Fake motor vehicle insurance policies have flooded the market and this could affect you unless you are vigilant. Millions of dollars are being lost to fraudsters. This not only affects the individuals who are insured under these bogus policies but also affect local government and the insurance providers. If you have bought one of these bogus policies you will only find out when you have had a loss and wish to make a claim. At that point you will realise that you will not get any compensation for your loss or the premiums that you paid.
In difficult times when every dollar counts, you want to make sure your insurance policy will actually protect you. So, what do you look out for? Its all about trust.
Who then should you trust?
Any official licensed insurance agent should be able to prove they are registered with the Insurance and Pensions Commission of Zimbabwe (IPEC). You can easily check this yourself by calling them directly www.ipec.co.zw, Tel. 443358/443261/443422; Cell: 0772 154 281, 0772 154 282 . Most insurance agents are honest and ethical, but there is a growing number of dishonest agents who are cheating their customers. Instead of arranging the policies with the Insurer, they create fake policies and steal the premiums . Customers only discover the scam when they make a claim and the insurer cannot trace their policy because it doesn’t exist. You should always report such cases to IPEC and the police. If your agent is registered, you might be able to make a claim from their professional indemnity insurance that official agents must hold.
ZimSelector.com will give you peace of mind because as a licensed and official multiple insurance agent we only deal with leading and trusted insurance brands. This is fantastic news for Zimbabweans at home and in the diaspora as you can now compare and buy insurance and banking products online and reduce your chances of being robbed of your hard earned cash.
To give you even more reassurance, on 4th June 2015, the Governor of the Reserve Bank of Zimbabwe, Dr John P Mangudya endorsed the ZimSelector.com platform as being “well aligned to the RBZ’s policy of financial inclusion and as an important platform for those in the Diaspora to invest back home.” He applauded the unique attributes of ZimSelector.com stating that “This platform resonates very well with the current trends in ICT. He also congratulated the participating brands for “their willingness to be transparent and also for their commitment towards simplifying products. The participating institutions include: CABS, CBZ Group, CIMAS, Fidelity Life Group, NMB Bank, Nicoz Diamond, Old Mutual Group, Old Mutual Insurance Company (formerly RM Insurance), and Zimnat Insurance Group.
What is the way forward?
Don’t be discouraged from insuring your assets though, it is absolutely the correct thing to do – just do it safely. One sure smart and safe way is to insure online through www.zimselector.com or the ZimSelector mobile app available on the Google Playstore. You receive your confirmations and documents electronically and will always have a fall back office location and phone line to call.
In the meantime however, there is a remedy that the Government is working on to combat the fraudsters. According to Honourable Minister Gumbo, his ministry has consulted the Insurance Council of Zimbabwe (ICZ) to introduce electronic insurance cover notes. The project will see insurance companies being linked to databases of Zimbabwe National Road Agency (Zinara) and Central Vehicle Registry (CVR) to ensure no vehicle was licensed without a valid insurance policy.
The introduction of electronic cover notes will come with the advantages that include elimination of cheating and issuance of forged cover notes which why you need to take a look at ZimSelector.com where you’re kept up to date with technology and most importantly compare your options before buying.
Providing financial security for you and your family can never be over emphasised, especially in these tough times. You will find all the information and products you need on www.ZimSelector.com. A friendly customer services team is always available on
email : customerservices@zimsselector.com, Tel – (04) 480417, 0775713867, or visit us at 14 Steven Drive, Msasa, Harare, Zimbabwe.
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Me / April 21, 2016
Can you please help the public by naming those that have been proven to fake so that we know who to avoid.
Also in my opinion I think it’s bestvto stick to the well known traditional agents that have been there for years and years. You’ll get less risk that way!
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