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Absa bank deepens its bancassurance service offering in Kwazulu-Natal

17 February 2016 Absa

Absa Bank Ltd (Absa) deepens its fully-fledged bancassurance services offerings, which differentiates itself through the customised solutions it provides to clients, in Kwazulu-Natal.

Absa’s bancassurance service is anchored on the approach to be customer-focused and managing the risk for customer and the bank with a far better economies of scale with advisers in Retail Banking, Business Banking and Private Banking. Clients also have access to advisers in the Employee Benefits Advisory Services.

Absa’s over 1.3 million online banking clients in South Africa have access to a fully-integrated online insurance, with access to a suite of six core short-term and life insurance and investment products – all on a single, secure platform. Clients are able to apply for and manage short-term insurance policies to cover residential buildings, household contents and vehicles. Additionally, life insurance, funeral cover and credit protection can be serviced and will be available for purchase through Absa Online.

South Africa has a shortage of financial advisers with extensive financial planning skills, knowledge and industry experience. In the wake of the financial crisis, the scrutiny of financial advisers has intensified and that is the reason the Absa Academy was established in 2010.

Sihle Mfeka, Provincial General Manager of Wealth Investment Management and Insurance Distribution in Kwazulu-Natal, says: “Our Absa Insurance and Financial Adviser Academy has evolved to form the business school, which attracts, develops and helps us to retain talented aspiring advisers in the financial services industry. The individuals are trained, mentored, coached and developed as professional financial advisers or planners. The Academy is a place where all advisers are deployed into the exciting world of financial planning.

“We are working towards becoming the ‘Go-to’ bank in Kwazulu-Natal. Our training programme demonstrates the important role that we play in guiding our decisions and helping people achieve their ambitions in the right way. This is testament to our commitment of addressing the skills shortage that exists in the province and the industry. Additionally serving our clients better.”

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