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Stanchart Expands Insurance Products

Standard Chartered
Standard Chartered Bank has partnered with the insurance sector players - Botswana Life, Botswana Insurance Company (BIC) and Aon - to enhance their insurance offering.

The partnership,which was done through the bank’s Bancassurance department, allows its customers to have access to short-term, long-term and investment-linked products.

The short-term general insurance products that have been introduced for home and auto have been done in collaboration with BIC while the Isago investment-linked product is done in partnership with Botswana Life. These products are an addition to the existing suite of long-term insurance products, Poelo Life Insurance, Bosa Hospital Plan and Lore funeral Cover that were launched in 2017. 

Speaking during the launch last week, the bank’s CEO Mpho Masupe said that all these insurance products are brokered by Aon Botswana. “As we innovate and develop products to meet our clients’ evolving needs, we look forward to availing these solutions through our digital platforms,” he said.

Masupe said that the bank continues to seek opportunities to be the leading one–stop shop for all

the financial services needs of their clients which means going beyond the traditional banking products of lending and deposits to helping clients grow and protect their financial resources.

“We saw value in providing leading solutions and also educating the public on insurance as well. We have been distributing our market leading products through our branch network for some time now,” he said.

Last year the bank consolidated their products with a clear path to providing an end-to-end wealth protection suite for their clients. 

On his part, BIC CEO Newton Jazire  said they will continue working with the bank at assessing, monitoring and evaluating product 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,” he said.




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