospitality providers have to bear the losses due to severe weather systems that threaten operational ability, as parametric insurance provides a progressive solution to mitigate against loss of business due to hurricane systems.
Building a high performance team and engaging our staff in our business success is etched in our DNA. We’ve trained our teams and will continue to develop them professionally and personally; shaping them for the future marketplace and the new ways of doing business. As we maximize on new technologies and advance in our efficiencies, a culture of collaboration, boldness and creativity will be fostered. We celebrate the successful launch of the ICBL Women’s Interest Network (iWIN) and ICBL Men’s Advancement Network (iMAN) and through these groups we are laying the platform for continued development.
As it relates to our corporate responsibility, we continue to demonstrate our commitment to our communities, working with the Government of Barbados to provide solutions to enhance the environment in which we operate. From preventative health care to youth initiatives, we have leveraged our finances and expertise towards community development. In September 2019, we launched the first ever ICBL National Junior Spelling Bee competition, positively influencing the culture of reading amongst our nation’s youth. Additionally, we contributed to a safer Barbados, through our partnership with the Royal Barbados Police Force by providing several closed-circuit cameras to buttress citizen security.
ICBL is commited to our communities, working with the Government of Barbados to provide solutions to enhance the environment in which we operate.
Our strategic partners are vital to our success and we continue to work together towards common goals. Through continued application of new technologies and the creation of bespoke product offerings, we have established a framework for sustained growth in an evolving marketplace. We embrace our ecosystem of partners and our aim is to continue to deliver trusted, innovative products and services.
We continue to bring comfort to our shareholders as we aim to deliver each and every time. We recently retained our A.M. Best rating of A-(Excellent), demonstrating our commitment to excellence. ICBL is recognized globally for our financial strength and creditworthiness, our ability to insure major catastrophic risks and meet ongoing policy and contract obligations. These characteristics position us for continuous growth.
The future is indeed bright, and we will forge ahead seeking greater opportunities to augment the company’s standing and further generate positive returns for the benefit of all our stakeholders.
The Insurance Corporation of Barbados Limited (ICBL) is Barbados’ only composite insurance provider, writing business in all areas of General, Life & Health Insurance. A stable and strong market leader established in 1978 as a statutory corporation and subsequently privatized in December 2000.
ICBL has developed a sound reputation in the financial services sector in Barbados and has maintained a consistent A.M. Best A-(Excellent) rating. Our stakeholders have confidence in our financial stability and in the fact that our capital reserves exceed statutory requirements.
ICBL proudly serves the interest of over 2300 shareholders inclusive of institutional investors and individuals. Our shares, which represent 48.3% of the company’s ownership, are traded on the Barbados Stock Exchange. BF&M Limited in Bermuda, through its wholly owned subsidiary, Hamilton Financial Limited domiciled in St. Lucia, is the major shareholder with approximately 51.7% interest in the issued and outstanding shares of the company.