Africa-Press – Tanzania. FAIDIKA Microfinance has joined a Bancassurance bandwagon and opening a window to that will offer a holistic range of insurance covers.
The microfinance is the first in its category in the country to start offering insurance services after partnering with several insurance companies.
Faidika Chief Executive Officer, Baraka Munisi commented, said the launch of the new suite of insurance products aligns with their vision to become a leading world class financial services organisation.
“This Bancassurance offering forms part of our commitment to diversify our product offering, to deliver a unique customer value proposition and to, at the same time elevate the Faidika offering to generate increased value through diversified revenue streams,” Mr Munis said.
Faidika is a subsidiary of regional inclusive finance group, Letshego Holdings Limited—Letshego Group—and its new products will provide a holistic range of insurance covers in the market.
A key objective for the microfinance is to reach the general public through their extensive network of branches and satellite operations across the country in order to provide access, convenience and financial inclusion to Tanzanians, including people at the remotest areas of the country.
Faidika’s four key Bancassurance products were launched in partnership withSanlam Life, Alliance General, Britam General, Strategies General and Medical, First Assurance General, Jubilee Life and Jubilee General.
Faidika offers life insurance, health insurance and general insurance products, including assurance cover for assets—all risks, industrial – all risks, fire and allied perils, motor, accident, home insurance, burglary and theft, professional indemnity, goods in transit and marine and cargo insurance cover, among others.
Additionally, Faidika will also be offering customers its insurance premium financing, to enable their smooth on boarding and easy access to acquire the insurance products.
Faidika Chairman Adam Mayingu said: “we understand that our prompt responsiveness to customer’ needs generates trust, improves customer relationships and enhances customer experience, all leading to happy and satisfied customers.”
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