Harare – First Mutual Holdings Limited, Group Chief Executive Officer, Douglas Hoto said the Group remains cognisant that in order to deliver on its strategic intent and agility, innovation and product relevance remain key drivers in value creation and meeting higher customer needs.
He said this is in response to the operating environment that is now dynamic with accelerating evolution and fintech disruption in a way in which business is contacted as well as non-traditional competitors jostling for a share of the wallet.
“Significant progress has been made in product strategy and review resulting in improved offerings for customers in the retail facing business, namely Life and Health.
“Investment in Information Communication and Technology (ICT) as well as human resources development and retention continue to be core deliverables and a robust talent development strategy is imperative to respond to the businesses’ future needs,” said Hoto.
He said growing the top line and increasing bottom line profitability while containing costs and treating the customer fairly remains the Group’s focus.
Hoto also pointed out that going forward the Group will continue to deliver on its core pillars of risk management, wealth creation and wealthy management.
“This is becoming increasingly important in a dynamic environment, characterised by shrinking disposable income and increasing customer discernment in pursuit of value for money.
“The Group is anchored on availing economic dignity to our stakeholders by delivering value through innovation service excellence, strategic partnerships, relevant products and capacitating our distribution channels driven by robust ICT platforms.”
Hoto added that the Group’s strategic intent to be a market leader in their chosen markets has gained momentum through the acquisition of a major short-term insurance business.
“The acquisition of NicozDiamond Insurance Company Limited (NDIL) strengthened the Group’s position in a market where flight to quality has become more relevant.”
First Mutual Holdings Limited is a financial services group that is committed to creating value through risk management, wealth creation, and wealth management predominantly in the insurance sector.
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