The internet is what the doctor ordered for Zimbabwe’s insurance companies

The biggest frustration I have with local insurance companies is lack of differentiation. Whether we are talking about short term insurance, life assurance, medical cover or funeral cover there is not much differentiation. This is best demonstrated by how much people move from one insurance company to the next and then the next term to term for their vehicle cover. Why? The only difference currently is where you buy the service so people will go to the insurance ‘shop’ closest to them at that time. This is terrible for the insurance companies themselves. To use telecommunications terminology: there is too much churn in the Zimbabwean insurance market