Stanbic urges uptake of insurance products

Published: 04 October 2017

STANBIC Bank has called for greater uptake of insurance products in the country.

The financial institution has since ventured into the insurance business noting that only a handful of Zimbabweans possess knowledge on the benefits of insuring assets such as houses and household goods.

Stanbic Bank acting head of personal and business banking, Mr Patson Mahachi, said the insurance business has given the institution more insight into the needs of its customers particularly the importance of insuring various assets.

Mr Mahachi said motor vehicle insurance was the most common type of insurance seeing as it is mandatory for motorists to insure their vehicles before they can get their vehicles licensed and authorised to be on the road.

He said that there were other insurance products such as house owners insurance, which cover the physical structures and fixtures of the home against fire, lightning, explosion, storm impact and malicious damage, theft of fixtures and fittings and breakage of fixed glass.

"The main idea of insurance is to ensure that when unfortunate incidents occur, we are not caught flat-footed. Individuals and businesses alike need to be able to have a contingency plan in the event of unanticipated occurrences," said Mr Mahachi.

"We are prepared to offer insurance seekers the same level of service we offer to our banking customers when it comes to acquiring insurance cover, and they can count on the bank's due diligence in choosing a reliable insurance partner. Business entities also stand to benefit from our menu of business insurance cover options, which include assets, money, liability and employees amongst other options."
- the herald

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