December 3, 2021

SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

, SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

My journey at Hamilton Insurance

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, SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

The Sunday Mail

, SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

Sunday Mail Reporter

A journey of a thousand miles begins with a single step. The same can be said of Hamilton Insurance from inception to date.

The first step into the insurance industry was not an easy one as there were already many established players in the market competing fiercely for the piece of cake that the company had to share with.

It was like stepping into a crocodile-infested river.

The company opened its doors to the public in 2011, which was a very difficult time to open a company as the economy had dollarised.

The public’s disposable income was low to be spared on luxuries including purchase of insurance.

Therefore, it was very difficult to build reserves for settling claims and other obligations the company was faced with. However, through its resilience and dedication to push its product to the public, the company managed to overcome these challenges as the business grew.

In a bid to grow its pool of premiums, the company knocked on the doors of various insurance brokers for business support.

Most of the brokers were very skeptical of new insurance companies as some companies had closed shop because of various reasons.

To safeguard their entities, the brokers requested for a long list of requirements to be met before they could engage Hamilton Insurance as a business partner.

The company overcame this obstacle by developing a vibrant agency network and a book of direct clients.

The unstable exchange rate negatively affected the company as the cost of running the business escalated on a daily basis.

The cost of claims (which is a major cost in any insurance company) kept increasing as vehicle repairers argued that they were sourcing foreign currency on the black market.

This cost was passed on to the company, resulting in minor claims costing more than what was initially budgeted for. However, the company employed various strategies to remain viable and profitable.

Through various efforts by the company’s board of directors, management and staff, the company grew in strength and profitability making it a force to reckon with in the local insurance market.

The company’s long-term strategy is to be the leading insurer of choice.

The company participated in various social responsibility programmes such as the ones noted among others: –

◆ Covid-19 relief by distributing food hampers to villagers in Rushinga, Binga and Mvurwi

◆ Building of classroom blocks at Chitemamuswe Primary School in Centenary

◆ Insurance awareness campaign held in Chinhoyi

Having developed and implemented various strategies, the company’s outlook is promising. The insuring public has gained confidence and trust in the Hamilton brand. The company is gradually meeting both its short-term and long-term objectives.

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