Smile Life Insurance Company says 2022 has been a good year in terms of business compared to last year, thanks to the easing of Covid-19 infections which raised claims.

The company’s chief executive officer Stain Singo said this in an interview on the sidelines of a cocktail for its clients held at Sunbird Mount Soche in Blantyre.

Sees profits rising: Singo

He said the company, besides the easing Covid-19 infections, improved its performance to improve its profitability hence sees improved performance this year.

“Our technical performance has been good because of our strong underlying principles and service level of deliveries that we are giving to clients. We, thus, see our profit rising this year.

“In the last two years, our claims ratio went as high as 30 to 40 percent, while this year, we are hovering below 20 percent. We, in some instances, had to pay about K500 million due to Covid-19, but things have since improved and we anticipate to see lower claims,” he said. 

One of the company’s clients, Mybucks Banking Corporation corporate banking manager Phillip Kunje commended the company for improving its services over the years despite facing turbulent times. 

“It is exciting to note that the company is performing well and striving to settle our claims within a day or two if we submit all the required documentation.

“This is a commendable job as claims have been one of the biggest challenges which we face when dealing with Insurance companies so to hear that from Smile Life it really gives us a peace of mind,” said Kunje.

Established in 2009, Smile Life, among other services, provides Group Life Assurance Schemes, Group Funeral Insurance Schemes, Group Credit Life Assurance Scheme, Family Funeral Plans named Thandizo Policy.

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