We ensure our intermediaries are professional and well-informed, that our advice considers clients’ circumstances and that clients are reached and serviced through their preferred distribution channels.
Our omni-channel approach means the client is at the centre of what we do and can reach us easily. They have a choice of channels to give them access to financial products and services, wherever, whenever and however they want to transact. Interactions are coordinated to provide a more comprehensive service offering.
Our transaction methods include face-to-face contact or contact via a branch, online, mobile, video or social media, and we have four distribution channels:
The Sanlam-authorised BlueStar businesses, located across South Africa and Namibia, provide individual investors with professional financial advice and personalised solutions via a team of accredited, local financial planners. The businesses offer a wide range of personalised financial solutions, from financial planning and insurance, to investment advice and retirement planning. The number of BlueStar businesses has grown significantly in recent years, which supports our client-facing strategy.
Sanlam Bahumisi Consultants (SBC) is a new distribution channel within Sanlam Sky. SBC makes use of various new client-facing operating models that include pop-up kiosks, offices in buildings leased out to a key account as well as a Sanlam Retail Branch, where clients can buy a wide range of insurance products while experiencing world-class service.
Sanlam Now Cover is an online risk tool that helps clients calculate how much death and disability cover they need, with the option to buy cover – all within a few minutes. Clients can also request a financial adviser at any stage of the online journey. This supports our omni-channel strategy, serving the needs of clients who want to engage with us on the platform that best suits them.
In South Africa, Sanlam Sky services the entry-level market, providing financial solutions that are relevant to our value-conscious consumers through Sanlam Sky Agency Distribution, Sanlam Sky Broker Division, and Alternate Channels. The primary products sold in Sanlam Sky are funeral plans, however, this distribution channel also focuses on developing products that meet the broader needs of the entry-level market. These include life savings and retirement products, among others.
In 2018 we entered into a credit life and funeral distribution agreement with South African retail bank, Capitec. The funeral plan will enable Capitec’s clients to contribute only what they can afford, with a built-in voluntary pause option. This enables clients to be flexible and put their policy on hold for up to six months during times of financial strain. In addition, the offering features paperless applications, claims paid out within four hours, and cover for up to 22 lives on one policy. In partnership with Capitec, this offering will improve our competitiveness and ability to gain market share in the entry-level market segment in South Africa. Most importantly for clients and South African consumers, this funeral plan is a compelling banking offer that offers simplicity and value for money.
Following the success of our ground-breaking drama series, Uk’shona Kwelanga (South Africa’s first-ever WhatsApp drama series) in 2017, Sanlam Sky launched Lives of Grace in 2018.
Training and development are important to ensure that our tied advisers and intermediaries can service their clients effectively and within legislative requirements. We offer training initiatives such as sales, legal and technical training, management and leadership development, entrepreneurial and business management, technical products support and business processes training. This ensures our products and services meet clients’ needs and expectations. It also strengthens their trust in us and the broader financial services industry – creating more opportunities for them to benefit from wealth protection and creation, and financial security.
In addition to training and development, we contribute toward the provision of suitable advice through:
The Financial Planning Academy (the Academy) is a learning portal that helps intermediaries access information, participate in training, write accreditations and sign off on policies. The Academy is accredited by the Insurance Sector Training Authority and an online library serves as a knowledge portal for financial planning and includes links, articles and videos. In 2018, 3 224 intermediaries were trained through the Academy. In addition, 5 015 Product Specific Training (PST) accreditations were completed by December 2018.
To ensure suitable advice is provided to clients in the entry-level market, advisers are trained to conduct a financial needs analysis to assess prospective clients’ needs. Advisers are trained and updated on product and regulatory changes through a blended learning approach, which combines face-to-face training interventions, self-study and e-learning. In 2018, a total of 7 604 advisers were trained to enhance our service offering for clients in the entry-level market.
Sanlam’s ‘Conversations with yourself’ campaign was launched in August 2018 and presented a series of seven engaging films centred on one simple idea: what if you could learn everything you need to know about life from yourself?