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Pension Weekly - Our 2020 Outlook On Covid-19 And Strategies For 2021

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2020 was a handful for the world. Our world was challenged with arguably the biggest pandemic in recent times. The impact of the pandemic could be felt at various levels, First, there is the effect on economies, both large and small, on companies like ours and then on individuals like our employees and members. With cases on the rise from the second wave, we take a look at the strategies we have put in place to mitigate the challenges the virus presents as well as our plans going forward.

At the heart of our operations before the pandemic was the digitization of our processes and that remains the same. Our ambition as a company, during and after this pandemic is to scale up by increasing uptake of digital channels. Devising interactive ways to keep in touch with our members was a critical focus for us as our business with our main target group runs on face-to-face interactions. We currently deliver products, services, support, and education remotely using mainly voice messaging and calls in the various local languages and have embarked on an aggressive campaign to migrate our existing cash customers onto our digital platforms. Additionally, we are increasing our outreach capacity through IVR and Robocall technology as alternative outreach channels. Our messages have been fashioned around the devastating impact of not having a financial cushion and the need to leverage on the opportunity COVID-19 presents for savings digitally. Our members also enjoy a reduced turnaround time from 72 hours to between 24 to 36 hours to ensure members have money ready to attend to their urgent needs. 

The importance of the team to the sustenance and growth of the company cannot be overemphasized. We have modified our business continuity plan to include a shift system that allows team members to work remotely without disruption to work schedules or targets whilst observing social distancing protocols. We have also taken a keener interest in the personal well-being of our team. Inasmuch as we are tackling old age poverty together, our health and safety come first and we ensure that every member of our team knows and understands this.

Despite all the challenges that the pandemic presented to a business model like ours, we are gradually transitioning from high touch to high tech, bringing solutions to members even in the most remote areas of the country. We will continue to develop and modify our digital processes to provide pension solutions and financial literacy education to people in isolated communities breaking distance barriers. The company intends to continue with the development of innovative channels through which our members can contribute to their retirement and consequently extend financial literacy to our members using behavioral science, human-centered design, data analytics, and artificial intelligence, to serve the target group. 

All measures employed during the Covid-19 pandemic are here to stay. We will continue to utilize the outreach channels to connect with our members and also strengthen our business model to allow employees to work from wherever they may be, safely.

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Edition 5 - February 2021

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