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Herald Correspondent
EcoSure, Zimbabwe’s largest life assurer by policy holders, won the 2023 Top Life Assurance Award at the Top Companies Survey Awards hosted by Old Mutual and The Financial Gazette at the weekend.
The annual awards recognize companies listed on the Zimbabwe Stock Exchange, as well as in the banking and insurance sectors, that have excelled in profitability, governance and corporate social initiatives.
EcoSure was recognised for its innovative approach to life insurance. Quality Insurance won the Short-Term Insurer Award while ZB Reinsurance clinched the Top Short-Term Reinsurer accolade. FBC Reinsurance walked away with the Top Life Reinsurance firm award.
EcoSure provides affordable, reliable and innovative life insurance solutions that include funeral cover, hospital cashback and personal accident cover, directly from the customer’s mobile phone, app, or the web.
The EcoCash Holdings subsidiary also offers a variety of products and services that are designed to meet the needs of a diverse range of customers. The company has a team of experienced and knowledgeable representatives dedicated to helping customers find the right life insurance policy to suit their needs.
“We are honoured to be recognized as the Top Life Assurer at the Top Companies Awards,” said Godwin Mashiri, Chief Life & Principal Officer at the holding company.
“The award is testament to our commitment to providing the best possible life insurance products and services. We are proud to be at the forefront of innovation in the life insurance industry.”
EcoSure has over the years played a pivotal role in increasing the country’s insurance penetration and raising awareness of benefits associated with long-term insurance.
Zimbabwe’s low insurance penetration rate, currently below 5%, is a major problem as it leaves many people exposed to financial hardship in the event of unexpected events such as funerals and medical emergencies.
Last month (September) EcoSure launched “Titambire Sethule”, an initiative aimed at increasing the insurance penetration rate, currently said to be below 5%. The initiative is open to both new and existing EcoSure customers who subscribe to the company’s USD Basic ($1), Standard ($2), or Premium ($5) plans and pay three months’ premiums in advance.
Participants will receive guaranteed airtime and automatically enter into monthly and grand draws with a chance to win various prizes, generous including holiday packages, gas stoves and solar lanterns, among many prices.
Mr. Mashiri said EcoSure had helped the market simplify the process of getting life assurance cover because one can now easily sign up on any package that suits their lifestyle, from an array of packages, using any type of phone by dialing *900# on their EcoCash registered line.
EcoSure, which works in collaboration with a wide network of funeral service touch points countrywide to expedite claims processing, offers affordable funeral cover with pay outs of up to US$5,000 per policy, from monthly premiums as low as US$0.50.
Online Reporter