A female and youth owned insurance broker, Malsure Insurance Brokers, which was only formed just four years ago, is buoyant it has what it takes to spread the business outside Botswana borders in the next three years.
The ambitious statement was made by founder and Managing Director, Malebogo Gaboeletswe this week. “We aim to expand our global footprint while deepening our roots in Botswana,” she said, proudly adding that Malsure has partnered with eight working local underwriters and has a relationship with an Australian based insurance broker for international clientele and exposure. Malsure offers tailored insurance solutions as part of a broad financial planning product offering. “We recognize that insurance isn’t just a product, it’s a critical component of long-term financial health,” she told Botswana Guardian.
Among others, the company offers insurance for vehicles, business, property, life, retirement annuity among others at competitive rates. Botswana’s multi-million Pula insurance brokerage sub-sector is highly competitive, with domestic and foreign controlled firms fighting for the same pie. Given the current landscape, what is Malsure doing to stay competitive and relevant in the market?
“We reject the prevalent transactional “sales-first” models, but ensure that our services and product offering improve the lives and wellbeing of our patrons,” explained Gaboeletswe. She was quick to point out that, to stay relevant, they operate within the three tier approach, which set them apart from the rest. First and foremost, they recruit and rigorously train graduates, equipping them with technical expertise and ethical advisory skills before putting them in the front line. “Our advisors prioritize clients’ needs over sales targets, this youth centric approach makes us appealing and tuned in to the dynamic ecosystem,” she said.
The company also ensures certified planners analyse clients’ entire financial landscape savings, investments, and risk mitigation not just insurance gaps holistic financial planning. Lastly, the company plays an active role in financial literary initiatives, more especially that, Botswana’s insurance penetration at less than 4%. “Many Batswana still view insurance with skepticism; we’re here to change that,” she added.
Over the years, partnerships have proven key to most businesses. Malsure has found it befitting to cement some strategic alliances which has come in handy over the years. “Our partnerships with engineers and project managers ensure clients receive expert recovery guidance during crises. For example, post flood, we didn’t just process claims, we advised on rebuilding sustainably,” she disclosed. Globally, the company has netted a working relationship with an Australian underwriter.
The above partnership addresses the diaspora’s neglected insurance needs, a gap they identified early.
The insurance business is risky by nature. Any risk not calculated well, normally results in a blow for the company, including stifling growth. Fortunately, for Malsure, they have a watertight business strategy in place. “We prioritize organic growth and client needs over short-term profits. Our underwriters have weathered economic storms, so we trust their resilience. We’re not just selling policies; we’re building a culture of financial empowerment,” she explained confidently.
Malsure, which is regulated by Non-Bank Financial Institutions Regulatory upbeat of growth in business despite muted economic growth which has reduced consumers’ disposable income. Key economic growth drivers, as outlined by Gaboeletswe, include customer retention, innovation and partnerships. The company will continue to prioritise personalized service for all clients, rejecting segmentation.
The company has placed innovation as one of the key factors which will drive the business going forward.
In partnership with a local underwriter, Malsure has launched micro insurance products aligned with United Nation’s Sustainable Development (SDG) Goal 10. The goal aims to reduce inequalities globally. “This makes insurance accessible to underserved communities,” she said as a matter of fact. Through partnerships like the Australian brokerage alliance, the company serve Botswana’s diaspora, ensuring families here and abroad are protected.
As an emerging company, Malsure is well aware of the importance of giving to the community. “CSR Corporate Social Responsibility is in our DNA. We mentor graduates, creating tomorrow’s financial leaders. We also support women and girls through donations to women empowerment activities and offer free debt restructuring services for free to Government employees, Botswana’s largest workforce to combat household indebtedness,” disclosed the youthful businesswoman.
The company’ workforce is 95% woman and 80% youth below 35, including the Managing Director.
The ambitious statement was made by founder and Managing Director, Malebogo Gaboeletswe this week. “We aim to expand our global footprint while deepening our roots in Botswana,” she said, proudly adding that Malsure has partnered with eight working local underwriters and has a relationship with an Australian based insurance broker for international clientele and exposure. Malsure offers tailored insurance solutions as part of a broad financial planning product offering. “We recognize that insurance isn’t just a product, it’s a critical component of long-term financial health,” she told Botswana Guardian.
Among others, the company offers insurance for vehicles, business, property, life, retirement annuity among others at competitive rates. Botswana’s multi-million Pula insurance brokerage sub-sector is highly competitive, with domestic and foreign controlled firms fighting for the same pie. Given the current landscape, what is Malsure doing to stay competitive and relevant in the market?
“We reject the prevalent transactional “sales-first” models, but ensure that our services and product offering improve the lives and wellbeing of our patrons,” explained Gaboeletswe. She was quick to point out that, to stay relevant, they operate within the three tier approach, which set them apart from the rest. First and foremost, they recruit and rigorously train graduates, equipping them with technical expertise and ethical advisory skills before putting them in the front line. “Our advisors prioritize clients’ needs over sales targets, this youth centric approach makes us appealing and tuned in to the dynamic ecosystem,” she said.
The company also ensures certified planners analyse clients’ entire financial landscape savings, investments, and risk mitigation not just insurance gaps holistic financial planning. Lastly, the company plays an active role in financial literary initiatives, more especially that, Botswana’s insurance penetration at less than 4%. “Many Batswana still view insurance with skepticism; we’re here to change that,” she added.
Over the years, partnerships have proven key to most businesses. Malsure has found it befitting to cement some strategic alliances which has come in handy over the years. “Our partnerships with engineers and project managers ensure clients receive expert recovery guidance during crises. For example, post flood, we didn’t just process claims, we advised on rebuilding sustainably,” she disclosed. Globally, the company has netted a working relationship with an Australian underwriter.
The above partnership addresses the diaspora’s neglected insurance needs, a gap they identified early.
The insurance business is risky by nature. Any risk not calculated well, normally results in a blow for the company, including stifling growth. Fortunately, for Malsure, they have a watertight business strategy in place. “We prioritize organic growth and client needs over short-term profits. Our underwriters have weathered economic storms, so we trust their resilience. We’re not just selling policies; we’re building a culture of financial empowerment,” she explained confidently.
Malsure, which is regulated by Non-Bank Financial Institutions Regulatory upbeat of growth in business despite muted economic growth which has reduced consumers’ disposable income. Key economic growth drivers, as outlined by Gaboeletswe, include customer retention, innovation and partnerships. The company will continue to prioritise personalized service for all clients, rejecting segmentation.
The company has placed innovation as one of the key factors which will drive the business going forward.
In partnership with a local underwriter, Malsure has launched micro insurance products aligned with United Nation’s Sustainable Development (SDG) Goal 10. The goal aims to reduce inequalities globally. “This makes insurance accessible to underserved communities,” she said as a matter of fact. Through partnerships like the Australian brokerage alliance, the company serve Botswana’s diaspora, ensuring families here and abroad are protected.
As an emerging company, Malsure is well aware of the importance of giving to the community. “CSR Corporate Social Responsibility is in our DNA. We mentor graduates, creating tomorrow’s financial leaders. We also support women and girls through donations to women empowerment activities and offer free debt restructuring services for free to Government employees, Botswana’s largest workforce to combat household indebtedness,” disclosed the youthful businesswoman.
The company’ workforce is 95% woman and 80% youth below 35, including the Managing Director.
