Metropolitan Life, Nazareth Baptist Church Form Strategic Partnership
Metropolitan Life, Nazareth Baptist Church Form Strategic Partnership. Metropolitan Life and the Nazareth Baptist (Shembe) Church announce a groundbreaking partnership that promises to advance financial inclusion and empower communities in South Africa. Officially launched on 18 October 2024, this collaboration will introduce, as a start, a customised funeral insurance product, specifically co-created to meet the cultural and religious needs of the church members.
Founded over a century ago, the Nazareth Baptist (Shembe) Church is one of South Africa’s largest and most influential religious movements, with millions of members. The Church, established by Prophet Isaiah Shembe in 1910, has long been a spiritual and cultural hub for its members, blending Christian teachings with African traditions. This distinctive cultural identity underscores the importance of religiously aligned financial products, such as funeral cover, that respect and honour the practices and beliefs of the Shembe community.
The collaboration between Metropolitan Life and the Nazareth Baptist (Shembe) Church transcends the scope of a typical insurance offering. This initiative represents a strategic effort to advance financial inclusion among underserved populations. By co-creating a funeral insurance product that respects the unique cultural practices of the Nazareth Baptist (Shembe) Church, Metropolitan Life is responding to a critical need—ensuring that religious values are not compromised in times of loss. Inkosi yamaNazarath Phinda Shembe, who represents the current leadership of the church, noted, “This partnership with Metropolitan Life is a monumental step towards fulfilling our objective of ensuring dignified burials for our members. Beyond individual benefits, this alliance opens numerous avenues for community development and upliftment.”
The partnership’s vision goes beyond financial protection; it is a vehicle for economic empowerment. The initiative will create employment opportunities for unemployed church members, providing them with training to sell insurance products and earn an income. This strategy fosters economic self-reliance within the community, providing a sustainable income stream that will positively affect households and contribute to local economies. David Mavukani, Head of Strategic Partnerships at Metropolitan Life, added: “We are particularly excited to partner with one of the largest and most influential churches in South Africa. This partnership is a testament to our commitment to embedding financial products in underserved markets and enhancing financial inclusion for all.”
The newly introduced funeral insurance product will offer flexible coverage and premium options, ensuring that church members’ unique family structures and religious customs are respected and adhered to. Features include the ability for male policyholders to cover multiple spouses and an unlimited number of children, alongside the flexibility to nominate several beneficiaries. This ensures that every Nazareth Baptist (Shembe) Church member can provide for the dignified burials of their loved ones, a deeply cherished value within their tradition.
The partnership is designed to create lasting impact. Beyond the initial phase, which will offer cash payouts for claims, Metropolitan Life aims to introduce comprehensive funeral management services that will assist bereaved families in conducting ceremonies that adhere to Shembe traditions. This holistic approach ensures that the product not only serves individual needs but also strengthens communal ties.
In addition to funeral coverage, church members will also contribute to a broader social mission. By opting into the Metropolitan funeral policy, members will support community upliftment projects such as establishing libraries and educational resources in underserved areas, and creating long-term employment opportunities, not only through product sales but also through various community-driven initiatives.
This dual focus on financial security and community empowerment sets this partnership apart. Metropolitan Life and the Nazareth Baptist (Shembe) Church are working hand-in-hand to foster sustainable economic development that benefits not just individual families but entire neighbourhoods, ensuring that job creation and educational upliftment remain integral components of the initiative.
Together, Metropolitan Life and the Nazareth Baptist (Shembe) Church are pioneering a future where financial products are more than mere transactions—they are instruments of social change. By addressing both the immediate needs of funeral coverage and the long-term goals of economic and social development, this partnership exemplifies a visionary approach to financial inclusion and community prosperity.
