ZIMNAT
246 close , which is a massive positive for the business . “ My role at the moment is preparing the technical space to be ready for the full speed digital , which probably won ’ t be for another 12 months .”
Traditionally , Africa has experienced major problems with connectivity and geography proved a problem for Zimnat . “ Connectivity has always been a problem here ,” Chirokote says . “ The cost of data , for which I can actually put to a physical product , is very expensive . You have to ask yourself how you can keep costs down for your customers . “ But if you keep that cost down , it reduces the business . So , we needed to come up with an optimum solution which wasn ’ t too expensive . The other challenge was that we wanted to reach out to customers who didn ’ t live in the big cities , in areas that are virtually impossible to reach in a bricks-and-mortar approach . We looked at other channels such as the mobile business
and made sure that the digital side was fully employed into the insurance space .”
The millennials are the emerging target for many insurers but for many , as well as those older customers , there is a palpable distrust of insurers after the global economic collapse in 2008 which saw some companies defaulting on their responsibilities . “ I think the challenge for insurance companies is to create a trust between them and the clients ,” Chirokote continues . “ Making an insurance sale is very difficult when there is no trust . Because of the uncertainty politically in the country , people would rather hold back and see if things change before committing
JULY 2018