Lidwala Insurance has launched a medical aid cover that will be affordable to almost every member of the public.
The medical aid cover was launched yesterday.
Under this new cover there are options that start from as little as E200 per month. The insurance company believes that as the country’s economy and its people grow so should their access to healthcare.
Explaining about the product, Lidwala Insurance Managing Director Dr Thokozani Nkambule said the company would be offering a locally owned medical aid product to the local market.
The medical aid product will be called Lidwala Health and is already accessible in the market. Nkambule said Lidwala Health was supported by all local service providers as well as over 12 000 service providers in the South African market.
He disclosed that Lidwala Health would offer five products that were split into two major categories which offered solutions targeting low, medium and high-income earners.
“Further, our product is open to both corporate and individuals. With these products, we aim to change the behaviour of our people to adopt a more proactive approach to managing health, hence we have a strong focus on wellness,” Nkambule stated.
He said Lidwala Insurance was characterised by its continuous drive for innovation, excellence and delivering products that respond to clients’ needs.
“We have broadened the scope within Short-Term Insurance by looking into health.
The decision to introduce health in our product offering was largely driven by the continued focus on creating value for our customers,” Nkambule stated.
He said they see themselves as a leading integrated business partner, both in Eswatini and beyond.
“This kind of aggression is what drives us as we go about with our business, hence the decision to widen our scope and provide more services under the same umbrella,” he stated.
According to the managing director, in the local market, medical insurance popularly known as medical aid, has had very low penetration levels compared to neighbouring countries.
Nkambule said they have seen these low penetration numbers as an opportunity to provide a suite of products that would meet the needs of the uncovered lives.
He explained that one of the key factors that have resulted in low penetration of medical aid was the cost.
“Our market needs an affordable medical cover that can provide access to private health facilities,” the managing director stated.
He added that when most Emaswati are faced with an unexpected illness, condition, or accident they depend solely on cash, which may not always be readily available, to fund treatment.
Nkambule said Lidwala Health offered the perfect solution as they would ensure the public could always access health services whenever needed.
Datum Chief Executive Officer Sydney Sichula said they this product would bring true value to consumers. In fact, he added, competition in any industry results to more value for the consumer, stating that this product has been designed to deliver.
“We see this product improving lives of the nation as it also brings about affordability, hence it would increase the number of people accessing private health care, thus alleviating pressure from the already strained public sector health facilities, as more people will now access private health facilities instead of congesting the public hospitals,” Sichula stated.
Lidwala an innovative insurer
Lidwala Insurance Business Development Manager Sikhumbuzo Nkambule said established in 2009, Lidwala positioned itself as an innovative, alternative risk solution provider by introducing revolutionary products and services.
He said as an established service provider in the Short-Term Insurance industry, Lidwala was the first insurer to insure homes built on Swazi Nation Land (SNL) and introduced the innovative alternative risk transfer solutions (ART) to the people of Eswatini.
“We were also the first insurer to develop a motor cover targeted at grey imports in Eswatini, all of this confirming our drive to continually evolve and innovate in response to our client’s needs,” he said.
According to Nkambule, over the decade, Lidwala has maintained its position as an innovative insurer by developing and implementing products that have positively impacted a variety of industries, including construction and engineering, forestry and agriculture and manufacturing.
He said through continuous engagement with the market and clients, they have continued to evolve over time, as seen by the introduction of relevant insurance products as the market demands.