Ecocash seizes technology to spur insurance products growth – NewZimbabwe.com

By Alois Vinga

LISTED financial services provider, Ecocash Holdings Zimbabwe (EHZ) is hinging on technology to spur growth of its various insurance products which are swiftly tapping into the high risk market segments.

EHZ board chairperson, Sheree Shereni recently revealed that the company has continued to innovate the life insurance business by adding new value adding products to remain relevant in the market.

“During the year, we launched the ‘Dura Pension Scheme’, aimed at the informal sector to ensure broad-based inclusion of all workers in retirement planning.

“We also launched ‘Data Life Cover’, a new product that allows customers to get funeral cover as they purchase Econet data products. Bundled services with strategic partners will be key in driving growth in the future,” she said.

Moovah, the short-term insurance business, also embarked on a distribution network expansion project which to date has seen the business expanding to over 250 locations and further improved access and convenience for customers across the country.

Through the health insurance business, Maisha Health Fund, a micro insurance product, MaishaCare was recently launched, an affordable healthcare package for those that previously had no health cover.

The product is riding on digital rails to onboard customers, with no requirement to complete physical forms.

“Our digital platforms business, Vaya Technologies, continues to focus on and drive the anchor units in Healthtech, Agritech and On Demand Services.

“We continue to develop and refine our products in these sectors to fully harness and realize the potential we see in them. As we progress into the next year and beyond, we believe we will be able to increase contribution from these emergent businesses to the broader EcoCash Holdings Group performance, added Shereni.