Betts Insurance Company (BIC) officially launched on 18 September 2026 at the Lagoonda Entertainment Complex in Aberdeen, Freetown. The event showcased the firm's emphasis on technology and strong governance. High-profile attendees included the Minister of Trade and Industry and executives from banking and insurance sectors. BIC's Chairman of the Board, Mr Claudius Bert-Williams, highlighted the company's independence and commitment to effective governance.
BIC plans to offer a range of insurance products, including personal, home, and auto insurance, as well as business policies and personal accident coverage. The company aims to make insurance purchases simple and convenient. Policies will be issued immediately after payment, allowing customers to submit claims with photos, track the process, and receive payouts directly to their TBI wallets.
To facilitate timely purchases and claim settlements, BIC has introduced multiple payment options, including Orange Money, Africell Money, and bank transfers. Claims will be paid directly into customers' wallets. This approach aims to make insurance more accessible and convenient for customers in Sierra Leone.
Chief Executive Officer Mr Alfred Akibo Betts expressed the company's ambition to make a meaningful impact in Sierra Leone and abroad. He emphasized the importance of technology in modern business and the vital role of the private sector in growth. Mr Betts highlighted the focus on speed and convenience, assuring customers that decisions would be based on merit, not personal connections.
Mr Arthur Yaskey, Commissioner of Sierra Leone Insurance Company (SLICO), commended the introduction of BIC as a sign of innovation within the sector. He reaffirmed SLICO's commitment to ethical practices and industry oversight, stressing that insurance is crucial for financial security and national economic stability. Mr Yaskey encouraged collaboration in the industry to enhance its contribution to national development.
The launch event featured a video titled "In Conversation with the CEO: The Betts Group Journey," musical performances, a presentation called "Our People, Our Journey," and a networking reception. Mrs Binta Akibo Betts served as Master of Ceremonies, while Ms Fatmata Binta Bah of BIC delivered the vote of thanks. The event brought together key stakeholders in the insurance and banking sectors.
BIC also aims to insure imported goods, believing that these should be covered locally. The company's focus on technology and governance is expected to contribute to the growth of the insurance sector in Sierra Leone. With its innovative approach, BIC is poised to make a significant impact in the country's insurance industry.
Key points
- BIC's focus on technology and strong governance sets it apart in the insurance sector.
- The company offers a range of simple-to-purchase insurance products with convenient payment options.
- BIC aims to make a meaningful impact in Sierra Leone and abroad with its innovative approach to insurance.
