Zimnat dresses up construction men
Zimnat dresses up construction men. In a move that has won the hearts of Zimbabweans, the Zimnat Group, a leading financial services group has launched a heart-warming winter campaign to raise awareness of the importance of financial planning and ensuring one is always adequately covered regardless of age, gender or social standing.
The campaign, launched on one of the coldest days of the 2023 winter season, involved “covering” the iconic statues of “working men” at the Construction House in Harare. The statues were “covered” in Zimnat-branded jackets. Some influencers took to their social media platforms, a picture of the covered statues and Zimnat responded with an underlying message that read “Even the strongest men need cover.”
The campaign’s key message is that everyone needs financial protection, even those who seem to be the most resilient. Many people find themselves under financial strain at some point, hence Zimnat is urging everyone to take steps to protect themselves from the financial hardship phases of life.
“We want to remind everyone that winter is not just about the cold weather,” said Zimnat Marketing Executive, Tatenda Marongwe “It’s a denotation of how seasons vary in people’s lives, including the rise of unexpected financial pressures at some point due to various kind of losses for we are exposed to varying risks. That is why it’s so important to have financial protection in place.”
The Zimnat winter campaign has been met with widespread support from Zimbabweans. Many people have taken to social media praise the company for its thoughtfulness and compassion in giving such a reminder in a creative way.
“This is such a relevant and important message,” said one Twitter user. “It’s so easy to forget that even I can be vulnerable to financial hardship. This is a real inspiration.”
The Zimnat Group winter campaign is a reminder that everyone needs financial protection, no matter how “financially” strong they may seem. By taking steps to protect yourself from varying risks, you can help to ensure that you are prepared for whatever winter may bring.
Zimnat honours sales agents for business success
Zimnat hosted its 2022 edition of the Annual Agents Awards ceremony at an upmarket venue in Harare on Friday 31st of March 2023. The event was to showcase the Zimnat Group’s commitment to recognize, celebrate, and honour the success achieved by agents in its endeavour to make life better. In attendance, were Zimnat sales agents from around Zimbabwe as well as the Group’s executives, management, and representatives from various distribution partners.
Top-performing agents in each of the Group's three business areas, Zimnat General Insurance, Zimnat Life Assurance, and Zimnat Financial Services were recognized for their immense contribution to revenue in the year 2022, which has continued to grow over the years.
The Group CEO, Tinashe Muyambo, in his speech, emphasized that the award-winners’ contributions are nothing less than a mark of passion, perseverance, and dedication. “We are proud to have such a loyal and committed team representing our organization and we value your hard work, extensive knowledge, and invaluable experience,” he remarked. He further hailed the agents for their efforts in assisting the growth of the business: “Your presence this evening is therefore, a true testament that with determination, endurance, discipline, and the right attitude, you can overcome any and all hurdles that may come your way. Zimnat is looking forward to continuing to Making Life Better by bringing innovative and convenient products to every Zimbabwean”.
Global Credit Rating Agency reaffirms Zimnat’s financial stability
The Global Credit Rating (GCR) has reaffirmed the credit rating for the Zimnat Group’s short-term and life insurance divisions.
The group’s short-term insurance division, Zimnat General Insurance, was accorded an AA+ rating for the 3rd year running. This indicated the insurer's financial stability, and its ability to meet its financial obligations had been deemed "very strong" by the GCR. In addition to Zimnat General Insurance's rating, Zimnat Life Assurance has also received an A- rating from the GCR. The life insurer's financial stability and ability to meet its financial obligations have been deemed "strong".
The re-affirmation of Zimnat's credit ratings is a testament to the company's strong financial performance and commitment to delivering top-notch insurance services to its customers. The AA+ rating for Zimnat General Insurance reflects its strong financial performance and ability to meet its financial obligations in a timely and efficient manner.
The A- rating for Zimnat Life Assurance demonstrates its solid financial performance and ability to meet its financial obligations, but with a slightly lower capacity than Zimnat General Insurance.
The Zimnat Group CEO, Mr. Tinashe Muyambo, had this to say about the re-affirmation of the company's credit ratings: "We are proud to have our financial stability and commitment to excellence recognized by the Global Credit Rating. This re-affirmation of our credit ratings is a testament to the hard work and dedication of our employees, who are committed to making life better for all our stakeholders.”
“This re-affirmation is a positive sign for the company and our customers. It demonstrates our financial stability and ability to meet its financial obligations in a timely and efficient manner,” added Mr Muyambo.
