Nyaradzo Funeral Assurance Company has said it is targeting to set up operations in the United Kingdom by year end having, successfully expanded into South Africa as part of the group’s regional and global expansion drive.
SOURCE: FINANCIAL EXPRESS
The United Kingdom is the second biggest destination for Zimbabwean migrants, after South Africa.
At the launch of the Sahwira International Plan (SIP), Nyaradzo chief executive officer Philip Mataranyika said the group’s expansion drive is now beginning to bear fruit with Zimbabweans abroad, particularly in South Africa, where people now have direct access to Nyaradzo’s products.
“Our regionalisation drive is beginning to bear fruit after extending footprint into South Africa through the opening of a Service Centre in Randburg.
“I am also happy to announce that we are at advanced stages of setting up another Service Centre in the United Kingdom,” he said.
The company obtained a service licence in South Africa in 2015 and moved to set up structures in that regard to oversee the service provision.
Mataranyika said tlsince 2001, the group had grown to command about 70% of the funeral assurance market, and has over 40 branches countrywide with a total fleet of 500 that include hearses and buses.
According to Mataranyika, the new product is part of the group’s vision of becoming a preferred provider of total insurance risk and events management solutions through sustainable, dynamic and innovative products delivered to world class standards globally.
“Today, it is estimated that there is three million Zimbabweans residing in the Diaspora and they are often not catered for by most Zimbabwean products.
“The Sahwira International Plan is a product dedicated to ‘redefining convenience’. The product benefits both Zimbabweans based in the Diaspora as well as their loved ones back home, meaning that you can cover your spouse, children and any other dependants both in the Diaspora and in Zimbabwe,” he said.
Mataranyika said SIP allows policy holders to get two return air tickets from wherever they are in the world to Zimbabwe.
He said the thinking behind the product is that death comes when least expected and in our culture it is the norm to be present for a family burial whether immediate or extended.
“However, being present can be very difficult without planning and as Nyaradzo we want to bridge that gap and give people living abroad the opportunity to be present for the burial of their loved ones,” he said.
According to Mataranyika, the SIP also includes benefits such as accommodation in comfortable apartments as well as the provision of a double cab vehicle which will be used for the duration of seven days.
Other optional benefits include vehicle rental services in Zimbabwe. Mataranyika said the monthly premiums start from an average of $20.