FNB Botswana (FNBB) is expanding its insurance portfolio, First National Bank Insurance Brokers (FNBIB) by introducing comprehensive coverage for car, home, and personal risks including residential buildings, household contents, valuable items like jewellery, legal matters, and personal motor vehicles. The insurance products provide customers with straightforward and cost-effective personal insurance options and the flexibility to select from three distinct packages: Gold, Platinum, and Black, each tailored to their specific needs.
This move marks a significant step in FNBB’s mission to become a preferred integrated financial services provider for individuals and businesses. Speaking at the FNBIB product launch, FNBB CEO Mr Steven Lefentse Bogatsu said, “FNBIB’s business strategy was launched in 2019 to deliver sustainable growth over the next five years. This strategy responds to a dynamic operating environment and ensures that we continue to focus on those matters that enable us to create value. The successful implementation of our strategy will bring our purpose to life: to be a trusted insurance partner committed to building a shared future of prosperity.
He further mentioned that by making the Bank’s insurance business more efficient, FNBB’s drive to digitisation will continue to improve the speed and convenience of customer service, and this will drive further growth in the adoption of digital technology.
Mosadinkwe Mosinyi, Head of FNB Insurance, said: “With a substantial customer base, FNBB sees a unique opportunity to make notable progress in the short-term insurance sector. By eliminating the need for customers who finance their homes and cars through the Bank to seek coverage from external providers, FNBB aims to disrupt the insurance landscape and remain focused on customer assistance”.
The launch of short-term insurance solutions complements the Bank’s existing transactional and lending businesses, as well as its growing insurance division. It reflects FNBB’s commitment to placing customers at the core of its solutions. The Bank strongly believes that the insurance sector is primed for disruptive innovation. Insurance premiums, particularly for car and home insurance, are significant in the financial commitments of FNBB’s individual customers.
The introduction of these new solutions will contribute to providing comprehensive money management support in relation to insurance across various aspects of customers’ lives to give them a piece of mind.