BOTSWANA TEACHERS UNION MEMBERS MEMBERS BURIAL SOCIETY HOLDS A SUCCESSFUL AGM
* New benefits enhancements cements BOTUBS’
Botswana Teachers Union Members Burial Society ( BOTUBS) held its Annual General Meeting ( AGM) in Ghanzi over the weekend under the theme “Reflecting on the past, building a better tomorrow”. BOTUBS members attended the highly interactive meeting. The objectives of the AGM was among others, for the society members to adopt the audited financial statements and to receive and discuss the Society's Annual Report.
BOTUBS Chairperson, Ms. Tshepo More said they convened for the AGM to promote their newly formed Society. She praised her executive committee for their commitment to ensuring that BOTUBS continue to abide by good corporate governance and best practices in pursuit of its vision. She said in addition her committee guided BOTUBS to comply with the Registrar of Society's requirements of hosting an AGM, which is one of the activities which ensure good governance in the organization. More said as part of their future plans, the committee has developed a three year strategic plan which seeks to make BOTUBS a leading and preferred burial society within the education sector. “In our effort to increase our operational efficiency, in the near future we intend to form sub committees as per clause of the constitution article 5.3.3.8.”
She said BOTUBS offers “an affordable product which I stand proud to say it's one of the best in the market.” She revealed that for the longest time their members were pained by the parents and parents- in- law cover limitations. In response “we saw our society bringing in a lot of desirable enhancements which gave high benefits to the available members at a competitive rate. We should be proud to have such a unique product and must jealously protect and support it.” She added that as they run the product under BOTUBS, they strive for the delivery of services in a dignified and professional manner through their management company, More Power Investments ( MPI) and their insurance broker, Chartered Insurance Brokers ( CIB).
According to BOTUBS Secretary Thapelo Ookame, in February 2021 a resolution was passed by the general membership to dissolve the BTU Funeral Fund and to have all assets donated to the newly formed BOTUBS. The transition, he said, not only brought about changes in the operations of the scheme but also product enhancements. “There was an increase in the benefit claim of existing packages at no extra cost to the client. The scheme also saw an addition of two more options under extended family and three more under parents' dependents respectively.” The funeral scheme was enhanced with main member and spouse benefits by
P5,000 across board. Existing parent benefits were increased by P2500 across board. The benefit was increased by P2500 and the sub- policy member and spouse benefit by P5,000. February 28, 2022, 11,496 members have fully transitioned to the Society with more members He implored with members to transition from the Funeral Fund to the Burial Society as the ultimately result in termination of their funeral policies.
Ookame told the AGM that 2021 was a difficult year as COVID- 19 burial protocols put pressure claims turnaround time thus defeating the society's aim of timeous delivery. “In the year recorded an unprecedented total number of 1123 claims amounting to P22,149,000. Of these main members, 116 were spouses, 53 were children, 557 were parents and 214 were extended revealed that main members took the largest share of costs at P8,436,500. Ookame further COVID - 19 contributed immensely to claims and as a result the performance of the scheme pressure during the year under review. According to his report, COVID- 19 pandemic P11,298,000 with 406 deaths.
The guest speaker, Ms. Reason Nyamambi, Executive Head of Sales and Distribution at Hollard disclosed that the AGM theme was aligned with Hollard's purpose which is to enable more people secure a better future. She said as Hollard they bring that very purpose to the relationship over the years with BOTUBS and BTU families. She pointed out that their relationship importantly on a common goal of meeting the needs of their client, BOTUBS. “The needs BOTUBS are at the forefront and dictates all our actions, interactions and strategies. Our
CIB and MPI is guided by what BOTUBS stand for. That is why when the cry of our esteemed before us with regards to the cover amounts, an increase of covers was granted at no additional said the enhanced benefits were maintained despite the COVID- 19 pandemic and as Hollard ways to continuously pay the claims on time in response to the sensitivity of funeral proceedings COVID period. “It was Hollard's way of extending its support to our BOTUBS family… and through kept its promise, maintained the rates and created ways to ensure that our service to the seamless.”