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ICWI’S Latest Addition: Trinidad and Tobago


Employees Give Back

ICWI and FHC Sign Motor Loan Agreement


The Benefits of Saving

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Sigma Corporate Run 2014 Fourth Floor Relocation



ince its inception over forty-five years ago, The Insurance Company of the West Indies Limited (ICWI) has been expanding throughout the region. With its mission to become the largest motor underwriter in the Caribbean, it was natural to set a target to enter its largest motor market - Trinidad & Tobago.

On October 26, 2013, ICWI acquired Great Northern Insurance Company Limited (GN), a Trinidadian general insurance company, which is now a subsidiary of the ICWI Group of Companies. This is an exciting time in the history of ICWI. Needless to say there is a lot of work to be done to ensure the transition from GN to ICWI goes well, and in order to kick start the transition ICWI hosted its first General Staff Meeting for GN on Saturday February 15 at the Cascadia Hotel in Port of Spain. The Master of Ceremonies for the day was General Manager, Gerard Mendez. Presentations were done by President Paul Lalor and Vice President, Samantha Samuda. Samantha Samuda introduced the GN staff to ICWI by giving them a brief history, explaining the company’s mission and vision and where the ICWI Group of Companies envisions itself in the future. Mr. Lalor continued by explaining the rationale behind why the Company chose to enter Trinidad, and what ICWI has to offer the people of the ‘twin island republic’.


He further demonstrated the impact the acquisition had on the Group of Companies from a risk and premium perspective. Mr. Lalor took the opportunity to explain in depth the need to create a culture for success at GN; he put many minds at ease by discussing the expectations of the Company as well as those of the GN staff. The guest speaker for the day was Mr. Andre Bello, motivational speaker and Head of Sales, Marketing and PR at Virgin Atlantic. He gave a very captivating presentation about attitudes and behavior. He illustrated the need for teamwork to ensure success not only for the business, but for the employee and Mr. Bello went on to explain that change, and having the right attitude towards change, can have a very positive impact on one’s life. Following the presentations, the GN staff from all 12 branches island wide were able to meet socially over lunch, put faces to names and build new relationships. The staff meeting was very well received; the result at the end of the day was a clear picture of where the Company is today, and where ICWI needs the Company to be in the future. It became evident that the Management and Staff of ICWI are committed to work with their new colleagues as a team, and to support the transition to ensure success in this new and growing market.




n February 19, ICWI and First Heritage Co-Operative Credit Union (FHC) signed a memorandum of understanding (MOU) whereby, effective March 17, all FHC loan clients will benefit from a Motor insurance product designed and rated especially for them. The Comprehensive product, which will be offered for the duration of the loan, will include REACT Roadside Assistance, Uninsured Motorist protection and a special Personal Accident product that is not normally available as a rider on a Motor policy. In addition to these benefits, the policy excess will be capped at a very low $35,000. Speaking at the MOU signing function,


Norman Thompson, FHC’s Assistant General Manager - Retail Networks, said “it is the Credit Union’s mandate to continually augment the benefits and services we offer, to increasingly meet the needs of its members, and we see this referral programme as another success in this regard.” Paul Lalor, President of ICWI, credited FHC for challenging his insurance company to think outside the box and create new products and services to meet the demands of its members. He said “FHC is growing fast and we want to grow with you, as our vision at ICWI is to be the number one motor vehicle insurance underwriter in the Caribbean.” FHC currently has over 150,000 members.

presence in all fourteen parishes by the end of 2014, which will ensure greater accessibility to members of FHC who want to join the programme. Basil Naar, CEO of FHC, said the collaboration between his Credit Union and ICWI had a good future. “The financial sector is becoming more competitive, so our organisation will always have to seek to enhance the customer experience and establish a competitive edge through offering creative and unique products and services, outside of financing.” In addition to the product for the loan clients, a special scheme has been created for all members of the Credit Union so they too can benefit from the ICWI/FHC partnership.

Mr. Lalor also stated that ICWI is planning to establish a branded



A RU CO N RP 20 O 14 RA T


his year the Annual Sagicor Sigma Corporate Run had more than 20,000 joggers, walkers and wheelchair competitors coming together to raise $17 million dollars to donate to three charities. The charities this year were: The Special Care Nursery at the University Hospital of the West Indies, Jamaica Kidney Kids and The Sickle Cell Trust in Mandeville. The 5K took place on February 16th, 2014 and started promptly at 7:30am. ICWI had a team of 80 persons who participated. Top Male Results:

Kirk McGrath, 31:57 Sadike Sadler, 33:27 Dwight Cunningham, 38:43 Vaughn Thompson, 39:03 Jason Duncan, 42:02


Top Female Results: Princess Meggoe, 35:57 Orleen Henlon-Haughton, 36:45 Latoya Mitchell, 37:35 Chantellee Britton, 42:27 Tashnie Taylor, 42:47

For many years, ICWI has occupied the first and sixth floors of the office building at 2 St. Lucia Avenue. In early 2013, due to company growth, the Legal Department, members of the audit department and the Customer Care Centre moved to inhabit a section of the third floor which it shared with First Global Bank. In the first quarter of 2014, to create better facilities and a spacious environment for employees, the fourth floor was acquired and renovated to accommodate the Customer Care Centre, the Legal Department, Insurance Operations, the IT server room,and a larger lunch room and a multifunctional training room equipped with PCs specific for computer training. The transition to the fourth floor has made a more comfortable workspace for all employees.


