Windhoek, Sep 3 – Nedbank Insurance Namibia has launched MyCover Funeral, a funeral insurance product that allows clients to cover up to 29 people under one policy, including extended family members and domestic workers.
The product is the first to be introduced through a new policy administration platform developed as part of a business transformation programme that began in 2024. The launch also marks the adoption of Nedbank
Insurance Namibia as the insurance business’s new trading name.
At the event Nedbank Insurance Namibia head of client solutions, Allan Johnson, said My Cover Funeral was introduced in response to the need for insurance that better reflects the structure of Namibian families.
‘My Cover Funeral reflects our desire to make insurance simpler, more accessible and more responsive to the needs of the families and communities we serve,’ Johnson said. Nedbank Insurance Chairperson, Koos du Toit, said the launch followed deliberate investment in the systems
and capabilities required to support the business’s future growth. We recognized that to compete effectively in a rapidly changing environment, we needed modern infrastructure that supports innovation, scalability and efficiency,’ Du Toit said.
He said the investment had resulted in a new policy administration system and enhanced digital capabilities.
These developments are intended to improve operational efficiency and support the continued introduction of insurance products.
‘This transformation was never about changing a name or implementing a system. It was about transforming our ability to deliver value to all stakeholders,’ Du Toit said.
Nedbank Insurance Executive, Biniam Ghirmatsion, said MyCover Funeral was developed for the Namibian
market following input from clients and advisers. Business partners also contributed to the development process.
He said policyholders can cover immediate family members and relatives such as cousins, aunts and uncles.
Domestic workers may also be included, allowing one policyholder to cover up to 30 lives.
MyCover Funeral provides greater flexibility and broader family coverage than many traditional funeral products.
The objective is to provide comprehensive, relevant and affordable funeral cover that meets the realities of
modern Namibian families,’ Ghirmatsion said.
According to Ghirmatsion, clients can select benefit structures and payment options suited to their
circumstances. The product provides for potential premium-free months and offers an optional cashback benefit.
It also includes greater flexibility around missed premium payments, subject to the applicable policy terms.
Ghirmatsion said the new administration platform would support more efficient policy servicing and improve
communication with clients and advisers.
‘The system gives us capabilities we have not had before. It enables faster service experiences and gives us
greater flexibility in product development,’ Ghirmatsion said.
Nedbank Insurance Namibia will use the platform to expand its insurance offering as client needs and market
conditions evolve.
