EAGLE INSURANCE: Creativity, Integrity, and Innovation Ensure Mauritians Flock to Eagle
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Eagle Insurance is one of the leading insurance companies in Mauritius and provides comprehensive insurance solutions across a broad range of sectors. Its newly-appointed CEO Sattar Jackaria, an actuary by trade, explains that although Eagle Insurance has been transacting all classes of short-term insurance business for nearly half a century whilst earning a solid reputation along all these years, it cannot afford to sit on its laurels amidst the stiff competition on the island. He further stresses that Eagle Insurance needs to continuously improve its offering through further investment in technology, upskilling & empowering of its staff, developing new product features but more importantly, delivering an irreproachable customer service in order to keep it firmly on its perch.
Having started operations in January 1974, Eagle Insurance has notched up nearly half a century in this most competitive of Mauritian markets and built up an extensive portfolio of customers, from private individuals to SMEs and large corporates.
“Our specialist position in the market allows us to bring significant benefits to our clients. With an unparallel blend of expertise and experience, we are able to offer tailor made and innovative insurance solutions to our clients,” explains CEO Sattar Jackaria.
“Being in the services industry and insurance being quite a complex field, one of the key ingredients to be a leading insurer is to have a passionate and highly experienced workforce that will go the extra mile to meet the needs of the client. It goes without saying that you also need to have the financial muscles to meet the claims when they arise. Eagle Insurance is proud to boast a strong balance sheet that is managed judiciously and protected by a panel of trustworthy reinsurers with whom it has forged strong relationships. In addition, Eagle Insurance is privileged to have IBL as its main shareholder, the largest conglomerate on the island.” Based on its sound practices and operational excellence, Eagle Insurance prides itself on delivering a high level of customer service to meet its clients’ evolving and more demanding requirements.
OPERATIONAL EXCELLENCE
Eagle Insurance has historically been providing insurance to mainly businesses. These businesses usually use brokers to advise them on their insurance requirement and help them choose the best offering on the market. By virtue of this legacy, Eagle Insurance has established close working arrangements with most of the brokers on the island, to better meet the needs of businesses, with policies ranging from building insurance to employee benefits like personal accident and health insurance – the full spectrum of what a business should take out as insurance protection. “We have earned the trust of most brokers and their clients alike” Jackaria reveals.
As a testimony to this specialist expertise on the corporate market, Eagle Insurance is the market leader on the marine side. “We are the market leader on the marine side. This includes cargo and hull insurance taken out by businesses. Moreover, we have leveraged on this expertise to create a policy for those wanting to insure their own personal pleasure craft.”
Moving forward, Jackaria stresses that the focus would be on consolidating this corporate market segment as well as to use this expertise to develop its presence on the individual market.
“In order to take the business to its next phase of growth, we need to strengthen our positioning on the corporate segment but at the same time adapting our processes to cater for individuals” while remaining aligned with the broader Eagle Insurance vision, Jackaria divulges.
“We will strive to be the insurance partner of choice for businesses but also for individuals by customising our products and services to their needs.”
PROXIMITY AND PROMPTNESS
Formally appointed in July 2023, following an interim period, Jackaria, a seasoned professional with more than 20 years’ experience in the financial services sector coupled with a deep understanding of the local insurance landscape, is well-positioned to take Eagle Insurance forward.
Strong leadership qualities and the ability to foster positive team spirit across the company were additional corollaries that served to make Jackaria the ideal man for the job. “For the past 7 years at IBL, I was entrusted to define the strategy and of the different businesses within its financial services cluster and to drive them forward. I am humbled to take on this new challenge at Eagle Insurance” he offers by way of context.
“Over the last three months, I have enjoyed working closely with the team internally to fine tune our strategy,” he says.
“We have also consulted with those who we service, and what has emerged is our closeness, proximity and promptness to respond to queries and settle claims that collectively differentiate us.”
A flat organisational structure is behind the ability for Eagle Insurance to establish a close working relationship with its stakeholders. “At Eagle Insurance, our people aim to deliver the same level of service to all our clients irrespective of their sizes or importance. We have found that this humility has helped to respond to the needs of our clients promptly and efficiently.” What comes across in all that Jackaria describes is the core Eagle tenet of putting people first, ensuring that staff, clients, intermediaries, and any other stakeholders are firmly at the centre.
RAISING PROFILE
“Within the corporate segment, Eagle Insurance is well-known” he admits. “However, if you were to ask the layperson in the street to name an insurance company on the island, Eagle would not be the brand enjoying top billing in most cases – even unknown by many.”
“If we wish to really make an impression on the individual market , first and foremost we need to work on our brand recognition, our visibility, and our value proposition. We are going to focus a lot of energy and resources on this area over the course of the next few years.
“Recruitment and human resources are equally high on the agenda,” Jackaria wraps up. “With the shortage of experienced staff within the industry on the island, a true employee value proposition to entice the best of this current generation will therefore be crucial. Implementing these two fundamental aspects of the strategy will help business flow naturally and, in turn, keep Eagle Insurance aloft and soaring above the rest.”