#19
OLD MUTUAL
Old Mutual East Africa, a prominent leader in the insurance industry, epitomises customer centricity by recognising the paramount significance of prioritising both personal and business needs.
Established in 2015, Old Mutual has since evolved, absorbing Faulu Microfinance Bank in 2014 and UAP Holdings PLC in 2015, thereby solidifying its position as one of East Africa’s largest integrated financial services providers. Operating in Kenya, Uganda, South Sudan, Rwanda, and Tanzania, the group extends its commitment to customer centricity across a diverse range of products and services.
At the core of Old Mutual’s strategy is the unwavering vision to become the customer’s most trusted partner, passionately dedicated to helping them achieve their lifetime financial goals. This commitment is reflected in the comprehensive suite of products and services offered, spanning insurance, investment, banking, and savings solutions.
In the realm of personal finance, Old Mutual’s dedication to individual customers is evident in the tailored saving and investment plans available. The Lengo Education Plan and Elimika Education Plan exemplify the commitment to shaping the educational future of individuals. These plans are designed to provide financial support for education, ensuring that customers can seamlessly navigate the financial aspects of academic pursuits.
Private Wealth Management stands as a testament to Old Mutual’s pledge to safeguard and grow current finances. This service is meticulously designed to cater to the unique financial needs of individuals, emphasising prudent financial stewardship. Whether it is planning for retirement, saving for a milestone, or investing for the future, Old Mutual’s PersonalSave and Invest offerings are crafted with the individual customer in mind.
On the insurance front, Old Mutual provides a diverse range of solutions that address the multifaceted needs of individuals. From motor insurance that safeguards vehicles against unforeseen events, to life and funeral covers that provide financial security in times of loss, Old Mutual’s offerings resonate with the individual’s desire for peace of mind. Health insurance, travel insurance, and comprehensive plans like the Makao Salama further exemplify Old Mutual’s commitment to covering every aspect of the individual customer’s life.
The emphasis on the individual extends to Old Mutual’s commitment to financial education through the ‘On The Money’ program. The initiative takes a unique approach by drawing inspiration from Africa’s Big Five animals. On The Money imparts crucial financial lessons through the characteristics of the Lion, Leopard, Elephant, Rhino, and Buffalo. By focusing on actual behaviour change, Old Mutual actively invests in breaking the cycle of generational poverty, aligning with the customer’s long-term financial well-being.
Old Mutual’s customer-centric nature is further illustrated via its business plans, showcasing a comprehensive range of offerings that address the unique needs of micro, small, and medium-sized enterprises (MSMEs), employees, as well as employers.
Among the MSME-focused plans, Old Mutual offers last expense cover, credit life cover, group life cover, and the umbrella pension scheme. These plans are designed to address the distinctive requirements of MSMEs, demonstrating Old Mutual’s commitment to understanding and catering to the specific needs of its customers.
For the employees of these businesses, Old Mutual provides a suite of offerings, including group personal accident, group medical standard, and work injury benefits. These plans emphasise the importance of protecting employees against death, illness, and injuries sustained during work. The group personal accident plan, for instance, covers employees against accidental loss of life or disability arising out of an accident while on duty. Similarly, the group medical standard plan covers pre-existing chronic conditions, including HIV/AIDS, diabetes, high blood pressure, oncology, and more. This comprehensive approach ensures that the well-being of employees is prioritised.
In addressing employer needs, Old Mutual emphasises its commitment to providing exceptional cover and value-added services. The range of products spans various industries, including property insurance, motor insurance, marine insurance, liability, specialty insurance, crime, agriculture, travel, construction, and engineering.
Old Mutual’s commitment to customer-centricity is further personified in its investment advisory services. Being a market leader in pension and provident fund management, Old Mutual ensures that individuals can trust the organisation with their long-term financial security. The Old Mutual App, a user-friendly tool, complements this commitment by providing a convenient platform for customers to access and manage their insurance-related needs.
At the helm of Old Mutual’s transformative journey is Arthur Oginga, the Group Chief Executive Officer (CEO). Arthur’s leadership, marked by vision and strategic direction, has been instrumental in shaping Old Mutual into a customer-centric powerhouse.
By embodying a commitment to building trust, providing value, and actively contributing to the financial well-being of its customers, Old Mutual exemplifies the essence of customer-centricity in the landscape of the insurance industry.
