BSP Life and Tower Insurance have announced a joint promotion to encourage more people to use insurance products to mitigate their risks.

Responding to the Reserve Bank of Fiji’s Financial Services Demand-Side Survey report released last month, the two leading insurers, collaborated on a first-ever joint campaign.

The campaign is focused on raising awareness of insurance and its benefits as a way to encourage more Fijians to protect themselves and their assets.

The results of the survey show that the majority of Fijians have low levels of understanding about insurance, the different types of insurance and 50 per cent thinking insurance is not needed.

These results are factored into an awareness campaign where BSP Life and Tower will be leveraging the reach of their customers.

BSP Life’s Managing Director, Michael Nacola says without the protection of insurance, people cannot absorb shocks and the results are often devastating with long term suffering.

Tower Insurance’s Country Manager, Joseph Magnus says this joint promotion is the first step in the partnership between the two insurers that is aimed at increasing insurance uptake in Fiji.