MMI was not satisfied with its overall results in 2018. According to Zureida Ebrahim, CEO Client Engagement Solutions at MMI, the poor results weren’t surprising – but they were difficult from a sentiment perspective. “However, facing that reality has motivated us to focus strategically,” she said. “We have already made significant changes to position the business for improved performance and future growth.”
According to Ebrahim, MMI’s claims ratio improvement was positive, as well as its non-life results. “Short-term insurance did particularly well, improving the claims ratio from 73% in 2017 to 67% in 2018, despite heavy claims from catastrophic weather events during the last quarter of 2017. It is also growing market share, has improved business performance by 9% in the last financial year, and has launched great new capabilities like our digital quoting system,” she explained.
Momentum Health has shown strong growth in membership numbers in a flat market and is continuing to innovate in a bid to provide more value for clients.
“Our cell-captive insurer, Guardrisk, increased its core headline earnings by 29%,” Ebrahim said. “Momentum Corporate has, over the past few years, launched a range of Smart Solutions to help members on their journey to success.”
To read more about Momentum’s growth strategy, download the February issue of RISKAFRICA magazine now!
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