More operational flexibility comes with such a good rating positioning Zimnat as a strong insurer supported by the quest to provide the market with realistic insurance cover products that help clients achieve their set objectives and make their lives better.
Zimnat is a diversified financial group made up of four business units, namely Zimnat General Insurance, Zimnat Life Assurance, Zimnat Financial Services, and Zimnat Asset Management. The group is also associated with the Sanlam group, the largest non-banking financial services group on the continent.- The Herald
Zimnat partners National Foods to launch Stockfeed Funeral Cover
Zimnat Life Assurance in partnership with National Foods Stockfeed and Gain Cash and Carry has introduced another exciting innovation that is destined to change the manufacturing, retail, and life assurance industry landscape.
The leading Life assurance company, which is a subsidiary of the Zimnat group has partnered with National Foods Stockfeed and leading wholesaler and retailer Gain Cash and Carry to distribute embedded micro-insurance products to chicken farmers which they have aptly named Stockfeed Funeral Cover.
Commenting on the launch of this innovation, Zimnat Life Assurance Managing Director said, “ We are excited to be part of an innovation that will impact the lives of many farmers and households in Zimbabwe. At Zimnat our innovation processes are purely driven by the desire to Make Lives Better and offer solutions to the challenges we have. Our desire is to offer financial security to farmers and in developing this exceptional product I hope we have done our part in improving the livelihoods of many.”
The Stockfeed Funeral Cover is a free optional micro-funeral embedded product that extends a monthly renewable funeral cover benefit to a poultry farmer that buys their National Foods Stockfeed from Gain Cash and Carry stores.
Each 50kg bag of broiler or layer feed purchased provides a customer with a US$100 cover and a client may benefit from up to USD$ 2000 cover. The cover is valid for one month and has no waiting period.
Upon the death of an insured poultry farmer, the nominated policy beneficiaries can claim the funeral cash pay-out from Zimnat Life Assurance through either one of the following channels: Toll-free number 321, visiting your nearest Zimnat brand, visiting your nearest Gain Cash and Carry outlet and WhatsApp
The Zimnat Group continues to release innovative products into the financial services sector with the aim of making lives better for its customers. Zimnat Life Assurance is a member of the Zimnat group comprised of Zimnat General Insurance, Zimnat Asset Management, and Zimnat Microfinance.
The group is associated with Sanlam, the largest non-banking financial institution on the continent.
Sanlam Private Wealth and Zimnat Asset Management Launch Zimnat Wealth International
Zimnat Asset Management has partnered with Sanlam Private Wealth to provide offshore investment capability This opportunity is not limited to individual investors only but also to Pension Funds and Corporates.
Zimnat Asset Management’s unique collaboration with Sanlam Private Wealth seeks to introduce global investment products and solutions to Zimbabwean investors with a view to earning attractive, sustainable, and safe returns on their investments over the long term.
This association enables investors to have access to a platform of leading globally accredited investment funds that cover a diverse range of asset classes. These include 5 Star Morningstar rated Mutual Funds, Exchange Traded Funds, Hedge Funds, Fixed Income Securities, and Capital Guaranteed Structured Products. Sanlam Private Wealth prides itself on its expertise in creating an individually customized investment portfolio that takes into account the purpose and risk appetite of each client
Commenting on the side-lines of the launch event, Sanlam Private Wealth Managing Director Mr. Mark Muller said, “We are excited to be expanding our relationship with the Zimnat Group, this partnership will open global opportunities for clients who have been yearning to explore investing on the global market.”
Sanlam Private Wealth is a member of the Sanlam Group, a leading global financial services business that has been advising investors globally since 1918. The Group provides comprehensive and tailored financial solutions to individual and institutional clients. The group’s ultimate holding company is listed on the Johannesburg Stock Exchange as well as the Namibian Stock Exchange, with a USD10 billion market cap and USD104 billion asset under management.
The minimum investment amount is USD50k.
Speaking at the launch event held at The Venue Avondale, Zimnat Investments Cluster CEO, Mrs. Elizabeth Rabvukwa, said, “This is a great opportunity for Zimbabwean investors who have free funds and are willing to explore investing in global markets. The relationship between Zimnat Asset Management and Sanlam Private Wealth will provide a secure and safe gateway to invest in offshore markets as Sanlam has been in existence for more than 100 years and Zimnat has also been in existence for more than 75 years”
The Zimnat Group has four main business units, namely general insurance, life assurance, asset management, and microfinance. The group is driven by its mission to make life better. It is associated with the Sanlam Group, the largest non-banking financial institution on the continent.
