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Western countries.
“In our quest to offer excellent products and services to our valued clients while at the same time marketing Zimbabwe to the world, we have entered
into a partnership with Mapfre of
Spain for our international travel assistance insurance product that will see our clients being covered when they travel beyond our borders through our partner.
“We as Champions Insurance undertake to cede to Mapfre , who is obliged to accept 100 percent of the risks assumed by us of the reinsurance premiums in accordance with mutually set conditions
agreed upon,” said Mr Nathan Chikono managing director for Champions Insurance company.
Having been locked in negotiations to come up with the travel assistance insurance product’s terms and conditions among other benefits a
deal was subsequently struck and Champion Insurance is now offering the product to its customers.
“Having signed the partnership agreement in October 2011 all logistical issues are now in place
and clients are free to approach our office for details pertaining to this product,” added Mr Chikono.
The partnership is likely to boost Zimbabwe’s tourism industry as the country is being marketed to most of Europe and the world at large while also emphasising that the country is a safe business hub for prospective investors.
“Mapfre currently operates in more than 43 countries worldwide and it is a reputable company so by partnering with them we believe we are selling Zimbabwe especially at a time the country is trying to recover from a decade long economic melt down,” said Mr Chikono.
Product benefits include medical expenses and hospitalization abroad, repatriation in case of illness or accident, legal defence, repatriation of mortal remains and delivery of medicines and these are accessible worldwide.
“Under this agreement, Champions will communicate to Mapfre who are the reinsurers by notice given in writing any intention of introducing changes in the general policy conditions or any particular or special condition and is not allowed to modify any information without the prior written consent of the reinsurer,” added Mr Chikono.
“Mapfre will also bear 100 percent of the cost of claims, the settlement expenses including those arising in the management and maintenance
of an assistance framework and the cover limit for a client will depend on which plan they are on.
“They will also put in place necessary agreements and arrangements with suppliers and service providers as well as what is actually required to maintain the management of assistance at the maximum level of efficiency,” said Mr Chikono.
In 2009 Mapfre was ranked number 21 on the Global top 40 world’s best companies in the US magazine Business Week which included companies that have a commitment to innovation, diversified portfolios, aggressive expansion, strong leadership and a clear vision for the future.
These companies were drawn from about 18 countries and industries in the world and Mapfre was the only insurance company in the world on the list and the first in the world’s financial sector.
Online Reporter