Our Strategy
SICOM Group is a leading Financial Services organisation in Mauritius. The strategy of the Group is to further consolidate its leading positioning in Mauritius by namely accelerating its transformational journey and ensuring a sustainable future for its business lines. Its objective is to become a digitally led organisation focused on further improving customer experience while also driving its growth and diversification agenda.
SICOM strategic pillars with sustainability and ESG as the underlying bedrock.
Building upon the foundation of the previous Strategy Plan executed, SICOM has started the implementation of our Strategic Plan 2022-2025 through the 5 pillars, with a resolute focus on “Consolidation, Execution & Sustainability” as overarching theme.
Business Growth & Diversification
SICOM is ambitious about growing its customer base and business reach in the untapped market locally. It has rolled out marketing and business development initiatives to make SICOM as a top of mind brand for customers looking for insurance solutions.
Customer Experience & Digitalisation
SICOM places great emphasis on enhancing customer service and distribution channels, ensuring that clients receive exceptional support and seamless access to its products and services. Moreover, product development remains a key priority, as SICOM strives to introduce innovative and market-leading offerings to meet evolving customer needs.
Governance & Risk
Recognising the growing significance of Governance and Risk Management in today’s digital landscape, SICOM has placed a strong emphasis on bolstering its corporate governance, risk management frameworks, policies and cybersecurity measures.
Employee Engagement & Development
SICOM values the critical role of its Human Resources in driving the organisation’s success and growth. As part of its strategy, the Group has outlined several key initiatives to strengthen this function and ensure the development and retention of top talent. A primary focus is the embedding of a new Performance Management System (PMS) platform to enhance our performance-driven culture that promotes transparency, accountability and continuous improvement. By nurturing a positive work environment and investing in the development and well-being of its employees, the Group aims to maintain a highly skilled and engaged talent pool, ensuring continuity and sustained success.
Sustainability & ESG
SICOM’s commitment to Sustainability & ESG initiatives has been further reinforced in financial year 2023 through the signing of three major agreements. SICOM has become a signatory of the UN Principles for Responsible Investment (PRI), an organisation dedicated to promoting environmental and social responsibility among the world’s investors, the UN Global Compact and SigneNatir for a sustainable and inclusive Mauritius, a community initiative led by Business Mauritius.
For a better Mauritius
Beyond its strategic pillars, the Group recognises the importance of transitioning to cleaner and more sustainable energy sources and is investing in renewable energy projects to contribute to Mauritius’ energy transition goals. SICOM is also exploring opportunities in the healthcare sector, aiming to enhance infrastructure and services in alignment with the evolving needs of the community.
Additionally, in line with its commitment to nation-building, SICOM is actively looking for opportunities to invest in the education sector, which aims to provide world-class opportunities and support the development of a skilled workforce. Furthermore, the Group is looking to foster innovation and entrepreneurship and is consistently exploring prospects in the FinTech domain which will help in the growth and development of the financial technology sector in Mauritius.
And Beyond?
In the face of ongoing economic challenges and rapidly evolving market dynamics, SICOM’s commitment to executing its strategy with precision and embracing sustainable practices becomes increasingly crucial. By aligning its operations and initiatives with the strategic themes outlined in the Strategy Plan 2022-25, the Group endeavours to thrive in a rapidly changing business landscape, deliver value to its stakeholders, and fulfil its responsibilities as a socially and environmentally conscious organisation.
Looking beyond, the Group remains focused on its growth and diversification journey, aiming to expand its revenue streams through the pursuit of new business verticals. Through innovation and market opportunities, SICOM is ambitious to invest strategically so as to capitalise on emerging sectors and explore collaborations with regional and international partners.