Presentation

Presentation of the BURUNDI INSURANCE CORPORATION «BICOR S.A.»

BICOR profile

  • 02/09/1991 : BICOR Company Registration date.
  • 06/12/1991 : BICOR Official Opening
  • 14/01/1992 : First insurance premium collection.

BICOR is a private company with a capital of 402,000,000 BIF
While the law requires 300,000 000 BIF
It is a shareholder in companies such as:
AFRICA – RE and ZEP-RE (Reinsurance)
EPHU (habitat) and QFRIC (coffee)
Member of pan-African organizations such as OAA, the FANAFR and GLOBUS network.

Insurance offered to customers

Non-life insurance

  • Automobile insurance for vehicles and motorcycles
  • Transport Insurance for all imports
  • Fire insurance covering several field including :
    • Building insurance
    • Insurance for electrical and electronic equipment
    • Acts of terrorism and sabotage Insurance.
    • Operating loss Insurance.
    • Office and residential furniture Insurance.
    • Facilities Insurance
  • Funds in safe and out of safe security Insurance.
  • Public liability insurance.
  • Public liability insurance.
  • Operating and professional Insurance
  • Public liability insurance.
  • Operating and professional Coverage.
  • Comprehensive Construction Insurance.
  • Ect.

Life insurance

  • Group life insurance.
  • Supplementary pension insurance.
  • Loan coverage.
  • Children’s education insurance.
  • Collective accident insurance for employees.
  • Travel insurance.
  • Etc.

Some of BICOR clients

In non-life insurance :

  • BRARUDI for all of its import activities.
  • U-COM for all of its insurance needs.
  • TOYOTA for all of its import insurances.
  • For SOGEA-SATOM comprehensive construction and automobile insurance.
  • BANCOBU for fire and funds security
  • MINOLACS for its imports plus fire insurance for all of its buildings and facilities.

BICOR insurance covers among other clients :

  • ENGEN petroleum at fuel importation stage, car insurance, fire insurance, all its buildings and service stations across the country.
  • INTERPETROL for total of its fuel imports and fire insurance against all of its buildings of Gitega and Bujumbura as well as its service stations
  • Ect…

In the area of Life insurance BICOR Insurance covers

The FDN (National Defense Forces)
Burundi based :

  • ACTION AID
  • ECOBANK
  • ANGLICAN CHURCH
  • Ect

Working languages

BICOR provides its services in English, French, Swahili and Kirundi.

Reinsurance

  • Enjoys reputable reinsurers such as AFRICAR-RE, ZEP-RE, TUNIS-RE, KENYA-RE AND BEST- RE and GROUPANA
  • Business placement within GLOBUS network: A Pan-African Network of more than 32 countries.
  • Our reinsurance treaties are available for those who wish to verify
  • All these reinsurers have an international rating by Standard and Poor’s and AM Best, which proves their financial strength

Underwriting procedures

Are recorded in our general terms and conditions provided to the client.

  • They are presented into English and French.
  • They are flexible since the policy of our company is to sell quality service at reasonable cost.

Compensation procedures

  • Are recorded in our general terms and conditions
  • Our motto: Satisfy the customer up to the point of turning the person  our spokesperson and marketing agent to the public.

Aware of the fact that the client is sad and injured person, we are flexible about the insurance fee with no dumping practices.

Determining the premium and related business benefits

  • Fixed premium following the insured value, cover granted and the degree of exposure
  • We are sensitive to the price determination but without dumping practices.
  • Customer’s behavior, prevention and protection measures taken do help in the appraising process of the risk.

BICOR Insurances Burundi Insurance Corporation s.a. SOS TRAVEL ASSISTANCE “ALTEUS”

Medical evacuation contract and travel assistance worldwide

  • Sanitary evacuation either at local or regional level
  • Repatriation to Burundi
  • Hospitalization
  • In case of loss of life :
    • Repatriation of the deceased person
    • Repatriation costs

Life insurance at BICOR S.A.

  • Yourself and family safety and protection
  • Your future and your retirement guarantee
  • Education for your children.

INSURANCES BICOR Burundi Insurance Corporation s.a
INSURANCES BICOR S.A

11, Avenue de Grèce
P.O.Box 2377 Bujumbura – Burundi
Tél : (257) 22 22 28 20
(257) 22 24 15 04
(257) 22 21 74 88
(257) 22 21 28 01
(257) 22 21 74 89
(257) 22 22 28 01
Fax : (257) 22 22 28 01
e-mail : bicor@bicor.bi