Eikos puts paid to rumours of its early demise

DOING THINGS differently has been the mission at Eikos Risk Applications which this month celebrates three years in business. Innovation was a major strategy when its heavyweight management team launched the company, and translated its vision into reality. The idea was to merge banking and insurance instruments to finance risk, a concept far removed from traditional insurance thinking, says Eikos senior shareholder Hugh Reimers. "Our first priority was the development of a platform in terms of a book of business to which the intellect and the specialised skills within Eikos could be applied. "This first phase, which is of course ongoing, has been very successful to date and we are now well positioned to begin, and are in fact well underway, in the development of products which provide the sort of "trade facilitation" we have for the past three years believed in. "With this concept now firmly entrenched, as the company moves forward, negotiations are underway which will significantly enhance our ability to deliver the service we subscribe to," he added. Eikos recently announced the launch of a new product specifically aimed at the household goods in transit sector. Marketed directly at the consumer (i.e. the home owner himself and the corporate who manages substantial staff movement locally and internationally, the product is seen to have excellent potential. "Marketed as SECURUS, (Or SecurUs), it will provide competitive insurance and service," says Reimers. "The service includes completion of inventory forms and cover at prices substantially better than the very high rates currently being levied by the existing channels. "Currently distribution of this cover is largely controlled by the removals industry. " Gavin Houlston has been employed on a partnership basis to manage the product. He has substantial experience in the delivery of this type of product having spent many years in the removals industry dealing with major corporate accounts as well as with the individual home buyer. "SecurUs is in line with our philosophy to use our core skills in risk finance and insurance to identify niches and bring value to our client base," says Reimers. He believes that the company has provided solutions which are superior in terms of profitability and service deliverables for the client, but convincing the target market that risk consultants can differentiate in a market place that remains frustratingly "bland" has been the challenge. "It is surprising (and frustrating) how often corporates stick with the "devil they know" notwithstanding lack of innovation and poor service delivery. However Eikos is committed to raising the bar for our competitors. We are here for the long term and are interested to see who manages to keep up."