29 March 2016

Uganda-Based Insurer Wins Global Award for Innovation

Kampala — The International Finance Magazine (IFM) Awards annually celebrates excellence, through an event that recognizes and honors individuals and organizations in the international finance industry that make a significant difference and add value to services.

"This award shines a spotlight on Goldstar for making a contribution to raising the bar in the financial industry through activities of note," Joytsna Ruparelia, one of the compnay directors said recently.

"The activities include path-breaking initiatives in corporate social responsibility for a start, better corporate governance and other achievements that impact the global finance community."

Goldtar Insurance was recognised for the highest standards of innovation and performance in the industry.

Besides recognizing the key performers in the industry, the IFM Award makes a concerted effort to shine the spotlight on organizations in particular segments and those that exhibit brilliance in the competitive finance industry.

"Success has been possible over time because of our flexibility to provide tailor-made policies to suit our clients' needs and requirements," the business development manager Jay Sakaraya said.

Goldstar opened for business during 1996 in a secgor where insurance penerations still remains very low.

Against all these odds, Goldstar Insurance, is fast becoming a household name among the populace and attained the status of being ranked among the top five insurance companies in Uganda.

Compnay officials say the secret to this rapid growth is based on four pillars namely: a strong and solid financial base, prudent underwriting (not losing focus by just targeting to grow the top line), sound reinsurance support and backing in addition to having a professional, experienced and highly skilled staff.

Sakaraya said, "Goldstar looks to the future and strongly contends that their philosophy and foundation are still relevant in today's market.

"Accordingly, we shall continue to stringently adhere to our mission to; safeguard, strengthen. Serve by having motor bike insurance policies, cash in transit, car third party ones and those that address fires gutting ones property," he said.

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