By: Staff Writer
The chief executive officer of the Motor Vehicle Accident Fund, Rosalia Martins-Hausiku unveiled the institution’s new five-year strategy, which officially commences from the 1st of April 2019 to the 31st of March 2023.
Martins-Hausiku made this announcement at the Fund’s quarterly Media Day engagement with journalists which was held in Windhoek on Friday, 15 March 2019.
This latest development follows on from the CEO’s latest re-appointment by the Board for a second term on the 1st of October 2018.
Remaining steadfast on its mandate, the MVA Fund will continue to support injured people, or dependents of persons injured or killed in motor vehicle crashes, by empowering them to take ownership of their journey to recovery and independent living.
“As we pave the way for our next five-year roadmap, the MVA Fund will continue to play a vital role in developing understanding amongst our stakeholders regarding the causes of crashes, injuries and fatalities, while at the same time embarking on road safety awareness campaigns across the country in line with the Decade of Action strategy,” states Martins-Hausiku. The key performance areas outlined in the new roadmap strategy are as follows:
Enhance Customer Experience
Over the next five years, the Fund’s aim is to maintain a high level of customer satisfaction, which increased to 95% last year (2018) from 79% in 2014. The objective is to transition to a scheme that makes provision to support all customers regardless of the cause of the crash.
Enhance Employee Experience
Currently the Fund has a total staff complement of 193, throughout its seven (7) service centres countrywide. Martins-Hausiku stressed that it is imperative for the institution to maintain a high level of staff satisfaction through targeted employee engagement programmes and mutually beneficial relationships.
Effective Internal Processes
In order to ensure excellent customer service delivery to our claimants when it comes to the benefits, the Fund will invest in resources to improve its information systems, streamline processes and at the same time enhance data structures and business intelligence capability.
Financial Performance
Ms. Martins-Hausiku points out that the last five years (2014-2019) have been an incredible journey where the Fund has yielded positive financial results. Despite tough economic conditions, the institution has remained driven in raising its funding level from 84% in 2014 to a sound financial position of 141%. “I remain optimistic that as we continue to grow this financial standing, it will ultimately help reduce our dependency on the fuel levy. This can be achieved through effective and efficient financial management to grow our net assets, thereby generating more revenue in the next five years,” she said.
Risk Management
Risk management is a critical element for the Fund to achieve its business objectives and to remain financially stable. Ms. Martins-Hausiku highlighted the point that the absence of risk management in a strategy can be a recipe for disaster. “For instance, if a company defines objectives without taking the risks into consideration, chances are that it will lose direction and focus once any of the risks hit home.”
The Fund’s latest Strategic Business Plan will be made available to the public and its stakeholders on the 1st of April 2019.