Zimnat honours its salesforce in ritzy style
Zimnat, a leading financial services group has once again painted the city green with the return of its glitzy Annual Agents Awards ceremony. The latest edition was held at the prestigious Cresta Lodge in Harare on Friday the 18th of March 2022. The glamorous event is hosted annually to recognize and celebrate high-performing sales agents in the group, in line with the Zimnat culture of celebrating success and high performers. The event was attended by sales agents from all over Zimbabwe as well as executives from the group and some of its banking partners.
In his welcome remarks, Mustafa Sachak, Zimnat group chief executive officer said it is the company’s culture to always recognize hard work and celebrate it. The annual agents' awards ceremony is the pinnacle of this recognition program.
“Whilst the COVID-19 pandemic negatively impacted us from an economic and social perspective, it also helped expedite our digitalization agenda to continue delivering on our promise to our customers. This resolve to make life better extends to how our agent salesforce evolved in a way that has seen us bouncing back with better results in the 2021 financial year. Today we honour those agents that were exceptional within our high-performing salesforce. One of our biggest drivers is exceptional customer service and these people getting awards today have displayed a commitment to both hard work and exceptional service delivery.
“By celebrating and encouraging our sales agents and staff we want them to be motivated to provide exceptional service to our clients. We want to empower the company and clients to reach their full potential,” Mr Sachak said.
The awards ceremony which was dominated by female agents could not have come at a better time than in the month in which the world is celebrating women. A woman of note was Sheron Mange a life insurance sales agent who was recognized as the top-performing sales agent. She broke the bias by growing her portfolio by ten times from its 2020 record.
Not to be outdone were sales agents in the general insurance and microfinance space, Gardiner Maponga and Godfrey Huseni. Gardiner Maponga has been with the group selling insurance for more than 2 decades and is growing his portfolio consistently same with Godfrey.
Zimnat is a diversified financial services group that offers products across the financial and insurance spectrum. It has four business units namely Zimnat General Insurance, Zimnat Life Assurance, Zimnat Financial Services, Zimnat Asset Management, and is associated with the Sanlam Group.
Zimnat scoops lion share of awards
In a year in which it celebrated its 75th anniversary, Zimnat a leading player in the insurance and wealth management industry made headlines at the 2021 Marketers’ Association of Zimbabwe Exceptional Marketing Awards ceremony in Kariba where it scooped 6 awards.
The awards ceremony is held annually in recognition and celebration of excellence for organizations and individuals who have pushed their brands and led successful marketing campaigns during the year.
Zimnat was nominated for 11 of the award categories and resultantly won awards in five categories.
The Best Outdoor Media Prize went to Zimnat for its Samora Machel Parkade Car Crash Billboard, where a car appears to have crashed out of the parkade building.
After running a successful digital promotion campaign that was Zimbabwe’s first WhatsApp Drama, Zimnat was also recognized as the 1st runner-up award for the Best National Promotional Campaign of the year award.
Having run one of the most iconic digital campaigns that “broke the internet” to launch its new Assessment Centre that broke the internet in September with the infamous “Mark X” accident simulation along with King, Zimnat was awarded the best National Social Media and Digital Marketing Campaign of the Year Award.
Zimnat was also recognized as the 1st runner-up award for the Best National Promotional Campaign of the year award, after running a successful digital promotion campaign that was Zimbabwe’s first WhatsApp Drama.
The group also scooped some individual awards with its Group Marketing Executive, Tatenda Marongwe, winning the Top Marketer of the Year Award, while its Group Digital Marketing Officer Gamuchirai Sibanda was the 2nd Runner-up for the Brand Manager of the Year Award.
The Zimnat Group CEO Mustafa Sachak was also recognized as the 2nd Runner-up for the Marketing Oriented CEO of the Year Award.
Speaking soon after the awards ceremony, Mrs. Marongwe said her team was thrilled and felt honored to receive such recognition from the industry.
“It is indeed a humbling feeling to see that our efforts are being noticed and reinforcing our presence in the market particularly in this special year where we celebrate our Platinum Jubilee. We have reiterated throughout the year we can promise more exciting programs that are meant to make life better for all our stakeholders for the next 75 years to come,” she said.
