This document provides an overview of insurance and its history, as well as details about Pan Oceanic Insurance Brokers Ltd. It discusses what insurance is, the origins of insurance dating back to disasters in London in the 1600s, the development of insurance companies over time, and the insurance market in Tanzania. It also outlines Pan Oceanic's mission, services, industries served, insurance solutions offered, clients, and target businesses.
3. ? an arrangement by which a company or the state
undertakes to provide a guarantee of compensation
for specified loss, damage, illness, or death in return
for payment of a specified premium.
? Risks Transfer Mechanism
? It is a legal Contract
5. The Great Plague- 1660
? London was inflicted with a plague
that killed an estimated 100,000 people
—almost a quarter of London's
Population.
? So many people fled the City and
King Charles II of England, fled
? The authority were totally defeated by
This epidemic
? In 1666 another disaster occurred
great fire of London!
London – City of Rats
6. Destroyed much of the City of London however the fire
put an end to the epidemic – Burned All rats in Town.
After the fire disaster, Londoners rebuilt their city and of
course without any rats !
Also, they took measure about better fire safety by
establishing a Fire building society and the Idea of
Insurance came out on how to pay for repairs.
The Great Fire London 1666
7. Insurance Chronology
? In 1680 the first fire insurance company, the ‘Fire Office’
was set up by Nicholas Barbon
? Marine/Ship and Cargo started in 1688 at Lloyd’s Coffee
House Tower Street, London.
? The first life insurance policy was sold in London in 1693 to
William Gybbons
? Then Insurance begin to spread throughout Commonwealth
, Europe and America
8. ? In 1799 - Perhaps the most famous maritime loss at Lloyd’s was
that of the HMS Lutine. It lost vast sum of gold and silver
? The ship’s great bell, which was salvaged in 1857, hangs in the
atrium of Lloyd’s underwriting room.
? The Lutine Bell rang Once when bad news came from the sea
? It rang twice means a relief to merchants
? Today, the ringing of the Lutine bell is generally limited to
ceremonial occasions, although in rare instances exceptions are
made. For example, the bell was rung following the terrorist
attacks on September 11 2001
Other Facts
10. Tanzania Insurance Market
The real Insurance Business started in Tanzania with the establishment of the
The National Insurance Corporation of Tanzania (NIC) (T)- in 1963 with
Government ownership (51%) , while (49%) was shared by
? Munich-Re,
? Swiss-Re and
? Colin Hood Insurance Brokers Limited.
In 1967 NIC was Nationalized by the government .
? Zanzibar Insurance Corporation-was also stablished in 1967 by SMZ.
? During 90s the Government once again returned to a liberalized economy and
In 1996 The Insurance Market was Liberalized and as of today, we have 31 Insurance
companies
? In 1998 Brokers were allowed for First time
11. Four Year later Pan Oceanic Insurance Brokers ltd started operation on January 2002
OUR MISSION
To be trusted advisors in providing protection and insurance
solutions to our customers.
OUR VISION
? To excel in all areas of business with
? honesty,
? integrity and
? innovation.
12. About Us & Services
? 17 years with Tanzania Market
? Qualified Staff
? We represent the buyer of insurance
? We work with ALL Insurance Companies with
strong relations
? Claims settlement MOU with Insurance
Companies
? We Understand your risks
? We specialize in custom designed policies (if
you have a unique problem, we probably have
the solution)
13. Aviation
Transport and Logistic
Shipping industries
Construction
Tourism and Hospitality
Agriculture
Education
Entertainment and Media
Financial Institutions
Mining, Energy and Gas
Sports
Real estate
Individuals & Retail
INDUSTRIES WE SERVE
14. Aviation Insurance
Health insurance
Business insurance- Fire
, Burglary etc.
Motor insurance
Marine hull and cargo
Terrorism and Political Risks
Personal insurance-
Accident /Property
Engineering and
Construction insurance
Travel Insurance
Life Insurance
INSURANCE
SOLUTIONS
15. ? This is exactly why you have insurance
? We’ll work hard to get your life back on track.
? We have MOU with some of the leading
Insurance Companies that Guarantee speedy
claim settlement depending on type and
extent of the claim.
? In some cases, claim can be settled within 7
Days from the date of intimation.
16. WE ARE WORKING WITH BEST INSURANCE
PROVIDERS
? ALLIANCE INSURANCE
? MAYFAIR INSURANCE
? HERITAGE INSURANCE
? SANLAM
? GA INSURANCE
? IMG GLOBAL
? RELIANCE
? THE JUBILEE
? STRATEGIES
17. We are part of the wonderful associations -
TIBA(Tanzania Insurance Brokers Associations)
and IIT(Insurance Institute of Tanzania)
We are also fully automated by Imatic Solutions