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Standard Chartered, Prudential Life enter into bancassurance partnership

Prudential Life Insurance and Standard Chartered Bank have entered into a strategic bancassurance partnership to provide a one-stop shop for exclusive life insurance products to clients.

The alliance puts the two institutions in a very strong position to provide a comprehensive range of products to meet all clients’ insurance needs.

The exclusive strategic bancassurance partnership between the two organisations was first established in 1998 and was renewed for another 15 years in 2014 to reinforce the distribution capabilities across Asian markets.

To further deepen this relationship, Prudential and Standard Chartered have agreed to extend the geographic scope of their exclusive partnership under the 2014 agreement to Ghana.

Under this partnership, a range of Prudential Ghana’s life insurance products would be made available to clients through Standard Chartered’s extensive branch network.

Mr Gautam Duggal, Regional Head of Wealth Management, Africa and Middle East and Europe, Standard Chartered Bank said the bank was desirous to bring the excellent experience from the partnership in Asia to Ghana.

He said the bank’s customers remained the focus of the partnership and was confident that it would work for good of all.

“We are pleased to work together with Prudential to provide tailored life insurance products and services that suit the savings and protection needs of Ghanaians today. Our ability to adapt to change and harness new technologies will be a key driver in reaching the uninsured across the country. This partnership underpins our commitment to the country and reinforces our market-leading position.”

This collaboration will focus on value propositions, which are customised to client needs; backed by a leading digital platform to provide top quality customer experience.

Furthermore, both organisations are looking at exploring opportunities to extend this collaboration to other African markets such as Kenya and Uganda subject to all the necessary approvals.

Mr Mokobe Aryee, Chief Executive Officer, Prudential Life Insurance, said the partnership with Standard Chartered across Asia had delivered substantial benefits to customers for 20 years.

He said Prudential Life was ready to replicate the successes chalked in Asia in the Ghanaian market and was delighted to bring the capability to meet the strong demand from customers in Ghana for protection and long-term saving products.

Source: GNA

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