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GEORGE NYASHANU

Charity Ruzvidzo Business Reporter
ZIMBABWE’S leading mobile network operator, Econet Wireless, says it has invested more than $1 million in its life cover product called EcoSure Funeral Cover. Speaking during the launch of the policy in Bulawayo last week, Econet Life Cover managing director George Nyashanu said:

“We’ve used more than a million dollars in ensuring that we set up a funeral policy that is accessible and caters for all funeral needs.

“The policy will offer free funeral cover worth $1,000 for the first three months, the offer is valid until February next year.”

He said EcoSure was different from Ecolife, their previous life cover product.

In 2012, Econet terminated its Ecolife life cover product following the expiry of an agreement with First Mutual Life and Namibia-based Trust Co with whom the product was jointly offered. An estimated 1,2 million consumers had subscribed to the product.

“Ecolife faced legal battles which later led to its closure. The cover was an issue of loyalty; buy so much airtime get funeral cover of this much.

“On the other hand, Ecosure is different, one has to pay a monthly premium ranging from 50 cents to $5 to cover funeral expenses and services,” he said.

Nyashanu said EcoSure was working in partnership with local funeral companies.

“We’ve engaged other funeral companies which include Kings and Queens, Passion, Fidelity and Doves, among others.

“These companies will be able to reach and offer services to beneficiaries,” he said.

He added that the policy was also targeting those in the rural areas.

“We’re targeting those in the rural settlements who say they can’t afford funeral policies.

“EcoSure offers services which an ordinary person can afford,” said Nyashanu.

EcoSure services are accessed through a mobile phone and a national identity card is needed for registration process.

EcoSure was the 12th product that the telecommunication company has launched this year alone.