COMPANY HISTORY
SIC Life Insurance LTD originally existed as the Life Division of the reputable multi-line insurer, SIC Insurance Company. In conformity with the provision of the Insurance Act 2006, Act 724, the Company was established as a fully licensed Life Insurance Company in 2007. On 10th March, 2022, the name of the Company changed from SIC Life Company Limited to SIC Life Insurance LTD in compliance with the Companies Act, 2019 (Act 992).
MISSION & VISION
With a vision of being the leading and most-trusted brand in our industry, we are committed to employing a highly motivated and efficient workforce to offer innovative, value-priced life insurance and other financial products whilst ensuring optimal returns to the shareholders.
PRODUCTS
Life can take an unexpected turn and put you and your loved ones in difficulty. How will you make sure your family and loved ones are protected if something happens to you? We have a range of insurance policies to help you protect the future and your loved ones if something happens to you. The right insurance policies will go a long way toward helping you safeguard your earning.
Products offered include Final Journey Plan Plus, Education Plan Plus, Ultimate Family Security Plan, Diamond Plan, Guaranteed Endowment Plan, Sika Plan, Group Security Plan among others.
OPERATIONS
SIC Life is financially sound and has the quickest claim payment turnaround time in the industry with a wide network of 23 offices nationwide. Currently, we are the largest and most reputable Life Insurance Company in Ghana controlling a significant share of the Life Insurance market. The Company has been adjudged the CIMG Life Insurance Company of the year for five (5) consecutive times (2010, 2012, 2014, 2015 and 2016) and the first Life Insurance Company to be inducted into the Hall of Fame in 2017 and was retained for the second time in 2019.
With our solid financial base, coupled with highly motivated and experienced human resource, SIC Life is well positioned to maintain its thrust in the Life Insurance Market through innovative products, excellent customer service, prudent management, and sound technical practices.
The Company’s strategic goals are achieved through effective monitoring and evaluation as well as prudent management of resources to optimize profitability and growth.
In 2020, our premium income soared from GH¢ 354,582,824.22 to GH¢ 402,104,748.81 with a new business of 27,546. The Company also boasts of a large sales force personnel who are readily available to serve clients across the country to sell its products.
CUSTOMER CARE
To bring service delivery to the doorstep of customers, the following initiatives have been introduced to enhance interaction with our clients: Mobile Insurance Clinics, State-of-the-Art Call Center, E-Payment claims module, E-collection of premiums, and various social media handles (ie. Facebook, Instagram, Twitter and LinkedIn). Ultimately, the Company is able to reach as many clients as possible to address their concerns, educate them on the products and services, as well as provide them with information regarding the status of their policies. Also, customers have been delighted in terms of claim payment being made via mobile money interoperability and other payment models such as E-redemption and E-banking. Risks associated with collection of premiums in cash have subsequently been reduced.
Moreover, in the wake of the novel Corona virus pandemic, the Company has been strictly adhering to all the safety protocols communicated by the World Health Organisation and the Ghana Health Service.
The Company engages an independent research company annually to undertake a customer service survey as part of its process to understand clients’ needs and expectations. This provides the company with valuable information to be more responsive to customer needs.
CORPORATE SOCIAL RESPONSIBILITY
SIC Life has not relented on its vision of being the most-trusted brand and its tag line of being ‘A true friend for life.’ The company demonstrates its commitment to the society through socio-economic initiatives for the development of the society.
Our holistic approach encompasses working and collaborating with selected institutions that seek to positively impact on the communities they serve.
SIC Life has identified various sectors of society for improvement and sustainability in relation to our corporate social responsibility activities. These include:
- Education
- Community / Youth Development
- Health
- Sports
- Industry Sustainability and Cooperation
The Company’s major CSR activity is in the field of Education and Community development. Having the firm belief that a sound and quality education is the bedrock for every nation’s development and success, the Company has consistently been a headline sponsor of the Ghana Teacher Prize Awards. This involvement in the award scheme and other educational projects is aimed at helping to improve education and shape future generations.
Our support in youth development, training and rehabilitation of our most vulnerable in the society and sponsorship of industry-oriented activities has proven that SIC Life is committed to contributing to the growth and improvement of our community and society at large.
CONTACTS
Sign up to any of our tailor-made products now by calling us on 0302750151/ 0501570652/0501456983(whatsapp only) or visit our website www.siclife.com.gh to know more.
