Vodacom to offer life insurance

By Staff Writer

Last week Vodacom was awarded a long term insurance licence by the Financial Services Board (FSB).  This news comes after it was given the go ahead to sell and underwrite short term insurance products earlier this year. A spokesperson said products had not yet been finalised but Vodacom said it is looking at providing a full suite of insurance products relevant to its customers.

 
Vodacom said it will be able to leverage the direct links it has with over 30 million customers and dramatically reduce the costs traditionally associated with acquiring and serving customers. It claims that these savings will enable it to extend greater value to its customers.

 
“Our insurance business proposition is simple; we are focused on providing Vodacom customers with unbeatable value. Our customers will benefit from the value and convenience that we are able to offer. The vision is to dissolve the barriers to entry for all South Africans previously unable to access insurance products,” said Mark Taylor, managing executive of Vodacom Financial Services.

 
Vodacom appointed direct life company Frank.net, which is owned and capitalized by Liberty Holdings, to provide administrative and claims support for its long term insurance offering. 

 
“Frank.net is a good fit for us.  The company has a proven track record in the long term insurance industry with the latest technology platforms and innovative ways to provide an excellent customer experience. We are excited about the depth of experience that Frank.net will bring and believe that they will provide excellent service that our customers expect,” added Taylor.
 
 
 
 

Recent Articles

Featured Rating agencies may come knocking

It is only the middle of February, but the rand has already made two big moves. The first was the rand moving from R14.60 to R 13.20 at the beginning of the year, as emerging markets (EM) became fashionable again. The second was where the rand gave away nearly 90 cents in 2 weeks as the EM rally ran out of steam, and local events started to hit the headlines.

Read more

The cost of sending money home to neighbouring countries

Transferring money home within the Southern African Development Community (SADC) provides vital financial support for many households in neighbouring countries.

Read more

Student bank accounts: Which come out on top?

Being a student signals budgeting and not having a lot of money at your disposal. This means streamlining expenses such as your grocery costs and entertainment budget. But what if your bank account is in fact costing you more than you can afford?

Read more

Can you afford an ambulance in South Africa?

When a loved one is straddling the line between life and death, you won’t hesitate to call an ambulance. This week, Justmoney found out how much an ambulance ride costs in South Africa, whether you can refuse to get into an ambulance, and who pays the bill if you’re unconscious. 

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

President Hotel Easter Special

Price: From R1,500
When: 15 March to 30 April
Where: Cape Town

Kulula-Preskil Island Resort Special

Price: R16,999
When: 11 May -14 September
Where: Mauritius

A Touch Of Madness Tuck In Tuesday Special

Price: R70
When: Tuesdays
Where: Cape Town