Effective communication about insurance, pensions key to making informed decisions
THE Insurance and Pensions Commission (Ipec) and the National Social Security Authority (NSSA) yesterday launched the 2024 Journalists Mentorship Programme as part of collective efforts to enhance the understanding and reporting of insurance and pension-related matters in Zimbabwe.
The Journalists Mentorship Programme is designed to equip participating journalists with the knowledge necessary to navigate the complexities of the insurance and pensions landscape.
Running from 2017, the goal of the programme is to equip the media with the necessary knowledge and skills to report on insurance and pension issues with accuracy, depth and clarity.
Speaking separately at the launch that was conducted online on Tuesday morning, Ipec Commissioner, Dr Grace Muradzikwa and NSSA acting general manager, Dr Charles Shava said the training programme continues to impact positively on the effective coverage of pensions and insurance issue through enhanced literacy and fostering a well-informed public.
“As journalists, you play a crucial role in shaping public perception and understanding of various sectors, including insurance and pensions. The insurance and pensions industry, with its complexities and technicalities, often requires clear, accurate and insightful reporting to help the public grasp its significance and benefits,” Dr Muradzikwa said.
“Your role in this regard can, therefore, never be overemphasised. Insurance and pensions are not just financial products, they are a vital tool for risk management and financial stability for individuals, businesses and the economy at large. They provide a safety net that protects against unforeseen events and helps in the recovery and rebuilding process as well as life after retirement.
“To this end, effective communication about insurance and pensions can empower people to make informed decisions, ensuring they are adequately protected.”
Dr Muradzikwa said insurance and pensions businesses were the cornerstone of financial security for individuals and businesses alike.
While this industry is crucial for financial security, Dr Muradzikwa said the perceived complexity about insurance and pensions leaves consumers vulnerable to misinformation and disinformation.
“Therefore, as journalists, your responsibility in conveying accurate, clear and comprehensive information about insurance and pensions is crucial.
“Over the past few years, Ipec has spearheaded substantial reforms in the insurance and pensions industry aimed at entrenching fair treatment of policy holders and pension scheme members,” said Dr Muradzikwa.
“Some of these reforms include the issuance of the Treating Customers Fairly Framework, Expenses Framework, Disclosure Guidelines, Currency Revaluation Guidelines, the Funeral Directive, the Directive on Governance and Risk and pre-2009 compensation regulations.”
The reforms have brought about new opportunities and challenges, making it more critical than ever for the media to stay informed and adept at reporting on these developments.
“I would like to emphasise the importance of accurate and responsible reporting. Misinformation or sensationalism can have far-reaching consequences, potentially undermining public trust and financial stability. Therefore, our goal is to foster a deeper understanding that will enable you to report on insurance and pensions with the nuance and expertise that this subject deserves,” said Dr Muradzikwa.
She challenged journalists to shed light on the challenges faced by policyholders and pension scheme members and the innovative solutions being implemented to address these issues.
“Your stories have the power to influence policy, educate the public and drive positive change. Over the next five months, you will engage with industry experts drawn from Ipec, NSSA and the insurance and pensions associations,” said Dr Muradzikwa. -chroncile
