Africa goes online: Insurance for the Diaspora
Africa moves towards Online services in the Insurance Industry More than 3 million Zimbabweans are said to be living in the Diaspora, accumulating assets locally and supporting their families still in the country. Establishing a platform for the provision of online insurance services within Zimbabwe, has opened up new avenues for Insurance Brokers to serve an internationally dispersed population. Inflation in Zimbabwe is approximately 231 million percent. This means that if you insure in the local currency, make a claim, and are then paid out that local currency, you will be unable to repair or replace these goods: until now. The internet has opened up opportunities for those in the African Diaspora to buy inflation proof products. People have started businesses , bought homes and vehicles : This insurance is pegged in Forex, and where applicable is paid out in Forex. It allow clients to replace or repair assets, or those of their loved ones in Zimbabwe . A locally registered and accredited Insurance Service partners, with an offices around the country manages and maintains client relationships. In particular services offered are: • Insurance cover in foreign currency • Identify the best product provider with tried and tested reliability • Frame, design and negotiate the best terms of cover and rates within Zimbabwe • Local valuations for insurance purposes • Site visits or other appraisals • Claims recoveries (own Insurers or Third Party) • Loss adjustments • Risk management A full list of insurances offered include • Commercial Vehicle (trucks) • Buses & Kombi’s • Private Dwellings (Including under construction) • House Contents • General Stores/Farms • Business Risks/Assets/Liabilities • Key persons (24 hour Accident) • Employers & Public Liability • Hotels & Safari Operators • Personal All Risks (Valuables, laptops, cameras/TV’s, Decoders, etc.) • Cargo/Transit (i.e. imported cars via Durban) • Marine Boats (Houseboats, Sports Fishing & Charter) • Aviation (Private & Charter) Other Services: • Claims collections & negotiations on behalf of clients • Recoveries of shortfalls incurred from negligent uninsured third parties (where practical) • Valuations for insurance purposes • Risk Surveys & Loss Control • Insurance Loss Adjustment Premiums are paid externally to the insurance companies, insurance coverage is internal, and claims paid out in forex ensure that goods are replaceable.
About the Author
Jacqui Terry is the marketing officer for Ziminsure, A Zimbabwean Insurance marketing operation. www.ziminsure.com
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