The partnership between Hollard Namibia and NamPost has expanded insurance coverage to around 150,000 policyholders, covering approximately 160,000 lives across the country over the past decade.
Hollard Life Chief Executive Officer Andre Vermeulen said the collaboration has played a central role in the company’s strategy to improve access to financial protection for Namibians.
Speaking at the launch of Hollard’s new Gap Cover product, Vermeulen said strengthening partnerships has been a key pillar of the insurer’s growth strategy.
“The first pillar of that strategy was to strengthen our partnership business, which has been one of the cornerstones of our success. At the time, one of our biggest partners was NamPost. Over the past decade, that relationship has grown significantly. Today, we have around 150,000 policyholders covering approximately 160,000 lives,” he said.
The partnership has enabled Hollard to expand insurance access through NamPost’s national footprint, reaching communities that may otherwise have limited access to financial services.
Hollard is also broadening its product offering beyond traditional insurance products to address emerging financial risks faced by Namibians.
As part of this effort, the company has introduced a new gap cover product aimed at helping policyholders manage medical expenses not fully covered by medical aid schemes.
Broker Consultant Geanethe Haikali said rising healthcare costs have increased the need for products that assist policyholders with out-of-pocket medical expenses.
She said the new gap cover solution was developed in partnership with medical aid providers and industry stakeholders to help bridge the difference between medical aid payouts and the actual cost of treatment.
According to Haikali, Namibia currently has around 183,000 medical aid members, many of whom at some point have had to cover additional medical costs themselves.
“The emotional strain of a health crisis is often compounded by the rising cost of medical care. At the same time, there has been no open-market gap cover product in Namibia to help people deal with out-of-pocket medical expenses,” she said.
“Currently, approximately 183,000 Namibians have medical aid. At some point, many of these members have had to pay medical costs from their own pockets, often at the most inconvenient and stressful times.”
Hollard said the introduction of the product forms part of its broader strategy to develop practical financial solutions aimed at addressing real-life challenges faced by Namibian households.
