Chronicle Editor
Michael Magoronga, Business Correspondent
THE Insurance and Pensions Commission (IPEC) has urged players in the insurance and pensions industry to prioritise customers’ needs when rolling out their products to restore confidence in the sector.
Speaking during the 3rd edition of IPEC Journalism Mentorship Programme’s graduation ceremony in Harare last week, the regulator’s commissioner Dr Grace Muradzikwa said restoration of consumer confidence in the sector was their top priority in 2020.
Consequently, she said all stakeholders including industry players and the media, must play a critical role in revitalising confidence in the sector.
“I call upon the insurance and pensions players to be customer-centric as they roll out their products. Restoration of confidence should be at the fore of the 2020 agenda to ensure sustainability of the industry, particularly the risk business of the life sector,” she said.
“Confidence-building in insurance and pensions is among the 2020 strategic objectives for IPEC.
“This strategic objective was set on the back of declining consumer confidence, particularly in life assurance and business following the episodes of loss of value experienced in the last decade.”
Dr Muradzikwa said the media should play a critical role in achieving their targeted objective.
“It is IPEC’s conviction that the objective of restoring confidence cannot be attained without strong partnership with the media fraternity. It is, therefore, important that members of the fourth estate partner us in acknowledging the positives being registered in the industry and efforts underway to address legacy challenges affecting consumer confidence,” she said.
The reportage, she said should factor in diversity of audience and make full use of technological advancement.
Through the strategic partnership with the media, IPEC is advancing the national financial inclusion agenda by improving financial literacy through raising awareness on insurance and pensions issues.
“I therefore call upon esteemed ladies and gentlemen graduating tonight to continue with the work of demystifying insurance and pension issues. It is pleasing to note that the programme is growing from strength to strength significantly delivering increased awareness of insurance and pensions matters to the public.
“Indeed, policyholders and pensioners are increasingly becoming aware of their rights and responsibilities,” said Dr Muradzikwa.
The mentorship programme, which was launched in 2017, was designed to raise awareness among members of the fourth estate in order to inspire interest and media excellence in the coverage of insurance and pensions matters.
The 2019 class which started with 20 journalists saw 16 journalists from across the media fraternity walking away with certificates and prizes after 4 dropped out due to various reasons.
Zimpapers Midlands correspondent Michael Magoronga was awarded for his exploits with a Special Recognition Journalist of the year Award.
Freelance journalist Noah Kupeta won the Insurance and Pensions Journalist of the Year Award while The Sunday Mail’s Tawanda Musarurwa became the runner- up.
Melody Chikono from the Zimbabwe Independent and blogger Tendai Mukaripe were winner and runner-up respectively in the Best Technical Content category.
Other winners include Almot Magoqolo, Omega Ukama of the Financial Gazette as well as Fatima Bulla of The Sunday Mail.
Online Reporter
Bongani Ndlovu