NICO General awards best brokers

As one way of appreciating the good effort and strengthening  relationship among its stakeholders, NICO General on Thursday awarded the best performing brokers of 2022.

The awards were presented at a gala dinner at Sunbird Mount Soche in Blantyre where NICO General Chief Executive Officer, Donbell Mandala said they decided to organize the event in order to show how much the company values its partners.

The brokers pose for a group picture with NICO management after the awards

He emphasized the importance of their presence, which he said cannot and should not go unnoticed but rather be recognized in a special way and make sure they are well taken care of.

Mandala highlighted that the company has been successful by reaching where it is today because of the big contributions made by their brokers within the years.

“The brokers give us about 55% of business, which is good contribution,” he said. “For example, within 2020 and 2021 it was a difficult time for business to make more income due to CoVID-19 pandemic.

“But with the presence of our partners and agencies, we managed to have an income growth by 21% — which was not easy and for these reasons we feel that they deserve to be recognized,” Mandala said.

Insurance Brokers Association of Malawi (IBAM) president, Clement Ndala commended NICO General for showing commitment in recognizing the brokers and organizing the awards event, which he said helps to bond the brokers and insurers together.

He also said the awards ceremonies are also forums where they discuss various challenges being encountered, saying: “This is one of the  great platforms where we can brainstorm and share crucial ideas and on how we can strengthen our relationship with NICO.

“So, we are very thankful to NICO for coming up with this event, which is more important to both parties in as far as addressing challenges and bringing new ideas is concerned.”

Overall winner among all the brokers is Marsh Malawi Limited for contributing a number of businesses as well as quality business with less claims.

Marsh Malawi’s Managing Director, Mphatso Chadzala described professionalism, honesty and dedication among the staff members as the major secret to the achievements.

Insurance Agency received the Top Agency award while Bancassurance category went to NBS Bank Limited.

In Brokers Awards, Minet Insurance Broker got the Debt Collection category, Lowest Loss Ratio was given to Hurbetus Clausius Malawi Limited, Mahogany Insurance Broker Limited was awarded the Most Improved Growth Company while Kingfisher Insurance Broker got the Major Motor Contributor.

The Most Compliant category went to Rhino Insurance Limited while the Top Broker was won by Marsh Malawi Limited.

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