Low earners need insurance too
Insurance cover for low income groups is much needed, Sanlam General Manager of Public and Corporate Support, Evans Simataa said stating how Sanlam views the insurance market.
This week at the Ongwedica Trade Fair, Sanlam’s presence revealed their Wealth of Wisdom concept through the power of storytelling. Sanlam used this medium effectively to show their affordable insurance products for low income earners while explaining how insurance helps in overcoming daily challenges single-income households face.
Sanlam employees were the first to be shown through song, dance and storytelling the power of investing one’s wealth through Sanlam at the initial launch in Windhoek the previous week.
Sanlam Group CEO, Tertius Stears explained why low wage earners shy away from having any sort of insurance.
Stears said that a lot of thought went into understanding the living conditions of the target market berfore taking on the Wealth of Wisdom campaign. It was necessary to understand first why some low wage earners choose to do without insurance.
“Our average Namibian has been brought up in a household to provide for the next generation. A typical household could include up to 5 members and many earn less than N$1000 per month.” Simata said, adding that because of the number of dependents on one income, the challenges are many for Sanlam in convincing low wage earners otherwise.
“However, we also know that there is no better way to provide for your children or grandchildren by making the sacrifice today, to ensure a better future for them especially if you will no longer be there one day.”That’s why we would also like to remind everyone that we at Sanlam respect every dollar and cent earned to make it go a long way.” Stears added.
Sanlam’s marketing team intends on starting with the basics of insurance before bringing the Wealth of Wisdom campaing into a home setting where storytelling usually takes place. The Windhoek launch allowed Sanlam staff to view a fifteen minute performance by professional local actors, reciting the well-known folktale including “Why Guinea Fowl Calls at Dawn”. This week, the show was taken to the Ongwediva Trade Fair where it proved to be very popular.
Weaving a tale of how life can sometimes be very unpredictable and how important it is to always be prepared for many of life’s events, Sanlam Namibia’s personnel offered show visitors individual advice on how best to go about getting affordable and appropriate insurance.
“What we do at Sanlam speaks to the heart, it’s an emotional business that takes care and provides in time of need.” Stears said , reminding the public that insurance is indeed a need and with the right provider, allows for peace of mind in knowing you are covered.
The Wealth of Wisdom show also visited Katima Mulilo. It will again be presented on 28 October at the Namport Erongo Expo.