Tag: Jamaica Money Market Brokers

New JMMB Her Wealth offering targets women

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A recent study conducted by the International Labour Organization identified Jamaica as one of the top three countries where ‘the boss’ is likely to be female. These statistics in the study Women in Business and Management, Gaining Momentum are not surprising, as women account for more than 70 per cent of students enrolled at the tertiary level in major local universities.

Climbing the corporate ladder marks a different, if not new, milestone for women, as they have stood the test of time, often seeking work/life balance — in the case of working mothers — even as they juggle varying roles while pursuing their dreams.

In support of the empowerment of women to achieve their financial goals, the JMMB Group has announced the introduction of JMMB Her Wealth, a complete package of financial solutions which includes investments, loans, savings facilities and insurance. As part of the customisation of the offerings to better cater to women, JMMB also provides a maternity loan, and coverage of handbag contents against theft as part of their motor vehicle insurance offering.

According to JMMB Jamaica Country Manager Kisha Anderson, women have shown their continued intention to attain financial success in Jamaica.

“We aim to facilitate and assist our clients to achieve their goals. This new offering is in response to a perceived gap that has been identified in the market, and research that suggests the need for financial institutions to deepen their relationship with women in order to meet their unique financial needs,” she explained.

Anderson says JMMB Her Wealth is designed as a special and remarkable vehicle for this purpose, and is the first of its kind in the market.

The JMMB Her Wealth packaged solution also includes a rewards programme that offers JMMB Her Wealth clients special access to discounts (or other benefits) of up to 20 per cent from partnering companies.

The partners selected to be a part of the JMMB Her Wealth Rewards programme are established organisations that offer support services that are typically utilised by women in their daily lives. These include auto servicing and maintenance; food; home care; medical services; counselling; beauty and spa services; computers and accessories; and children’s products and accessories.

Source: http://www.jamaicaobserver.com/magazines/allwoman/issues/New-JMMB-Her-Wealth-offering-targets-women_87598

Women Dominate JMMB Client Base

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JMMB Group has launched a suite of products designed especially for women in response to a trend observed over the years where a greater number of its clients are female.

Its client base is currently 59 per cent female, according to JMMB country manager for Jamaica Kisha Anderson at the unveiling of a new product, JMMB Her Wealth, at an event in New Kingston.

Under the new offerings, women will be able to access insurance, investments, loans and savings accounts, the company said, “from a financial institution that has sought to customise some of its financial solutions to empower women to achieve their financial goals”, JMMB said in a statement.

By tailoring products for women, JMMB said it positions the company to attract even more business from the demographic.

“Research indicates that women represent a huge potential market opportunity for growth across many industries, including finance where there are gaps perceived in the way financial institutions cater to women and their unique needs,” Anderson said in the company release.

PROFIT NOT MAIN OBJECTIVE

Speaking with Financial Gleaner at the launch, Anderson said that while JMMB anticipates a wide take-up of the new products, profit was not the primary objective.

“As we were thinking about this campaign, we weren’t necessarily thinking about a dollar figure. The objective of the campaign is us being intentional about reaching out to women,” she said.

“If you think about our revenues and profit, it’s a near 60/40 split in terms of the revenue we make from women,” said the JMMB Jamaica head.

JMMB Her Wealth will also feature a rewards programme for services typically utilised by women. The company has partnered with merchants who offer medical care, beauty, auto, and home and garden services to provide five to 20 per cent discounts, among others benefits for women.

To design JMMB Her Wealth, Anderson said focus groups and surveys were conducted over a 12- to 18-month period.

“Before we started the study, we had several focus groups where we asked the women about their needs and expectations of a financial house. We found out what their dreams are so we could figure out how we will help them towards those things,” she said.

“You find that women don’t generally trust themselves when it comes to financial products, so improving their financial literacy is something that we want to focus on.”

JMMB says it will be hosting quarterly financial education sessions aimed at women.

tameka.gordon@gleanerjm.com

http://jamaica-gleaner.com/article/business/20170120/women-dominate-jmmb-client-base