Absa and 1Com form strategic partnership to support future growth

01 October 2010 Absa

Absa Insurance Company Limited (AIC), a wholly–owned subsidiary of Absa Financial Services, is delighted to announce it has engaged with 1Com Investment Holdings (Pty) Ltd (1Com), a specialist underwriter, in the development of a strategic partnership which will support their respective growth strategies into the future.

With effect from 1 October 2010, all business written by the 1Com group will be consolidated and written under the Absa Insurance Risk Management Services Limited (AIRMS) licence which is a wholly owned subsidiary of AIC.

“This initiative opens a host of opportunities for us. It will strengthen the partnership between Absa and 1Com to accelerate growth using a wider distribution network and delivery system for both parties. We will also have access to, and use of, 1Com’s advanced web-based policy administration system called 1Web, allowing faster seamless delivery to our intermediaries,” says Edwyn O’Neill, Managing Executive: Absa Insurance Company.

Andrew Harvey, Chief Executive Officer of 1Com added: “The joint venture between 1Com and Absa will enhance our existing business activities, while augmenting our competitiveness as we seek new business opportunities. Our combined capabilities will benefit policyholders through increased speed and efficiencies in the delivery of our services which are now accessible through a broader variety of channels.”

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