The ICWI name is recognized as a leading company in the field of property and casualty insurance for many years.  Founded in 1968, ICWI has constantly maintained a strict adherence to underwriting discipline ? the foundation of its success.  The Insurance Company of the West Indies Limited, which is the insurance arm of The ICWI Group of Companies, has offices in Jamaica, Cayman Islands, the Bahamas, and St. Maarten, with interests in Trinidad and Tobago and the Turks and Caicos Islands.


MISSION STATEMENT

To be the leading General Insurance Company in the Caribbean, providing the highest levels of service, excellent employment opportunities and optimum profitability.

Vision 2020

ICWI Group's goal is to create by the year 2020 a world class organization respected and admired by our employees, customers, shareholders and communities.

For us to achieve this goal, we must grow our core business to become the leading General Insurance Company in the Caribbean; expand regionally to earn more hard currency; diversify our income stream into non-core businesses in which we can achieve a competitive advantage; have the right people in the right positions consistently generating more profitable revenues; continuously improving our business processes to become more efficient; always make sure our customers feel valued and our staff motivated and content.

This is an ambitious goal, which will require us re-doubling our efforts every year, but by staying focused, working effectively, and together, we can achieve this transformation.

SERVICE PHILOSOPHY
 

"Serving you is all we do"

Claims settlement is the essence of our business and our primary objective is to provide equitable and expeditious settlement of claims working with in the following service standards:

? Within 30 days from date of original claim for own damage claims

? Within 60 days for Third Party Property damage

? Within 1 year personal injury

? Within 10 days windscreen

Our system allows individual customer service representatives to continually review aged claims by type and by status, which enables high service standards to be maintained. 

MANAGEMENT

Our Board of Directors

The Hon. Dennis Lalor, O.J, ACII - Chairman

Ms. Diane Bean, Bsc.  - Executive Vice President, Manulife Financial Corp.

Mr. Trevor Minnott, Bsc. - Retired CEO, JAMINTEL

Mr. Michael Vicens  - Retired President, Desnoes and Geddes    

Mr. Bruce Bicknell, BA  - Managing Director, Tankweld Metals

Mr. Mark Roberts, CPA  - Managing Director, Hot Off the Press Limited

Mr. Noel Levy  - Senior Partner, Myers Fletcher and Gordon

Mr. Paul Lalor, BSc., BA  - President, ICWI

The Management Team

Our management team meets twice monthly, one for reporting and one for strategic planning. Each member is responsible for preparing and delivering Board presentations once per annum which involves an in depth understanding of all facets of the business. The team is comprised of:

The Hon. Dennis Lalor, OJ, ACII - Chairman and CEO

Paul Lalor, BSc, BA - President

Howard Hall, FCA - Vice President, Finance, HRD & Administration

Moreen Marks, BSc, ACII - Vice President, Risk Management

Patrick Williams BSc, MBA - Vice President, Investment and Corporate Strategy

Underwriting
 

?   Conservative approach to ensure that risk is properly priced.

?   Motor is based on continuous review of company experience focusing on age, sex and occupation of individual and on the type and value of vehicle. (Target a <50% loss ratio)

?    Property underwriting is driven by area and construction but also ICWI is extremely concerned with rate. (Target 10% loss ratio for fire and 30% on other classes)

?   Profit Centres are continuously audited to ensure maintenance of underwriting standards. A team of four review all new business written to ensure it meets the ICWI requirements.