Minki Rasenyalo, Executive Director of Doves Group
Doves Group has successfully concluded a groundbreaking underwriting partnership with African Unity Life. This strategic collaboration marks a significant milestone in Doves Group’s journey towards revitalisation and growth, following challenges posed by the curatorship of 3Sixty Life.
Minki Rasenyalo, Executive Director of Doves Group, says: “This partnership with African Unity Life is not just a business strategy; it is a leap into a future where we see our company not only recovering from the loss of 3ixty Life but also thriving.
Our combined efforts will focus on selling both short and long-term policies, significantly bolstering our client base. This move is essential for our growth and will play a key role in sustaining our operations, especially amidst the ongoing curatorship issues with our stablemate 3Sixty Life currently under curatorship and which underwrites our policies.”
Addressing the issue of curatorship, Rasenyalo says: “The curatorship of 3Sixty Life has been a complex and unfair challenge. How can a business be placed under curatorship for 24 months? Despite our best efforts and repeated outreach, there has been no movement in resolving this situation, causing understandable frustration. However, the partnership with African Unity Life is a proactive step in ensuring that Doves Group continues to operate effectively and meet the needs of our clients during this period.”
Doves Group runs a national network with more than 160 branches in all nine provinces, providing insurance, funeral services, and related products.
African Unity Life is a licensed life insurer and an authorised Financial Services Provider insuring more than three million lives.
The company has grown its business through partnerships with reputable intermediaries and distributes products through various channels, which include broker networks, insurance administrators, funeral parlour networks, church networks, employers (SMMEs), and underwriting managers.
The alliance between Doves Group and African Unity Life promises to bring a host of benefits to both companies, their stakeholders, and customers. “Together, we are looking at saving seven hundred permanent jobs and supporting eight hundred agents. Our refurbished product offerings are tailored to current market trends, ensuring that our clients receive the best possible service,” adds Rasenyalo.
Over the past two months, the partnership has been meticulously developed and is now firmly established. Key milestones have been set, including achieving 80 percent of the target by the end of February and aiming for seven thousand policy sales per month. “We are committed to not only sustaining our business but also propelling both books to new heights,” states Rasenyalo.
This national partnership will see the integration of efforts from both companies, with joint teams and shared resources. Agents will be selling products allied to both Doves Group and African Unity Life, under a central binder agreement. Looking ahead, our long-term vision is ambitious yet achievable. “In two years, we anticipate our policyholder base to return to its former strength of three thousand policyholders,” says Rasenyalo.
Doves Group’s journey through challenges and its emergence into a phase of growth is a testament to its resilience and commitment to its customers and employees. This partnership with African Unity Life is not only a strategic decision but a beacon of hope and assurance for all associated with Doves Group.