Raj Singh Insurance Brokers & Risk Management Consultants Inc, which managed to secure the second largest insurance account in the country earlier this year, was on Wednesday named business of the year by the Georgetown Chamber of Commerce and Industry (GCCI).

Since its start-up in 1999, the company has expanded with two branches in Florida. It has a marked emphasis on automation of its operations,  according to Raj Singh, the company’s President.

In 2003, the company opened a franchise office in Florida and expanded with a second office in 2007, and earlier this year it invested close to US$500,000 to construct a modern four-storey commercial complex on Carmichael Street.

Singh told Stabroek News that the company has been self-sufficient in its business operations throughout its existence and that it has continued to turn over profits within recent years; annual turnover now is in excess of US$5M. He noted too that the company services a customer base of around 5,000 in Guyana, the Caribbean and North America.

The GCCI award was in recognition of the company’s outstanding contribution in the areas of business success, innovation, customer and community service. Singh said the recognition was humbling, but noted that he has worked extremely hard over the years. “It is recognition that I alone cannot receive because they are persons around me who work equally as hard and have been supportive,” Singh added. He noted that the company has been particularly aggressive in pursuing the sale of optional motor insurance products to the insuring public.

Further, he pointed out that staff is actively encouraged in their personal development and that the company grants its staff time off for training courses and seminars. He said too, that if employees are successful in their studies the company refunds the costs of their examinations and course materials.