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Blantyre, Malawi

NICO Life and NICO Pension Host CHANCO Actuarial Students Society

On 10th May 2019, NICO Life and NICO Pension hosted students from CHANCO Actuarial Science Society. The society of actuarial students visited NICO Life, Pension and Asset to learn what the companies do and learn how their studies will apply in the future. The event was held at NICO holdings and NICO Life Acting Business Development Manager Nancy Bisika gave opening remarks welcoming students to the Group and giving them a brief background of the NICO Group.

NICO Life CEO Eric Chapola in his remarks, welcomed the students and thanked them for taking initiative to visit NICO and put into practice what they are learning. He shared how NICO Group is the number one brand in Malawi and beyond and it is practical the students are eager to appreciate what the company does and the services we offer. He encouraged the actuarial students to be attentive as they are taken through the processes and services on offer and be alert to the opportunities this visit shall avail them to. He also motivated the students that most NICO staff also went through the corridors of UNIMA; so there is hope for them to join the prestigious organisation too, if they work hard. He thanked the patron for supporting the trip and hoped the visit will entice students to work hard as they pursue the actuarial profession. He reminded students that NICO Life also sponsors education for needy bright students and those eligible can access college funding from NICO.

In his remarks to various members of press, NICO Life CEO advised that “in Malawi we don’t have actuaries if we have at all but it’s a good development that CHANCO now has students going through actuarial studies. This profession is new and we hire actuaries to do the work for us. But we need actuaries from within and ensure future Malawi has its own pension experts”.

Khuluma Zebron, a 2nd year student who was part of the visit cited “ most students don’t know how to apply studies to work so we are excited to see what NICO Life does and what we can do and how we can help economy and insurance sector”. Speaking on behalf of the students, President of the Society of Actuarial Students, Marvelous Chikondi said “the trip is very important as we will be encouraged to achieve life goals and learn how studies link with work in NICO”.

The visit had students given a practical overview of actuarial work by NICO Life Chief Operations Manager Mr. Gerald Chima, NICO Pension General Manager Dr. Lillian Moyo and NICO Asset Chief Executive Officer Mr. Emmanuel Chokani. Thereafter the students were given a walk-around in NICO Asset and NICO Life and Pension offices with the day ending with a luncheon at Ryalls Hotel.

NICO Life and NICO Pension in Insurance Awareness Drive

Malawi has been observing the insurance awareness week from 29th April to 3rd May 2019 which had the theme ““Insurance Claims and Complaints Handling”. Organizers of the awareness week described it as crucial in raising awareness on issues of insurance in the country. In an interview with the press chairperson for the insurance week Dyton Majeed who was chairperson of the organizing committee said people will know where to channel their complaints and claims whenever they incur a loss. “Our theme for this week is very enlightening and it will clear all the misconceptions that people had on insurance,” said Majeed.

The insurance awareness week commenced with a big-walk around Blantyre city that ended at launch venue Ryalls Hotel. Insurance Association of Malawi president, Donbell Mandala, in his remarks said the insurance industry is a listening industry just wants to educate masses especially on critical matters of claims and complaints handling. He said insurance is there to turn discomfort to comfort and few are aware of insurance and more over entitlements under the various products. “we are here to kill the myth that insurers are thieves in suits. He commended the regulator the reserve bank of Malawi for their many efforts.

The launch proceeded to have a panel discussion on insurance claims and complaints led by representatives from claims sections, lawyers and medical practitioners. Thereafter the registrar for Financial Institutions, Dr. Dalitso Kabambe who was guest of honor at launch gave his remarks where he expressed pleasure at the launch of the insurance week by insurers. He noted that education levels in the country are poor at 5% and since insurance penetration in Malawi is still at 2%, the awareness drive is a necessary. Insurers also need to create awareness to fulfil promises and thanks for taking the bold step and topic chosen. Inaugural insurance awareness week as officially opened.  

The insurance week proceeded to occur at Chichiri Shopping Mall where each insurance company set up a kiosk and had staff members present to interact with the general public. The staff enlightened shoppers on the importance and benefits of insurance and elaborated on claims processing and complaint handling the awareness drive also had a fun truck that went around to various places/markets within the city to propagate the message about insurance and claims handling plus complaints.

NICO Life Sponsors Branded Water to Malawi Congress of Trade Unions Labour Celebrations

NICO Life sponsored Malawi Congress of Trade Unions (MCTU)  Labour Day Celebrations that took place on 1st May,2019 at Njamba Freedom Park in Blantyre under the theme of “Addressing Inequalities in Employment in Achieving Decent Work For All ”.

The event was graced by various dignitaries and started with a big walk from Old Town Hall from Blantyre to the celebration venue. Labour Day is commemorated on 1st May, every year all over the world. During the day, workers converge and express their plight showcased by drama, speeches, recital of poetry, performance of traditional dances, as well as marching in line with the theme chosen for that particular year.

NICO Life sponsored 2,500 branded water bottles to the function that are valued at K500, 000.00 Mr. Joseph Kamwendo, Treasurer General for the Malawi Congress of Trade Unions in receipt of the donation expressed gratitude to NICO Life for the timely and presentable water that he said will go a long way to quench the thirst of those who would participate in the big walk.



NICO Group Sponsors Rotarians Annual Lake Conference

NICO Group sponsored K10m towards Rotary International Conference at Nkopola on 24th – 28th April 2019. As sponsors NICO was granted the opportunity to brand and market our products at the event.

The event saw Rotarians and Rotaracters from various SADC countries attending the DISCON conference. NICO Life and NICO Pension contributed to the sponsorship amount and had present at lake conference its sales executives who were interacting with various patrons. NICO Life and NICO Pension managed to engage with various patrons and the conference provided the companies with valuable feedback on how to service their members better and enhance the partnership they have.

Above picture shows representatives from NICO Life and NBS Bank who manned the desk inside the conference hall.

NICO Life at 2019 Bankers Sports Day

NICO Life sponsored and took time to participate in the annual Bankers Association of Malawi (BAM) Sports Day that took place in Blantyre at the College of Medicine Sports Complex on 27th May 2019. The sports festival is an annual event which aims to foster interaction amongst various players in the Malawi banking industry.

The festival was open to all staff and families of participating banks. During the event, all banks in Malawi will participate in various games such as Golf, Football, Netball, Volleyball, Basketball, Chess, Darts, Bawo, Egg race, Sack race and 100 meters race (men and women).

NICO Life sponsored K400, 000 to the event and had various sales consultants attend the sports day and engage with patrons.

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