Sunday, 21 July 2019

MTN South Africa to resell insurance services

By Nick Wood, for Total Telecom
Thursday 11 July 19

Telco partners with continent's biggest insurer Sanlam to offer services through its app, Website and USSD platforms

MTN South Africa will begin reselling insurance from Sanlam, the continent's largest insurance company, on its various platforms. Local press reported this week that the initial portfolio of products ranges from life insurance and funeral cover…

MTN South Africa will begin reselling insurance from Sanlam, the continent's largest insurance company, on its various platforms.

Local press reported this week that the initial portfolio of products ranges from life insurance and funeral cover. The plan is to extend the number of products available further down the line to include savings and investment plans and various value-added services.

Eligible customers can sign up either via MTN's mobile app, Website or USSD service.

According to the ITWeb report, under the agreement, MTN will provide the platforms, payments service, and clientele distribution, while Sanlam will provide regulatory compliance and capital, in addition to insurance products.

This news is yet another example of strategic partnering aimed at helping a telco become more integral to its customers' digital lifestyle.

"We believe everyone deserves the benefit of a modern connected life and that we are uniquely positioned to help make this a reality," said MTN Group CEO Rob Shuter, in the report. "By bridging the digital divide that is so pervasive across the continent, we can help drive more financially inclusive environments that give all people access to useful and affordable financial solutions."

MTN and Sanlam have yet to finalise a launch date for the service.

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