A decade ago, Econet Wireless stepped out to form a product to meet a growing demand in the market.
Seeing an opportunity to bridge this gap, the country’s largest telecoms provider leveraged its expansive customer base to launch EcoSure. Fast forward ten years, and EcoSure has grown from a mobile-based solution into a major player in the insurance industry, serving over three million customers.
“Our goal from day one was to create solutions that resonate with the everyday Zimbabwean,” says Gift Noko, Econet Insurance’s Chief Insurance Officer. “We knew that traditional insurance models were leaving many people behind. That’s why we set out to innovate, to build something inclusive, affordable and impactful,” Noko said.
From the start, EcoSure’s market strategy has focused on making insurance more affordable for millions of Zimbabweans who have previously been excluded from existing products. To date, the company reports that it has paid out claims to over 56,000 families, offering support to bereaved families across the country.
Says Noko: “Looking back at the lives we have touched and the communities we have supported, I can confidently say we have made a difference.”
Apart from lowering access barriers, EcoSure also focused on developing value packages that address the unique needs of users. This has helped EcoSure retain users over the years. A string of promotions – such as Mabhodho, Chauya Chakaloader and Titambire Sethule – have helped build brand loyalty. This continues on its 10th anniversary, as EcoSure rewards 1,200 customers with cash prizes over the next 90 days.
“Insurance isn’t just about policies or payouts — it’s about relationships,” says Noko. “The trust and loyalty of our customers have been the cornerstone of our success. Our promotions are a way of saying thank you and showing our gratitude for their being part of the EcoSure family.”
Beyond insurance, EcoSure’s community investment has also added to its brand presence. The COVID-19 pandemic was a serious test for companies such as EcoSure. The company intervened by distributing hundreds of handwashing basins across the country.
“The initiative promoted critical hygiene practices, curbing the spread of the virus, safeguarding thousands of lives and reinforcing the nation’s resilience during a time of crisis,” recalls Noko. This continued after the pandemic peaked. “In 2023, we replicated the initiative, donating handwashing basins to more than 100 schools in regions across the country that were affected by cholera.”
The company points to 17 prizes it has won since launch as a testament of its market growth. These include the Most Popular Funeral Cover (2017) by the global Research Bureau International, the Top Life Assurance Award (2021 and 2023) at the Top Companies Awards, and the Most Innovative Insurance Company Award (2021) in a national Insurance Survey.
What’s next for the coming decade? Noko says the key to sustained growth is rolling out more products and services that meet the changing needs of Zimbabweans.
He says: “It is a renewal of our commitment to all Zimbabweans, to inclusion, and to even greater community impact over the next decade.”
Surveys show that less than 30% of Zimbabweans have insurance, 70% of which are funeral policies. According to insurance regulator IPEC, funeral assurance accounts for 70% in the life insurance sector.
