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Standard Insurance Limited reaches greater heights of excellence through new ways of working
MandyP
Community Coordinator

Standard Insurance Limited, the 10th largest short-term insurer in South Africa, is continuing its drive to be the leading insurance services business in, for and across South Africa through its “new ways of working.” 

 

Short-term insurance is a strategic imperative for Standard Bank, and all existing short-term insurance products and services will now be offered as a universal capability throughout all business lines, corporate functions and legal entities, and span the entire Standard Bank Group, including Liberty. However, this universal capability offering is not the only change:

In an effort to understand where the business can improve efficiencies and drive productivity, the division is overhauling its core capabilities throughout all areas of the business – essentially, changing the way it works. This includes the development of a paperless claims process, significant system updates, supplier development and empowerment, and product expansion.

 

Angela Mhlanga, Head of Insurance at Standard Bank Wealth, explains that all these changes are in the interest of service excellence; traditionally, insurance is a grudge purchase, so it’s important to keep customers happy, especially when it comes to the claims process. For instance, to increase response times for repair work, Standard Insurance Limited is upskilling entrepreneurs in various regions throughout the country. It then provides them with work, so they can make meaningful contributions to South Africa’s development. Likewise, the Standard Bank mobile banking app allows customers to lodge claims seamlessly and have them addressed much sooner than if they call a call centre.

 

As a result of these initiatives and others like them, the division placed third in the short-term insurance category at the 2017 Ask Africa Orange Index® Awards, one of the longest-running, largest and most-widely referenced service excellence benchmarks in South Africa, held last night at Melrose Arch.

 

Although Ms Mhlanga acknowledges that the division is not yet where it wants to be, she shares that Standard Insurance Limited is thrilled that their business model of working tirelessly to understand customers; continuously reengineering customer experiences to improve what they do and how they do it; proactively working to protect what matters most to customers; and making a meaningful contribution to South Africa, has resonated so strongly.

 

“Ultimately, our business is about responding to customer needs by developing our own reputation with clients as their most trusted leading insurance brand supplier. Our experience has shown that our customers appreciate great service – and this is what we will continue to give them by delivering on our promises,” concludes Ms Mhlanga.

For more information on Standard Bank’s short-term insurance offerings, visit www.standardbank.co.za/insurance

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