Insurance underwriting should integrate with the clients risk management procedures and established practices ensuring that the benefits accrue directly to clients by way of innovative cover options and effective pricing structures with delivered value through closer integration of product to customer, writes Paul Halley, Managing Director of Ascent Underwriting Managers.
Ascent Underwriting Managers, an authorised financial services provider (FSP 35519) is a specialist niche underwriting manager that provides integrated underwriting and risk management solutions to select insurance brokers with portfolio’s in the well integrated Tourism, Hospitality and Entertainment Sectors.
Ascent combines the dynamic approach of Infiniti Insurance and the proven credentials of the respected and long established Swiss Re brand with a dynamic delivery based approach to business with innovation, entrepreneurial flair and extensive experience of over 15 years in the underwriting management market and, particularly, the Hospitality and Tourism Sectors.
Ascent only conducts business via select accredited licensed brokers and believes it will become the market respected underwriter with a clear vision for the future. It’s corporate vision is to be:
“The partner of choice to select Tourism, Hospitality and Entertainment Sector operators, ensuring their sustainability through integrated, quality driven risk transfer and management solutions.”
The primary focus of this enterprise is on sustainability and a holistic approach to risk management through the development of partnerships. Ascent is committed to providing a supportive role to it’s target segments in South Africa and Namibia, which are not only the most exciting and vibrant commercial sectors in the country, but are also essential to the success of the economy and the future of these countries.
Our vision will not only be evident in our policy design and claims servicing ability, but also through our distribution model strategy and initiatives aimed at pro-actively dealing with sector specific challenges and risk factors on a broad level.
To achieve this and to ensure that our initiatives are easily recalled, our insurance product bundles are all prefixed with “THE”. This is an anagram for TOURISM, HOSPITALITY and ENTERTAINMENT, and includes the following service categories and disciplines:
- Providing simplified and innovative product bundles to the Tourism,Hospitality and Entertainment Sectors.
- Customising and branding user integrated products based on segment specific and individual client needs.
- Integrating underwriting and risk management with related services to provide a client specific, dynamic holistic solution to risk.
- Leveraging existing market experience, knowledge and extensive broker and supplier networks to position the brand in the Tourism, Hospitality and Entertainment Sectors.
One of South Africa and Namibia’s strongest differentiators as tourist destinations is our renowned climate. Whether it be the number of days sunshine we enjoy every year, our beautiful beaches, our rich bio diversity, our flora and fauna or ability to hold uninterrupted sport events, we rely on our weather. Although scientists are still debating over climate change we believe that we can all make a difference. This initiative supported via our website allows us to offer a paperless option on all policy administration. Fee discounts on this option are also available under certain circumstances.
It is commonly accepted that the perception of crime levels in South Africa can be a major limitation to the growth in tourism arrivals. Ascent has pledged a portion of it’s profits toward the Tourism Safety Initiative, a South African tourism industry initiative that is funded by TOMSA under the umbrella of the TBCSA and managed by SATSA. The funds are collected by the SAIA, who on 11 July 2012 handed over a cheque for R1.8 million to BACSA / tsi. We believe that all stakeholders need to play an active role in sustaining their industries. We hope to do our bit by improving crime intelligence and information sharing through this initiative.