Clients of Amanah Insurance Company received surplus awards during the event in Juba. Photo: Wol Mapal/Eye Radio

Amanah Insurance Company is seeking to redefine the relationship between insurers and their customers in South Sudan by sharing part of its annual surplus with eligible policyholders.

The company held its annual Surplus Sharing event in Juba on Tuesday under the theme “Sharing Prosperity, Honoring Trust,” bringing together clients, company officials and prospective customers for an event Amanah says reflects what makes its business model different from conventional insurance.

Since beginning operations in South Sudan in 2023, Amanah has expanded its insurance services across several areas, including medical, motor, travel, fire, general and business insurance. Its wider product portfolio also includes comprehensive and third-party motor insurance, goods-in-transit, group personal accident, burglary, marine, employers’ liability, property and contractors’ all-risk insurance.

The company also provides medical insurance with access to a network of hospitals across East Africa, according to its published product information.

But beyond the range of products it offers, Amanah says its surplus-sharing model is one of the features that distinguishes it in the South Sudanese insurance market.

Turning insurance into shared prosperity

Unlike a conventional arrangement where customers pay premiums in exchange for coverage, Amanah operates its surplus-sharing initiative under a Takaful model, in which participants contribute to a common risk fund.

According to the company’s Head of Underwriting, Worda Elmi, the fund is used to meet eligible claims and other risk-related obligations.

At the end of the financial or underwriting period, the company reviews the fund after claims have been paid and provisions made for outstanding obligations.

If money remains in the pool, Elmi explained, that balance becomes the surplus.

“If there is amount that’s remaining in the shared pool, that’s what we call a surplus,” she said.

The surplus is then distributed among eligible participants according to Amanah’s risk-sharing methodology.

However, Elmi clarified that the distribution does not apply automatically to every policyholder.

Customers with no utilization or lower utilization of their insurance coverage are considered eligible because they have placed less pressure on the shared risk pool.

She said the company first fulfills its primary obligation of paying claims before any surplus is declared.

“If there is no remaining in the balance, there is no surplus sharing,” Elmi said.

She described the model as representing the principles of mutual protection, shared responsibility and shared success.

‘We give back to our clients’

For Jok John Bol, Amanah’s Head of Sales and Marketing, the surplus-sharing event was born from what the company identified as a gap in the insurance market.

He said the company wanted to create a mechanism through which customers could directly benefit from the business relationship they have built with Amanah.

“We give back to our clients and appreciate them for the business that we have been sharing,” Bol said.

According to Bol, eligible customers may receive their surplus share in the form of cash or a check.

He said the initiative is intended to thank customers for their continued support while strengthening the relationship between the insurer and its policyholders.

Amanah currently offers several classes of insurance, including medical, motor, travel, fire and general insurance, as well as products designed for businesses and individuals.

Its motor portfolio, for example, includes comprehensive and third-party cover, while its business-related products include contractors’ all-risk, goods-in-transit, marine, fire, burglary and employers’ liability insurance.

‘This is what separates us’

For Joe Gakaya, CEO of Amanah Insurance South Sudan, the surplus-sharing initiative is not simply a financial distribution.

He described it as a demonstration of how the company views its customers, as partners whose business contributes directly to the success of the insurer.

Gakaya, who said he has more than 20 years of experience in the insurance industry and has worked with Amanah for about two and a half years, said the event is unusual compared with his experience working with other insurers.

“The event that we’re having this morning is a very, very unique idea which separates us from the other insurance companies,” Gakaya said.

He said Amanah recognizes that customers are central to the company’s success and should therefore benefit from the profits generated through their business.

“You, our clients, are the ones who have made this possible. And so, we are sharing back with you and saying, ‘Thank you very much for the business support that you have given to us.’”

Gakaya said the initiative is also meant to strengthen the company’s relationship with existing customers and demonstrate to prospective clients that Amanah seeks to deliver on its promises.

He challenged potential customers to judge the company not only by its surplus-sharing initiative but also by its claims and service delivery.

“Come, try us. You’ll also see how different we are in terms of ensuring that you get your claim service in time,” he said.

Regional medical support

Amanah is also emphasizing its regional footprint as part of its service offering to South Sudanese clients.

The company says its medical coverage provides access to hospitals across several countries, while its regional operations are designed to assist clients who require medical services outside South Sudan. Its published information lists medical coverage across South Sudan, Kenya, Uganda, Somalia, Somaliland, Ethiopia, India and the United Arab Emirates.

Gakaya said the regional network is particularly important for medical insurance clients who may require treatment outside the country.

The company says its approach is intended to bring medical services closer to policyholders and provide support when they need it most.

Clients testify to their experience

The ceremony also provided a platform for long-standing customers to share their experiences with Amanah.

Some of the clients have been insured with the company since it began operations in South Sudan in 2023 and spoke about their experiences dealing with the insurer.

Their testimonies provided a customer perspective to Amanah’s emphasis on trust, service delivery and long-term relationships.

For a company operating in a market where public understanding and confidence in insurance remain important challenges, Amanah says such relationships are critical to expanding the sector.

More than an insurance policy

Amanah says its broader objective is to change the perception of insurance from simply being a financial obligation to being a mechanism for protection, shared responsibility and financial resilience.

Its published portfolio covers individuals, families and businesses, ranging from medical and mother-and-child care to motor, travel, fire, property, burglary, marine, personal accident, goods-in-transit and employers’ liability insurance.

But Tuesday’s event placed the spotlight on one particular aspect of the company’s model: what happens when customers use their insurance responsibly and money remains in the shared risk pool.

For Amanah, that money can become an opportunity to reward eligible policyholders.

And that is the message behind its theme, “Sharing Prosperity, Honoring Trust.”

As Amanah continues to grow in South Sudan, the company is betting that its surplus-sharing model can help build a different relationship between insurers and their customers, one in which policyholders are protected when they face risks, while eligible customers can also share in the benefits when the collective risk pool performs well.

In Amanah’s model, insurance is not only about paying when things go wrong; it is also about sharing when things go right.