Mission and Values

MISSION:


Osprey Underwriting Managers (Pty) Ltd.
is dedicated to providing Insurance products and business services that provide high quality protection and risk management so that the insured feel secure in their choice of insurance policy.

Together with our business partners, we intend to provide market expertise to the African continent, in addition to aligning ourselves to the ethics and standards of the Lloyds London Insurance Market.

Osprey Underwriting Managers (Pty) Ltd. intend to connect our customers and underwriting markets in such a way as to make them more productive and successful. We will assist our clients with dedication to the highest quality of client satisfaction, delivered with a sense of professionalism, individual pride, and company spirit.

WE AIM TO:

  • Create a specialist and niche underwriting entity in South Africa using local knowledge and relationships, coupled with London underwriting experience and the required expertise within the desired underwriting sphere.
  • Provide first class service and knowledge from all components within the Underwriting organisation.  All aspects will be covered to the highest level possible with the individuals involved.
  • Utilisie both the Lloyds of London and Non-Lloyd’s carriers to provide capacity through quota share and/or reinsurance to reduce exposure to the Insurance Company to a minimal during the start period.
  • Provide a niche and specialist Underwriting platform focusing on profit by risk selection, by offering the following as key focus areas:
    • Experienced market individuals and understanding of the products offered
    • Tier 1 service levels on both Underwriting and Claims
    • Strong relationships with Clients and Brokers by applying the objectives and outcomes as stated in our Treating Customers Fairly policies and processes
    • Accessibility to the key individuals and decision makers
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Osprey Underwriting Managers (Pty) Ltd. intend to extend their client base by incorporating an efficient marketing plan which will be compiled by the managers of the company using external specialists and experts to analyse market situations.

The key to success for us will be the quality of business services and products, personal contact, timely and accurate service, development of one-on-one relationships and a reputation of honesty and integrity.

Osprey Underwriting Managers (Pty) Ltd. has efficient structures in place and our intention is to retain and grow our small (yet capable) complement of staff to ensure we always do things right, and treat all customers fairly and with integrity to create an efficient and a well-controlled organisation.

 

OUR GOALS:

  • Profit:
    To focus on underwriting profit NOT premium income. Osprey Underwriting Managers (Pty) Ltd will only be successful in ensuring long term profit to its partners
  • Longevity with Underwriters Partners
    Targeting a maximum of 40% gross loss ratio per annum and across the underwriting cycle ensuring profitability to all stakeholders and long-term relationships
  • Growth:
    To grow the business at a rate that is both challenging and manageable by targeting well known clients and/or producers allowing the entity to expand into niche areas of business across Africa
  • Assistance:
    Alignment with a holding company who can assist with systems and structures to ensure Osprey Underwriting Managers (Pty) Ltd. grow to their full potential