Changing insurance through the persuasive power of stories

23 August 2017 FMI

FMI have a unique approach when it comes to life insurance. They believe your greatest asset is your ability to earn an income, and that all insurance benefits should be designed to protect this.

FMI believes that the best way to protect your monthly income is by ensuring that the cover you choose pays a combination of lump sum and monthly income benefits, and that you are not just covered for possible permanent risks, like death or disability, but also for temporary injury or illness.

#21Lives Campaign

FMI’s business is based on being able to step in when people’s lives have been affected by illness or injury. In honour of their 21st birthday, they wanted to capture 21 of the most inspiring client stories that they have been a part of over the past 21 years. So, in April 2017, 21 staff teams set out on a journey across the country to capture these amazing stories in 21 short-documentary films.

2016 was a bitter-sweet year for Denise – she celebrated her 60th birthday and the birth of her first granddaughter, but in the same week, she also received the earth-shattering news that she had breast cancer. Fortunately, her financial adviser understood the importance of income cover and convinced her to take out an FMI policy just 9 months before her diagnosis. Having her income covered for a guaranteed period allowed Denise to simply focus on her recovery, without any financial worries.

Motorcross fanatic, Damian took the brave step to start his own plumbing business when he was just 22 years old. As a young business owner, he was doing all the administrative and manual work himself. In 2016, he fell off his motorcycle and fractured his knee. Thankfully he had an FMI policy in place and was able to employ 2 people to keep his business going while he was unable to work for 8 months. Since his claim, his business has grown from strength to strength and he now employs 3 full-time staff.

At the age of 23, Marcelle started her dream business  and opened her own hair salon. She wanted to protect herself in case of an injury or illness and signed up for an FMI policy. Within days of her cover being accepted, and prior to paying her first premium, Marcelle was involved in a serious motor vehicle accident that resulted in the amputation of both her legs above the knee. Marcelle hasn’t been able to work since, but thankfully has FMI cover that will pay her 100% of her monthly income until the age of 70.


The issue FMI is addressing through their #21Lives campaign

There is a general lack of trust in the insurance industry and poor consumer awareness about what products are available in the marketplace, which has resulted in South Africans being dangerously under-insured. People would rather spend their money on coffee, expensive dinners and cell phones than on protecting their monthly income that makes it all possible, because they don’t connect to the need for cover. The insurance industry has failed to simplify an important message and complex products. FMI is committed to ending this cycle of complex conversations and product upgrades.

They recognise that people don’t want more products… they want a connection. They want a real solution to their problem. They want to be able to pay their bills no matter what happens to them during their lives. And sometimes the best solutions are the simplest ones.

Changing insurance… one story at a time

FMI acknowledges that financial advisers have an intrinsic role to play in helping people make the right decisions that will impact their lives so greatly in the event of injury or illness. And so, by sharing these 21 powerful stories with them, it will give advisers the tools to engage and connect with more people by creating emotional journeys in a motivating way. The stories don't only educate - they humanise insurance and simplify the message that often gets lost in our fairly complex industry. At their recent countrywide launches, FMI presented a compelling sales toolkit with 3 steps on how to use these powerful stories to connect, engage and ultimately change the way insurance is bought and sold.

Quick Polls


Do you believe this is the toughest period for financial advice in many years?


Yes, it’s hard to navigate the challenges and difficult to adapt. I’m struggling.
No, I have managed to navigate the challenges and have adapted. I’m good.
50/50. I just feel like whether we like it or not, we have to ready ourselves for change… be resilient and scale for the future. It’s not about survival of the fittest anymore but survival of the quickest. We just have to move on with life.
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