Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za

Orchid Risk Services achieves two prestigious accolades

Leading short-term insurance administrator and financial services firm Orchid Risk Services celebrated an excellent year of performance during 2017 as it scooped awards from two of South Africa’s largest insurers in recognition of the company’s dedication to excellence in the short-term insurance industry.

The company received the prestigious Gold Award from Santam Insurance Company in Cape Town, and bronze in the Independent category of Old Mutual Insurer’s West Coast Intermediary of the Year.

“We are delighted with our achievements this year because these accolades bear testament to our ongoing commitment to service excellence and dedication to providing top quality short-term insurance administration services to our clients,” says Roy Wright, Managing Director of Orchid Risk Services. “Our company is successful because of the continued effort from our talented, hard-working and dedicated team of people.”

Achieving a Gold Award from Santam Insurance is no easy task. The awards recognise excellence in portfolio growth as well as profitability and the “gold award status” achieved by Orchid Risk Services is the highest achievement in the annual Santam Regional achievement awards. Among the criteria for this award, Orchid Risk Services was specifically noted for its commitment to compliance.

Similarly, Old Mutual Insurer’s West Coast Intermediary of the Year Award highlights Orchid Risk Services commitment to service excellence once again. The award is bestowed upon short-term insurance intermediaries that show exceptional growth and maintaining a profitable portfolio.

Wright adds that the company has innovation at its heart and is always looking for ways to help brokers and other financial services providers operate more efficiently and profitably.

“We have developed solutions that support the entire insurance value chain, from quotation to claims management,” says Wright. “We pride ourselves in effectively helping to free up intermediaries’ time so that they can focus on what really matters: their clients, and also on maximising business opportunities.”

With the industry facing major ongoing regulatory changes, Wright says it’s never made more sense for independent intermediaries to get expert assistance in terms of issues such as compliance requirements and administration services.

“Our company guarantees that intermediaries will be compliant. That’s where our expertise comes in because your compliance, is our primary goal.”

The company’s dedication to their client’s needs extends to more than just everyday operational requirements.

“As is the case for so many businesses, our intermediaries find themselves so busy on a day-to-day basis that they often don’t have the time to focus on ensuring their long-term sustainability. We are passionate about this. We create business continuity, retirement processes or exit plans for our clients so that an intermediary’s legacy is well and truly secured,” Wright says.



Latest


04 Aug 2020
Advice for insurance entrepreneurs

“Being battle hardened is what makes you hungry for success. Growing up in a house where your parents can’t cover…

Advice for insurance entrepreneurs

“Being battle hardened is what makes you hungry for success. Growing up in a house where your parents can’t cover the school fees and the family car has broken down for the umpteenth time, makes you focus on what you really want to change in your life.” says Alex Simeonides,…

01 Aug 2020
Achieving balance is not as easy as 60/40

By: Tumi Loate: Investment Team Member, 36ONE Asset Management A simple and traditional balanced portfolio, which allocates 60% to equities…

Achieving balance is not as easy as 60/40

By: Tumi Loate: Investment Team Member, 36ONE Asset Management A simple and traditional balanced portfolio, which allocates 60% to equities and 40% to bonds (a 60/40 allocation) irrespective of the cycle, has produced more than satisfactory returns for global investors over the last two decades. Importantly, however, these returns have…

01 Aug 2020
2020 – a rollercoaster ride

By: James Klempster, CFA, Director of Investment Management, Momentum Investments How to sum up 2020 so far?  A rollercoaster is…

2020 – a rollercoaster ride

By: James Klempster, CFA, Director of Investment Management, Momentum Investments How to sum up 2020 so far?  A rollercoaster is probably the best way to describe it; both from an emotional perspective but also in terms of what the markets have been up to. Over the first quarter, market participants went…

30 Jul 2020
Income protection could be the best investment you ever make

According to the recent Stanlib Savings Report 2020, Covid-19 has highlighted how unprepared South Africans are for unforeseen financial shocks…

Income protection could be the best investment you ever make

According to the recent Stanlib Savings Report 2020, Covid-19 has highlighted how unprepared South Africans are for unforeseen financial shocks – and left without a steady income flow, many have had to dip into long-term savings to fund day-to-day expenses. Part of the reason is that South Africans tend to…


Top stories


10 Apr 2020
When the going gets tough, farmers are on familiar territory

South African farmers are old hands at adapting to uncertain and daunting circumstances, and our local agricultural industry has proved…

When the going gets tough, farmers are on familiar territory

South African farmers are old hands at adapting to uncertain and daunting circumstances, and our local agricultural industry has proved to be most enterprising in acclimatising to challenges as they arise.

13 Apr 2020
Investors should keep a reasonable investment allocation outside of SA

MoneyMarketing asked Roland Gräbe, the head of Tailored Fund Portfolios at Old Mutual Wealth, about offshore investments in the COVID-19…

Investors should keep a reasonable investment allocation outside of SA

MoneyMarketing asked Roland Gräbe, the head of Tailored Fund Portfolios at Old Mutual Wealth, about offshore investments in the COVID-19 environment and what form a global market recovery will take.

13 Apr 2020
SA’s Proposed Covid-19 Disaster Management Tax Relief

The National Treasury recently issued the draft Disaster Management Tax Relief Bill (Bill) for public comment by 15 April. The…

SA’s Proposed Covid-19 Disaster Management Tax Relief

The National Treasury recently issued the draft Disaster Management Tax Relief Bill (Bill) for public comment by 15 April. The draft Bill, together with its explanatory memorandum, provides clarity with regards the tax relief measures President Cyril Ramaphosa announced on 23 March.

11 Apr 2020
Finding investment opportunities among the many COVID-19 risks

With many countries around the world in lockdown as they try to contain the spread of the COVID-19 virus, the…

Finding investment opportunities among the many COVID-19 risks

With many countries around the world in lockdown as they try to contain the spread of the COVID-19 virus, the global economy is facing an unprecedented situation of balancing health against financial livelihoods.