Staff writer
FINANCIAL jagganaut,CBZ Holdings Limited says it is looking at expanding its micro-insurance products to appeal to the market adding that it will take value from its micro-finance business going into the future.
This comes as the firm says it has several insurance products in the sector including the hospital cash plan and comfort shore plan among others.
Responding to questions during the group’s analyst briefing recently CBZH Insurance and Risk Management Taka Chinyani said the group’s micro-finance business, The Red Sphere already had a database for micro-finance.
“So you find that the micro-insurance sector is certainly a sector that you have we got appetite for. So what we are currently doing, we are already distributing micro-insurance products.
“If you look in our general insurance business, we have got what we call hospital cash plan, which is a micro-insurance product.
“If you look in our CBZ Life, we have got the Comfort Sure product, which again is a funeral cash product, which is a micro-insurance product. But going into the future, we are looking at taking value from our micro-finance business, which is Red Sphere, which already has a database for micro-finance,” he said
Chinyani added that from a strategic perspective, thr group was looking at broadening that sector, also looking at the products.
“We certainly need to develop further in terms of products that capture and appeal to that market,”he said
CBZH Group Chief Marketing and Corporate Affairs Officer,Matilda Nyathi said “Just to add on to that, we are very excited with our bank assurance product that we have launched through partnership with the bank and our insurance entities, where every client of CBZ with an active account will now be able to enjoy free cover, both funeral and hospital cash back.”
