Botswana Insurance Company (BIC) is the longest and largest serving short term insurance provider in Botswana. With a current market share of 24 percent in a region with insurance penetration rates of below 3.5 percent, BIC provides exceptional insurance products and services aimed at specific markets.
Their offerings range from insurance covers for commercial lines of business such as fire insurance and public liability insurance; affordable individual policies such as house owner Insurance, householders insurance, and personal all risk, to specialised covers for the mining, construction and aviation industries.
BIC strongly believes in improving the quality of life for the Botswana people and the organisation’s mission is to continuously provide their clients with services and products that surpass expectation. With the aim of continuously improving quality of life, to meet their vision to be the insurer of first choice, and to grow Botswana’s insurance market BIC has started to develop new products. These products are focused on commercial policy, the lower income earner and niche markets such as agriculture.
BIC does business according to their corporate value system and believes that integrity, respect, communication, value creation, empowerment and development, and team work are essential aspects to success. The company has contributed tremendously to socio-economic development and employment creation in Botswana. Corporate Social Responsibility (CSR) is a crucial component of the business, and in 2014 BIC won a Vision 2016 award for its contribution towards social development, based on its sustainable partnership approach strategy for CSR.
BIC has made a significant mark in Botswana’s insurance industry and the company is passionate about opening up Botswana’s markets to the international investment community to grow the country and, on a larger scale, grow Africa as a continent and investment hub. They invest according to their philosophy ‘investing in Africa’ and only invest in African based and developed companies.
BIC can offer domestic, regional and international clients, partners and investors reassurance when investing in Botswana and the opportunity to be part of creating an African hub.