Commenting on the awards the Zimnat Group CEO Mustafa Sachak said, “ We are delighted to be receiving these 6 awards which was the highest tally for any organization this year. It is such a great feeling to see our concerted marketing efforts over the past 75 years to empower our customers yielding such results in a year that we are celebrating 75 years of making life better. ”
This is not the first time that the financial services giant has scooped awards at the Exceptional Marketing Awards as they received 4 awards at the same awards last year, and eight awards at the 2019 edition of the awards.
The Zimnat Group has four main business units, namely general insurance, life assurance, asset management, and microfinance. The group is driven by a determination to make life better. It is associated with the Sanlam Group, the largest non-banking financial institution on the continent.
Zimnat scoops top 2021 Global Banking and Finance Award
Zimnat, a leading player in the insurance and wealth management industry for more than seven decades, has been awarded the Best Insurance Brand in Zimbabwe in the 2021 Global Banking and Finance Review awards.
The annual business awards which are hosted by the Global Banking and Finance Review magazine are designed to recognize the innovation, achievement, strategy, and inspirational changes taking place within the Global Financial community.
This award comes as a validation of some remarkable innovations and campaigns that have been coming from the financial services giant. In a year in which most organizations particularly insurance services have been struggling to stay afloat, Zimnat has landed first to market and exciting innovations.
Recognizing the growing importance of WhatsApp based e-commerce in the era of COVID-19, Zimnat launched Zimbabwe’s first WhatsApp based motor insurance renewal platform. The insurance giant further went on to launch another first for Zimbabwe with the introduction of Jabu’s Homecoming, Zimbabwe’s first WhatsApp drama which showcased the real life drama involved in planning for a funeral of a loved one who passes away in the diaspora.
In March 2021, Zimnat made headlines again as it launched innovative life insurance cover options branded the Zimnat LifeCare and Security Plans which allow policyholders to take part in profit sharing realized from their covers. Zimnat launched the products in a very radical manner which involved a mysterious white object placed at Joina City under heavily armed guard. The organization also unveiled decoder insurance, in partnership with DSTV, following the recognition of the role that TV and home entertainment now play in the life of human beings considering the COVID-19 induced lockdown.
Commenting on the award the Zimnat group chief executive officer, Mustafa Sachak, said, “We are excited to have been honoured with this prestigious award. As an organization, we have dedicated the 2021 financial year to ensuring that our customers get to reimagine a better life in an era where COVID-19 has changed the way businesses operate.”
“The new world order calls on us all to think of new ways of making life better for clients and partners by embracing the new norms brought about by COVID-19 that require us to place an emphasis on technology and experiential marketing.
You will realize that all we have done this year speaks to that theme of a better life reimagined as witnessed by the WhatsApp renewal platform, LifeCare plans and Jabu’s Homecoming WhatsApp drama. Our goal is to challenge our customers to reimagine how their lives can get even better when they associate with us. We are happy this award recognizes our efforts so far’ said Mr Sachak.
The award comes at the back of 2 more awards for Best Financial Services Group Zimbabwe 2021” and “Most Innovative Financial Services Company Zimbabwe 2021 by the International Business Magazine.
The Zimnat Group has four main business units, namely general insurance, life assurance, asset management and microfinance. The group is driven by a determination to make life better. It is associated with the Sanlam Group, the largest non-banking financial institution on the continent.
The difference between Life Insurance and Funeral Insurance
By
Joshua Mhlanga
Life insurance
This is a contract offered to an individual seeking to cover themselves or their loved ones against the financial consequences that ensue in the event of the death of the insured individual. The insurer makes a commitment to pay out a lump sum amount as a benefit known as the sum assured to a policyholder’s chosen beneficiaries. Although usually offered to a single life, some may be priced such that the policyholder’s spouse is also covered under the same policy, which is called a “joint” whole life contract.
Funeral Insurance
This contract is taken up solely for the purpose of reducing the financial strains that come with processes involved in making sure that a loved one is given a decent burial. The selected beneficiaries of the covered live(s) are entitled to lump sum pay outs and/or services upon death.
What makes them look Similar?
Benefits payable – Both contracts pay out a lump sum amount upon death of the covered life. The contracts may also be priced in such a way that the policyholder participates in the product’s profit contribution to the insurance company. The profit will be mentioned in the terms and condition as it may be investment, underwriting or a combination of the two.
Zimnat Life Assurance recently launched two products in March 2021, “LifeCare Plan” and “Security Plan”. These products offer policyholders an opportunity to participate in sharing profits realised from the sale of the policies. These contracts are designed in such a way that the insurer promises to give “rewards” if the pool of funds in which premiums are invested in performs, these rewards may be in the form of a lump sum pay-out, premium waiver or an escalation on the sum assured depending on the design of the product.
