In a conference for key stakeholders in the transport sector held at the Jamaica Conference centre on last week, British Caribbean Insurance Company (BCIC) offered 100 free tracking devices for those insuring with their company.
The conference was held under the theme “Driven – Driving Jamaica into the Future” and was a collaboration between the Ministry of Transport and Mining and the Transport Authority.
Minister of Transport and Mining Robert Montague presented at the conference and outlined his 16 point plan for the sector.
“It was important to bring all the key stakeholders in the transport sector together so that I could personally reiterate how vital my 16 point plan is to take Jamaica into the future.” he said. “The ultimate goal is to elevate the sector focusing on professionalism and safety which will benefit both the operators and the wider community at large.”
The Minister also gave away a free Amber tracking device to a lucky conference attendee courtesy BCIC.
The tracking devices were offered by BCIC in conjunction with Amber Connect for new public passenger vehicle customers. The installation of the devices is one of several requirements the Transport Authority will be implementing to regulate and monitor the safety of the public passenger vehicle sector.
BCIC Managing Director and Insurance Association of Jamaica (IAJ) President Peter Levy also made a presentation at the Conference. He focused on how the Minister’s plan could ultimately help transport operators lower costs.
He also outlined how the use of technology and, in particular, tracking devices included in the Minister’s plan, can change the way the insurance industry prices insurance premiums for the transport sector.
“Tracking devices can deliver equitable pricing of insurance premiums for public passenger vehicles,” he said. “The entire transport sector should not be judged by the behaviour of the worst offenders. Tracking devices will give us the chance to separate and appropriately price premiums based on safe driving practices.”
BCIC underwrites the major lines of general insurance including Property, Motor, Accident, Liability, Marine and Financial Guarantees. BCIC operates under a strict risk tolerance protocol which includes support from the biggest reinsurers in the world with first-class ratings from the major rating agencies. The organization has been a leading general insurance company spanning 57 years and operating in Jamaica, Barbados since 2017 and most recently, Turks and Caicos in 2019.
Source: Jamaica Observer