By: Liepollo Tsekoa, Head of Branding and Marketing at LNIG Hollard

There are signs that young people are becoming aware of the benefits of being insured and LNIG Hollard will be using their partnership with SesothoFusion star Sannere (Relebohile Monapathi) to inspire a new generation of young people in Lesotho to embrace insurance.

Liepollo Tsekoa, Head of Branding and Marketing at LNIG Hollard says they studied the local market to find out who could help them push the company forward to reach a younger audience and think that using a young and relatable artist like Sannere will allow them to connect insurance with young people on a deeper level.

Lesotho’s insurance market has seen significant growth over the years and is projected to reach a gross written premium of USD 750 million in 2024, according to Statista Market Insights. Non-life insurance leads the way, with USD 440 million expected this year.

Tsekoa explains, the digitalisation of the sector is a primary contributor to the increased uptake of insurance in Lesotho.

“It’s about convenience, speed, and ease of use, and digital platforms have made it possible to offer insurance products that meet these needs. Young people want affordability and flexibility,” she explains. “We have designed insurance offerings for this tech-savvy generation, and Sannere is the perfect voice to make these offerings relatable to a young audience.

“If we want to make insurance part of their everyday lives, we need to make it flexible and accessible,” Tsekoa says. “So, an innovative insurance solution called Ecosure has been developed, in partnership with Econet Telecom Lesotho, based on mobile technology to deliver insurance more seamlessly and conveniently.”

Young people want seamless, efficient service that suits their on-the-go lifestyles. And they are looking for insurance products that fit their budgets. Innovative mobile technologies help with that.

There is a shift towards financial security among young people through insuring assets like motor vehicles, Tsekoa notes, but when it comes to life insurance, the Gen Z market tends to buy cover for their family members rather than for themselves.

“We want to reshape this perspective about insurance and show young people that insurance can be used for diverse purposes to enable them to create better futures for themselves and generations to come.”

It will need greater financial literacy and a better understanding and appreciation of insurance among young people. “We will be using Sannere and our Market Storm series to do that,” says Tsekoa. “We want to show the youth how insurance can secure their future while addressing their immediate interests.”

The partnership is more than just a professional collaboration, says Sannere. He has a personal reason for wanting to spread the message. Growing up in rural Lesotho, he didn’t have the financial literacy to plan for emergencies and never understood the significance of insurance until personal tragedy struck.

“When I lost my mother at a young age, the financial burden of her burial made a lasting impact on me,” he recalls. “I vowed never to let my loved ones go through the same experience as I did. Now, I can share my story and use my platform to make insurance relevant to young people, showing how it can offer peace of mind and security,” he says.

Being insured is vital to someone in his line of work, Sannere says. As an artist constantly on the move, attending concerts and events, he often has to travel on a tight schedule, which can increase the risk of accidents on the road.

“Having motor insurance has been a game-changer, offering me the financial protection I need and, more importantly, peace of mind. Whether I’m racing against time to get to a gig or simply navigating busy streets, I can rest easy knowing that I’m covered in case anything unexpected happens,” he says.

The music industry is unpredictable. You have to deal with situations that can escalate unexpectedly, from unprovoked hostility to other unforeseen risks. “It's comforting to know that with the right cover, I'm protected from these potential dangers, allowing me to focus fully on my work without the constant worry of what might go wrong. My studio equipment, which is one of my most valuable assets is also insured against theft or damage, and all this gives me peace of mind, allowing me to create without the looming fear of setbacks.”

The younger generation prioritises lifestyle over financial security, and that’s a challenge Sannere acknowledges, but LNIG Hollard has designed products that align with these priorities, such as travel and other lifestyle cover insurance, combined funeral and savings plans, and tailored investment options.

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