150914 Company Profile -...

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COMPANY PROFILE www.nestlife.co.za PROF NY E FIL www.nestlife.co.za

Transcript of 150914 Company Profile -...

COMPANY PROFILEwww.nestlife.co.za

COMPANY PROFILECOMPANY PROFILECOMPANY PROFILECOMPANY PROFILEwww.nestlife.co.za

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Company BackgroundOur Business PhilosophyVision, Mission, ValuesGroup StructureEmployment EquityBoard of DirectorsExecutive ManagementMiddle ManagementKey Element to SuccessCustomer CentricityClient Specifi c Product DevelopmentTechnologyValue for MoneyProduct Catalogue

Contents

NESTLIFE COMPANY

PROFILE

Established in 1988, NestLife has 3 decades of experience in the life assurance industry. It is 100% black owned and managed, led by CEO Vusi Sithole.

He fi rst bought 74% of the business in 1996 from Capital Alliance and acquired the rest of the Company in 1999.

Headquartered in Johannesburg, NestLife has offi ces in the Free State, Eastern Cape and KwaZulu Natal. Today the Company underwrites more than R300 million in annual premium income.

At NestLife, we understand why it’s important for companies to assist their employees to ensure a sound fi nancial future. We bring all our expertise and knowledge to structure the best life assurance benefi ts to suit your employees’ needs.

BACKGROUND

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OUR BUSINESS PHILOSOPHYWe are a relationship driven organization with a focus on the growth and success of our clients and business partners.

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VISIONNestLife is a specialist group risk

insurer that provides and administers comprehensive insurance solutions to

meet the needs of its clients.

MISSIONWe strive to be recognised as the preferred

partner that delivers value-adding solutions, through mutually benefi cial

relationships with our clients in our selected markets.

VALUESWE ARE SPECIALISTS!

WE ARE STRATEGY FOCUSED!WE PROVIDE EXCELLENT SERVICE!

WE BUILD RELATIONSHIPS!WE OWN OUR REPUTATION!

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GROUP STRUCTURE

PHAKAMA INVESTMENT HOLDINGS (pty) Ltd.

JOHN WEINBERG (pty) Ltd.

NESTLIFE ASSURANCE CORPORATION (pty) Ltd.

100%

100%

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EMPLOYMENT EQUITY

Ownership 100% 50%

Black Female

Board 67% 33%

Management 67% 67%

Operational 100% 45%

Agents 100% 61%

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BOARD OF DIRECTORS

Vusi Sithole has extensive experience in the insurance industry. He has held the position of CEO at Afgen Insurance and that of Senior Manager at African Life. He headed a subsidiary of Hollard Insurance as Executive Chairman. He is chairman of Phakama Investment holdings.

Mr. Sithole has a master’s degree in Business Administration from Business School Netherlands. He also holds a management diploma from Cranfi eld University School of Management (UK), Georgetown University (USA), London Guildhall University and the International Law Institute (Italy) In 2004, he won the ABSIP Career Achievement Award and in 2012, he was honoured with the coveted BBQ Businessman of the Year Award.

VUSI SITHOLE

Bridgette Modise, CIMA, BCompt (Hons), CA(SA), is a chartered accountant and was previously a partner at KPMG in the Risk and Advisory Services Division. She is the CEO of Kutira Capital, an investment and advisory services company she founded in 2008.

Ms. Modise has 15 years of experience in the audit profession. She is a Member of the South African Institute of Chartered Accountants and of the Certifi ed Institute of Management.

BRIDGETTE MODISE

Haydn Davies is a partner in the Corporate Practice of Webber Wentzel. He specialises in mergers and acquisitions, commercial law, aviation and insolvency and business rescue. Mr. Davies represents the South African interests of many of the world’s best known companies.

His expertise has been recognised by various international research organisations. Mr. Davies holds a BA (Honours), LLB and LLM degree from the University of the Witwatersrand. He also has a Higher Diploma in Advanced Company Law from the same institution.

HAYDN DAVIES

Brian Seach has over 40 years experience in the short term insurance industry and has moved through the company and broker ranks, reaching CEO and Chairman level of both insurance and broker organisations in South Africa and London.

