Elmo Insurance will differentiate itself through offering a quality and personalised service to its customers, pricing stability based on market and risk knowledge and robust statistics, and professional relationships with its reinsurance broker and lead reinsurers.
This objective will be achieved through the following high-level strategies:
- An on-going internal audit review focusing on:
- Underwriting – risk selection, policy cover, technical manuals, pricing, gross and net acceptance levels
- Reinsurance procedures
- Claims management
- Organisation
- Authority levels
- Claims management
Our business promise to our customers is to put things right, when things that they have insured against have gone wrong. Elmo Insurance will therefore maintain its attitude towards claimants that is:
a) Being available when it matters
b) Offering a fair and reasonable settlement within the terms of the policy
c) Ensuring a speedy settlement
By actively managing our claims processes, Elmo Insurance provides exceptional levels of service to its customers and controls the cost of claims, thus also gaining competitive advantage.
Complaints are taken seriously and a member of the Board is consulted on all occasions.
Claim reserves are controlled through technology with daily revisions taking place for all classes, including motor. There is a statistical base to monitor the adequacy of reserves.
The strategy to control the cost of motor claims is of vital importance to the profitability of Elmo Insurance in the long-term, and to its competitive advantage.
The current strategy towards our customers is underpinned through:
a) Customers recognising that Elmo Insurance is a safe home for their business
b) The respect that customers have for the knowledge of our management and staff
c) Stability in service, premium rates and terms
d) A personalised service at all times
e) Knowing our customers
f) Knowing what our customers want and providing solutions
