Standard Chartered Bank Botswana Limited alongside its partners, Botswana Life, Botswana Insurance Company and AON recently launched enhancements to their suite of short-term insurance and investment-linked products. As part of the Bank’s continued drive to bring convenience and innovation to its customers, 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.
At a client cocktail event in Gaborone recently, 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 of Client Acquisition, Peo Motshegare highlighted the Bank’s desire to go beyond traditional banking products adding that, “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 favourable 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.”
In his closing remarks, Standard Chartered Bank Botswana’s CEO, Mpho Masupe thanked the partners for their shared view of the opportunity for innovation and 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.”
Masupe concluded, “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.”