Polygon Underwriting

About Us

About Us

Why choose us?

In such a complex market, we believe that the finer details often make a big difference. That’s why we are passionate about providing a first class service, listening to our clients’ needs, and delivering straightforward solutions.

  • Underwriting Expertise
  • Collaborative thinking
  • Strong Partnerships
  • Dedicated Claims and Admin Teams
  • Proven track record

Type of clients?

Financial institutions, Retailers, Cash and Carry operations, Armored Car and Cash in Transit Operators, Cash Vault Operators.

Current clients

Insurer

Who, what and Insurer ratings?

GENRIC Insurance Company Limited

Polygon is underwritten by GENRIC Insurance Company Limited (FSP: 43638), an Authorised Financial Services Provider and licensed non-life Insurer.

In 2022, GCR Ratings has affirmed GENRIC’s national scale financial-strength rating of A-(ZA); with a Positive Outlook! This rating is an improvement from the previous rating, with the outlook revised from Stable to Positive.

The rating is underpinned by sustained improvement in earnings generation, quality growth, strengthening in liquidity, and strengthening risk adjusted capitalisation. 

This means that GENRIC has strong financial security characteristics compared to other Insurers in South Africa. The Positive Outlook means that increased stability in key metrics is likely to be credit positive over the medium term (i.e. the rating symbol may be raised).

Follow the link to the rating announcement here

Who We Are

Our Vision

To be rated by the insurance fraternity, as well as our clients, as being the leading underwriter to the valuable specie market.

Our Mission

To innovate and develop a comprehensive range of products, providing clients with the opportunity of alternative, customised risk management solutions.
To employ and develop skilled staff in delivering excellent customer service.
To provide profitable results for our business partners, ensuring sustainability.

Our Values

Total dedication to anticipating and satisfying our client's needs.
Unfailing commitment to quality, value and integrity.
We jealously guard and protect our entrepreneurial spirit and always seek to provide maximum value for our clients with sufficient flexibility to take the fullest advantage of being able to respond to changing business environment.

Our Objectives

Our business combines the traditional values of integrity and a strong business and work ethic with progressive developmental ideas to enhance our products, providing a sustainable, solid underwriting and risk management operation on behalf of all our stakeholders, our shareholders, clients, staff and suppliers.

One of the fundamental building blocks of our achievements has been our ability to and attitude towards paying claims. We are consistent, transparent and firm in the application of our claims philosophy, to ensure sustainability, profitability and secure a competitive advantage for our clients.

Notwithstanding claims service being the primary reason for purchasing insurance, any operation in the globalised business environment, with such a dedicated focus to consumerism and transformation, needs solid business objectives to succeed.

At Polygon Underwriting we commit to achieving quality in every aspect of our business, from the products we develop to the skills we employ and resources we use supporting them.

We are very proud of our comprehensive product range which we regularly develop to ensure it remains current with the needs of our customers. Our company structure facilitates decision making and rewards initiative as we focus on providing fast but consistent responsiveness to our partners and clients. No one of these objectives on their own can ensure a co-ordinated service offering without efficiency of operation in aspects such as costs, productivity and delivery.

With these corporate objectives supporting our vision and mission we constantly aim at achieving a sustainable market position, from where we are able to lead our competitors and set the benchmarks for development and service delivery.

We believe that it is due to our dedication toward adding value by playing a fundamental role in pro-active risk management and assistance in all matters relating that has made us the Leaders in Specie Insurance.