Allied Insurance Company of the Maldives has stated 2018 has been the most successful year in the company's history.
Allied Insurance Company of the Maldives is the largest and the first insurance provider of the country, with a customer base of almost 40-thousand, which includes 20 percent private and 80 percent corporate clients.
During an exclusive interview with PSM News, Marketing Manager Niushad Shareef said Allied had successfully launched 2 new insurance policies while further expanding existing policies. Niushad said the services launched by the company include a policy targeted for construction industry and an online portal which enables personal line customers to file traveller insurance claims via a website. He said the online portal for travellers insurance prompted a 64 percent increase in customer base for the particular insurance policy.
During the interview, Niushad explained in 2018, the company was also able to significantly reduce claims collected by corporate and personal customers compared to 2017. In this regard, the company issued over 10.2 million US dollars as insurance claim in 2017, while only 4.2 million US dollars was issued in 2018. He said this was due to the dedication of the company towards ensuring safety and security standards of those who took insurance policies, thus avoiding situations where claims could be made.
The marketing manager further said in the past 33 years, 2018 has been the most successful year, adding plans for next year would certainly boost the customer base as well as further broaden the scope of services.
Allied Insurance Company of the Maldives was opened in 1985, as a joint venture between UK-based Commercial Union Assurance Company and State Trading Organisation (STO). In early 1987, STO bought back shares of Commercial Union Assurance chartering Allied Insurance to continue doing the business as a subsidiary of the organisation.