NNAC‘s Partnership World

Brokers

NNAC subscribes to an intermediary-driven business model. One of these distribution channels utilises our extensive and well-established broker network as the delivery and support structure. Our broker networks all bring with them an optimal business infrastructure, and range from the leading general insurance brokers in their field to niche insurance brokers covering specialist classes of business.

Brokers work for the policyholder and are there to advise and to guide.

Need advice on contacting a new broker?

  • Contact a Senior Portfolio Manager in Gauteng, Riaz Kader, who can put you in contact with an appropriate broker.

Reinsurers

In 2004 NNAC entered into a strategic alliance with The Munich Reinsurance Company of Africa Limited (MRoA), the local branch of one of the world’s largest reinsurers and a much sought-after business partner. Munich Reinsurance operates internationally and applies a range of disciplines to produce technical solutions for the underwriting of complex international insurance risks. MRoA is a shareholder of the company and as such represented on the NNAC Board.

Our reinsurance treaties are now underwritten substantially by MRoA, along with the participation of Africa Re, Swiss Re and R&V Re. As the result of these associations, NNAC has the capacity to underwrite any type or class of business.

UMAs

NNAC subscribes to an intermediary-driven business model. Since 2000, we have benefited from partnerships with leading Underwriting Managers and Administrators (UMAs), each bringing with them the ability to service multiple brokerages and manage the full administration function, from initial query, quotations, insurance issuance, amendments, premium collection and claims processing.

We constantly review how we can allow our UMA partners to be more competitive in the market by working with them on new products and their method to market. This now forms an important segment of our business and is administered from our Gauteng offices.

UMA partners, as agents of NNAC, are subject to stringent regulations governing the administrative functions they perform, which have been introduced to further protect policyholders.

They conform to our strict guidelines around Treating Customers Fairly (an industry-wide initiative known as TCF) and are monitored according to adherence to these guidelines.

Our Procurement Chain

We’re constantly looking to refine our supplier network in order to offer the best services to our policyholders, but also satisfy our long-term commitment towards industry transformation.

Our suppliers are one of the faces of our company to our policyholders – they are there to assist policyholders at their time of need. As such, we look for reputable, efficient and customer-centric suppliers and vendors. If you believe you have what it takes to satisfy our stakeholders, offer value for money and help us with our mandate of ensuring transformation through black economic empowerment, please contact us.

Here are some guidelines as to what we look for in a long-term supplier partner:

  • A proven track record of success and quality – we look for a minimum 2 years’ worth of associated experience
  • The necessary industry qualifications
  • Rates and fee structure which are transparent and market-related
  • Experienced and qualified staff to maintain quality standards
  • An ability to meet the necessary regulatory requirements
  • A minimum level 4 BEE we strongly support the DTI’s BEE initiative and give preference to companies or sole traders according to this criteria
  • VAT registered

If you believe that your business qualifies according to these criteria, please contact us at dawns@nnac.co.za  with a business plan. If we like what we see, we will contact you to arrange a meeting.