He has served as director of several large companies (listed and private) and also as executive and non-executive chairman. Mr. Seach’s expertise ranges from business and management skills, including compliance and acquisitions. He is a Fellow of the South African Insurance Institute as well as a Fellow of the Chartered Institute of London.

BRIAN SEACH

Bajabulile has over 16 years experience in providing fi scal, strategic and operational leadership in uniquely challenging situations. She is a dynamic, talented and results-oriented leader. Her proven abilities are in fi nancial management, developing and implementing strategy, risk management, leading projects, improving operational effi ciencies and team building.

Over the years Ms. Luthuli has aquired excellent interpersonal skills in resolving multiple and complex issues (across sales, human resources, fi nance, operations and legal), driving transformation objectives and motivating staff to peak performance. Ms. Luthuli is a Chartered Accountant.

BAJABULILE LUTHULI

“We are a relationship driven organisation thatfocuses on the growth and success of our clients

and business partners.”

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EXECUTIVE

� e operations are managed at two levels: the Executive Management (Exco) and a team of Operations Managers. Our current branch layout is:

• Head Offi ce : Commerce Square in Sandhurst, Sandton• Kwa Zulu Natal (KZN)Offi ce: Durban• Eastern Cape (EC) Offi ces: Port Elizabeth and King Williams Town• Free State Offi ce: Bloemfontein

MANAGEMENT

Chief Executive Offi cerMr. Vusi Sithole

Executive Management:CEO Offi ce

Eleanor Peterson

Executive Management:Sales

Samkelo Mthembu

Executive Management:Risk

Mandla Mtsweni

Executive Management:Administration

Betty Masemula

Executive Management:Compliance

Portia Mamosebo

Executive Management:Human ResourcesEmelda Tshikovhi

Executive Management:Strategy(Vacant)

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MIDDLE MANAGEMENT

Manager: New BusinessUnelia Stevens

Manager: ClaimsSimangele Mokokosi

Manager: Scheme andPolicy Fulfi lment

Tiego Malibe

Executive Manager: Administration

Betty Masemula

Senior Accountant:Managment Accounting

Jeff Misihairabwi

Senior Accountant:Premium, Credit Control

Analysis: Richard Hlungwane

Senior Accountant:Finacial Accounting

Walter Mogane

Executive Manager: FinanceVacant

Marketing ManagerNolitha Sitole

Communications ManagerSindiswa Myeza

Executive Management: Strategy(Vacant)

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KEY ELEMENTS TO SUCCESS

NestLife is dedicated to ensuring the provision of insurance products and services according to market segment needs. We off er corporate, commercial, mid-market and low-income clients a superior service with products tailored to their needs.

FOCUS ON CLIENT NEEDS: We achieve this by understanding our client’s needs, investing in the capabilities required and measuring our success.

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Our clients are at the heart of everything we do. Treating customers fairly is central to our corporate culture. NestLife has a core team to drive customer services.

Our goal is to foster a customer-centric ethos throughout the Company. � is is achieved by ensuring that each interaction with the customer delivers accurate and relevant service.

CUSTOMER CENTRICITY

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CLIENT SPECIFIC PRODUCT DEVELOPMENTNestLife uses its expert knowledge to develop products suited to our client’s specifi c needs. Product development is subject to an intensive, systematic process of market research, risk profi ling and continualassessment.

� e latter is important, as even after a successful launch it is imperative that products are continually evaluated to ensure they are meeting the needs of all stakeholders.

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NestLife employs the best technology to manage our Group insurance administration. Our state of the art system off ers end-to-end insurance Wmanagement that supports the entire insurance policy lifecycle. It has been designed under a customer-centric philosophy that provides operating effi ciency.

� is software has the fl exibility to support large group schemes using specially designed business processes and workfl ows. Our system is central to our operating environment and provides effi cient data management, claims management and reporting. � is enables NestLife to provide the best customer service and support to our members. With advanced data protection principles, we are able to secure client information in line with relevant legal frameworks.

We recognise that our reputation and image depends on the speed and effi ciency with which we settle a claim. NestLife prides itself on its comprehensive Claims Management System, which facilitates and manages the entire claims process.

TECHNOLOGY

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VALUE FOR MONEY

As a Specialist Group Risk Insurer, NestLife prides itself in its sophisticated pricing model. We use our expertise and comprehensive data analysis to understand each group’s unique risks.

