Insurance is based on the principle of utmost good faith and the insurer has a fiduciary duty of care to treat customers fairly and honestly.

Zimnat Life has questions to answer.

Diaspora Insurance guaranteed policy holders that their terms and conditions, start dates, premiums, covers amounts and covered people do not change. All what Diasporans are doing is to guarantee their long-term protection. If one moves their policy from say Insurance Company A to Insurance Company B and all your accrued benefits are not affected, why would you need permission of the old insurer to move. The threat that your cover will lapse equally because void because you will have moved.

Diaspora Insurance is moving clients in the interest of protecting and guaranteeing their long term protection with the biggest re-insurer in in the world, MunichRe.

Zimnat Life in trying to hold on to the Diaspora dollar is making a void claim and threats. In fact, Zimnat is increasingly sounding like a lion chasing a beast for dinner and trying to convince the prey that you don’t have a right to run away because you are my dinner.

All the Zimnat Life threats are gimmicks motivated by greed and chase for the Diaspora dollar. The ultimate loser are the Diasporans and their children. We all have scars and painful history of our losses in the Zimbabwe insurance industry.

These are the key questions that Zimnat has to answer:

1. In the beginning who approached who with the Diaspora Funeral Cash Plan project vision? Whose vision and intellectual property is Diaspora Funeral Cash Plan?

2. How does it make sense that someone approaches you to underwrite a fully developed product with all systems in place then you appoint them as your agent on their own product?

3. In your business relationship with Diaspora Insurance, what is your responsibility on the Diaspora Funeral Cash Plan?

4. Diaspora Funeral Cash Plan has been available to Zambians worldwide underwritten by Madison Life for over 5 years, did Zimnat Life appoint Diaspora Insurance in Zambia with a different underwriter?

5. Since inception did Zimnat Life invest in DFCP and what was the investment for, if any?

6. If Diaspora Insurance was to say they want to change their underwriter like they have done, what entitlement does Zimnat Life have to want to retain the clients if they don’t own and did not develop DFCP and have never invested anything in DFCP?

7. Zimnat Life has many other Insurances previously sold as USD denominated products since dollarisation in 2009, when the RTGS/Z$ was reintroduced and given the alleged capacity through Sanlam Life’s minority shareholding, why have they not refunded or guaranteed clients the USD covers they bought?

8. Who are the international reinsurers for Zimnat?

9. Why is Zimnat contacting clients who are cancelling policies now when in the past they have never chased someone who missed or cancelled a direct debit?

10. Why is Zimnat Life breaching the Service Level Agreement they have with Diaspora Insurance which bars them fro contacting DFCP clients directly?

Insurance is based on the principle of utmost good faith and Zimnat Life has a fiduciary duty to clients and must treat customers fairly by answering simple questions.