Two prominent insurance service providers have collaborated on a campaign to raise awareness of insurance and its benefits as a way to encourage more Fijians to protect themselves and their assets.
BSP Life and Tower Insurance yesterday announced a joint promotion to encourage more people to use insurance products to mitigate their risks.
In a statement it was highlighted that the campaign was a result of the latest Reserve Bank of Fiji’s Financial Services Demand-Side Survey (DSS) report released last month.
According to the statement the results of the survey show that the majority of Fijians have low levels of understanding about insurance, the different types of insurance and with 50 per cent thinking insurance was not needed.
It said these results were factored into an awareness campaign where BSP Life and Tower will be leveraging the reach of their current customers to co-promote each other’s services and raise the general awareness of their insurance products.
“From an insurance perspective, the results are quite alarming as they show how vulnerable our people are when it comes to managing their risks.
“Without the protection of insurance, people cannot absorb shocks and the results are often devastating with long term suffering.
“It also highlights how much more insurance companies need to raise the necessary awareness, so that people understand the benefits of insurance to make informed decisions,” said BSP Life managing director Michael Nacola.
Tower Insurance country manager Joseph Magnus said the joint promotion was the first step in the partnership between Tower and BSP Life and they were looking at other ways to help and reward each other’s customers and increase insurance uptake in Fiji.
