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From Covid Chaos to Insurance Triumph: The Story of Diaspora Meds

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In 2020, when the world was gripped by the unprecedented challenges of COVID-19, an extraordinary opportunity was born. Tapiwa Virima, the Managing Director and Founder of the South African-based Diaspora Meds, took the plunge into the uncharted waters of healthcare and insurance, creating a company that would revolutionize how Zimbabweans around the world supported their loved ones back home.

The concept for Diaspora Meds was simple but impactful. During the early days of the pandemic, essential medications were in short supply in Zimbabwe, and people in the diaspora were struggling to send critical care packages. Tapiwa and his team seized the moment, stepping in to bridge the gap by delivering much-needed medications directly to Zimbabweans, no matter where they were — from the UK to Ireland, the US, and beyond. As demand surged, it became clear that the company had struck a nerve. Diaspora Meds was more than a medication delivery service; it was a lifeline for those separated from their families by borders.

“We got so much traction in the market that we delivered medications to clients as far as the UK, Ireland, and America. And you know, that was when there was a shortage of supplements and all sorts of healthcare products. Having seen the demand and the amount of money clients were paying, we decided to turn this into an insurance product and offer medical aid,” Tapiwa recalls.

From Investment Banking to Insurance Visionary

Tapiwa’s journey into the healthcare and insurance sector was not a typical one. With a background in investment banking, he honed his skills in asset management, corporate finance, and dealmaking before transitioning into the mining sector. However, his entrepreneurial instincts were always at the forefront.

While working as a principal dealmaker in the mining industry, Tapiwa realized that his true passion lay in solving problems on a larger scale. He recognized that there was a gap in how Zimbabweans abroad supported their families back home in terms of healthcare. COVID-19 provided the catalyst, and Diaspora Meds was born.

“I’m an investment banker by profession. I studied for an honours degree in banking at the National University of Science and Technology. I did my internship at Bank ABC, where I worked in asset management and corporate finance. Later, I worked for Tetrad Investment Bank as part of the project team. I also moved into treasury and was an economic analyst at Tetrad Investment Bank,” said Tapiwa.

“After that, I moved to South Africa and worked in the mining space as a dealmaker. But predominantly, I’ve always had the intuition to be an entrepreneur at heart. I think the assurance in a financial sense has always been my passion. However, COVID really presented this opportunity.”

The Spark that Ignited the Insurance Journey

But Tapiwa saw something more. As they navigated the growing needs of their clients, one question began to emerge: Why not provide a comprehensive solution that would ease the financial burden of healthcare for Zimbabweans living abroad who were already sending money home? These individuals were spending significant amounts on healthcare support to Zimbabwe, but the costs were escalating, and some faced extortion in the process.

Thus, Diaspora Meds evolved. Instead of merely filling medication gaps, they pivoted to create an insurance product tailored specifically for the diaspora. Through strategic partnerships with underwriters, the company launched a medical aid plan — a lifeline for Zimbabweans living across the globe. The result? A market response that exceeded expectations, with clients spanning over 60 countries, including major markets like the UK, South Africa, the US, Canada, Australia, and New Zealand.

The platform was now not only delivering medication but also offering Zimbabweans a comprehensive suite of insurance solutions. Diaspora Meds had transitioned from a simple delivery service to a global insurance provider catering to the growing demand for affordable healthcare, funeral plans, and other life-related coverage for families back home.

“So, when we started the medical aid business, we looked for an underwriter to help us develop a diaspora product plan that we could distribute across the globe to Zimbabweans living abroad. To date, we’ve got Zimbabweans in more than 60 countries, with the UK being our biggest market,” Tapiwa says.

Expanding Beyond Medical Aid

The company didn’t stop there. Diaspora Meds leveraged its growing database of clients to explore additional insurance services. Through partnerships with trusted providers like Old Mutual and FBC, the company began offering products such as funeral cash plans, hospital cash plans, and ambulance services, providing financial support to Zimbabweans in the event of illness, hospital stays, or even the tragic loss of a loved one. These solutions were designed to alleviate the often-crushing burden of medical bills and other unforeseen expenses.

“The business has evolved over time. With the insurance business, we’ve aggregated a large database of Zimbabweans across the world, and we’ve been able to leverage that to offer more insurance solutions than just medical aid. We’re also offering products across the globe. In addition, we’ve got other innovative products underwritten by financial service providers like FBC,” Tapiwa reflects.

