Until recently no medical aid cover existed in Botswana that was specifically designed to cater for students. After going through a traumatizing experience of falling ill whilst still a student owner and director Kabo Letlhare–Wastikc explains that after he was diagnosed with TB during his second year 2 at the University of Botswana, he had to lie helpless at a government hospital with no option of seeking alternative health care facilities. Wastikc had no medical aid at the time and realized that he did not know of any student with their own medical aid. Establishing the medical aid scheme, he says, was therefore prompted by practical ramifications and observations surrounding student’s health
concerns. An idea then sprung up: the need to cater for students
who might be in need of medical attention, as they say, ‘every experience is lesson, every loss a gain.’ The motivation behind the enterprise was to change the situation for University going students and start a medical aid they could afford, said the Director of Etudiant, Wastikc.
Etudiant is the only medical aid in Botswana which caters specifically to students health needs. It faces little or no competition from any of the other medical aid providers as it is the only medical aid that targets students. Although they bear the brunt of costs unlike with other medical aids where students enroll under parents or guardian memberships by virtue of being s student. The company was founded in 2010 and has been operational in the country for seven years now. Letlhare- Wastic assertively told The Business Weekly & Review that their uniqueness lay in what they cover as they were exclusively for students with a target market of 17-24 years, an entirely different model to other industry players who focused on a different market segment. “We are a specialized medical aid for students. We are the only medical aid in Botswana which is strictly for students. Our cover includes, optical, dental, and acute care.’’ The student oriented cover is counted amongst the leading medical aids societies in Botswana among the likes of Pula Medical Aid Fund, Botswana Medical aid Society (Bomaid). The Director revealed that they are able to generate positive growth as they have a good number of students enrolling, many of whom that were not previously covered. “Without revealing our total membership, we have a generous number as many students’
parents are not in any health cover. A majority of students are therefore not covered as dependents in any cover. This gives us a great opportunity to cover them,’’Wastikc said.
According to the youthful Director who is only thirty three years old, he has been in Fund Management in the non-bank financial services sector his entire working life after graduating in mechanical engineering when he set up his company in 2010. Additionally he disclosed that , “Insurance business is premised on risk. The lower the risk, the more the profits.’’ He is of the view that due to student’s young age they are of low health risk, as compared to the older segment of the population, the traditional focal point for medical aid schemes. The scheme also encompasses a loyalty rewards provision for graduating clients who have never made a claim, and have paid monthly premiums without fail during their schooling days, comprising of a pay back of 80 percentage of contribution. The reward is only availed to those who have graduated and have paid monthly fees without default. “This was put in place to encourage graduation, not dropping from school,’’claims Wastikc.
When asked if government reduction on the number of students progressing to tertiary education had a negative bearing on their operational basis he said, “It is because if you have a large pie and you can only bite a quarter of it, and the pie is reduced, the quarter you are now biting is less that the one you used to. We can not control Government policy.’’ The company says it will rather opt to diversify and globalize than point fingers. Etudiant reiterated their stance as an entity that is not seeking to exploit student’s needs but rather to ensure that students in desperate needs are catered to. They have assisted over 2000 students who purchased spectacles through their cover, over 500 dental cases attended and countless others. In their search for growth into the regional market the Managing Director concluded by saying they wanted people to know about their existence, “We would like millions of people to know of us. At the moment we target schools for immediate sales conversion, more than trying to build awareness,’’he said.
