FIRST and foremost compliments of the season to all the readers of this column both in Zambia and across the globe via the internet.
The festive season brings a lot of excitement, joy with a hype of activities across society.
The two holidays that make up this season are Christmas and New Year’s days with a space of seven days apart. Zambia being a Christian nation Christmas is a time of remembering the birth of the greatest man ever to have lived on earth, Jesus Christ.
Having come all the way from January the festive season is a time to appreciate and share many things with loved ones.
This may be in form of gifts or time together.
In the corporate world some companies even close business in what is said to be an industrial break so that employees can spend valuable time with their loved ones.
This is also a period in which companies give Christmas bonuses as a way of appreciating the contributions by employees.
In a family set up children know that even if they didn’t receive any gifts during the year from dad and mum, during Christmas ‘Santa clause’ will show up to give them some. To sum it up, it is a season of giving.
Insurance players are not in a secret society, they are also part of the larger society that give out seasonal gifts in different forms such as diaries, pens, folders, calendars etcetera.
This is a way of appreciating the contribution from customers who are the life blood of their businesses.
The first tip for today is that when you go to your insurance company find out about any festival gifts available and ask for some.
I know that not every customer can get something because insurers also have limited resources.
They may target their valued clients for these gifts or those who pay premiums on time or those who have a good claims ratio. However even those who may not fall in the foregoing categories they may still get something if they ask.
The second tip is on festive discounts on premiums.
Like many other businesses who offer festive discounts, some insurers do the same as well.
They will advertise in both print and electronic media for such promotions.
From my experience very few customers will request for a festive discount from an insurer even if they saw one through an advert.
Most customers will just ask how much they should pay for their insurance for the next period.
If they didn’t have a claim they would ask the underwriter whether the No Claims Discount was considered in the premium.
There are very few customers who actually get their calculator to double check the premiums being quoted by the insurer.
There is nothing wrong with asking an insurer how they arrived at the premium.
It is very important that as a customer, you ask about the festive discount given. Another point on these festive promotions is that all other discounts that the customer enjoys such as the No Claims Discount or Valued Client Discount or Large Volume Discount or Special Discount will still apply on the premium.
This may translate into a reasonable savings on the customer.
Budgeting for insurance is another tip for today. Insurance is usually in the second or third tier in terms of prioritizing needs; remember that the future is uncertain hence it is better to face it with some cover from insurers.
Lastly, this should be the time you sit down and review your insurance programme.
Do you have adequate limits or is your sum insured adequately enough?
Sometimes requesting for wider coverage does not cost much for example increasing your property limit on your motor policy or asking for loss of use extension!
You may also need to consider the quality of service you received from your insurer or broker and if you were unsatisfied you may need to try another.
Of course there should be a valid reason to cross ships. On a conclusive note please remember to renew your insurance on time, do not wait for the last minute.
Comments: webster@picz.co.zm or webster_tj@hotmail.com or on facebook search for Insurance Talk-Zambia page or call/text 0977 857 055
[The Author is a Chartered Insurer with 10 years industry experience]
