Category Life Insurance

Old Mutual expands funeral service to customers

06 August 2020 Old Mutual

Offering to include funeral arrangements

Old Mutual is extending its offering in the funeral industry. In addition to funeral cover, customers will be offered a dignified funeral service, burial, or cremation, creating an end-to-end set of benefits and services.

Old Mutual has been piloting various business models, including ownership and partnership versions with the aim of integrating funeral services into the funeral value chain.

The expanded service will be provided through the first wholly owned Old Mutual Funeral Parlour located in the Randburg CBD, with branches in Alexandra, Fourways, and Randburg Plaza. Old Mutual Funerals will also have representation in existing Old Mutual branches in Diepsloot and Cosmo City Mall.

“Old Mutual has been working in the funeral industry for many years and as a responsible business, we are committed to supporting the funeral industry as a major driver of SMME development, transformation and financial inclusion in South Africa,” says Faedah Hendricks, Head of Old Mutual Funerals.

According to Hendricks, Old Mutual has put in place a seamless customer service process. This includes arranging funeral services as well as obtaining death certificates and organising exhumations and repatriations to other parts of the country.

“We aim to be a one-stop-shop by walking the journey with customers and being their certain friend in uncertain times. Customers can submit claims at any Old Mutual branch or any of the six Old Mutual Funerals branches located in Johannesburg,

“We ultimately want to relieve customers of the stress of arranging a funeral by taking care of all the documentation and administrative requirements from the moment the customer notifies us of a bereavement,” adds Hendricks.

As part of a broader transformation agenda for the industry, today is also the official launch of the Old Mutual Financial Service Provider (FSP) SMME Accelerator Programme. This is an incubator programme specifically tailored for funeral administration and broker businesses currently underwritten by Old Mutual.

The programme aims to equip over 100 businesses over the next three years with the necessary business management skills required to run and grow a business. It is accredited by the University of South Africa (UNISA) and participating businesses will receive an accredited certificate upon completion of the programme.

“Over many decades of servicing the funeral market, Old Mutual developed a client centric model that enabled the formation of strong ties with parlours and burial societies across the country. The introduction of Old Mutual Funerals will solidify these relationships as we continue to innovate and respond to the ever-evolving needs of customers,” concludes Hendricks.

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