The first regional workshop and field trip by the Microinsurance Network, focussing on optimisation of distribution in the low-cost insurance environment, came to a close in Johannesburg, South Africa.
The workshop brought together over fifty experts and professionals operating in the region’s microinsurance space to look at the challenges the sector is facing in terms of distribution, some of the existing success models and solutions, and how these may be replicated elsewhere.
Participants were able to see what a partnership model can look like in practice through a field trip to one of Hollard Insurance’s branches in the Soweto area. The visit illustrated how insurance companies can capitalise on marketing through a brand trusted by the low-income segment, such as the PEP stores in South Africa. The visit also highlighted some of Hollard’s innovative approaches with regards to product design and consumer education.
“Be present in the society and employ people who come from the places where you aim to sell the product”, commented Barbara Chesire-Chabbaga from AB Consultants in Kenya after the field trip. “My observation with Hollard is that it’s very relational”, she added.
Source: Microinsurance Network
Event Coverage: Microinsurance Network