• Through BIHL, BIC has contributed to the P4.5 million which will go directly into the Government COVID-19 Relief Fund
• Free COVID Bereavement Cover extended to all BIC Policy Holders
• Premium deferrals and discounts provided to affected qualifying clients
• BIC brings financial relief to its intermediaries
Short term insurance giant Botswana Insurance Company (BIC) continues the fight against COVID- 19 by contributing towards Botswana Government’s relief Fund. The much-needed resources will bolster the health sector’s containment strategy.
The contribution was made through BIC’s Holding Company - the Botswana Insurance Holdings Limited (BIHL) Group.
“As corporate citizens we have a duty towards driving hope and making life better in the communities we trade and who form part of our ecosystem. Covid-19 does not only threaten our existence as human kind, it is devastating our economic fulcrum as a country. We stand with the Government in this fight. We will prevail. I hope this contribution will go a long way in assisting our very brave frontline health workers find this pandemic and help defend the well-being of Batswana during this difficult period,” says BIC Chief Executive Officer (CEO) Newton Jazire.
BIC has also pledged further support to the different business constituents such as clients, independent financial advisors, agencies and brokers to ease their financial burden during period of Extreme Social Distancing.
The economic impact of this period will be huge. In this respect, BIC has made funds available to support specific value chains and clients.
This support will be communicated directly to them and will consist of a blend of financial support to all stakeholders.
We are all aware that this pandemic has the potential to devastate populations and economies of scale across the world and we know that the economic growth in all BIC markets will be lower than anticipated, with some expected to enter recessions as the lockdowns in some of our operating countries impact the growth of new business.
However, we remain confident that the BIC has the resilience to withstand the current conditions. We have a solid balance sheet and the best expertise available in the market to execute our strategy and deliver value to all our stakeholders.
Through our continued collaboration, we will get through this challenging period. Remember, together we are better.
BIC recognises the financial burden the COVID-19 pandemic will have on its valued clients. Plans are in place to alleviate this strain by offering qualifying clients the following benefits:
• 30% Reduction in Individual Motor Policy Premiums for all clients in good standing.
• Premium rescue package for our clients in, Hospitality, restaurants and bar businesses has been put in place. Please contact your broker, agent or BIC directly for more information.
• All BIC policy holders and their immediate family, will enjoy free COVID Bereavement cover to the value of P10 000.
In order to assist our nation’s youth, BIC will make available additional funds to its “Corporate Social Responsibility” Partner, The Broadcaster’s Organization. These additional funds will be used to enhance their current BIC Motshwao IT system to provide support to schools registered on the system.