Our pricing is then developed to maximize sustainability and off er clients fair pricing. � is makes us competitive within our market and attractive to our members. Because risk is spread over the entire group, individual members pay a much lower premium.

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ABOUT NESTLIFE

Our Mission:NestLife is a Specialist Group Risk insurer that provides and administers comprehensive life insurance solutions to meet the needs of our clients.

Our Vision:We strive to be recognised as the preferred partner that delivers value-adding solutions through mutually benefi cial relationships with our clients in our selected markets.

Our Values:• We are Specialists!• We are Strategy Focused!• We provide Excellent Service!• We build Relationships!• We own our Reputation!

NESTLIFE PRODUCT CATALOGUE

NestLife Payment Protector

Product Description:• Th e NestLife Payment Protector will pay the outstanding balance of the loan holder’s outstanding debt.

Client Benefi ts:• Protection of projected revenue as NestLife pays the loan holder’s outstanding debt in full.• Provides an additional revenue stream through profi t sharing with NestLife as well as commission earned on the premium paid by the end consumer.

NestLife Death Payout Benefi t

Product Description:• NestLife Death Payout Benefi t is a means of ensuring that a group member’s benefi ciaries are not destitute in the event of the member’s death.• Th e payout is made in the event of the death of the individual members in a participating group e.g. corporates, union, retirement and pension funds etc .• Th e cover for members is provided through a defi ned lump sum benefi t linked to their respective annual incomes and also according to the employer’s benefi t policy.• Th e cover is sold to the group, not to the individual so that the premiums are aff ordable for every member in the group.• Th e cover is usually compulsory for the group members.

Client Benefi ts:• Great value for money rate that gives you an effi cient, one-stop service from NestLife.• NestLife will underwrite, administer and process the payout claims.• Additional income stream for the member’s benefi ciaries in the event of the member’s death.

NestLife Incapacity Income Provider

Product Description:• NestLife Incapacity Income Provider is designed to provide a client’s members with a lump sum payment in the event of a diagnosed defi ned disability. Th ere are three types of group disability schemes: Permanent Total Disability (PTD); Total and Temporary Disability (TTD); Permanent Health Insurance (PHI).• Permanent Total Disability (PTD) cover applies when an individual has been medically declared disabled and unable to work. Th e cover is paid in a lump sum.• Total and Temporary disability cover (TTD) is interim cover that applies when an individual is unable to perform their work, however they are not fully declared medically disabled. Th e cover is paid monthly.• Permanent Health Insurance (PHI) cover applies when a member is declared medically disabled. Th e aff ected member is paid on a monthly basis until retirement age or death.• Th e cover is usually a legal requirement and sold to the group not to the individual, making it an aff ordable premium.

Client Benefi ts:• Great value for money rate.• NestLife off ers a one stop service through underwriting, administration and processing of the payout claims.• An additional benefi t of disability assessment management is provided.• Th e member is provided with an income stream in the event of a disability.

GROUP COVER

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Nestlife Six Pack Plan

Product Description:• Th e Six Pack Plan is a unique funeral product designed with African culture and values in mind, where it is common practice to take care of both immediate and extended family members.• Th e Six Pack Plan allows a member to insure six (6) extended family members under one policy at an aff ordable premium, thereby allowing the member to create their own Six Pack.• Th e number of Six packs that a client is able to take out is unlimited.• Th e Six Pack also provides a Life Cover portion for the main member – thus enabling the member to also provide a lump sum to their relatives.

Client Benefi ts:• Th e Six Pack Plan allows a member to insure six (6) relatives under one policy at an aff ordable premium which covers each member with a dignifi ed funeral.• What is revolutionary about the Six Pack Plan is that in addition to the funeral cover, there is a life cover portion that covers one of the six (6) relatives. In the event of the death of the member with the Life Cover, NestLife provides the family with the lump sum amount.

Nestlife Critical Illness Cash Provider

Product Description:• NestLife Critical Illness covers the individual members of a participating group in the event of a dread disease.• Th e cover is sold to the group and not to the individual making it an aff ordable premium.• Th e cover is usually compulsory.

Client Benefi ts:• Competitive, great value for money rate.• NestLife provides an effi cient, one-stop service insurer by underwriting, administering and processing the payout claims.• A lumpsum payout is provided to the member in the event of a dread disease.

