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Standard chartered bank unveil new life insurance policy

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Standard chartered bank unveil new life insurance policy
STANDARD CHARTERED CEO: Masupe

Standard Chartered Bank Botswana have announced an exciting new partnership with Botswana Life, Botswana Insurance Company (BIC) and AON.

The union will greatly enhance the bank’s insurance offerings and is line with its continued commitment to provide convenience and innovation to its customers.

The partnership with three of the country’s leading insurance providers gives the bank’s existing customers access to short-term, long-term and investment-linked products.

At a client cocktail evening in Gaborone last week, Standard Chartered introduced new short-term general insurance policies for home and auto in partnership with BIC and the Isago investment-linked product in partnership with Botswana Life.

These products join the bank’s existing suite of long-term insurance policies: Poelo Life Insurance, Bosa Hospital Plan and Lore Funeral Cover, which were launched last year.

All policies, both long and short-term, are brokered by AON Botswana.

In her opening remarks, Head of Client Acquisition, Peo Motshegare highlighted the bank’s desire to offer their customers more.

“With our partners, Standard Chartered Bank continues to seek opportunities to be the leading one-stop shop for all the financial services needs of our clients. This means going beyond the traditional banking products of lending and deposits to helping our clients grow and protect their financial resources,” she explained, adding the partnership would run through Standard Chartered’s Bancassurance department

The bank’s Head of Wealth Management, Otsile Mabeo noted that the institution strives to not only provide leading solutions but also educate the public on insurance.

“We have been distributing our market-leading products through our branch network for some time now. In 2017 we consolidated our products with a clear path to providing an end-to-end wealth protection suite for our clients.

In his address, BIC CEO, Newton Jazire commended the customer convenience the partnership creates.

“If a Standard Chartered client wants insurance they no longer have to run across town looking to buy insurance, everything is now housed under one roof, at favourable rates. A ‘one stop shop’ concept,” Jazire said.

Botswana Life’s Head of Financial Institution, Employee Benefits and Affinity Group, Joseph Kuaho indicated that corporate partnerships made for a strong business case with the ultimate benefit being to the customer.

“With the current challenges facing the global economy, it is crucial for companies to explore new opportunities that afford customers financial security.

“This is why, as Botswana Life, we continue to heed this call and create value for our customers, point in case this ongoing strong relationship with Standard Chartered Bank Botswana offering avant-garde products.”

In his closing remarks, Standard Chartered Bank Botswana’s CEO, Mpho Masupe thanked the partners for their support.

“I would like to thank the CEO’s of BIHL, BIC AON and their teams for reminding us all of the opportunities that a great partnership can bring, allowing us to serve our clients better.

“As we innovate and develop products to meet our clients’ evolving needs, we look forward to availing these solutions through our digital platforms in the not so distant future,” Masupe concluded brightly.