Insure Guard strategic shift pays
The decision by Legal Guard to expand beyond legal expense insurance to a fully-fledged short term insurance company is starting to pay dividends for the company now known as Insure Guard. Below, the Managing Director, KGOMOTSO RATLHAGA speaks to BOTSWANA GUARDIAN on what lies ahead for the trail blazing business.
BOTSWANA GUARDIAN: Reflect on the motivation for the shift from being a legal expense insurer to becoming a full-time short-term insurer.
KGOMOTSO RATLHAGA: The decision to pivot from being a purely legal expense insurer to a full-time short-term insurer stemmed from both market opportunity and our dominance on the legal expense market with over 72% market share. Market intel from our research matched our projections which indicated going to the open market with a market penetration of less than 3% (three) presented a huge opportunity for evolving insurance needs. This transition has ensured we provide more holistic protection to our clients while positioning the company for sustainable and long-term growth.
GUARDIAN: Summarise your contribution to the legal expense industry in the last 20 years. RATLHAGA: Over the last two decades, at low and affordable costs, we have pioneered innovative legal expense solutions that empower families, individuals, and businesses to manage legal risks effectively. With a network of 42 law firms nationwide, we have given affordable legal cover to 72,000 customers. Through the panic button product, clients may get access to legal cover anytime, anywhere, at any point throughout the year. This highly responsive mechanism shows we are early adopters of technology-driven insurance solutions. We are sensitive to day-to-day legal requirements that affect ordinary households, such as the drafting of wills and employment contracts. We drive education so we make a difference as by drawing attention to aspects life Batswana have to focus on at home and work. This has been our mark of distinction for 20 years.
GUARDIAN: What opportunities have you capitalised on in the short-term insurance market?
RATLHAGA: We aim to be the pioneers of innovative solutions for the nation’s evolving insurance needs. Consumer needs are changing rapidly, particularly with the rise of digital platforms and AI in the 21st century. By providing more on-demand insurance products powered by telematics, we spearheaded a market-first pay-as-you-drive solution that reduces risk by showcasing drive behavior and patterns for safe driving and self-improvement. We have added value services like scratch and dent amongst others. Because we are in Big Data claims processes are smoother and we are responsive in your time of need in real time as it happens.
GUARDIAN: Can you outline the key steps taken during this transformation and how the transition was managed?
RATLHAGA: This transformation required a multi-step approach to ensure we stayed aligned with our strategic objectives while managing the change smoothly. The first step was refining our vision and value proposition to ensure it resonated with both new and existing customers. We then focused on expanding our underwriting capabilities to cover a broader range of risks and products. Operationally, we streamlined teams, invested in new technologies, and refined our processes to support the increased complexity of short-term insurance. We also worked closely with regulatory bodies to ensure that we adhered to all requirements. Throughout the transition, we placed a strong emphasis on communication—internally with employees and externally with our customers—to ensure transparency and clarity at every stage.
GUARDIAN; How did you manage the change in product offerings and customer base, and what challenges did you encounter during the transition? RATLHAGA: Clarity on our purpose and cause, and our reason for existence ensured that we are the change the market needed. Our vision to be Botswana’s trusted leader and pioneer for all evolving insurance needs is anchored on the mission to safeguard and protect households, families, enterprises, and communities against financial instability through innovative solutions. Our belief in excellence, innovation, care, botho, agility, and collaboration ensures we are in sync with the markets we duly serve. We are pleased that our philosophy is driving value.
GUARDIAN: Were there any regulatory hurdles in shifting your focus from legal expenses to broader short-term insurance products?
We had a full spectrum short-term insurance license. However, we had to go through the regulatory process of approval of our diverse product portfolio and offerings by NBFIRA. Our products had to align to market demands, expectations, and quality frameworks.
GUARDIAN: How has this change in focus affected your existing legal expense insurance customers?
RATLHAGA: For our existing legal expense customers, the shift has not resulted in any disruption. We have ensured that we continue to provide the same high level of service and protection they’ve come to expect from us. In fact, many of our legal expense customers are now benefiting from the broader suite of products we offer. We’ve made sure to offer them tailored solutions that complement their existing coverage and offer additional peace of mind. While we introduced new product lines, we maintained a seamless transition to ensure customer satisfaction was upheld.
GUARDIAN: How has the market received Insure Guard and its offerings so far? RATLHAGA: The response has been overwhelmingly positive because of the innovative value anchor upon which our offerings are premised. Since our rebranding, we have seen strong interest from both our existing customer base and new clients. The market has appreciated our innovative approach to delivering flexible, customer-centric insurance solutions that are tailored to their needs. Insure Guard has been well-received for its simplicity, accessibility, and transparency—qualities that resonate with today’s more discerning and digitally savvy consumer. Our digital-first approach and ability to offer personalized coverage have helped us stand out in the competitive short-term insurance landscape.
GUARDIAN: Do you foresee any challenges in attracting new customers for short-term insurance products, and how are you addressing them? RATLHAGA: Legal expense cover is still short-term insurance. By adding additional products we are providing the market with unique offerings, which have demonstrated our mark of distinction with a series of firsts in the marketplace. Data-driven solutions where consumers can determine how much they pay for motor insurance through telematics for example, is a market first. Our strategy involves not only competitive pricing but also building trust through transparent communication and personalized service. We have also invested in digital marketing and partnerships to reach new customer segments, including younger generations and others underserved by traditional insurers.