Home' Trinidad and Tobago Guardian : July 9th 2015 Contents JULY 9 • 2015 www.guardian.co.tt BUSINESS GUARDIAN
VERBATIM | BG13
motor • property • marine • engineering • liability • accident
For More Information visit one of our conveniently located branches island wide or contact your Broker today.
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Call 1-868-800-ICWI or email email@example.com
ICWI is a Caribbean company with a singular focus, to provide people across the region
with competitive rates and personalised service - offering a comprehensive
suite of products to protect the assets you value most. For nearly 50 years,
ICWI has been providing peace of mind.
Isn't it time you experienced insurance the ICWI way?
THE INSURANCE COMPANY OF THE WEST INDIES LTD.
Applying the law to the insurance industry,
can we not employ alternative dispute res-
olution and mediation as a mechanism to
resolve disputes between policyholders and
company? This is the use of a skilled, expe-
rienced certified mediator who can bring
the claimant and company together. It may
occur at the request of the parties or be
mandated by the court in court-annexed
mediation. Why should a beneficiary or an
accident claimant wait three to seven years
for justice and payment?
Ironically, insurance companies also prefer
to resolve matters. Let us think disruptively.
I am pleased to advise that these discus-
sions have commenced and have been wel-
comed by industry representatives. Doing
the same thing repeatedly will only yield
the same results. Once the ADR process is
agreed, and rolled out; it will give the insur-
ance sector the opportunity to make a trans-
formative step in service delivery and claims
settlement. I ask for your support as we
define the protocols going forward.
Disruptive thinking demands that we sys-
tematically ask what are the pain points
experienced by our clients.
Do clients still want to be collecting health
forms at doctors offices? Can we overhaul
our underwriting processes? Can I, as an
agent, develop an app, sized for any device,
to provide service 24/7/365?
Disney scored outstanding in service and
entertainment. But clients complained the
lines were too long. They introduced fast-
track and revolutionised the entertainment
How can we broaden our clientele access-
ing the Caribbean diaspora online using
ICT? Can and should our industry unlock
the vast real estate holdings using real estate
investment trusts to broaden investment
possibilities for our clients and earnings for
How do we push ourselves beyond tra-
ditional insurance into the full panorama of financial
services possibilities? Disruptive thinking is edgy; it
is uncomfortable, it is lonely and you will get adverse
feedback! It requires courage but is exponentially
rewarding (TATIL story---David Stephens)
Imperative No 3:
"Fame brings fast friends. Legacy requires courage
Enduring success, a legacy of greatness, requires
courage and integrity. Cyril Duprey, founder of Clico,
was a man of great courage, vision and integrity, rep-
resenting the best virtues of the industry. Louis Ros-
tant, Tatil s first CEO was another. Sydney Phillips
of Guardian was another. Our industry has many
more. You, our new generation, must lead the way.
Agents, as you become more successful, more peo-
ple will be attracted to you. Some will target you---
men and women. Many will propose investments to
you to seduce you into parting with hard-earned
Ninety per cent of the proposals are ill advised.
When asked whether the proposer is investing he
may say: "if I had the money I would have invested."
Red flag! Poor investment! Watch fast friends.
Manage yourself, manage your investments and
keep life simple: be humble, be gracious, be disciplined.
Keep God at the centre of your life. It is easy to
Courage and integrity are in short supply in our
country. As a country we must move away from the
slick answers and clichéd language to confronting
issues and responding maturely and decisively. That
is required across our country from president to pau-
per. There are too many unanswered issues. Post-
ponement and delays in addressing these issues will
compromise our legacy and define societal values.
We must not only move forward economically, but
we must improve morally and ethically.
A legacy of greatness for the industry and the
country requires a new courage, at individual and
Eleven years have passed and much progress has
been made. What is exciting is the opportunity ahead
of us. The opportunity to build a new industry with
a menu of online services; an international financial
centre; alternative dispute resolution and new leg-
islation. We have always had passionate, committed
sales associates. I feel that passion this morning.
Let s harness that energy and passion and focus
it on building a legacy of greatness for future gen-
erations. I congratulate all of you and I am confident
that our best days are yet to come.
Courage, integrity are what's needed
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