Vanguard Life Assurance focuses on increasing service penetration to create a thriving insurance market
Vanguard Life Assurance Limited is focusing to increase its penetration into the insurance market through innovative products catered across the board.
This was said by Head of Business Development, Steven Kanyoza when Vanguard Life Assurance presented a K3 million cheque to Insurance Institute of Malawi (IIM) as support towards the Institute’s Charter Dinner to be held this evening at Sunbird Mount Soche Hotel.
The cheque handover was done at Trade Fair Grounds in Blantyre on the sidelines of its display of services at the 34th Malawi International Trade Fair and Kanyoza pledged that Vanguard Life Assurance is set to shake the insurance market by doing its business differently.
“There is low appreciation of the benefits of life insurance in the country and as Vanguard, we are providing innovative services that caters for everyone across the board,” he said.
“We decided to support IIM because we value its services through the training of insurance professionals who add value to our innovative business — as you may be aware that the annual Charter Dinner is a graduation ceremony of who have undergone training through the Institute.
“We respect the role of IIM in our specialised industry in which they train for us professionals of high integrity who bring in innovative solutions to the way we do business,” Kanyoza said.
The IIM is the arm of the insurance industry in Malawi that deals with education and training and its main objective is to promote professionalism in the insurance industry.
On his part, IIM president, Hastings Kapesa — who is Claims Manager for Reunion Insurance Company — said they were appreciative of the support from Vanguard, saying it will go a long way in hosting the Charter Dinner; whose guest of honour is Minister of Finance & Economic Affairs, Simpkex Chithyola Banda.
“On top of the K3 million that is towards logistics expenses, Vanguard Life Assurance have also paid over K1.9 million towards participation of its staff and guests at the Charter Dinner, which is a support we greatly appreciate,” he said.
To be held under the theme; ‘Building resilience through insurance in times of economic turbulence’, Kapesa underscored the need for qualified human capital as it is in line with the MW2063 national vision — under the Pillar Human Capital Development.
He emphasised that through the trainings IIM has promoted insurance employees into professionals with high integrity, who add high standards — describing it as key to business success.
He added that such high standards professionals add value to customers’ needs, saying: “Our industry needs a human that is highly qualified, thus even the Minister values the importance of the Charter Dinner and accepted our invitations or his attendance as guest of honour.”
The Charter Dinner awards insurance professionals who have completed their levels of studies. The Institute started operating in 1978 — administering examinations on behalf of the Chartered Insurance Institute of London and the Insurance Institute of South Africa.
The Institute has seen so many people working in the Malawi Insurance Industry qualifying as Associates and Fellows, said indicated on its website.
For Vanguard Life Assurance, it offers what the company touts as the best deals for corporate and personal insurance and a host of other plans.
“We remain attentive to our client’s needs, thanks to our extensive, continuous research and customer feedback,” says the company on its website.
“As part of your Vanguard Super SaveSmart account you can access simple, smart and flexible insurance cover — because if your circumstances change, you need to know your insurance cover can change with you.
“Our line of business is the provision of financial security through life assurance and long-term investment solutions through Pension and other related financial services.”
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