Absa provides online insurance platform

The bank today unveiled what it says is SA's first fully-integrated online insurance platform.

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Big four bank Absa has unveiled what it claims is SA's first fully-integrated online insurance platform.

The bank says in a statement its 1.3 million online banking clients are now just a few clicks away from having access to a launch suite of six core short-term and life insurance and investment products on a single, secure platform.

"Absa clients will be in a position to apply for and manage short-term insurance policies to cover residential buildings, household contents and vehicles," says the bank. "Additionally, life insurance, funeral cover and credit protection can be serviced and will be available for purchase through Absa Online."

Absa financial services head Willie Lategan says the platform demonstrates Absa's commitment to being relevant to its customers and giving them convenience. "In future, [clients] can interact, transact, view and amend their policies online at any time of the day and week. Our customers will get a differentiated and holistic digital experience."

Absa Online says its online banking site has recently evolved to provide easy access to the Absa Rewards programme, where members have instant access to their cash rewards while also having the ability to view their reward balances at any time. "Other innovations include the ability to open a range of savings and investment accounts in just three clicks. Absa Online also makes worldwide payments easier through its partnership with Western Union," says the bank.

Adrian Vermooten, Absa head of digital channels and payments, says the new digital insurance offering provides customers with 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."

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