Malawi: Wemas, a new local company, offers unmatched medical insurance packages
There is a newcomer to the block who has become a force to be reckoned with in the country’s medical insurance landscape. It responds to the name, Wella Medical Aid Society (Wemas)
The company has become the first medical insurance company in Malawi to introduce biometric technology which has helped the company run a paperless claims system in Malawi since its incorporation last year.
Wemas was incorporated on March 20, 2020 but officially began operations on April 1, 2020.
This means that the business has now been operating for exactly one year and three months.
Company CEO McDonald Wella said in an interview with the Nyasa Times that over the past year the company has also introduced many other innovative products unrivaled in the Malawian market.
In addition, Wella said it has already signed contracts with more than 150 hospitals and pharmacies across Malawi.
âWe were the first medical system to switch to biometrics in Malawi and so far we are the only medical system to use biometric technology.
âTechnology has helped us run a paperless claims system for the first time in Malawi,â Wella said.
He added, âWe are also the only medical plan to offer cash back rewards to our customers as a thank you for their sponsorship. We have been very innovative and creative in our products and services.
Wella said so far that the company has succeeded in fully establishing its head office in Lilongwe and a branch in Blantyre, and added that its membership numbers have recently reached remarkable levels on a daily basis “and we are overwhelmed by the response that we have received. so far. “
When asked to comment on what motivated the company to enter the medical aid business, Wella said Wemas discovered there was a huge uninsured gap in medical insurance and that their ultimate goal was to close such a glaring gap.
He also lamented that in Malawi people are not keen on purchasing medical insurance and that their business is now finding more innovative ways to insure everyone.
Regarding their future plans, he said that Wemas plans to establish a giant medical insurance company in Malawi within the next three years, a recognizable brand in the medical insurance market.
He added that the company’s 10-year vision is to emerge a leading medical program in Malawi by 2030.
Addressing business challenges, Wella said the company began operations at the height of the Covid-19 pandemic which he said slowed its progress early on.
âBut like any new business in the market, the major challenge is the low level of trust. However, we are seeing an increase in trust levels as more and more people come to sign up and start experimenting with our programs. medical, âhe said.
Some of its insurance packages so far include a corporate medical plan designed to provide quality health care to businesses; Retiree Medical Plan, which was developed to meet the health care needs of the elderly as well as Family Plan which covers family health care at an affordable monthly premium.
In Malawi, most medical aid schemes do not cover people over 55 and according to Wella, such a situation poses a problem of access to care for such a group of people who need care more than anything. other age group.