Browsing by Author "Tshamano, Victor"

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    An insurance business for the uninsured in South Africa
    (University of the Witwatersrand, Johannesburg, 2022) Tshamano, Victor; Stacey, Anthony
    Insurance can be defined as a method by which interested members of a society band together and collect funds to pay potential losses that could suffered later by members of the group (Reavis, 2012). The main objective of this study was to determine the feasibility of an insurance scheme for the underprivileged. Following the example of previously conducted research studies in this field, the researcher adopted the mixed methods research approach and employed the case study research design for the purposes of the study. This research targeted a select geographical area, Kriel Town in Mpumalanga, wherein the employees of three ESKOM power stations located in the area were selected to be the population of the study. Questionnaires and interviews were used as data collection instruments for this purpose. Of the interviewed respondents who were contracted, there was a common challenge of not having permanent contracts, and with the risk of losing their job at any moment, they are not able to make stable decisions regarding their health insurance. Related, the permanently employed individuals noted that they did not earn enough money to allow them the luxury of having enough to join mainstream medical aids. Some common worries that came up centered on the poor services received from public health care centers On the basis of the findings of this study, the researcher can conclude that the proposed venture, AE Insurance has a good market for penetration, and that its value proposition is good enough to warrant the initiation of such a scheme. While the initial target of the venture would be the low-earning contracted workers of the power industry in Mpumalanga, this can be expanded upon first establishment and make ground towards the rest of South Africa, as this customer profile is prevalent through all provinces and the needs of the people are likely similar across the nation