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Guaranteeing access to insurance services for people with moderate incomes is the mission of the Mutual Insurance Company of FUCEC-Togo (MAFUCECTO). To do this, a new insurance company was created, offering products accessible to the most deprived.
The launching ceremony was chaired on Tuesday December 10 by members of the board of directors.
The FUCEC-Togo Mutual Insurance Company (MAFUCECTO) is launching a new insurance company. Born from the desire to meet the insurance needs of the population and to serve the maximum number of people, this new company was launched on Tuesday, December 10, 2019 in the presence of many players from the financial sector.
Aware of the gap existing between the populations and the insurance companies, and of the bad image of the latter with the most disadvantaged, FUCEC Togo is taking initiatives to reduce this distance and attract the populations to it.
The newcomer to this institution therefore aims to offer life, death and capitalization insurance products to disadvantaged populations at affordable costs.
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For the members of the board of directors of this new company, it is a question of innovating and bringing support to those who work in the informal sector. It wants to make accessible products such as loan insurance, end-of-career allowance, mixed education annuity, retirement social security, family protection and offer microinsurance to the most disadvantaged.
Essossimanadada Dadanema, president of the FUCEC-Togo Board of Directors, believes that many people work in the informal sector but are not entitled to a pension. “This is why we want to really innovate and support all people, especially women retailers, all workers, students and young people. In the long run, this insurance will also cover farmers, ”he said.
The implementation of this insurance essentially aims to support the disadvantaged population in the event of death and complete disability which makes it difficult to repay the loans.
According to the representative of the Minister of Economy and Finance who chaired the event, the insurance sector is an essential link in the development of the country’s economy and responds to the government’s development vision. This initiative is therefore welcome and receives all the support of the State.
Recall that the CIF Life Insurance has a capital of 5 billion FCFA including 4 billion fully paid. It aims to revolutionize the insurance sector and be essential for populations.
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Éric G.