Fourth Floor lunch room with a view





iving back is one of the most rewarding experiences as Janine Fisher is sure to tell you. She is no stranger to service and has been actively involved in humanitarian efforts from being a Brownie – At the Ensom City Primary School, Key Club International Division Lieutenant Governor while at the St. Hugh’s High School and Student Project Capital Sociial and Capital Justice Administrator for The UWI LEADS and UWI Reach social justice and change initiative. This Broker Marketing Representative wears many hats. Presently, she partners with the Citizens Security and Justice Programme in mentoring high school girls and boys in the Angels Heights community in Spanish Town, and is a volunteer with National Integrity Action (NIA). Janine also serves as a tutor for the Jamaicans For Life Long Learning (JFLL) programme for level one to three reading at the Crescent Primary School.


Her primary interest lies in gender equity and women’s rights and in 2011, co-founded the I’m Glad I’m A Girl Foundation for which she serves as a Director. The I’m Glad I’m A Girl Foundation’s mandate is to foster teen girls’ empowerment by developing life-long skills by providing opportunities for learning, capacity building, cross-cultural awareness and selfdevelopment among young women through participation in activities, programs and projects.

The Foundation’s major annual event is a ten day summer camp and it’s main focus is to address the following issues and needs directly: Self-Affirmation, Body Image and Identity, Sexual Reproductive Rights and Responsibilities, Health: Mental Wellness and Nutrition and Domestic Violence. Presently in its third year, the organisation has expanded its mandate to include Girl-Tech, Girl-Wealth and Mentorship

Despite her many commitments, in her down-time she can be found engrossed in reading, playing suduko, sharing laughs with friends and enjoying a great game of dominoes.


n this harsh economic climate, every dollar counts, so while you work hard at earning that dollar, also remember that it is equally important that your money also works for you. As we aspire to achieve our goals – long, medium or short, we must do so with the understanding that saving is the art of wealth creation. For those of us who are avid savers, we know that compound interest is your best friend. Compound interest occurs when the money in your account earns interest, which then increases the balance in the account. The accumulated interest is reinvested and may earn even more interest. For example, say you have $1,000 that earns 5% interest over a year, or $50. At the end of the year, you’ll have $1,050. The next year, you earn another 5%, only this time you’ve earned $52.50 ($1,050 x 5%), for a total of $1,102.50. The following year you earn 5% on the $1,102.50, and so on. The benefits of compounding interest multiply over time. Getting a late start means you may have to contribute more to achieve the same end result. For example, suppose you want to be a millionaire. If you started saving $300 a month at age 22 and earned an average annual return of 7%, you’d be a millionaire at age 66. But if you waited until age 32 and earned the same rate of return, you’d have to save $650 a month to reach the same goal.

THE BENEFIT OF SAVING A LITTLE BIT OVER A LONGER PERIOD HERE ARE SOME SIMPLE WAYS TO SAVE MONEY: 1. Cook at home often and bring your lunch to work a few days a week 2. Make a list before going grocery shopping 3. Watch out for expiration dates on perishable goods 4. Buy in bulk whenever possible 5. Pay your bills on time and avoid late fees 6. Avoid credit cards with annual fees 7. Avoid impulse buying 8. Bottle your own water 9. Do regular scheduled maintenance on your vehicles 10. Carpool whenever possible 11. Finally, keep your distance from lavish, high-roller friends


STAFF MOVEMENTS A warm welcome is extended to the following employees who joined the ICWI family during the period January to March 2014.

Jameel Thompson

– Liguanea – January 2014

Ricardo Christie

– Finance – January 2014


DEPARTURES It is with regret that we bid goodbye to the following persons during the last quarter of 2013 and wish them all the best in their future undertakings.

Natika Gentles – Customer Service Department Simone Hamilton – Montego Bay Branch Michael Ebanks – Finance Department Paula Dwyer – Claims Department

MATCHES Congratulations to Tina

Ashley form the Human Resource Department who got married January 2014.


2 St. Lucia Avenue Kingston 5 Jamaica W.I. Tel: (876) 926-9040-7 Fax: (876) 960-6918

Suites 11-13 Technology Innovation Centre University of Technology 237 Old Hope Road Kingston 6 (876) 970 5657

ICWI eZine  

January - March 2014

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