HERITAGE insurance group has marked its 75th anniversary making it one of the oldest insurance companies in Zimbabwe.
Kudzai Kuwaza (KK) spoke to Heritage business development manager Moreblessing Chitiyo (MC) to find out the company’s achievements, challenges and its vision for the future.
KK: Heritage Insurance has turned 75. What does this mean to you as a company?
MC: This means the beginning of a new journey. The business environment has evolved over the years and it follows that the company is aligning itself to the changes. This is also a time to turn back and look at what brought us this far and build on those factors to ensure we continue doing business in future.
KK: What have been the major achievements of the company?
MC: Our continued dedication and service to the economy through providing insurable risk management solutions have ensured business continuity for our clients. We remain dedicated in this field of insurance and risk management and trust that in the New Year we will be able to review some of our products in order to meet changing needs of the market.
KK: What have been the major challenges during this period?
MC: Changes in climate thus affecting risk profiles and the hyper-inflation period that destroyed confidence in insurance as well as some of the depressed sectors of the economy.
KK: Insurance companies have since the introduction of the multi-currency regime struggled to regain the confidence of clients whose policies were rendered worthless after the switch to multi-currency in 2009. How have you managed to regain the confidence of your clients?
MC: Through delivering on our promise. We have ensured that for every client who holds a valid policy, should any insured mishap occur, we meet our obligation of settling claims timeously. We have also used our success stories with various clients as a point of reference with prospective clients.
KK: There has been an increase in bogus insurance agents. What in your view should be done to protect the public from these?
MC: The public is encouraged to seek evidence of registration and secondly, check with the insurer on whose behalf that agent would have claimed to be doing business.
KK: Looking ahead, what plans do you have to ensure Heritage Insurance maintains and increases its market share?
MC: Our focus will be on service and innovative insurance and risk management solutions.