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FMI Ltd

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FMI Ltd

Overview:

FMI has recently experienced a very exciting phase in our strategic development and at the same time has launched some exciting new product enhancements. With Lombard onboard as our new strategic partner and underwriter of our enhanced products, FMI is well on the way to meeting our strategic objective of growth within the industry.

As a result of the findings of research conducted previously FMI took the decision to maintain our niche focus in our area of expertise, namely Income Protection for business owners. With this in mind, our two new products are designed to work in conjunction with one another to provide effective cover for the business as a whole through safeguarding their two most important assets, the business owner and the employees.

Professional Elect has been incorporated into the enhanced Business Person Elect product to provide one comprehensive product with higher cover levels, a reduced number of limited benefits, an accident only benefit for those under the age of 32 and an annual review and re-instatement benefit to allow for a reduction or increase in cover. Our group product Vision has been re-launched into the market place with higher cover levels, increased free cover limits, the option of selecting a compulsory or voluntary scheme for employees, the ability to provide two different levels of benefits for different categories of employees and additional family benefits.

Both these enhanced products help ensure that FMI remains the leader in providing income protection benefits that are market leading and innovative. We firmly believe that the combination of a highly focussed product provider and the strong backing of our underwriters and re-insurers provide our client’s with an unbeatable risk solution.

History:

FMI was formed in October 1995 and began trading in May 1996 with the launch of our Business Protector Plan product. The formation of the company was in order to take advantage of an area of the insurance market that we perceived was not being effectively catered for. Our intention was, and still is, to provide packaged insurance products which contain benefits drawn from traditionally separate segments of the insurance industry, and which cater for the specific needs of niche market groups.

The Growth of the Company
FMI has, since its inception, been continuously developing and refining its sales and administration infrastructure to cater for its vision of ultimately being an international financial management group.

The growth of FMI over the past 10 years has been significant, both in terms of turnover, (from R2.5 million premium collected in 1995/6 to R91 million premium in 2006) and also in terms of infrastructural growth.

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