Zemen Insurance S.C.

Zemen Insurance Share Company (ZISC) is a privately-owned insurance firm founded by 926 shareholders. It was officially registered with the Ministry of Trade and Industry on January 24, 2020. The company received its non-life (general) insurance license from the National Bank of Ethiopia on January 17, 2020, and commenced its insurance services on June 5, 2020.

Vision

To be one of the top five Insurance company in Ethiopia by 2035

MISSION

To render outstanding insurance service to its customers by using qualified staffs, state of the art technology, sustainable, vigorous growth and ensuring profitability through socially responsible manner and contribute the insurance industry’s growth.

Core Value

Core value of Zemen Insurance is "Trust"

• T=Timely- Provide Timely Response
• R=Resourceful-build capacity and professional
• U=unique- add value through innovation and creativity
• S=Service-Provide Quality Service
• T=Teamwork-collaborate openly and Honesty

Zemen Insurance has the following products and service

1. General Insurance
2. Life Assurance
3. Travel Insurance

General Insurance (Non-life Insurance)

• Property Insurance:
• Motor
• Engineering
• Pecuniary
• Fire
• Marine
• Transit Risks
• Liability Insurance:
• Workmen’s Compensation (Employer’s Liability)
• Product Liability
• Public Liability
• Professional Indemnity (e.g., for doctors, architects, accountants, lawyers, insurance agents)
• Other Liability Policies
• Insurance that combines liability and property (e.g., motor, engineering products):
• Liability of the insured
• Property coverage

Products

Fire and Allied Perils Insurance

• Fire and Material Damage: Commercial/Industrial
• Fire and Material Damage: Private
• Burglary and Housebreaking
• Consequential Loss Insurance
• Domestic/Householders’ Comprehensive Insurance

Engineering Insurances

• Contractors All Risks
• Erection All Risks
• Electronic Equipment
• Contractors Plant and Machinery
• Machinery Breakdown
• Deterioration of Stock
• Advance Machinery Loss of Profit
• Machinery Loss of Profit

Pecuniary Insurances

• Money Insurance
• Fidelity Guarantee Insurance
• Bonds:
• Bid Bond
• Supply Bond
• Performance Bond
• Advance Payment Bond
• Retention Bond
• Maintenance Bond
• Different Customs Bond

Marine Insurance

• Marine Hull
• Marine Cargo (Air, Sea, and Inland)

Motor Insurance (Private & Commercial)

• Own Damage
• Third Party, Fire & Theft
• Comprehensive (Includes 1-3 covers)
• Third Party including COMESA Yellow Card Cover
• Motor Trade

Liability Insurance

• Public Liability
• Products Liability
• Inland Carriers’ Liability
• Employer’s Liability/Workmen’s Compensation
• Professional Indemnity
• Directors’ & Officers’ Liability

Other Insurances

• Plate Glass
• All Risk Insurance
• Motor
• Householder’s Comprehensive Insurance

Life Assurance

Travel Insurance

• Launched in collaboration with MAPFRE ASISTENCIA (since September 2020).
• Covers global travel including North & South America, Europe, Asia, Africa, Israel, South Arabia, etc.
• Pilgrimage travel insurance for holy places.

Basic Coverage for Travel Insurance:

• Personal Assistance
• Medical Transportation and Repatriation
• Medical Expense (including COVID-19)
• Repatriation of Mortal Remains
• Luggage Protection
• Cancellation/Delay/Curtailed Travel
• Personal Accident
• Personal Liability
• Complementary Medical Covers
• Complementary Card Covers