Building a Holistic Healthcare Ecosystem

But the ambition didn’t end with offering insurance products. Diaspora Meds recognized the need for a one-stop healthcare solution, so they began working on launching their own medical center. This ambitious move aims to provide end-to-end services, from insurance coverage to actual medical consultations and treatments, all under one roof. By doing this, they aim to reduce the cost of healthcare and increase transparency for their clients.

The vision is clear: Diaspora Meds is not just an insurance company, but a full-service platform that delivers affordable, high-quality healthcare solutions to Zimbabweans, no matter where they live. They broker medical services for those who don’t yet have insurance and are committed to making healthcare more accessible, transparent, and affordable.

Today, Diaspora Meds is not just an insurance company but a transformative force that connects Zimbabweans around the world with the best healthcare solutions for their families. With over 5,000 clients in their portfolio, the company is quickly expanding, looking to replicate its success in other countries with large diaspora populations, such as Lesotho, Nigeria, and South Africa. Their ambition is to create a model that allows immigrants from various nations to easily access life and medical insurance for their families back home, offering peace of mind no matter the distance.

“We’re working on expanding our footprint, not just nationally, but across the world. We already have other projects running, including brokering for countries like South Africa. For example, we’ve been doing a legal aid program for the Road Accident Fund in South Africa,” Tapiwa says.

Tapiwa also believes in the business philosophy that “collaboration is the new competition,” a principle that resonates deeply in today’s interconnected world. Even competitors can find value in working together by pooling resources and expertise to create more expansive and competitive offerings, benefiting all parties involved.

The philosophy is simple: success leads to recognition. Consistently performing well in the market naturally attracts partnerships and collaborative opportunities. This business outlook underscores a forward-thinking approach, aiming to open doors and expand through partnerships, not just locally but globally.

Navigating the Challenges of Entrepreneurship

Every business faces its own set of challenges, often tailored specifically to that business. One of the primary difficulties that Diaspora Meds faced was selling the concept and acquiring clients. This proved to be the most challenging aspect, yet the satisfaction of everyone involved made it worthwhile.

“Obviously, the first difficulty is selling the concept and getting the clients. That’s been the most difficult thing, but I’m happy we’re all happy. You know, they say in economics that there’s what’s called idiosyncratic risk that you can’t control. That’s the macroeconomics you can’t control in terms of risk,” Tapiwa says.

For those with limited budgets considering venturing into entrepreneurship, especially in health insurance, Tapiwa advises that waiting for perfect conditions — whether in terms of finances or readiness — can delay progress indefinitely. Ideas, like a baby, develop over time. The best time to start is always yesterday, because as one embarks on a venture, ideas naturally begin to take shape and evolve.

“One of my favorite verses is Ecclesiastes 11:4. It says that farmers who look at the clouds never sow, and those who look at the winds will never get on the plough to plough. Basically, the message is that you can never be fully ready to start anything in life. If you wait for the opportune moment to be ready or to have enough money, you’ll never have enough money to start. So, I’d say the best time to start is always yesterday for any entrepreneur.”

Entrepreneurship, especially in the health insurance space, is challenging, but with resilience, focus, and a commitment to solving real problems, opportunities will unfold. Ultimately, entrepreneurship is about taking opportunities as they come — both locally and globally.

“We live in a beautiful country with a lot of potential. It’s about taking the opportunities that you see, both from the inside and outside. Sometimes, being on the outside gives you the opportunity to see the opportunities inward,” Tapiwa concludes.

Now, in the competitive space of medical aid, new players are emerging, and the lines between service provision and insurance are blurring. The business intends to capitalize on this shift, including plans to open more medical centers.

In the face of global disruption, Diaspora Meds was born out of a crisis. But through ingenuity, persistence, and a deep understanding of the needs of Zimbabweans abroad, Tapiwa Virima and his team turned a simple idea into a global success. Today, Diaspora Meds is not just providing insurance — it’s changing lives, giving hope, and providing access to essential healthcare for families who need it most.

It’s a reminder that sometimes, the greatest opportunities arise when we least expect them, and how we adapt to challenges can create something truly transformative.

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