Founded by young banking and insurance executives who boast a thick record within the industry, Tlalane Ntuli (COO) and Nkazi Sokhulu (CEO), the company was born out of passion to nourish and bring life to the world of credit life insurance.
Tlalane and his team throwed their weight behind the national Stokvel roadshow in Diepkloof –Soweto early this month, to share ideas with thousands of stokvel community members on what what is Yalu?
And yes, they had a full day as they had to field questions from attendants, and they did with diligent.
“We aim to become the source of knowledge and change that enables customers to know better and arm themselves with the tools to make better credit life insurance choices,” commented Tlalane post the presentation.
Asked if it was a business decision to be part of this exercise- without hesitation- she remarked yes, considering the questions they had to respond to and the information on Yalu that Stokvel members wanted to learn more about.
“These are kind of platform that gives us leverage on the brand and interactions with community since most of them are our clients or target market.”
Are you really paying a competitive and fair rate for the actual risk you represent to the bank, I ask?
If you currently have a personal loan, you will have credit life insurance which banks require as security for your debt should you become unable to service your loan repayments due primarily to death, disability or retrenchment.
What you may not know is how much you are paying for your credit life insurance, what it covers, how to claim, and whether you’re paying a competitive and fair rate for the actual risk you represent to the bank.
Most crucially, you may not be aware that you can shop around for the best credit life insurance offering and that you are not obligated to take this cover with the loan provider. If you have an existing loan, you can change your credit life insurance to a provider that offers better rates and benefits without any repercussions as long as there is no break in cover, continued Tlalane, who is also the co-founder of Yalu, alongside Sokhulu.
Yalu, is a Zulu word isiyalu- that means the source of a river.
Posed to her what are future projections of the company, Tlalane indicated that firstly, to increase the numbers of the insurers and secondly to ‘break-even’.
Ed Note: The third instalment of the National Stokvel roadshow has been scheduled for Tzaneen in Limpopo on April 11, at the NkowaNkowa Community Hall.
Image (Tlalane Ntuli, COO & founder at Yalu, giving presentation at the national Stokvel roadshow in Diepkloof, Soweto.)
