Britam Insurance Group has emphasised the need for increased partnerships between insurance service providers and other players to reach a wider population with insurance services in the country.
Britam Group Managing Director Tom Gitogo said this in Blantyre during an appreciation cocktail that the firm organised.
He said partnerships are important because not every person can be reached by insurance brokers while emphasising that insurance is important to every individual.
“We are working with partners in the economy to reach those economic sectors unreached. For example, banks have wider reach than insurance companies. Therefore, we are working with all banks in Malawi in designing insurance products to reach their customers,” Gitogo said.
Insurance Brokers Association of Malawi President Delvin Khongono prayed for better remuneration, indicating that it has not changed since 1980s, yet the costs associated with insurance broking have increased.
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“Ours is a plea to consider the parameters on how they calculate commissions payable to insurance blocking firms by increasing the rate gradually over a period so that it does not cut deep on their side,” Khongono said.
Recently, Britam Insurance partnered Airtel Money, a move which will see people paying for insurance products such as life cover using Airtel Money.
