After concluding that its branding was boring and was not speaking to clients, Botswana Insurance Company (BIC) consulted heavily with consumers and decided to have a brand refresh, the CEO, Newton Jazire, has said.
The rebrand was done in July this year and has been in force since. According to Jazire, the rebrand exercise tapped into its youthfulness and creativity of BIC’s Executive Committee. From the exercise, the insurer has concluded that Batswana are very creative and have the ability to do what they put their minds to with the ability to attract new clients.
Significantly, Jazire says more Batswana should be given opportunities because they have been able to drive the BIC brand back to Number 1. Having vowed to improve financial education among the general population, the CEO says BIC has learnt that such a course, especially when it includes insurance education, is not a one-day journey.
A notable BIC innovation has been the introduction of a virtual employee called “Nkamo” that will answer all their needs. Another significant development is introduction of Insurance Thursdays for discussion of different topics that unpack insurance language each week on Thursdays. Jazire says this has created “a very good working relationship” with BIC clients through which the company is benefitting from good feedback.
For short-term insurance, BIC is back at the top because its teams are offering tailor-made covers to clients, Jazire noted. This is having the added advantage of keeping employees motivated, especially that training is continual.