NICO General launches ‘Umisili Life Insurance’ policy to address accidents associated with local construction industry 

Malawi’s leading insurance providers, NICO General has launched a new insurance policy named ‘Umisili Life Insurance’, which is a combined policy aimed at addressing risks and accidents associated with Malawian construction industry.

The new product, which was unveiled on Tuesday at Bingu International Conference Centre (BICC), has been launched in collaboration with other two insurance blockers — Minet and MABCATA.

The Umisili product will, among other things, provide a platform to constructors to gain access of money without a bond.

At the launch, Nico General Chief Executive Officer,  Donbell Mandala said construction industry faces a lot of challenges when doing their jobs and with the coming of Umisili product they will be offering solutions to the industry in order to create conducive environment.

“What we want to do is to sell this product to other companies in conjunction with our partners, who are  Minet and MABCATA companies so that everyone can get access to Umisili Insurance Policy,” Mandala said.

MABCATA Board chairperson, Wickly Mhango said they are happy to partner with Nico General and promised to work hand in hand with NICO to make sure they promote the product across the country so that is is accessible to many people.

“Umisili Insurance is a blessings,” he said. “It is one of the best because it will people to make more profits.

“This product has come in time when  people were suffering to get money from banks because same banks need bonds to let same companies to get loans but this product will help people to have money without a bond.”

In his remarks, Minet Managing Director,  Delvin Khongono said Minet will act as advisors to people so that they can enjoy the product through out.

“On our part we’ll try to cast the net wider so that all insurance products needed by constructors are provided,” he said.

NICO General continues to be innovative as in April it introduced ‘Eyetu Drive Better Rewards’ promotion, which is aimed at encouraging motorist to be careful on the road and to reward those that make no claims for at least 3 years on an insured vehicle.

In July, Mandala said the campaign has been well received on the market and added that the company is committed to introducing new and innovative ways to keep clients satisfied and safe on the road.

The Eyetu Drive Better Rewards promo, which is expected to run for a year, will see 3 winners winners walking away with cash back and discounts on the next insurance renewal or addition in each quarter of the year.

The quarterly prizes are as follows:

1st Prize – K300,000 cash back and K300,000 discount on next insurance

2nd Prize – K200,000 cash back and K200,000 discount on next insurance

3rd Prize – K100,000 cash back and K100,000 discount on next insurance.