Suite 11Z | 320 Dr Pixley KaSeme Street | Durban | 4001
Office No: 031 301 5624 | Fax: 086 411 6375
Nemihle Financails Pty (Ltd) is a Durban based Financail Service Provider that caters for the needs of the lower and middle market government sector.
Mlungisi Jerome Hlophe has 100% ownership of the brokerage. His experience commenced from 2001, having started as an advisor at African Life. He then moved to Old Mutual in 2002, when he also worked as an advisor. In 2004 he started at Carlton Brokers as a Branch Manager, until 2008 when he operated his own brokerage.
In 2014 Mr Hlophe decided to expand his business and recruit agents. The business currently has 5 advisors. Refer to the organogram for structure of the business.
Mr Hlophe has the necessary FAIS qualifications, including RE1 and RE5 and is licensed to market to following Category B2 and Long Term Insurance Category C.
A business entity change in 2017 also resulted in a name change from Mlungisi Jerome Hlophe trading as MJ Hlophe White Brokers to Nemihle Financials Pty (Ltd).
The quality of the business written is of a very high standard as reflected in a persistency rate of 86.52%, 4 Month NTU rate 11.04% and a 15 Months NTU rate of 10.14%.
TARGET MARKET
The business operates in the lower to middle income sector where there is a need for basic insurance. This provides cover for death, disability, dreaded disease, retirement and investments.
In terms of risk appetite, this sector is risk averse hence products mainly with guarantees are marketed. Our market consists mainly of the govt sector, with the majority being the education market. The average age of our clients ranges primarily from 35 to 50. Our clients are mainly sourced from the greater Kwa Zulu Natal rural community. To adequately support this geographical spread, we are soon to open a new branch in Port Shepstone.
A drive to operate in the commercial and private sector is underway. Full needs analysis and records of advice is always completed as per regulation and filled.
The business plans to expand to more middle market products as part of a 5 year strategy. In relation to the above, proper vetting of reps, who have the necessary qualifications to operate in this market will be employed. The business has been run in a professional manner and has shown profit every year i.e. 10 years.
The business operates primarily in the funeral market, which consists of the following sub-categories long term insurance category A, long term insurance b1,long term insurance category B2 and long term insurance category C.
• Knowledgeable friendly staff that can empathise with our clients’ needs and circumstances especially during a time of loss
• Polices that meet or exceed their expectations of our customers, and that are affordable, available and understandable.
• Polices and endorsements are delivered timeously and with minimal errors
• A commitment to conduct annual reviews on clients, we believe personal contact and service is the cornerstone of our success.
Currently operate with two business partners Old Mutual and Sanlam, with Sanlam being the major partner. Other strategic partners will be sourced to venture into the higher advice space
We establish good working relationships with all our strategic partners with open door polocies with the management heirarchy.
Our Compliance officer plays a vital role in ensuring that we adhere to the principles of good governance.
We offer wide range of funeral plans-on standard and comprehensive range and varies according to clients needs. Funeral plans starts from as little as R80- per month depending on ages and covers
We have different types of savings from as little as R10 per month. We believe that savings becomes a habit so the sooner you start the better. Speak to us to day.
Life plans starts with a minimum of R80 pm depending on the cover. We are here to assist you in every way possible.
Contact our Client Care Centre for support, seek advice from a financial planner, or fill in a quick enquiry form and we'll get back to you.