Canopy Insurance performing above expectations

Business

Canopy Insurance performing above expectations

Friday, June 26, 2020

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Just over a year after announcing a joint venture between the GraceKennedy and the Musson Group to enter the group health and life insurance market under the brand name Canopy, GraceKennedy Group CEO Don Wehby is signalling confidence in the investment.

“GraceKennedy is extremely happy with Canopy's performance to date. The company is performing exceptionally well, having signed a number of clients ranging from small entities to large, blue chip accounts,” a company release quotes Wehby.

“Revenues since the company started operations in the fourth quarter of last year have exceeded projections, with the number of members covered exceeding projections by 43 per cent. We believe that this will continue to be the trend, and that Canopy will become a formidable force to be reckoned with,” Wehby said.

He highlighted Canopy's value proposition to the market, stating that clients were impressed with the company's customer experience in the group health and life insurance market, and the provision of a hassle-free, modern approach to insurance.

“The feedback has been great from our clients, who appreciate the ease of use of the Canopy platform. They really believe that the Canopy model has changed the game, and we are very proud of that,” he said.

Wehby, who also serves as Canopy chairman, commended Canopy CEO Sean Scott and his team for the progress the health insurance company has made in the relatively short time it has been operational.

He also commended the company for its commitment to promoting health and wellness, through the launch of Jamaica's first online fitness and wellness platform Camp Canopy, which is free to all Jamaicans.

“Canopy's commitment to aid in the fight against COVID-19 through its online wellness platform is a demonstration of great innovation in a time of crisis. This platform is not only about exercise and healthy eating, it shows Canopy's commitment to giving back, which is in our DNA at both GK and Musson,” Wehby said.

The release explained that Canopy was born out of a passion by GraceKennedy and Musson to contribute to Jamaica's development, as well as their commitment to growth through innovation.

According to Wehby, the company is delivering on that promise.

“GraceKennedy is committed to supporting Canopy's growth. I am confident that the company will continue to do well, which will be good for the performance of the GraceKennedy Group overall,” Wehby added.


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