No market however simple can exist without trust, for insurance the stakes are even higher. Insurance plays a vital role in society protecting people and business against the risk they may face. It is also seen as an intangible promise to do something at a given point in time, or protection against the aftermath of an event which may occur. To trust that this promise or commitment will be honoured is super essential for market engagement and growth.
The May 2019 edition of the African Insurance Bulletin highlighted a survey which purported some elements of trust in insurance as follows;
- Protection: looking after what matters most to me
- Confidence: knowing my insurer will look after me
- Ease: it’s easy to get the protection I need
- Price: I get the best value for my situation
- Relationship: my insurer cares for me not my policy
- Loyalty: loyalty recognised in my terms, not in theirs
- Control: I have a meaningful say chain settlement
- Speed: getting me back on my feet quickly
- Respect: trust me and treat me in a human way
We express gratitude to some of our women who strive to build trust in the brand and in the market. When we insure, we assume.