Centriq Insurance [2025 Update]

Informative profile about the Centriq Insurance Company. Be educated about the Centriq Insurance Company policies, claims, quotes, complaints, reviews, and contact number.

About Centriq Insurance Company

Centriq offers a diverse range of specialist and general insurance solutions for all your personal and business needs.

These insurance solutions are underwritten by Centriq Insurance Company Limited and Centriq Life Insurance Company Limited and are largely delivered through Centriq extended network of Underwriting Management Agents (UMAs), Alternative Distribution business partners and Centriq in-house Risk Finance team.

At Centriq they don’t just share South Africa’s vision of ‘eliminating the inequalities of their society and achieving freedom for all its citizens’ they actively play a role in achieving this vision by providing development opportunities for stakeholders.

Centriq employ a diverse spectrum of professionals
Centriq positively influence our business partners

Types of Centriq Insurance Products and Services:

ALTERNATIVE DISTRIBUTION

Defined as a third-party cell captive arrangement where insurance business is ancillary to the primary business activity of the cell owner.

Centriq are not rendering the definition of insurance moot, they are doing what they always do – daring to see things not simply as they are but how they could be. Sure, many Affinity groups offer ‘value-add’ products but Centriq are focused on going one step further to not just encourage innovative insurance but champion it, to meet the needs of your customers by giving you the ability to create your own products to suit the needs of your market.

HOW DOES IT WORK?

The success of Alternative Distribution hinges on Centriq ability to get to know the client from every aspect of their business. Centriq understand that insurance is ancillary in the eyes of the policy holder – the policyholder sees the brand, and not the insurance product – which is why it is so important to highlight the fact that we are not pushing a product, Centriq are promising a partnership.

Centriq engage with their clients on a regular basis to get an in-depth understanding of their business – from the inner workings and day-to-day running to their challenges in the present and vision for the future.
Centriq commit themselves to a process of walking the journey with their clients, ensuring that – every step of the way – the policyholder is treated fairly .
Centriq guide their clients, providing a comprehensive understanding of the insurance environment that equips you to do the right thing in the eyes of the FSB
Centriq build trust-based relationships with the individuals most invested in a business’s success (CEOs, CFOs, Business Development Managers)

WHY USE THIS SOLUTION?

When you explore this solution, you don’t go it alone. When partnering with you, Centriq offer a poised approach to cell captive structuring, regulatory and compliance guidance, partnership strategies and underwriting capabilities which are unpinned by four key values – reassurance, guidance, mentorship and brand capability. When you partner with Centriq, you experience the benefits of not only an established brand and a reputable track record but of a long-term financial partnership, characterised by:

Financial stability and security
In-house underwriting and cell captive expertise
Superior customer service and an unwavering work ethic
Specialised Insurance structuring skills
Regulatory and compliance support
Customised alternative distribution methodologies

UMA

WHY USE THIS SOLUTION?

The stand-out benefit of the Cell Captive solution is that it enables you to keep your independence. Centriq not only equip you, but empower you, to run your own business. Plus, you get the added peace of mind of knowing that we don’t just value, Centriq pride themselves on, building a long-term, sustainable and mutually beneficial relationship with you.

Other benefits include the fact that
Centriq have a reputable track record and a GCR AA- (ZA) rating.
Centriq have the know-how and skills to structure sophisticated UMA facilities.
Centriq have an unwavering work ethic, strong values and are loyal to their UMA’s.
Centriq give you the flexibility to underwrite and manage claims through the provision of optimal binder mandates.

WHAT ARE THE OBJECTIVES TO USE THIS SOLUTION?

Centriq UMA model is based on more than just facility provision, it includes real value-adds such as:

Cutting-edge reinsurance;
Actuarial and modelling support;
The very best regulatory, risk and compliance support;
Information technology enablement

WHO IS THE POTENTIAL CLIENT?

The potential client is the UMA looking to thrive rather than simply survive in the competitive UMA arena.

Through Centriq innovative insurance offering they equip UMAs with what they need to offer specialised/niche underwriting management services to the market;

Offer specialised/niche underwriting management services to the market;
Access to new markets to sell existing products to;
Access to new products to sell within existing markets;
Give an existing idea the scale/efficiency/technology it needs to be actioned – better, faster and cheaper.

HOW DOES IT WORK?

As a preferred UMA partner of Centriq, you benefit from their uniquely structured UMA business model as well as:

Centriq specialised skills
Centriq service excellence
Centriq efficient insurance capacity structuring

Centriq Partners

At Centriq, the strength of their team is each individual member, and the strength of each individual, is the team – a team of world-class and niche insurance role players and providers you can be part of. As a preferred UMA partner of Centriq, you will benefit from their specialised skills, service excellence, and efficient insurance capacity by means of their uniquely structured UMA business model.

RISK FINANCE

Whatever your organisation, volatile cash flow exposure (courtesy of severe claims and ever-increasing conventional market premiums) makes for uncomfortable discussions among Financial Managers, come budgeting time.

Some of the insurance challenges facing major industries include:

The significantly increased cost of conventional insurance offered by the traditional market.
Inflexible insurance product offerings & ‘uninsurable risks.
A vastly increased range of exclusions in policy wordings.

HOW DOES IT WORK?

Centriq listen. By listening to you – the client and asking questions – Centriq ensure that they have a thorough understanding of your industry and the business risks that you are faced with daily.

By taking our understanding of your business and your financial constraints we have the full picture we need – when combined with our area of expertise (insurance products and risk) – to present various recommendations to you, in a simple, straightforward way. We advise, our comprehensive and tailor-made risk finance and risk management solutions include:

Annually renewable contingency policies
Multi-year / Spread loss policies
Cell captives & ‘Mutuals

WHO IS THE POTENTIAL CLIENT?

A typical Risk Finance client requires budgeting certainty, is looking for the ability to finance risk and fits one (or all) of the following criteria:

Has a prudent risk management programme in place, that focuses on loss control.
Is exposed to a traditionally uninsurable or difficult to insure portfolio.
Chooses high deductibles on conventional insurance to ensure a lower pay away premium, placing themselves into a better bargaining position with reinsurers.
Is part of a set, long-term capacity building and risk retention strategy.

WHAT ARE THE OBJECTIVES TO USE THIS SOLUTION

Centriq team of risk financing experts critically assesses your risk portfolio and the issues that create sleepless nights so that they can form a sustainable long-term strategy – in collaboration with you – to ensure your Balance Sheet and Assets are protected from volatility.

While the conventional insurance market has adapted to offer various forms of insurance and financial risk cover, a comprehensive risk management programme often incorporates an element of alternative risk transfer in a formal structure.