Botswana Life’s elite product gains traction

Botswana Life CEO Ronald Samuels says their new International Investment Product continues to make strides in the market.

He said the product – launched on the 3^rd of November last year – was one of the many they offer clients as a leading insurer to ensure that they achieve financial stability.

Unique amongst its features is that the plan is offered as a single International Investment Product, giving Affluent clients access to their investment value at any time. It is distributed through accredited agents, Wealth Managers and contracted brokers.

Moreover, the investment plan is designed to assist Affluent Clients access Offshore Investments through Sanlam Global Investment Solutions.

As it continues to gain traction, the CEO says the self-administered platform offers an array of investment options and he remains confident that with the roping in of Sanlam Group, a major shareholder in BIHL, the product will sell at a high rate and reaching new markets.

“Sanlam Group is currently present in 54 African countries so the partnership with the group in distributing the product is to grow its foot print across the world. There is positivity at the moment with regards to the reception of the BLIIP by the market hence we remain optimistic for more growth out of this solution going forward,” he added.

Ronalds said they continue to give quality services to the policy bearers, adding P1.4 billion in claims and benefits are paid consistently to the clients per year over the past five years.

Additionally, he said the insurance company boost of 10 000 pensioners having investments with Botswana Life whose annual claims paid fee amounting to P554 million annually.

His key role as the new CEO, he said, is to ensure that the Botswana Life grows robustly setting the pace to be leading player in the local insurance and financial industry, adding that this will be also driven effectively by their five-year strategy (2019-2023) which is set to be launched sometime this year.

Ronalds said Botswana Life will continue contributing positively towards the success of the mother company in Botswana Insurance Holdings Limited (BIHL), saying that the significant contribution made by the latter towards the profit of BIHL as noticed in the recently announced financial results for the year ending 2018 cannot be overemphasized at all.

Sanlam Global Marketing Head & Artificial Intelligence Manager, Gavin Meiring, hailed Botswana Life for taking a step forward in diversifying offerings through the international investment product plan.  He confirmed Sanlam’s keenness in partnering with Botswana Life into embracing new steps such as tapping into formulating artificial intelligence products.

Botswana Life Insurance Limited (Botswana Life) is Botswana’s oldest and only home-grown life insurer and is currently managing a file size of over 300,000 policies and has an Annual Recurring Premium of P1 billion.