Old Mutual urges brokers to be innovative


Insurance service providers Old Mutual Malawi has urged persons and firms who arrange transactions between a buyer and the company to be innovative so as to improve the country’s finance industry.

The call was made on Sunday December 18 at Blantyre Sports Club in the Commercial city where Old Mutual Pension and Life Companies awarded brokers who are said to have contributed to the company’s success in 2022.

Speaking at the event which was spiced up by the FIFA World Cup final between Argentina and France, Tawonga Manda who is the General Manager for Old Mutual Pension Services Company, said brokers are the center of the company’s success, hence the idea to reward them at an auspicious occasional like that.

Manda advised these brokers to be innovative on the sidelines that no single broker amongst the eight managed to emerge the winner of this year’s innovative broker category.

“Brokers play a very important role in the acquisition of new customers and also in the servicing of our mutual clients. 2022 has been a long year and we felt that we could have an opportunity to enjoy together with our brokers and we saw no other way of doing that than to watch the final match of the World Cup, hence this event, we are so much proud of them.

“Because of these deliberate programs we have introduced, we can attest that there is a good relationship with our brokers and I would still ask you our brokers that you should continue bringing innovative solutions that will propel all of us forward,” said Manda.

During the awards ceremony, Kingfisher got broker with highest premium collection award, while Marsh has gotten the broker with highest new list business award, with Rhino winning the most improved broker and has each bagged a trophy and an air ticket to South Africa for a brokers event slated for 20th to 25th December.

The highest pension collection broker has gone to Minet, while broker with highest client retention rate has gone to Kingfisher, Trinity Canopy, Minet, Rhino and Mahogany insurance brokers who have each bagged a certificate and a K100,000 voucher.

Speaking on behalf of all the brokers, Marsh Malawi Chief Operating Officer Thom Mwamadi hailed Old Mutual for their mutual relationship and for recognising the brokers’ daily duties through the awards.

Mwamadi was, however, quick to ask the financial service provider to consider increasing the commission rates the brokers get claiming they are working tirelessly to find businesses for the company and said that’s the other way of thanking them for their outstanding efforts.

“We would like to thank Old Mutual for recognising us, and there are so many improvements which we have registered from the previous interactions. However, being a middle man is not simple, we run around the town to find businesses for Old Mutual, so its my humble plea that you increase the commission because we are doing enough for the company. Its good to get something so that we bring in more,” said Mwamadi.

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