The compensation demonstrates Takaful's strength and commitment towards customer satisfaction. The ceremony, which took place at Alport's head office in Banjul, brought together officials from both Takaful Gambia Limited and Alport.
Takaful Gambia Limited is an Islamic insurance company in The Gambia, operating since January 2008. They are Shariah-compliant, meaning they follow Islamic principles in their business practices.
The company offers various insurance services, with a focus on mutual benefit and social justice. Headquartered in Pipeline, Fajara, Takaful Gambia has six branches across the country.
Their goal is to provide risk management and financial security services that are ethically sound, promoting peaceful coexistence and social justice.
Speaking at the presentation, Ndenneh Senghore, Chief Executive Officer (CEO) of Takaful Gambia Limited, noted that the presentation is a historic event to Alport Banjul but to Takaful Limited is a routine activity that they do.
Mr Senghore reiterated that the presentation of the claim settlement of machinery involving some insurance of 170,000 US dollars demonstrates their commitment towards customer satisfaction. The event, he said, highlights the importance of insurance coverage, noting that insurance is a risk transfer mechanism.
"They have this risk and then they transfer it to us. Thus, we are also obligated to make sure that where there is need for a genuine claim to be settled, we make sure that we settle as we are supposed to,” he affirmed.
He explained that Takaful Gambia does not have any problem in settling the claim simply because Alport Banjul is fully reinsured.
"We also thank our reinsurers on their support in respect of settling this claim, together with our co-insurers as well,” he said further. “There is a tradition that currently goes on here locally when we have certain risks that are beyond our retention capacities. Instead of ceding it out, we also share the risk locally amongst our few localists within the industry like Prime Insurance, who also deserves to be commended for their participation towards settling this claim."
CEO Senghore further explained that they handle the claim diligently and professionally. Stating that after the claim occurred, they were notified, and they sent their representatives to cover, conduct inspections, and give reports, which were communicated to the reinsurers.
He said they worked amicably with their insured to get them finally compensated.
"At any point in time, we made sure that our insured, Alport, was informed of the developments relating to the claim. Notwithstanding that all the reinsurers had settled, we decided, because of our financial strength, to take the lead and settle our client's claim, reassuring them that they are in safe hands," he said.
“We are proud to say that presenting this claim is not our first claim settlement to Alport. I believe this is our second claim settlement and currently, there is an ongoing one that we are currently processing. So we wish, on behalf of myself, my management, and the board of directors, to reassure Alport that you are in safe hands."
He indicated that Takaful Gambia is the only insurance company in the industry that has actually been paying profit sharing to its customers. While announcing that by the end of the year, there will be no claim report or settlement, Alport, Albayrak will also be entitled to profit sharing, he added.
He thanked Alport and Albayrak for their continued patronage, and promised to maintain the bond of friendship and the business relationship between their institutions.
The compensation, he said, is a signal for those that are not insured, to ensure they are insured, not only with Takaful, because insurance is key.
In his remarks, Cem Ozturk, Director of Alport Banjul, welcomed Takaful Gambia Limited, whom they are insured with, and have proven to be very professional and efficient in their service delivery.
They have reported more than three insurance claims and all of them have been settled without any problem, he pointed out.
"Alport Banjul takes its responsibilities seriously and all key assets of the ports are fully insured for smooth continuity of our operations,” he said. “Today Takaful Insurance is compensating us for one of our reach stackers, RS11, that has fallen unfortunately into the sea and the value of the machine was 170,000 US dollars , the claim process was smooth and transparent thus we are glad to receive a total amount of 170,000 US dollars as a cost of the same grain."
Director Ozturk reaffirmed their core partnership with Takaful Insurance, acknowledging that all claims submitted have been processed according to proper procedures.
He expressed gratitude to Takaful Gambia Limited, its board, management, and staff for their professionalism and efficiency.
“Alport Banjul remains focused on delivering excellence and maintaining strong partnership,” he reaffirms.
