Dear Clients and Business Partners,
We would like to address concerns that have been circulating in the marketplace regarding Cayman First Insurance Company’s financial stability and health. We pride ourselves on being transparent and want to provide you with the facts.
We have always taken considerable pride in our team, our levels of service, and our ability to adapt and innovate. To enhance our customer experience, we recently implemented an upgrade to our Health system and portal for the use of our clients, providers, and business partners.
The system implementation did not go as smoothly as expected. More importantly, it impacted our valued customers with issues such as:
- Health claim payment delays
- Declined service by some providers
- Long response times
- Issues accessing our online verification portal
A plan of action was implemented to address these issues with urgency, and we can now give the following updates:
- Health claim payments to providers are now fully up to date. Payments continue to be issued and distributed to all health service providers in a timely manner.
- Providers are confirming payments and are accepting our member ID cards. Our goal is for 100% acceptance in the very near future.
- We have re-launched the online verification portal so that service providers can get immediate verification.
- We have added extra personnel to service our customers in person, by phone, through email and the online portal.
- The system challenges were confined to the Health operations and do not affect our operations for Home, Motor and Commercial Insurance.
We understand the gravity of the situation and apologize for the inconvenience caused to all our customers, service providers and business partners. Cayman First is committed to taking the necessary steps to improve our service all while protecting you, your families, your businesses, your vehicles and your property from the unexpected hazards of life.
Cayman First continues to be recognized worldwide as financially stable with excellent ability to meet our ongoing insurance obligations. This is confirmed by our AM Best financial strength rating of A- (Excellent).
We thank healthcare providers for your patience and support through this transition. We are also incredibly grateful for the support of the Cayman Islands broker community who have partnered with us to support our customers through this transition.
We thank our Customers especially for your patience and loyalty as we continue to work to serve you better.
Sincerely,
Roger Balkissoon
Managing Director
CAYMAN FIRST INSURANCE COMPANY LIMITED
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