Absa has launched its new online insurance offering, which will provide Absa users with six core short-term and life insurance and investment products on a single platform.

The company elaborated that the platform will enable its customers 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 will be available for purchase through Absa Online.  

Speaking at the launch, the chief executive for Absa Financial Services, Willie Lategan, asserted that the move demonstrates the bank’s commitment to being relevant to its customers and underscores its quest to become Africa’s ‘Go-To’ bank.

Convenience is King

“Our customers want convenience and we have delivered. In future they can interact, transact, view and amend their policies online at any time of the day and week,” he enthused.

Adrian Vermooten, Absa Head of Digital Channels and Payments added that with the new digital insurance offering, the bank can now provide customers with a net worth or a snapshot of their financial position. “By consolidating insurance and banking products, customers will have a clear picture of where they stand financially at a glance,” he continued.

The move into offering more convenient access to insurance policies follows the bank’s similar ‘anytime, anywhere’ accessibility for its Absa Rewards programme, which enables its customers to view their reward balances and instantly access their cash rewards.

The company also highlighted the fact that its partnership with Western Union makes it easier to make worldwide payments.

To the point

The move is certainly a laudable one, but for general users, it’s particularly heartening to see how technology and digital seem to have compelled all the banks to up their game in recent times in order to remain competitive. Of course, the ultimate winner, at least from a convenience point of view, ends up being the general user.

For a video walkthrough of buying short term insurance online using Absa Online, take a look at the video below.