1st for Women limited review 2022

1st for Women is an Insurance company that offers short-term insurance and long term insurance in South Africa. 1st for Women provides insurance solutions specifically for women. The company has won multiple awards because of its products that furthered the needs of women in insurance.

1st For Women insurance was founded in 2004 to provide insurance solutions that are specifically designed for women. 1st for Women products are women-centric rather than just being a repackaging of existing products.

1st for women is revolutionary in the sense that it has dared to understand and provide for the needs of women when it comes to insurance. Furthermore, the company revised the South African insurance statistics on women and has, therefore, brought to light solutions that resonate with women.

At its founding, First for Women conducted a study in which they discovered that women have a life expectancy greater than that of men by 7 years and that 65% of all HIV positive individuals are women and that women suffer most from domestic violence.

From this study, It was clear that South African women would need insurance that would specifically cater to women’s needs. Thanks to Telesure Investment Holdings, First for Women has managed to carry this mandate to date.

1st for women’s approach to South African women

1st for women relies on market surveys to provide its women-centric products. The company uses four approaches which are: to market, sell, and design products for women. We will look at the four approaches and we will find out why they work.

1st Approach

1st for women uses the direct-to-customer model to market their products. This model, 1st for women, uses digital platforms and its call centres to target women. With the utilization of digital platforms, the company is able to find clients on different social media networks and through search engines.

2nd Approach

1st for women uses solutions that focus on pain points. From the company’s research, it was concluded that the company would need to address women’s unique physical, emotional, and financial concerns. Thus, it launched the Guardian Angel app which provides roadside assistance 24/7.

Furthermore, 1st for women offers solutions that protect women and children, since it is considered that women are more connected to their kids. For example, the company’s dread disease cover protects women against cancer and pregnancy complications and also protects kids against cancer.

3rd Approach

1st for women regularly evolves their approach to marketing and branding to help them develop innovative products. The use of digital platforms is a good example of an evolving marketing strategy. Today, the company can conduct a survey purely online and use that survey to refine its products or add new ones.

4th Approach

The final approach that the company uses to market is through social impact. First for women has programmes that support causes which are closely related to their clients such as gender-based violence and cervical cancer awareness. These are all sponsored by 1st For Women Foundation.

Products from 1st for women insurance

1st for women offers short-term insurance and life insurance products to its customers. With a women-centric approach, the company’s products mainly cover the insurance needs of women. The company takes into consideration socio-economic issues women face and the day to day hurdles they go through on a daily basis when developing their products.

The company offers business, buildings, personal, life, vehicle, and portable possessions insurance. We will have a brief discussion of each of the products that 1st for Women has in store for its customers.

Vehicle Insurance

1st for women offers different types of car insurance depending on individual needs. The options include third-party, comprehensive car insurance, third-party only insurance, and theft and fire car insurance.

In addition to vehicle insurance products, 1st for women offers other vehicle insurance types such as motorcycle insurance, off-road insurance, caravan and trailer insurance, watercraft insurance, and better car insurance.

Home contents insurance

1st for Women offers comprehensive home content insurance. Should acts of nature, theft or loss or damage happen, it will make a payout. Pets are automatically included on the comprehensive cover at no additional cost.

If you are not keen on taking a comprehensive home contents insurance, you can take other insurance benefits in a singular. You can choose to take a handbag cover or fire and storm cover only from the home contents benefit.

Life insurance

First for Women’s life cover allows you to take out a life cover that suits your needs. You can take out a life insurance cover of up to R10 Million and add up to 10 beneficiaries. You can also have add ons on your life cover such as dread disease cover or disability cover.

Business Insurance

First for women offers business insurance that will cover several parts of your business. Cover for errors and omissions is available with other insurance covers that indemnify directors and Officers on certain dealings.

Designed specifically for businesses managed or owned by women, the business insurance from 1st for women will help your business whether small, medium or large.

Buildings insurance

You can get building insurance that covers your buildings up to the value of R2 million. Additionally, you will have Guardian Angel lifestyle assistance that will assist in emergencies.

Conclusion

1st for women is an insurance company that puts the insurance needs of women first. The company has come to understand the essential insurance needs of women, thus the company’s exceptional delivery services to women in general and those in business.

Its approach to marketing has won the company numerous awards which include two orchid awards for its marking.