Strategis' newly launched container insurance to address cash deposit challenges

A good number of transporters, shipping lines companies and other businessmen in transportation and logistics industry have lauded Strategis Insurance for coming up with a long-lasting solution to what has been the biggest headache to them.

 The new product was  launched few days ago at a colourful event held in Dar es Salaam and attended by different stakeholders and business-people.

The businesspeople now want the new product to be well publicised throughout the country  so that all businessmen get to know about it and use it to reduce their operation costs, safeguard their liabilities that may arise in connection with usage of the containers rented and improve their cash-flow.

“This is the highest level of creativity, and it is exactly what we needed as businesspeople. There is need for this message to go viral so that more transporters are aware of this new and beneficial product. This is the best gift that Strategis could ever give to container users, I congratulate them for always being creative and coming up with different solutions, said  Ulrich Mwinyiechi the CEO of Integer Intra Traders Ltd.

Container Insurance has been designed to mitigate the risks of loss or damage to containers, which aims at protecting the interests of container owners. It also extends to address the challenge of cash deposits which is something that has been a trade barrier in importation and exportation of goods.

Strategis Insurance believes the removal of cash deposit through insurance will also free container users’ money and reduce cash flow problems which in turn will facilitate smooth flow of business and investment, added the Chief Executive Officer of Strategis (General) Insurance Mr. Jabir Kigoda.

Mr. Kigoda also mentioned, container insurance is a unique insurance product, one of a kind and Strategis Insurance is proud to be the first insurance company to introduce this idea in  the market and that they believe the product will give relief to container users.

The Director for Supervision from Tanzania Insurance Regulatory Authority (TIRA), Mr.  Abubakar Ndwata who was also a Guest of Honour representing the Commissioner of  Insurance said, the introduction of this product has proved that indeed Strategis Insurance is  a market leader. “I am calling on other players in the industry to emulate the same creativity  but come up with other different solutions to the market and not necessarily copying what  Strategis Insurance have done,” he stressed.

On another hand, KMJ Managing Director, Karim Jamal said container users have been waiting for this product for a long time and finally Strategis Insurance has come up with what to them is now a lasting solution to the problems they have been experiencing.

We have been depositing a lot of money when renting containers as there was no insurance cover for them but with this product most of us will now breathe as containers will be covered by this new insurance product,” he said.

Strategis insurance has been in the market for more than 20 years Afrika Wakawaka Managing Director, Sung Tao, said he is not going to think twice about the new product considering the expenses that they have had to incur when leasing containers.

“This product has come in the right time, and we thank Strategis Insurance so much as we will be able to save a lot of money and invest in in other projects hence supporting the Government in building the economy,” he said.

Strategis Insurance Group CEO Dr. Flora Minja extended her appreciations to all key stakeholders presented and requested them to take this opportunity with both hands because apart from reducing their operation costs it will also grow our economy.

‘’The container deposit has been flagged as a trade barrier by both private and public sector at national and regional level. We believe with this new product; you can now save a lot of money which can be invested in other areas, hence growing our economy’’ she added.

Strategis Insurance is a general insurance company that has been in a market for more than 20 years. The company has 5 branches in the country which includes Mwanza, Zanzibar, Arusha, Dodoma and Kisutu – Dar es Salaam. Other than Container Insurance, Strategis Insurance also offers other insurance products such as Motor Insurance, Travel Insurance, Property Insurance, Marine Insurance, Medical Insurance and many more.