Oromia Insurance S.C.

Oromia Insurance, established in 2009, has grown to become a leading provider of diverse insurance solutions. Offering Life, General, Takaful, and Micro insurance, the company is committed to delivering financial security and peace of mind to its customers. With a focus on innovation, operational excellence, and customer satisfaction, Oromia Insurance tailors its services to meet the unique needs of clients, building long-term relationships based on trust and accountability.

Vision

To Be a Leading Private Insurer in Ethiopia by 2030

MISSION

Oromia Insurance is dedicated to rendering competitive and inclusive insurance services by employing proper human resources and up-to-date technologies while effectively catering for the interests of all its stakeholders

Core Value

Core value of Oromia Insurance is

• Care
• Integrity
• Professionalism
• Teamwork
• Commitment
• Empathy

Oromia Insurance has the following products and service

• Life Insurance
• Non-life Insurance
• Agriculture & Microinsurance
• Halal Takaful Insurance

Oromia Insurance Life Insurance Overview:

• Purpose: Provides financial support to an employee’s family in case of death.
• Employer Benefit: Enhances company reputation and attracts talent.
• Peace of Mind: Helps ensure financial security for surviving family members.

Life Assurance Products by Oromia Insurance:

• Group/Individual Term
• Group Endowment
• Mortgage Protection Insurance
• Whole Life
• Ordinary Endowment
• Pure Endowment
• Anticipated Endowment
• Endowment Annuity
• Education Endowment
• Medical Insurance

Riders (Supplementary Contracts):

• Accidental Death Benefit (ADB)
• Accidental Death and Dismemberment Benefit (AD&D)
• Comprehensive Accidental Insurance Benefits (CAI)
• Waiver of Premium Benefits (WOP)
• Funeral Expense Cover
• Terminal Illness/Dread Disease Cover
• Permanent Disability Cover
• Supplementary Accident Coverage

Oromia Insurance Life Insurance Overview:

• Purpose: Covers non-life assets like homes and vehicles against risks such as fire, floods, accidents, theft, and man-made disasters.

Non-Life Insurance Plans by Oromia Insurance:

• Types:
• Property: Fire, Burglary, Plate Glass, Goods in Transit.
• Liability: Public Liability, Professional Indemnity, Workmen’s Compensation.
• Vehicle: Motor Insurance, Marine Cargo.
• Other: Engineering, Marine Cargo, Fidelity Guarantee, Travel Health, and more.

Oromia Insurance Agriculture and Microinsurance Overview:

• Purpose: Provides affordable insurance solutions to farmers, herders, and low-income individuals to protect against agricultural risks.

Microinsurance Products by Oromia Insurance:

1. Crop Insurance:

• Weather Index, Multi-Peril, Area Yield Index, Vegetation Index, Coffee Plantation.

1. Livestock Insurance:

• Index-Based, Multi-Peril.

1. Life Insurance:

• Term Life, Credit Life, with options for Funeral and Disability.

1. Health Insurance
2. Property Insurance

Oromia Insurance Halal Takaful Insurance Overview:

• Purpose: Provides Sharia-compliant insurance as an alternative to conventional insurance, respecting Islamic principles.

Key Features:

• Sharia Compliance: Free from any activities prohibited under Islamic law.
• Solidarity & Mutual Support: Encourages cooperation and mutual assistance among participants in times of need.

Benefits:

• Halal Insurance Contract: Clients receive Sharia-compliant insurance coverage.
• Indemnity from Takaful Fund: Participants can claim Halal compensation from the Takaful fund.
• Social Solidarity: Strengthens cooperation among participants.

Coverage Perils:

• Accidents, Fire, Theft, Liability, and More: Protection against various risks like accidents, fire, theft, and liability.

Available Takaful Products:

1. Property Takaful:

• Motor, Fire, Marine, Burglary, Plate Glass, All Risk.

1. Liability Takaful:

• Public, Professional Indemnity, Product, Carriers, Workmen's Compensation.

1. Pecuniary Takaful:

• Bonds, Fidelity Guarantee, Money Insurance.

1. Engineering Takaful:

• Contractors All Risk, Machinery Breakdown, Electronic Equipment, Boiler Takaful.

1. Accident Takaful:

• Group and Personal Accident.