Eligibility – Almost all insurance contracts can be offered to anyone between 18 and 65 years.
Premium frequency - The insurance benefit is offered in exchange for a premium , the rate at which premiums are paid may also vary from monthly, quarterly and bi-annually.
Premium payment period - Depending on the contract, the contributions towards cover may be paid for a set period, this type of contract is called Whole life with Limited Premium Paying Term, while some may require one to pay in perpetuity until death.
So how are they different?
Usage of pay out – Life insurance cover proceeds may be used to meet inheritance tax liability when winding up the estate of the deceased or to pay off any loans or mortgages that the insured had. It may also be used to purchase an annuity that will be used to pay schools fees amongst other uses.
For a funeral contract, a lump sum is usually paid immediately (within 24 hours of notification) on death to cover all the necessary funeral logistics. So in essence the life insurance contract is taken by the insured so that (s)he safeguards the well-being of those that (s)he leaves behind, while the funeral contract is taken by the insured to make sure that those left behind do not have to worry about financing a proper send off for their loved one.
Magnitude of Sum Assured – a life insurance contract has a significantly higher sum assured value while a funeral insurance contract usually has a lower sum assured. This is mainly so because of the differences in purpose of the covers discussed above.
Underwriting – due to the differences in the sum assured each insurance type is subject to different levels of underwriting conditions. Since the life insurance contact offers a high sum assured the lives to be covered may be subject to medical inspection. Whereas the most common underwriting factor considered for a funeral insurance contract is age.
Benefit Options - Not only does the funeral insurance contract offer monetary benefits, the cover may also render services which include provision of body removal, funeral rites, transport and catering needed on the day of the funeral. In addition, the contract may further give a tombstone and unveiling service benefits. Zimnat offers such services through FSG Zimbabwe.
Lives covered per policy - With a funeral insurance contact one may also choose to cover more lives apart from theirs, these are called co-lives, the addition of these lives has a bearing on the premiums
In conclusion, when the purpose of something is unknown, abuse, overuse or no use at all is inevitable. My hope is next time you want to choose insurance for yourself and/or family, you will be well equipped by the information that has been availed, so that you make the best decision.
Zimnat General Insurance Partners MultiChoice Zimbabwe
Zimnat General Insurance has introduced another first, a new and exciting decoder insurance cover product.
The short term insurance service provider has partnered with entertainment service provider Skynet Pvt t/a MultiChoice Zimbabwe to come up with a decoder insurance cover that will make life better for customers and expand the company’s product offering to MultiChoice subscribers across Zimbabwe. The offer covers decoders against theft or damage that may arise from electrical or mechanical faults.
Commenting on the launch of the product the Zimnat General Insurance CEO Stanley Mazorodze said, “We are excited to offer another product which is a first of its kind to our clients in Zimbabwe. Over the past 10 months most of us have spent more time indoors entertaining ourselves and staying up to date with global news via our television sets, in a new world where staying at home is the best solution to protect your loved ones. This product will ensure that our customers remain entertained and informed of what is going on around them without being disturbed by things like fire induced damage to their decoders .
This innovative offering will cover physical loss or damage that may arise because of:
- Mechanical or electrical faults that occur after the warranty period,
- Damage resulting from attempted theft, fire, lightning, flood, or explosion or
- Total loss resulting from theft, fire, lightning, flood, or explosion.
To sign up for the Decoder Insurance product clients may visit Multichoice branches nationwide or they May just simply send “Hi” to 08080063 and we will call back.
This offering is very affordable and will see Zimnat and DStv clients accessing decoder insurance for as little as USD1/ month, with premiums payable monthly, quarterly or annually. Some of the available packages include;
| Decoder | Sum Insured | Annual Premium | Monthly Premium |
| Explora | USD 140.00 | USD 18.00 | USD 1.50 |
| HD PVR 2 Tuner | USD 55.00 | USD 12.00 | USD 1.00 |
| Single view decoder (DSD1110, DSD1131, DSD1132) | USD 55.00 | USD 12.00 | USD 1.00 |
The introduction of the new decoder insurance cover comes after the Zimnat group recently launched a number of novel products that aimed to make life better for all its customers which include a WhatsApp based motor insurance renewal platform as well as the LifeCare and Security plans which were all first of their kinds in the Zimbabwean market.