Sainimili Magimagi 
[Photo: FILE]
Competition in Fiji’s insurance sector is expected to intensify following the launch of Ama Insurance Company Limited, with the company promising product innovation and improved customer service.
Chief Executive Officer Tarcholan Singh says competition benefits consumers and could help address the country’s low insurance uptake.
“We want to ensure that people understand what insurance is, and they can make up their minds to have it or not to have it. Ultimately, it’s the choice of the consumer, but we want to give that choice”
He says while most insurance products are broadly similar, Ama plans to differentiate itself through better benefits and faster claims processing.
The company will initially focus on personal insurance products before entering the small and medium enterprise market within months.
Singh adds that strong reinsurance backing from international partners rated A and above provides confidence in the company’s capacity to meet claims obligations.
He says Fiji was selected due to its growth potential and the opportunity presented by low insurance penetration.
The company was launched last night at the Grand Pacific Hotel, but its general issuance license was issues by the reserve bank in January.
AMA Insurance Company is a subsidiary of Apia Insurance Company Limited
Stream the best of Fiji on VITI+. Anytime. Anywhere.
