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This week Africa Business Communities meet with Esmé Theron, dirrector at T&E FinOps in South Africa
Please introduce your company
"T & E FinOps was established in September 1998. I am the founder and only shareholder. The two directors - Esme Theron and Tiens Thero - have altogether 40 years experience in the financial sector. The company started off in developing and marketing of a niche product to the agricultural sector and since 1998 developed into a one-stop financial services, offering the entire spectrum of financial products and services to selected clients. We entered into a national contract with Agri SA in 1999. The product was launched in 1999 and was introduced by former President Nelson Mandela at a gala event in Pretoria."
Why did T & E FinOps enter the health care area?
"As a Certified Financial Planner it is important and part of our Code of Ethics to give Best Advice. My viewpoint about any assurance or insurance is that you need to cover your risks first before you think of investments. Now a quick way to determine your risks is to know what you can pay out of your own pocket and what will make a huge hole in your financial soundness. Again, I will say that health is your biggest risk, does not matter where you live. Thus, my reason for entering the health care area. It is very important that all people have access to basic and more health care."
What are your primary solutions on medical insurance in Africa?
" In- hospital benefit, chronic disease benefit, day to day primary health care, Major disease benefit, like cancer."
How different is your medical insurance and what additional benefits will it bring for customers?
"The differentiator is service, expertise, capability and accessibility. Additional benefits will be accidental death and disability cover and funeral cover."
What kind of never-before customized products are in the offing for customers?
"Medical Insurance that is like a Medical Aid, but can be favorable underwritten, depending on age and country."
Do you see Africans finally opting for medical insurance benefits?
"I do believe so, because Africa has major health risks."
If you had to give a company a couple of pieces of advice regarding medical insurance, what would you say?
"Employees should have access to a hospital benefit, chronic diseases and a small benefit for day to day care. This will increase a company’s productivity and retention of employees. The costs involved to a high personnel turnover, cannot be compared to the minimum cost of health care for your employees."
What is the latest?
"We are expanding our business up into Africa and will be able to offer a wide spectrum of products and services tailor-made for the target market."
This interview series is powered by Africa Business Communities.