The Hollard Insurance Group has partnered with TymeBank to offer Family Protect, funeral cover that provides a three-month income benefit for living expenses, with no delay or paperwork.
The partnership leverages TymeBank’s banking platform technology and Pick n Pay’s retail footprint to broaden access to financial solutions, providing insurance solutions that meet the needs of consumers.
The Family Protect cover is available for new TymeBank clients and can be accessed at TymeBank’s self-service kiosks in over 400 Pick n Pay stores nationwide.
Existing TymeBank customers will be able to access the solution at a later stage.
Family Protect is designed to have broad appeal to consumers.
Sign-up is easy, convenient, and quick as the TymeBank kiosks use biometric identity verification. Within minutes, customers can sign up for an account and choose the cover most suitable for their individual family needs.
“A lot of work still needs to be done in the country around financial education and planning and the provision of broad-based financial access,” says Besa Ruele, CEO of Hollard Life. “Our aim is to play our part in informing consumers of the importance of financial planning.
“By harnessing the power of digital platforms, we want to ease the financial burden on future generations by providing financial control and convenient access to financial products and services.
“We will continue to explore opportunities to expand access to financial products that can enrich people’s lives, using the most accessible channels to widen our reach. In that way we hope to play a part in improving the lives of people through financial services.”
TymeBank CEO Tauriq Keraan says: “This partnership is true to TymeBank’s ethos of ensuring responsible banking practices to offer solutions that will advance the consumer’s financial well-being. Given the current challenging and uncertain economic period that consumers face, this innovation provides a solution that can positively impact consumers.
“Our partnerships with Hollard and Pick n Pay demonstrates the value that can be unlocked when corporate citizens come together to the benefit of individual citizens. We are leveraging our expertise in the financial services sector to bring a truly innovative offering that resonates with the needs of families across South Africa.
“Our customers are benefiting immensely from a differentiated digital experience that they can safely and conveniently access,” Keraan adds.
Richard van Rensburg, CIO at Pick n Pay, says: “This continuous innovation by our strategic partners allows us to provide our customers with greater convenience under one roof, but also improves accessibility to financial services thanks to our convenient footprint in neighbourhoods across the country.
“Our stores have become more than just a place to buy groceries, but a place for everyday services, such as bill payments and banking.
Family Protect will be available from October 2020.
