Ecosure, a micro-insurance brand from Cassava Smartech, has unveiled a new package called EcoSure Pamwepo/Sisonke in an effort to ensure that churches and other social groups have access to affordable insurance cover.
This comes as Zimbabwe’s hyperinflationary environment has significantly wiped out people’s disposable incomes as prices of goods and services continue to rise on a monthly basis, thus putting insurance beyond the reach of many. The country’s annual inflation stood at 840 per cent in July, according to Zimstat.
Cassava Smartech Chief Executive Officer Eddie Chibi said his company launched the new package to ensure that most people in the country have funeral insurance cover, despite the harsh economic environment. He said:
We continue to look for opportunities to use technology to solve the challenges that our community face.
This is why we are launching this package that church members and other social group members will access via a shortcode on *900# using any type of phone.
The EcoSure Pamwepo/Sisonke package is expected to help churches and other social groups ease the burden when a fellow group or church member passes on with packages from as low as ZWL$50 per person per month with benefits of up to ZWL$500,000.
EcoSure has so far partnered with Anglican, Roman Catholic, Apostolic Faith Mission (AFM), Zion Christian Church (ZCC), Salvation Army, United Family International Church (UFIC), Prophetic, Healing and Deliverance
(PHD) Ministries and ZAOGA, and has plans to partner with more churches.
A church member can easily register by simply dialling *900#, selecting EcoSure Funeral, EcoSure Pamwepo and then choose their church and the province or diocese they worship from. Econet Life Chief Life and Principal Officer Godwin Mashiri said:
Churches and other social groups now have an option for their members to get affordable funeral cover so that when the unfortunate happens, they get a decent and dignified send-off with no burden on their church/group.
As part of the EcoSure Pamwepo/Sisonke launch promotion, proceeds from the first premium collected will be ploughed back into the churches, for them to do their projects and also ease the financial burden during the lockdown.
EcoSure offers affordable and reliable funeral cover, through the mobile phone as well as Burial Society Groups, to more than 1.2 million people and offers packages from as low as ZWL$50 per person per month with payouts as high as ZWL$500,000.