Seesam Insurance AS is an international non-life insurance company, which provides the full range of the risk insurance service.
“Seesam Insurance AS” Latvian Branch participates in the campaign “Praise excellent service” for the second time, and this year receives the highest recognition score and is recognized as the best service company in the financial sector, in the category "Insurers".
As the first company in the Latvian insurance market, „Seesam” has started offering a combined insurance service intended for farmers that is of special interest to larger farms. This combined farm insurance product has been developed by specialists of „Seesam” taking into account the Latvian farmers' views and preferences as well as experience gained in foreign countries.
From June 20, 2011 the sole shareholder of the JSIC “Seesam Latvia” is the Estonian company “Seesam Insurance AS” – a 100% subsidiary of the non-life insurance company “Pohjola Insurance Company Ltd.”, which is a member of “OP-Pohjola”, the largest and most well-known financial group in Finland. After reorganization, in the result of which all the “Seesam” companies operating in the Baltic Countries are merged, “Seesam Latvia” becomes the “Seesam Insurance AS” Latvian Branch taking over all the liabilities of “Seesam Latvia”.
The international rating agency Standard & Poor’s has increased the safety rating of „Pohjola Insurance Ltd.”, the parental company of „Seesam Insurance AS”, from A+ to AA-, which is one of the highest ratings among the insurance companies operating in the Scandinavia and the highest among the non-life insurance companies operating in the Baltic Countries.
‘’Pohjola Non-Life Insurance Company Ltd’’, a non-life insurance company owned by the largest Finnish financial group ''OP-Pohjola Group'', has become the sole shareholder of the JSIC ‘’Seesam Latvia’’ and of the ‘’Seesam’’ non-life insurance companies in Estonia and Lithuania. To confirm the long-term objectives of the company shareholders in the Baltics, to underline membership in the largest financial and insurance group in Finland, and to guarantee financial stability and safety of the parental companies of the group, Seesam companies in Latvia, Estonia and Lithuania have introduced the brand of the group companies.
Travel insurance, MTPL insurance, KASKO insurance and private person property complex insurance e-policy and 24/7 e-sale system has been introduced. Seesam is the first company in the market who has introduced the „Partner Program”, which provides opportunity to cooperation partners to earn money by attracting visitors to the Seesam’s e-sale on the web site and using for this purpose a specially created link to the Seesam’s e-sale system. Expanding access and customer service, Seesam has opened a regional customer service centre in Valmiera. Seesam is carrying out market and customer needs surveys and studies, and on the basis of the surveys Seesam has created new products – Start KASKO, Economy KASKO, Super Kasko, Room Policy, etc. To improve customer service, 24-hours service “Help on the road” has been introduced. Introduction of risk factor-based pricing for products. An unprecedented in the insurance market advertising campaign ''Night Policy” ensured a record-breaking number of visitors of the company's website and e-sales system. Health insurance electronic smart cards have been introduced. Development of a new complex IT system for management of insurance contracts, claims and customer relationship and business processes has been started.
JSIC Seesam Latvia continues to grow. The Company's gross written premiums increase by 23%, which is almost two times faster than the average for the non-life insurance market sector, amounting to 14.53 million LVL, while the gross insurance indemnities paid to clients increase by as much as 74%. For convenience of the customer service, a 24-hours assistance and information telephone line is introduced. More than 450 contractual cooperation organisations ensure full and qualified medical care and rehabilitation services for JSIC Seesam Latvia health insurance clients throughout the territory of Latvia.
JSIC Seesam Latvia continues to be one of most outstripping growth company in its field- company’s bruto signed Premium grows about 61 % in comparison with previous year, comparing 11.84 million lats but company’s gains first time exceed limit of 1 million lats - 1.30 million lats. Gains are not splited in dividends and fully are left to company’s further growth and development. JSIC Seesam Latvia continues to develop regional representation and network of collaboration partners, improving positions in regions of Liepāja, Ventspils and Daugavpils. Providing of clients maintenance service has opened new client service station in Teika, Ropažu iela 93.
- In 2006 we started to offer two new services – OCTA or the insurance of civil liability for the land vehicles, and the health insurance for the employees of the legal persons.
- We started the active selling in the regions and we opened the first branch offices in Liepaja, Daugavpils and Ventspils.
- When the company grew, the office premises in the Old Riga, Torna 4 – 1B became too small for us and we moved to more spacious premises in Vienibas gatve 87h. In the former office premises we made our Client service centre “Vecriga”.
- We implemented the insurance IT system – SAIKAS.
- In October 2005, the Bank of Finland "OKO Osuuspankkien Keskuspankki Oyj" (OKO Bank) purchased the share parts of the Seesam Latvia shareholder, Finnish insurance company Pohjola group plc, wherewith Pohjola became the affiliate of OKO Bank.
In 2004 we concluded the agreement between the shareholders about the repurchasing of AIG parts, and since 5th of March 2004 the only shareholder of Seesam Latvia is Phjola Group plc. At the same time, when the shareholder was changed, there was made the decision to start the restructuring of the company from the niche company to the company of universal type, which offers the wide range of the service for both legal and physical entities.
JSIC Seesam Latvia opens its first regional agency in Liepaja, Kurmajas prospect 8. Company’s gains after taxes grows until 686 thousand lats.
To provide fully insurance service, there is substantiated JSIC Seesam Latvia sisters company – life insurance stock company Seesam Life Latvia, who broaches administration of life insurance services.
JSIC Seesam Latvia becomes one of leading insurance corporations in Latvia in insurance of juridical person proprietary. Company’s bruto reconsidered premiums gorws about 47%, reaching 2.84 million lats, but gains after taxes reaches 458 thousand lats. JSIC ‘’Seesam Latvia’’ has employed 21 employee.
Company’s name is changed from Famlat to Seesam, in that way establishing unified name and brand AIG and Pohjola joint ventures in Estonia, Latvia and Lithuania.With name Seesam and brand AIG and Pohjola joint venture in Estonia works since 1991 may. Name Seesam is arisen from word reduction in Estonian – Soumi-Eesti-American.
JSIC Seesam Latvia starts corporation with stock company "Aizkraukles Banka" and stock company AS ‘’Hansabanka’’ physical persons insurance field. Company’s bruto signed premiums grows about 62% reaching 1.93 million lats, but gains after taxes reaches 190 thousand lats. In Estonia has approched first summer sport games on which involves company’s Seesam employees from Estonia, Latvia and lithuania.
Company moves to a new Office places in Old Rīga, Jēkaba Kazarmās, Torņa iela 4. Company’s signed bruto Premium amount exceed 1 million lats - 1.19 million latsand year has ended with first gains F 11 thousand lats. In company has employed 13 employees.In september 1st 1997 in Latvia has established insurance system of OCTA, but on this basis comopany’s strategy and desision F shareholders, company are not participating in administration of insurance servicing of OCTA.
In july 19 one F biggest insurer in te world American International Group Inc. (AIG) and leading insurer group in Finland Pohjola Group plc. Substantiated joint venture- insurance stock company ‘’FAMLAT’’, what means Fin-American-Latvian. In company works 3 employee.