United General Insurance and Old Mutual dropped a bundled product called Auto360 that smashes motor coverage and life insurance together, and Reserve Bank of Malawi supervisor Kaluso Chihana said the industry needs to stop chasing profits and start building stuff that actually helps regular people deal with their problems. He mentioned the combo approach could boost insurance adoption since Malawians barely touch these products right now.
Old Mutual boss Mark Mikwamba called the launch well-timed for what customers want, while UGI head Grant Mwenechanya explained the package closes a gap by protecting both the car and the driver's family instead of treating them as separate issues. Chihana pushed for more teamwork between life and general insurers to create micro-insurance options that might get everyday folks interested.
Old Mutual boss Mark Mikwamba called the launch well-timed for what customers want, while UGI head Grant Mwenechanya explained the package closes a gap by protecting both the car and the driver's family instead of treating them as separate issues. Chihana pushed for more teamwork between life and general insurers to create micro-insurance options that might get everyday folks interested.
