Overview

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Market Overview

The life assurance industry is currently comprised of many players, namely First Mutual Life, Old Mutual Life Assurance Company Limited, ZB Life, Fidelity Life Assurance of Zimbabwe Limited, Zimnat Life Assurance Company Limited, Altfin Life, Evolution, IGI  and CBZ life. First Mutual Life is currently the second largest life assurer in the market on a gross premium income basis.

Although most sectors had been affected negatively for the past few years by the economic downturn, the insurance industry has managed to work extensively on regaining consumer confidence and recent statistics reveal a welcome increase in new business sales. This emphasizes the success of the industry in reforming itself and winning back the faith of the Zimbabwean consumer.

In efforts to diversify services that meet clients’ needs and various tastes, First Mutual Life offers a wide range of insurance services. In addition, a regional expansion programme is being actively pursued.

Prospects

The company sees opportunities in the future that will arise out of providing a consistently high level of service through improved technology and above average investment returns, as well as the replication of its successful model throughout the region. Several markets in the region are currently being examined and considered.

Competitive Advantages
First Mutual Life has significant advantages and strengths at its disposal, which include:

A strong distribution network
First Mutual Life has branches and agents throughout the country. The company currently employs salaried staff, who are complemented by tied agents and independent agents.

A good reputation with clients and regulators
The company’s life business has enjoyed a high reputation for quality service delivery and superior investments returns, which First Mutual Life is conscious of the need to maintain. First Mutual predecessor, the Society, had an exceptionally good and close relationship with industry regulators, a situation that has prevailed for many years and which First Mutual Life is committed to maintaining.

We offer unique and comprehensive product solutions

  • We allow you access to your life insurance cover in times of need
  • We guarantee objectivity when we assess claims
  • Your whole body system is covered
  • We offer global protection
  • Your benefits change according to how your needs change

Skilled and committed staff
First Mutual Life has a comprehensive program for the continuous development and up-skilling of its staff and agents. Incentives for relevant academic achievement are in place, along with sound human resources practices.

 High quality products and services
First Mutual Life boasts a highly skilled personnel base whose expertise has been instrumental to the culture of continuous innovation that has ensured a consistent provision of relevant and quality products designed to suit a changing market.

Platinum Plan

  • University Cover Plan
  • Funeral Cash Plan
  • Wealth Life Plan
  • Ultimate Life Plan
Employee benefits

  • Retirement Benefits
  • Preservation Fund

These are sufficiently diverse to ensure maximum choice and flexibility for customers.