CBZ Insurance to grow on new strategy

CBZ Insurance to grow on new strategy

Staff Reporter

CBZ Holdings says it sees growth in the group’s insurance business going forward hinging on new strategies the group is implementing, Insurance 24 has learnt.

The group board chairperson Marc Holtzman last week said the growth of insurance is positive leveraging on the fact that insurance penetration rate is only 2%.

“We have our insurance business which I see tremendous growth in. It has growth opportunities,” he said.

He added that insurance is now of those products which are not bought but sold .Insurance penetration in Africa is only 2% of the population.  People don’t walk up the street saying I want to buy, but generally speaking it’s up to our team to educate our customers and the population at large on the benefits of insurance at.

“And in that respect, the growth of insurance is positive,” he said.

Recently, CBZ Insurance unveiled an international travel insurance which is set to benefit policy holders on matters of personal safety, baggage damage and other unforeseen financial losses going away for trips.

Holtzman said the group was constantly looking at opportunities to grow the portfolio along with the asset management business which is also growing in the year.

“We are one of the largest property holders in the country and we are constantly looking at ways to monetize and bring value through those properties. Incidentally the property market has been a great hedge against fluctuations in the country,” he said.