Nestlife Funeral Cover

Product Description:• NestLife Funeral Cover insures an individual member of a participating group in the event of death.• Th e cover is sold to the group (e.g. corporates, unions, retirement and pension funds), making it an aff ordable premium.• Th e cover is either compulsory or voluntary to the members of the group.

Client Benefi ts:• Competitive, great value for money rate.• NestLife provides an effi cient, one-stop service by underwriting, administering and processing the payout claims.• Th rough its extensive network of funeral service providers, NestLife is able to provide members with a dignifi ed funeral.• NestLife Funeral Cover includes repatriation.

Nestlife Funeral Cover

Product Description:• Funeral cover for the individual members at preferred levels of cover.• Aff ordable individual cover.

Client Benefi ts:• Great value for money premium.• Th rough its extensive network of funeral service providers, NestLife is able to provide members with a dignifi ed funeral.• NestLife Funeral Cover includes repatriation.

INDIVIDUAL COVER

Nestlife Six Pack Plan

Product Description:• Th e Six Pack Plan is a unique funeral product designed with African culture and values in mind, where it is common practice to take care of both immediate and extended family members.• Th e Six Pack Plan allows a member to insure six (6) extended family members under one policy at an aff ordable premium, thereby allowing the member to create their own Six Pack.• Th e number of Six packs that a client is able to take out is unlimited.• Th e Six Pack also provides a Life Cover portion for the main member – thus enabling the member to also provide a lump sum to their relatives.

Client Benefi ts:• Th e Six Pack Plan allows a member to insure six (6) relatives under one policy at an aff ordable premium which covers each member with a dignifi ed funeral.• What is revolutionary about the Six Pack Plan is that in addition to the funeral cover, there is a life cover portion that covers one of the six (6) relatives. In the event of the death of the member with the Life Cover, NestLife provides the family with the lump sum amount.

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Head Offi ce

Commerce Square Building No.3 1st fl oor cnr Rivonia and Melville Road

Sandhurst, Sandton, 2186Tel: (011) 783 9112/ 0861 111 372

PO Box 2919Houghton, 2041

Bloemfontein

43 Kellner Street, Westdene, BloemfonteinTel: (051) 430 3673, Fax: (051) 430 3674

Durban

9th fl oor, Suite 901, Victoria Maine, 71 Victoria Embankment, Durban, 4001Tel: (031) 304 2770, Fax: (031) 304 2779

King Williams Town

Offi ce B, 30 Alexander Road, Tarynata Park,

King Williams Town, 5600, Tel: (043) 642 5420, Fax: (043) 642 2015

Port Elizabeth

350 Govan Mbeki Avenue, Central Port Elizabeth, 6001 Tel: (041) 582 4980, Fax: (041) 582 4970

www.nestlife.co.za

Nestlife Assurance Corporation Limited is an Authorized Financial Services Provider FSP No: 6409

Head Offi ceHead Offi ce

Commerce Square Building No.3 Commerce Square Building No.3 Commerce Square Building No.3 Commerce Square Building No.3 1st fl oor cnr Rivonia and Melville Road 1st fl oor cnr Rivonia and Melville Road

Sandhurst, Sandton, 2186Sandhurst, Sandton, 2186Tel: (011) 783 9112/ 0861 111 372Tel: (011) 783 9112/ 0861 111 372

Offi ce B, 30 Alexander Road, Offi ce B, 30 Alexander Road, Tarynata Park,Tarynata Park,

King Williams Town, 5600, King Williams Town, 5600, Tel: (043) 642 5420, Fax: (043) 642 2015Tel: (043) 642 5420, Fax: (043) 642 2015

Port ElizabethPort Elizabeth

350 Govan Mbeki Avenue, Central Port Elizabeth, 6001 350 Govan Mbeki Avenue, Central Port Elizabeth, 6001 Tel: (041) 582 4980, Fax: (041) 582 4970Tel: (041) 582 4980, Fax: (041) 582 4970

350 Govan Mbeki Avenue, Central Port Elizabeth, 6001 350 Govan Mbeki Avenue, Central Port Elizabeth, 6001 350 Govan Mbeki Avenue, Central Port Elizabeth, 6001 350 Govan Mbeki Avenue, Central Port Elizabeth, 6001