Insurance giant Zimnat has launched a new product that the company believes is a game changer in the life assurance sector.
In a rather dramatic marketing campaign, Hararians woke up to a “mysterious safety deposit box” under heavy security guard right in the middle of the city at the entrance to the Joina City mall. Harare’s ever active rumour mill went into a frenzy over the unidentified box as many conspiracies started doing the rounds. Some suspected that it may have been a bomb, while others were of the opinion that it was left in haste by thieves after a failed robbery.
It wasn’t until Friday Morning that the box was uncovered and it’s contents availed to the sizeable crowd of curious onlookers and journalists.
Much to the chagrin of several onlookers who had perhaps bargained for something more sinister, all the box contained were flyers introducing a new insurance product on the market.
The insurance behemoth launched the Life Security Plan and the Life care plan, products the company believes are long overdue on the market.
Speaking at the launch, Zimnat Life Assurance General Manager Mr Workmore Chimweta said the company followed the plea made by the Insurance Commissioner Dr Grace Muradzikwa for insurance companies to treat customers fairly.
He said the product had a guaranteed annual cash back plan for subscribers as well as a profit sharing scheme.
“The value of cover you sign up for remains the same. Every yea you get your money back in the event that you made no claim for the 12 month period. Should this product get many of you signing up and we make a profit, Zimnat promises to share the profit coming out of this product.” Said Chimweta.
“On top of the safety, security and assurance of cover to the value that you subscribe for, each end of year you get to share profits plus your money back.” He continued.
He added that subscriptions are both in US dollars as well as the local unit.
He also said that the product will give full cover subscribed for as it was adjustable to the prevailing economic environment. He said that if the local currency’s value changes due to inflation, the subscriber is allowed to adjust their account accordingly so as to maintain value subscribed for.
He also promised that Zimnat, through the product, will give a 15% cashback on all unclaimed premiums, a figure which he said was equivalent to 3 months worth of subscriptions.
Asked by a journalist on the guarantee of the cover on the back of previous loses made my the public, Mu Chimweta said that Zimnat was over 100yrs old and wasn’t going anywhere.
He said this was a new product on the market and that it would benefit subscribers with the cash backs and inflation adjusted premiums.
He went further to say that Zimnat’s product would benefit the public unlike many other products on the moment which will have you pay all you life and then only benefit in the instance of your death.
”We treat our customers fairly and Zimat have come here today to secure families and everyone through a product that the value of cover you sign for remains the same. We promise you that every year unlike any other product in the market, you actually get your money back.” He said.
Chimweta urged people to sign up to their product as it is very beneficial.
“Zimnat promises you that every year unlike any other product in the market you actually get your money back at the end of that same 12 months .If we get all of you to come for the product we expect you to be a profitable product and that profit is not for Zimnat alone. Zimnat promises to share the products coming out of this products.”
He added that their product is different, secure and available in both Zimbabwean dollar and USD.
”Our customers are asking if this product is secure. It is very secure as symbolised by our safe that was guided by security officers thus how safe our customers will be and Zimnant is there to make your life better, people can pay in both Zim dollar and USD.” Mr Chimweta said.
Ms Tatenda Marongwe, Group Marketing Manager for Zimnat also graced the event whose Master of Ceremony was Maimba Mapuranga.
Zimnat Insurance is a diversified financial services group with an array of services including general insurance, life assurance, asset management and microfinance.