Saturday, July 20, 2024

Barclays, Hollard team up on Lorako Business insurance

Barclays Bank Botswana says it is striving to remain relevant by providing innovative solutions that provide convenience and security to its customer’s needs.

The bank recently partnered with Hollard Insurance and launched its latest innovation from its basket of insurance solutions, the Lorako Business Insurance.

Speaking at the launch, Barclays Bank of Botswana Business Banking Director, Andre Potgieter said by including insurance in the bouquet of products; they give their customers the convenience and efficiency of using Barclays Bank as a one stop shop for their financial services requirements. He added that Barclays Business Banking endeavours to provide an all-inclusive service for their needs.

“We appreciate that insurance is a very necessary financial product for our customers. We have partnered with Hollard Insurance to offer customers this product,” he said.

He is of the view that Barclays continues to recognize and realize the positive impact the customer’s business operations have on their communities. He added that they understand customer’s need to have their business insured against the uncertainties in the environment they operate in.

“We know that there are many complexities and components that can affect the business environment. As part of our strategy, we always seek to provide current, innovative and relevant solutions to all our clients,” said Potgieter.

For his part Hollard Insurance Underwriting Executive Paul Beka said Hollard and Barclays have enjoyed a lucrative Bancassurance relationship for 7 years, providing custom insurance products to Barclays staff and clientele. He said all insurance product offerings undergo a rigorous joint product development process to ensure that clients realize value. Beka further stated that as the relationship progressed, an immediate need was identified; in order to provide a solution and meet compliance requirements, Barclays business customers require insurance.

“The bank can add value to the client through negotiated insurance rates, one-stop shop approach, an enhanced relationship management experience and immediate access to best-of-breed products,” he said.

He stated that Lorako caters for most insurable risks any business may face such as fire and other perils Storm, earthquake, tremors, lightning. He added that it also caters for business Interruption such as loss of profit, accidental damage office furniture and other equipment. He spoke of personal accident to employees.

He is of the view that Hollard has achieved substantial growth on providing innovative product solutions, and forging synergistic partnerships. He added that a philosophy that’s very deeply entrenched in the Hollard way of doing business.

“Other than Botswana, Hollard has a presence and insurance experience in other countries throughout Africa,” said Beka.

He further stated that the insurance can cover   goods in transit, fire, collision, overturning or theft  as well as money cash, postal orders and crossed cheques.


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