Finlay Insurance Brokers obtains ISO certification

Tuesday, 10 July 2012 01:24 - - {{hitsCtrl.values.hits}}

Finlay Insurance Brokers Ltd. (FIBL) was recently awarded the ISO 9001:2008 certification for excellence in Quality Management Systems by the DET NORSKE VERITAS, Sri Lanka Branch.

The company, a wholly owned subsidiary of Finlays Colombo PLC, is among the leading property, casualty and liability insurance brokers operating in Sri Lanka. Finlays have been involved as insurance intermediaries in Sri Lanka since 1893 and insurance is the oldest continuing business stream for the parent company.

The subsidiary represents all licensed insurers operating in the market and has representations of a number of well-known global insurance intermediaries including Aon Global Insurance Brokers Pvt. Ltd. FIBL is therefore able to combine excellent local knowledge and relationships together with globally benchmarked solutions in dealing with its clients.

Whilst the key focus on the division is on the large corporate segment of the market, in the recent past an additional thrust has been made in offering solutions to the insurance requirements of individuals. Branches in Katunayake, Kurunegala and Kandy (with more planned to be opened in the next two years) help the division in its secondary focus on services to individuals.

FIBL Director T. S. Arulanandan said that he was pleased with the ISO QMS certification of his company. “We are committed to delivering excellence of service and strive to deliver value to any client or principal who chooses to deal with us. This value is contained in the repute of our parent Company, our service delivery, the technical knowledge available with our teams and with our international and local partners. Moreover, we have a unique history of helping many clients with large losses. In what is a traditional and technical industry, we are committed to presenting innovative solutions to our clients for their insurance and risk management requirements,” Arulanandan said.

He also said that given insurance is a highly technical field, the relationship between the insurer and the client can be lopsided with the insurer having a full understanding of the product on offer but the client, at best, having only a rudimentary grasp of the “fine print”.

The insurance broker rights this balance in that the broker represents the interests of client to the insurer, not only during the time the policy is transacted but also at the time of a potential claim. “The ISO certification helps us to streamline our operations and in delivering consistent, reliable services through efficiency in systems and processes,” he said.

“As a company, we are committed to long term relationships and sustainability, and believe the Quality Management System and certification will assist us in constantly improving our level of service delivery,” Arulanandan added.

Finlays Colombo PLC is a member of the Swire Group.