NICO Life Records 18 % Growth in Premiums
NICO Life Insurance company says it has recorded an 18 percent growth in premiums from K2.2 billion in 2020 to K2.6 billion in 2021.
The Insurance company’s Chief Executive Officer, Eric Chapola has attributed the trajectory to an informed people in demand of insurance services and their long-term benefits.
Chapola was speaking on Tuesday in Blantyre when the company was rewarding top performing employees who have contributed to the milestone.
“If you look at our figures to year-to-year sales, in 2021 we had about 20 percent growth in premiums owing to the work that our sales agents have put in, this is why we are rewarding them today,” said Chapola.
NICO Life annals indicate that in 2020, there were about 9800 policy holders and in 2021 over 10500 new policy holders were introduced to different schemes.
The chief executive added, “The policy enables people to have peace of mind. You know that in 10 years or 20 years’ time, I will get my returns and because people know they will be getting their benefits in full they are making the decision to invest, the most important thing is that there has to be a commitment”.
Ison Mwandira from Lilongwe branch who emerged as best agent in the year ending said the idea behind the success is to sell products that you understand.