Fiji’s understanding of insurance improves – Fiji Times

June 28, 2017

A CAMPAIGN first of its kind initiated by the Reserve Bank of Fiji (RBF) in collaboration with Pacific Financial Inclusion Programme (PFIP) and the Insurance Council of Fiji revealed that Fijians’ understanding of insurance had clearly improved.

A report by PFIP revealed in January this year that the market feedback conducted by Tebbutt Research found following the campaign, that 81 per cent of Fijians (four out of five) surveyed reported they now thought more positively about insurance with 30 per cent now very likely to buy insurance in the next 12 months (compared with just 22 per cent before the campaign).

The report highlighted that the core messages from the campaign were clear — get insured, protect your future, prepare for the unexpected.

According to the RBF the campaign was a success with promising results.

“After just six weeks, the research shows that two out of three people interviewed had seen or heard of the campaign and that they felt that it was appealing, relevant and persuasive. Real stories of ordinary Fijians experiences with insurance resonated with viewers and listeners, with survey respondents identifying with the situations, fears and worries that certain events in life can bring. They understand how insurance can help in coping with these sorts of events. This is excellent news.”

And PFIP, regional inclusive insurance specialist Michael Carr says the research shows that the proportion of people who say they know and understand a lot about insurance has doubled from 14 per cent before the campaign to 29 per cent afterwards.

“This is an impressive change, but ultimately it’s about getting more people insured and protected.

“Changing people’s behaviour does not always happen quickly. More work on insurance education can build on the positive attitudes that we’ve seen from the campaign and convert this into more insurance purchases.

“Many types of insurance products are available. Their cost and usefulness, how easily they can be bought and the quality of insurer service will all play a part in driving greater take up of insurance”.

Insurance Council of Fiji chairperson, Sarah Jane Wild said the insurance community had been fully supportive of the campaign.

“We feel that this collaborative approach of working with the RBF and with PFIP on this type of awareness building event has worked very well.”

The Insurance Awareness Campaign lasted for six weeks.

A report by the Consumer Council of Fiji published on Saturday April 15, 2017 state that health insurance was a critical component of the Fijian health-care systems that can take pressure away from the public health system.

But for that to happen, Consumer Council of Fiji reported that it was vital that consumers had the confidence that the insurance policies they purchased would provide them with real value when the need arose.

And Fiji College of General Practitioners president Dr John Fatiaki said Government’s approach to health insurance needed to change. He made this suggestion during a seminar on health insurance in Fiji. Dr Fatiaki said he hoped to see Government moving from a public-based health care and share the burden with those in private practice and private health care, possibly through some form of public health insurance.

“I think the Government recognises that the private sector provides a significant component of health care and maybe some form of their funds should be directed towards subsidised public health insurance that shifts the burden from health centres to the private sector,” Dr Fatiaki said.

Source: Fiji Times Online