Standard Chartered Bank Botswana Limited alongside their partners, Botswana Life, Botswana Insurance Company and AON launched enhancements to their suite of short-term insurance and investment-linked products.
Standard Chartered through its Bancassurance department has partnered with the market leaders in the insurance sector to allow existing customers of the Bank access to short-term, long-term and investment-linked products. The Bank introduced new short-term general insurance products for home and auto in partnership with Botswana Insurance Company and the Isago investment-linked product in partnership with Botswana Life. These products join the existing suite of long-term insurance products, Poelo Life Insurance, Bosa Hospital Plan, and Lore Funeral Cover that were launched in 2017. All products, long and short, are brokered by AON Botswana.
In her opening remarks, Head, Client Acquisition, Peo Motshegare highlighted the Bank’s desire to go beyond traditional banking products.
“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.”
Standard Chartered Bank Head of Wealth Management, Otsile Mabeo reiterated that the Bank saw value in not only providing leading solutions but also in educating the public on insurance as well; “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. Beyond just being a product solution provider, we have embarked on a financial thought-leadership series where through channels such as radio we have sought to educate Batswana on the importance of having insurance solutions.”
In his address, Botswana Insurance Company’s (BIC) CEO, Newton Jazire commended the convenience that the partnership offered; “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 favorable rates. A ‘one stop shop’ concept!” Jazire further noted that, “BIC will continue to work hand-in-hand with Standard Chartered Bank at assessing, monitoring and evaluating products matches, areas of improvement and fast tracking services and products to adapt to consumer preferences. BIC will continuously measure the customer experience through service points to ensure that the partnership not only delivers but exceeds customer expectations.”
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.”
Standard Chartered Bank Botswana’s CEO, Mpho Masupe said as the bank innovates and develop products to meet clients evolving needs, it looks forward to availing these solutions through the bank digital platforms in the not so distant future.”