Local medical insurance firm, MedHealth, has taken over operations of South Africa based Metropolitan Health.
Metropolitan Health has been offering medical insurance cover to many over the past several years.
In an interview on the sidelines of a clientele dinner the firm hosted in Blantyre, MedHealth Managing Director, Bright Kamanga, said the move will help grow the local insurance industry.
“We understand the market and we will endeavour to close the existing gaps. But while being an indigenous player, we will offer services that meet international standards,” Kamanga said.
Commenting on how the insurance sector has fared this far, Kamanga lamented over low penetration rate while faulting the economic landscape.
“Penetration has been less than three percent. This is very low for a country like Malawi. The economy has been a challenge, but we can see light at the end of the tunnel especially in the medical cover space,” he said.
In a separate interview, MedHealth Board Chairperson, Nel Nyirongo, said the firm comes as a “game changer.”
“This scheme is special in a way as it makes a big shift in the sector. It is a matter of the spread of money in the economy. It needs inclusion and this is a starting point and it should spread to rural areas as well,” he said.
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