BSP Life Pays Out $94 Million

BSP Life paid out the company’s highest ever customer benefits since its inception, of $94 million, in 2023.

The payout is 13 per cent more than benefits paid out in 2022, with 100,000 benefit applications processed, averaging 1,900 a week.

“We take our responsibility of making a difference in our customer’s lives seriously. It’s our singular purpose, backed byefficient systems, streamlined processes, and a dedicated team,” Nacola said.

“We are delighted to report that the volumes of benefits continue to grow year on year, which means more Fijians are benefitting from their policies with us.”

Nacola said they prided themselves in paying the amounts out on time.

“As an insurer, we are obligated to pay benefits on time, all the time. Our turnaround times are closely monitored to ensure we consistently meethigh standards. Most payments are system-generated and processed on the same day they’re due.

Some require documentation which can be submitted on our website through a customer portal, which is then quickly assessed for payment.”

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