Metropolitan Life and the Shembe Church have entered into a strategic partnership by launching the Nazareth Baptist Church Funeral Cover in efforts to foster the financial inclusion of black people in the insurance stream service.
With the partnership launched on a cold Friday morning at Sharula Estate in Ballito, KwaZulu-Natal, the glamorous event was graced with the presence of legendary broadcaster Dan Moyane as MC, and a few congregants.
Metropolitan Life CEO, Peter Tshiguvho, deemed the collaboration between the two organisations a “significant milestone”, as both entities are more than a century-old.
The partnership was given a go-ahead on September 23 following months of deliberations between Metropolitan stakeholders and delegates of the Shembe church.
Inkosi yamaNazaretha, Phinda Shembe, could not attend the ceremony due to religious commitments.
However, he sent a video-message, blessing the partnership between the entities.
One of Metropolitan’s pillars was to enter into strategic relationships, aiming to access a certain market the life insurance company could not reach, hence teaming up with the church.
Tshiguvho told guests that Metropolitan is a company that strives to build and protect its clientele’s financial dreams, highlighting how the Nazareth Baptist Church Funeral Cover plans to tackle the current “Eurocentric” policies in the insurance industry.
“This partnership is going to help us contribute towards financial inclusion. When we talk about financial inclusion, we speak about the many black people who are not necessarily included in this.
“Today, as we sit here, is to try and ensure that we come up with solutions together with the church because the current insurance policies are Eurocentric as if the only person to take out a policy must be employed or have a bank account. Even those who are not fully employed have needs and dreams, now this talks to me as financial inclusion,” said Tshiguvho.
Tshiguvho explained that Metropolitan, in particular, chose to team up with the church due to its large membership.
This lifelong partnership aims to make strides with a return on investment to generate income and empower local communities.
Members of the NBC will be identified and trained to sell the funeral policy to congregants in an effort to beat the high unemployment rate.
The group chief marketing officer at Metropolitan Life, Nontokozo Madonsela, unveiled the anticipated brand logo.
Madonsela said the final visuals of the brand logo were approved after consultations with the church brass.
With the particular use of a woman in the logo, which sparked audience interest, Madonsela said: “Women play a significant role in the church - they are important.”
She added that as the partnership grows, a string of pictures will be unveiled to showcase diversity within the church.
“With the branding of Metropolitan, we hardly use pictures. The picture in the logo is among other pictures approved to show the church’s diverse congregation – we wanted the members to see themselves. The pictures will change as our partnership grows,” said Madonsela.
Head of strategic partnerships at Metropolitan, David Mavukani, told “The Star” that service providers will be appointed to attend to the church’s specific funeral customs.
“We are going to appoint service providers with the church that can support them. Those funeral providers will conduct the funeral according to the Shembe customs,” said Mavukani.
The Nazareth Baptist Church is known for its practice of polygamous marriages, therefore, the funeral policy covers a maximum of three spouses, and multiple children with different surnames.
The funeral cover temporarily has three packages, starting from between R10 000 and R30 000.
“The main member has the option to add up to three spouses. Once we have received feedback, we will continue to enhance the product to make sure it represents all members,” said Mavukani.
Another significant stride is that the funeral cover recognises customary marriages, but a marriage officiant - the church leader - must confirm the matrimonial ceremony took place.
Speaking to the paper, Nonhlanhla Nxumalo, a congregant, expressed her excitement, stating finding an insurance that caters for the Shembe church’s customs was a challenge.
“I am excited about the partnership, because the product they came up with understands our burial customs as members of the church. We have been experiencing challenges of not finding an insurance that fits our customs. Also, the creation of employment and that a certain percentage will come back to the church, which covers its critical needs,” said Nxumalo.
Another member, Sibusiso Nxumalo, echoed her words.
“I am very happy with this partnership, it is a milestone that has never happened before, because it will create job opportunities for our children; and the church will enjoy the benefits of the product,” said Sibusiso.
The Star
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