The one silver lining from recent months might be that the diminished presence of drivers on the road has resulted in less auto accidents. In fact, due to the coronavirus pandemic, the number of motor accident injury claims fell dramatically between April and June, according to data released by the Compensation Recovery Unit (CRU) in response to a Freedom of Information (FOI) request from the
Covid 19 – Funeral assurers considering reinsurance strategies?
HARARE, As late as 2015, about 90% of funeral assurers in Zimbabwe did not have reinsurance as a risk management tool and to date the figure has shot to 100%.
With the Covid-19 pandemic weighing down on assurers, the risk position of funeral assurers is set to worsen.
The market should price itself
By Equity Axis
HARARE, Last week the government put in place a legislation charging any persons offering goods and service to quote both in local and foreign currency, for the products. The law follows a sustained disharmony between the local prices of goods and the comparable USD price charged at the point of sale (implied exchange rate)
State need to reform or risk sinking
The 2007-08 farm mechanisation saga continue to hog limelight after a leak revealed beneficiaries of the scheme. For over 12 years the beneficiaries of the US$200 million scheme have been kept secret by the state. Some were of the view that the controversial scheme was behind the 2015 RBZ debt assumption bill, which was then passed by parliament.
Insurance sales targets exerting pressure on agents
HARARE-“These days, the competitive environment is extremely challenging for most companies. The price, cost and innovation pressure is strong. At the same time, the expectations by the investors are very high: The return on the invested capital ought to be maximal.
“Companies set ambitious targets, which are defined for different
INSURING THE INTANGIBLE: DEVELOPING INTELLECTUAL PROPERTY INSURANCE IN ZIMBABWE
HARARE, Intellectual property (IP) is an intangible asset that is created or acquired by a company. Unlike tangible assets, such as plant equipment and goods; IP assets are not physical in nature. The difference between tangible and intangible assets does not end there, as tangible assets are vigorously
THE MICRO-INSURANCE REGULATORY FRAMEWORK IN ZIMBABWE
Nobert Musa Phiri: Partner Muvingi and Mugadza Legal Practitioners
The Insurance regulator in Zimbabwe, Insurance and Pensions Commission (IPEC) in June 2017 introduced a micro-insurance framework whose primary objective is to promote the development of micro-insurance in Zimbabwe by establishing a basis for
Between a Rock and a Hard Place – Insurance in a New Dispensation
HARARE, Insurance companies in Zimbabwe are currently faced with two very unpalatable options.
The first option is to continue to accept insurance premiums without adjusting for inflation, but this would leave their insured customers facing a significant shortfall between their insurance payouts and the replacement costs of insured
Tele- Marketing in Zimbabwe an Insurance viewpoint: Striking a balance.
By Hillary Mtandwa
A common misconception around tele-marketing is that it is there to replace the traditional way of selling insurance which is through brokers and agents. This misconception is far from the truth, on actual the two approaches to selling complement each other. It is the job of the astute marketer to ensure that
The importance of embracing mobile for insurance
HARARE, Even though the market has become more competitive in Africa, many insurers still rely on traditional methods to reach customers. While other industries have been pro-active in their adoption of mobile technology due to its convenience and reach, insurance has generally been slower to adapt. Ashok Shah, Group CEO of APA Apollo, examines this.
“Mobile technology can have