Malawi: NICO Urged to Extended Insurance Services to Rural Masses

Aug 16, 2017 | Malawi News Agency; All Africa

Chief Executive Officer (CEO) for CDH Investment Bank, Misheck Esau has called on NICO General Insurance to extend insurance service to rural communities.

He made the call Saturday after emerging a winner in a Golf competition organized by NICO at Nchalo in Chikwawa. Esau expressed his worry to note that insurance services are concentrated in urban areas. He said something more needs to be done to improve accessibility of insurance servicers by people in rural areas. "Insurance is one of the crucial sectors that play a critical role in boosting the economy of the country," he said, while urging NICO to come up with innovative products targeting people in rural areas. The CEO added that as a market leader in insurance services, NICO has the capacity to reach out to remote areas with its services. "We have to take insurance services to the people. Many Malawians do not insure their lives and property. Let us help them to do so," he added. NICO General CEO Don Bell Mandala said his company is in the process of improving distribution channels to the lowest end of the market. He said this is going to be achieved through the establishment of mobile facilities including phones and internet to make sure rural communities benefit from their services. Read more on All Africa. Source: All Africa