South African Insurance Company Issues Publicity RFP
Sasria SOC Ltd (Sasria) is a short-term insurance company specializing in providing cover resulting from loss due to political and non-political acts (such as terrorism, riots, strikes and public disorder). Sasria has been in existence since 1979, and up to now it’s business model as well as the company’s unchallenged position has ensured that Sasria remains in business with little change and significant challenges. Over the years, the role of Sasria has evolved from political risk to non-political special risks covers. In this dynamic short-term insurance market, Sasria has continuously and successfully proven and justified its relevance. Although Sasria has been profitable over the years through the existing business model, there is great need to optimise this in order to grow revenue as well as profit margins.
The Government of the Republic of South Africa, and specifically the National Treasury through the Minister of Finance, is the sole shareholder of Sasria. As such, the company has to comply with a number of legal and regulatory requirements.
Background to the RFP
Sasria cover is available through a network of authorised non-mandated intermediaries (NMI) who have to be short term insurance companies , as a result, Sasria does not do direct business with customers, as such, brand and product awareness is relatively low. Over the past few years, Sasria has embarked on a number of marketing campaigns in order to elevate the Sasria brand and create awareness. To date, Sasria has managed to achieve 100% awareness on the brand awareness index in the Insurance industry and 52% among corporate customers. However, awareness among the public is still relatively low. It is against this background that Sasria is looking to employ the services of a Marketing and Communication service provider to assist in executing critical functions within the Public Relations and Corporate Communications sphere.
Sasria’s marketing strategy is routed in three main objectives:
- To create a trusted brand that resonates with all our customers;
- Improve brand and product awareness through to all stakeholders, the insurance industry as well as the public; and
- To position Sasria as a customer centric organisation.
As such they now seek a Public Relations firm.
Proposal due by Monday, February 27, 2017 to:
Sasria SOC Limited
36 Fricker Road Illovo