ESRIC TURNS 50, OFFERS DISCOUNTS

MBABANE – The Eswatini Royal Insurance Corporation (ESRIC) is celebrating its 50th anniversary by offering a 10 per cent discount.

ESRIC was established in 1973, and the head of marketing and corporate communications, Gcebile Simelane, said they have been offering a 10 per cent discount on non-life products since January in commemoration of their 50th anniversary. “In commemorating its 50th milestone, the corporation has since January 2023 been offering a 10 per cent discount on non-life products. The discount is being offered to clients who are renewing or applying for motor vehicles, homeowners, house contents, and fire insurance. There are many things that are yet to come that will benefit and add value to clients as the corporation commemorates its milestone in the course of the year.”

ESRIC was established at a time when only foreign entities were providing vital insurance services in the country. The establishment of the corporation was done to create a Swati insurance company, thereby growing the economy of Eswatini. In 2022, the corporation paid over E26 million in funeral claims, E57 million in car insurance claims, and for clients that had investment products, over E63 million was paid out. Annually, the corporation supports society through its CSI initiatives with an investment of over E2 million.

Strategy

In the next decade, Simelane added that ESRIC would embark on a transformational strategy that leans on digital and innovation. She said this would ensure that the evolving client’s needs were met. “Furthermore, the corporation is adopting the use of sustainable materials, which will result in the embedding of greater ESG metrics into all aspects of the business,” she said. The manager also mentioned that ESRIC has implemented initiatives that work towards the sustainability of the environment. “Firstly, the corporation has been harvesting rainwater for reuse. Secondly, the corporation is currently operating on solar energy at the Insika House, which is its headquarters. Lastly, ESRIC is gradually adding hybrid cars to its fleet of motor vehicles,” she said.   

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