SUN Insurance Journey with Lala, Sharma and Maharaj
SUN Insurance is Fiji’s only 100 percent locally owned, managed and staffed general insurance company, and is in its 22 years of successful operation in a sector once the exclusive preserve of foreign-owned insurers.
But how did the journey begin and who started it? The journey began with the acquisition by current board chairman, Padam Lala and co-founders Mahendra Sharma and Dewan Maharaj of the ailing NMBf Insurance (Fiji) Ltd., which had a turnover of just $650,000.
Today the annual turnover is in excess of $25 million and a market share of 20 per cent,
Mr Lala said the Fijian people have more than reciprocated SUN’ faith in Fiji. SUN has more than 13,500 clients.
“We ourselves are Fijians,” Mr Lala said.
“This is our home and our affinity for the Fiji community proved a distinct advantage from the beginning.
“We understand the kinds of insurance products and services needed to provide our fellow Fijians financial security and peace of mind, often of a kind not previously offered in Fiji.”
Examples, he says, are roadside assistance and drive through claims facilities for vehicle owners, and online payment and claims tracking systems for all, including home and property owners and business operators.
Being unhindered by international affiliations in itself brings major customer benefits, Mr Lala explains.
“All decisions including approvals are made here in Fiji by our own people. If ever misfortune strikes we can help policyholders find their feet and move on very rapidly,” he said.
SUN was a notable ‘first responder’ when the most destructive cyclone ever recorded brought devastation across large areas of the country in 2016, with all affected customers visited and assisted within 72 hours.
“No other insurance company has such a widespread presence in Fiji,” Mr Lala said.
“Whenever and wherever these things happen, our help is at hand.”
SUN has a network of three regional branches and a dozen local agencies countrywide. Nor is the company’s assistance limited to its customers.
Together with its 60 staff, SUN Insurance regularly demonstrates commitment to the wider community through a variety of sponsorships and charitable contributions.