Sanlam is a diversified financial services group, headquartered in South Africa, operating across a number of selected global markets.
We use a decentralised operational model, managed through tight principles set at a Group level, to execute on our strategy. This model is a key part of our ability to differentiate ourselves from our peers in strategic execution.
Risk solutions provide monetary benefits to compensate for the financial impact of unexpected events such as death, disability, trauma and retrenchment
Investment solutions facilitate wealth accumulation and provide for income at retirement through a full range of investment options that offer varying levels of investment guarantees
Insurance solutions provide monetary benefit to compensate for the loss of physical property, loss of trading income or liability incurred. It includes motor, property, aviation, crop, engineering, guarantee, liability, accident, transportation and alternative risk transfer insurance
Retail client solutions offer savings options that create wealth through a range of collective investment schemes and wealth management solutions, including stockbroking
Institutional client solutions offer wealth creation through traditional and specialist asset management in South Africa and abroad
Retail client solutions offer access to personal loans and traditional banking to create long-term financial prosperity
Institutional client solutions provide asset-based financing, debt origination and structuring, asset-liability management, equity and interest rate derivatives, and collateralised lending in support of business activity and economic growth
Long-term financial resilience and prosperity is created through individual and organisational financial needs analysis and advice (including estate planning, trusts, wills), health management and retirement fund administration
Sanlam’s financial and risk solutions support wealth creation and protection for individuals and organisational clients. The nature of these solutions often have a positive impact beyond the client, as it supports systemic resilience for businesses, families and communities, such as in the case of death, disability or fires and floods.
Read more about our shared value creation
Sanlam provides financial solutions to individuals and organisations through a network of channels and partnerships in 45 countries. We deliver these client-centric products and services through the following five primary operational activities:
Develop innovative wealth creation, management and protection products and services, including appropriate distribution channels and branding
Manage our various distribution channels
Provide client support services, including administration, actuarial, human resources and information technology
Investment management of client and shareholder funds
Asset-liability matching in line with clients’ needs and preferences
Conduct experience analyses to identify emerging trends as input to product pricing and claims management
Governance of participating products
Provide business support services including financial management, accounting, actuarial valuations, regulatory reporting, human resources and information technology
Deploy discretionary capital
Optimally allocate financial capital to clusters
Financial and actuarial risk management
We follow an omni-channel distribution approach to ensure that clients are reached and serviced through their preferred channel. The distribution model is continually adapted to changing client preferences, with increased focus being placed on further developing Sanlam’s digital capability. Sanlam’s current distribution channels are broadly classified into four categories:
Advisers service our retail clients via two categories: those who are only accredited to sell Sanlam products, and those accredited to sell a wider product range. Where an adviser is accredited to sell a wider product range, limits apply to the proportion of business that can be placed at competitors. Adviser channels are typically managed according to market segment (lower income/entry-level, middle income, affluent and professional/small business). This ensures appropriate focus on the specific needs of the various segments in line with our client-centric business philosophy.
Brokers service retail and institutional clients across market segments and are supported by dedicated broker support units. Brokers are an important distribution channel, especially in the South African affluent market, where the majority of new business is written through brokers, and in the Rest of Africa, where most institutional general insurance business is placed by brokers. Given their independence to distribute all competitor products, establishing and maintaining superior support and relationships with this channel are key focus areas of the broker support units.
Direct units distribute Sanlam products directly to retail and institutional clients using technology-based channels such as outbound call centres, online platforms and mobile communication. Direct distribution contributes a major portion of Santam’s general insurance premiums through MiWay, but the contribution to life and investment business volumes is still relatively small. However, this is expected to change over time as the use of technology to buy financial services becomes more prevalent. The development of our digital capability as part of the omni-channel approach is therefore receiving particular emphasis.
Affinity groups focus on distribution through groupings of retail clients, for example, employer and church groups. The affinity group partner is typically responsible for administration at an individual member level, and Sanlam provides the relevant products.
Sanlam has relationships with a number of banks and telecommunications companies across Africa through which we distribute insurance and investment products to their client bases.
Affinity groups, bancassurance and telecommunications relationships offer us access to large client bases through single entry points. This is a key benefit for start-up operations to gain economies of scale significantly faster than through traditional retail intermediaries. It also forms a critical part of our omni-channel distribution approach and promotes financial access in under-serviced low income segments due to the lower distribution cost.