Join us for this episode with Tesfaye Migbar, founder of Ultimate Insurance Broker, who has 18 years of experience in the industry. We talk about what insurance really means, why it’s important, and how the business works. Topics include: -Why insurance matters for businesses and individuals -How reinsurance works -The role of insurance brokers and why people use them -Different types of insurance and how they work -Common misunderstandings about insurance policies -Challenges and unethical practices -The future of insurance and insure-tech Tesfaye also shares interesting stories from his experience and gives practical advice about how to deal with insurance. 00:00 - Introduction 02:21 - Opening 03:05 - Background 03:39 - Joining the insurance brokerage business 05:25 - Why do we need Insurance 09:01 - Re-Insurance 10:58 - Ultimate Insurance brokers 14:19 - First Clients 16:44 - Radio Show (Business be MIgbar) 24:09 - Ultimate Insurance brokers : Services and Process 27:44 - Why use brokers 37:03 - Marketing Strategy 42:13 - Forms of Insurance 45:41 - Hiring a professional 01:11:26 - Re-Insurance (deep dive) 01:15:22 - Insure-tech 01:19:24 - insurance Laws 01:21:28 - Specialised Insurance Companies 01:26:46 - Crazy Insurance stories 01:34:18 - Feasibility of package health insurance for employees 01:39:30 - Clarifications on insurance policies 01:41:42 - Insuring company valuations 01:43:17 - Red Flags in the Insurance sector 01:47:42 - Unethical competitions and practices 01:58:21- Run down questions 02:22:57 - Life wisdom 02:23:50 - Closing More from our partners: Dashen Bank Website: https://dashenbanksc.com Telegram: https://t.me/DashenBankEthiopia EthioTelecom Download Telebirr Remit App on Playstore : https://play.google.com/store/apps/details?id=com.ethiotelecom.telebirr.remit&hl=en&pli=1 Appstore: https://apps.apple.com/us/app/telebirr-remit/id6642675033 Website: https://www.ethiotelecom.et/ Social Links https://t.me/MERI_PODCAST https://twitter.com/MERI_Podcast https://www.instagram.com/meripodcast/ https://www.youtube.com/channel/UCzKNuQ80qNSpt2x-7dsazJg https://youtube.com/@Meriwoch?si=yIpJ3byprnVNwKi1 https://youtube.com/@mericlipset?si=wwa0KeQ_Nv2aPy9l https://www.tiktok.com/@meripodcast https://www.linkedin.com/company/meriethiopian/ Copyright Notice for Meri Podcast: All rights reserved. The content featured in this podcast is protected by copyright laws. Unauthorized reproduction, distribution, or modification of any portion of this podcast is strictly prohibited. For permission to use our content, please contact us at info@meri.et Thank you for respecting our copyright.