BY NDUMBE BELL GASTON IN DOUALA
The Administrator Director General of Zenithe Cameroon Insurance, Maxwell Ndecham has ruptured their procedures of doing business from the former documentary time-consuming and costly face to face approach to that of more innovative time-saving and cost-effective on-line solutions called e-insurance method to benefit their customers in the ten regions of the country.
This latest development, by the guarantor of public contracts, was introduced at a Press launch organised at Akwa Palace Hotel last Friday May 6 in the presence of their close collaborators and a plethora of journalists.
Despite a relative growth rate of products sold, the development is expected to iimprove on the low rate of penetration of the volume of insurance products including rural areas, provide alternative channels of doing business rather than the concentration of sales agencies in mostly urban areas and alter public opinion, whether rightfully or wrongly, that generally, insurance companies do not honour their payment engagements satisfactory.
The on-line system or platform will be operational 24 hours round the clock without staff participation or documentation. The process of dematerialising Zenithe Insurance and the creation of this Virtual Service has brought access to transacting business at the doorstep of their patronisers, stated officials like Gerard Fru and consultant Behyia Bruce at different times of their presentations.
The move, they say, is timely because it has come at a time that there has been mounting complaints by policy holders, inquirers, and other professionals who find it difficult to make time for insurance business.
Patronisers or applicants are expected to benefit from an interactive approach or direct chat to get what they want. Those in diaspora can now insure their loved ones iin any part of the world, including rural areas.
In e-insurance, primiums and other Settlements are done rapidly through mobile money to and from bank or through bank cards or credit cards. Some of the areas where these instruments play their roles are in policies like car or vehicle insurance, what is called multirisk cover, health, accidental Zenithe Travel assistance, building sites, computer and electronic equipment and installations, Transit or transport and civic responsibilities. Today, Zenithe Insurance officials say, these transactions are done within a time-frame of 24 hours to 72 hours.
That is not all. One of the products that necessitated the rupture to e-insurance was the important responsibility of guaranteeing all forms and stages of public contracts, Subcontracts and supplies, the Administrative Director General highlighted. He revealed that despite the herculean risk involved, certain costs that were usually incurred by stakeholders or customers along the way have been cancelled by Zenithe Insurance who has taken over as guarantor and facilitator to the subscribers and their banks. Deals can now be realised within a time frame of five minutes, he affirmed. Here, he said, they are pacesetters. This, they believe, will rest assured their insured, cut delays and contribute to the economic growth of the nation.
Zenith Insurance, created since 2006 in Cameroon has bagged many distinguished national and International awards. It was confirmed recently that Zenithe Insurance is on system or norm ISO 9001-2015.