ZISC targets the informal sector

BUUMBA CHIMBULU writes

THE Zambia State Insurance Cooperation (ZSIC) Life has operationalised its micro insurance coordinating office to focus on delivering insurance to the informal sector, says managing director Christabel Banda.

Ms Banda said the goal of ZSIC Life was to deliver its products to all Zambian households regardless of their location.
In a statement, Ms Banda said ZISC had accelerated the process of developing client centric products while partnering with key stakeholders such as the Zambia National Marketeers Credit Association.

“These initiatives are in line with the National Financial Inclusion Strategy (NFIS) framework drive focusing on the development of diverse, innovative and customer centric products,
“ZSIC Life has also continued to make its contribution in the attainment of the NFIS which has set out a target of increasing the financial inclusion to 80 percent from 59 percent in the informal sector,” Ms Banda said.

Ms Banda said the company had continued to leverage its widely spread branch network and agency workforce in reaching clients across Zambia.
“The company last year launched two new products namely the Chikwama Savings Plan and the Kwacha Plus Savings Plan as a response to the customer perception survey recommendations which was under taken in the prior year,
“We have ensured that all our business decisions are based on sound customer input. We have been leveraging various communication platforms to ensure that we are always kept abreast with the ever-changing customer needs,” she said