NICO General launches “Umisili Life Insurance” policy to deal with accidents related to the local construction industry


Malawi’s leading insurers, NICO General, have launched a new insurance policy called ‘Umisili Life Insurance’, which is a combined policy aimed at dealing with risks and accidents associated with the construction industry in Malawi.

The Umisili product will, among other things, provide a platform for builders to access cash without bail.

During the launch, Nico’s Managing Director, Donbell Mandala, said that the construction industry faces many challenges in carrying out its duties and that with the arrival of the Umisili product, it will offer solutions industry to create an enabling environment.

“What we want to do is sell this product to other companies in collaboration with our partners, which are Minet and MABCATA companies, so that everyone can have access to the Umisili insurance policy,” said declared Mandala.

MABCATA Board Chairman Wickly Mhango said he was pleased to partner with Nico General and promised to work hand in hand with NICO to ensure they promote the product across the country so that it is accessible to many people.

“This product came at a time when people were struggling to get money from banks because the same banks need bonds to enable the same companies to get loans, but this product will help people get money without obligation.”

In his remarks, Minet General Manager Delvin Khongono said that Minet will act as an advisor to people so that they can enjoy the product throughout.

“From our side, we will try to expand the network so that all the insurance products that builders need are provided,” he said.

NICO General continues to innovate as in April it launched the “Eyetu Drive Better Rewards” promotion, which aims to encourage motorists to be safe on the road and to reward those who make no complaints for at least 3 years on an insured vehicle.

The Eyetu Drive Better Rewards promotion, which is expected to run for a year, will see 3 winners walk away with cash back and discounts on the next renewal or addition of insurance during each quarter of the year.

The quarterly prices are as follows:

1st prize – K300,000 cashback and K300,000 cashback on next insurance

2nd Prize – K200,000 Cash Back and K200,000 Cash Back on Next Insurance

3rd Prize – K100,000 cash back and K100,000 cashback on next insurance.

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