Botswana Life segments market

BG reporter
Friday, 21 October 2016
Botswana Life segments market

Botswana Life, a stalwart in the life business this Tuesday launched its affluent service centre which, according its Chief Executive, ‘opens up a world of investment, growth and security’ to its multitudes of existing and potential clients.

The affluent service centre, which is located at Central Business District, is the first of its kind in the country and provides high-end customer service, including personal visits, to qualifying clients. Speaking at the official launch of the centre, Botswana Life boss, Bilkiss Moorad said exclusiveness in the local insurance industry is new in Botswana, but is fast gaining traction globally. As a leading company, it is not surprising that the company is launching such service platform, she stressed.

“While exclusive and new to our industry, affluent service is slowly becoming a global proposition and gaining traction,” said Moorad at a gathering which included Permanent Secretary to the President, Carter Morupisi. Botswana Life, a company which is owned by Botswana Insurance Holdings Limited is content that it is the first to launch an affluent service centre, a development which further puts them ahead of peers.“We realise Africa is poised to be the next frontier for this kind of service. We have taken the lead as Botswana Life to introduce this model to our local insurance market,” said Moorad who took the leadership from Catherine Lesetedi-Letegele early this year.

Botswana Life, which controls over 70 percent of the life business, constantly thrives to innovate and match ‘our offerings to our customer goals’. Moorad explained the affluent service centre comes hot on the heels of three life products that her company launched. The products are Tapologo retirement annuity, Isago savings plan and Poelo term assurance.

“The launch of these products, and tonight’s launch of our Affluent Service Centre is a clear testimony that Botswana Life has some exciting times ahead,” said Moorad. Speaking at the same event, Morupisi, who is also Botswana’s cabinet secretary commended Botswana Life for coming with such a centre. “In today’s highly competitive industry, participating entities have to always endeavour to provide service that sets them apart from the rest,” said Morupisi. What is setting Botswana Life apart from the rest is that the affluent centre is the first of its kind in Botswana.

Morupisi reminded the company of the importance of quality customer care, which is often found lacking, both in the private and public space. Head of affluence centre, Colleta Simbanegavi told attendants that market segmentation allows the company to know better clients’ tastes, expectations and preferences.

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