About the Company

Nedgroup Life Assurance (Nedgroup Life), a 100% owned subsidiary of Nedbank Group, is the life insurance arm of the group. With over 33 years of immense success as risk experts, Nedgroup Life has assisted clients to manage their exposure to financial risks through numerous service providers, such as Better Bond, Ackermans, Visa, Old Mutual and Nedbank. The company offers solutions that range from debt repayment and credit protection, funeral cover, life cover without underwriting, to simple savings and investments.

Although the current business is extremely profitable, in 2009 Nedgroup Life began exploring opportunities for growth in the broader risk market. With a number of successful players in the risk market, what became important was finding a niche market that had not been satisfied and boldly making an entry into that market segment. Extensive research led Nedgroup Life into an exciting phase of product development within the Individual-life segment. Plans are underway to launch an underwritten life product before the end of 2010.

'Any risk solutions provider will tell you that you either manage the risk or mitigate it. That is where the success of your business strategy lies,' says Lance Blumeris, Chief Operating Officer of Nedgroup Life. He explains further that 'Nedgroup Life has deliberately chosen a strategy of helping clients to reduce their exposure to the risks that life presents. A holistic approach to the management of clients' Life stages and incidents; the development of proprietary underwriting systems, and the use of technology to enable the accurate, fast uptake of business, as well as the efficient management thereof by advisers and financial planners, are some of the core elements of our strategy.'

The success of Nedgroup Life rests on its ability to develop niche products, service partners and intermediary channels, as well as to provide exceptional service to the clients at claim phase. 'We intend to continue on this trend with the launch of our new solution,' stresses Lebohang Noruwana-Mkhize, General Manager for Marketing and Communications. 'We also want our clients to know we are interested in their lives and wellbeing, even when they are not claiming.'