STRATEGY

Sanlam banks on tech to drive post-Covid growth

The firm’s recovery trajectory took a hit from the impact of the COVID-19 pandemic

In Summary
  • The NSE listed firm, has been on a sustained recovery path in the last two years but acknowledges that business slowdown arising from Covid-19 ripple effects may impact its 2020 performance.
  • Last year, Sanlam Kenya with interests in Life and General Insurance business segments, managed to bounce back to full-year profitability, posting a net profit of Sh114.4million.
Sanlam Kenya CFO Kevin Mworia, Group Chairman Dr John Simba and Group CEO Dr Patrick Tumbo
Sanlam Kenya CFO Kevin Mworia, Group Chairman Dr John Simba and Group CEO Dr Patrick Tumbo
Image: COURTESY

Sanlam Kenya plans to leverage on information technology-based solutions to sustain its business growth as part of its post-Covid-19 recovery strategy.

The NSE listed non-bank financial services provider, has been on a sustained recovery path in the last two years but acknowledges that business slowdown arising from Covid-19 ripple effects may impact its 2020 performance.

“Sanlam banking on tech and partnerships to boost its post-Covid business recovery that has disrupted businesses across the world,” said Sanlam Kenya chairman John Simba.

 

He said that the firm will be banking on its human resource base and robust information technology options to boost its distribution and customer service delivery platforms.

“The biggest opportunity in growing the Sanlam Kenya business lies in tapping technology to reach new market segments. This digital transformation is opening up alternative distribution channels while revolutionising the customer experience,” he added.

Last year, Sanlam Kenya with interests in Life and General Insurance business, managed to bounce back to full-year profitability, posting a net profit of Sh114.4million.

Simba said that the firm would maintain a strategic focus on ongoing efforts to strengthen engagements with business partners while diversifying its insurance solutions to customers.

“We’re navigating through the new normal by making the necessary changes in the way we operate to safeguard the lives of our staff and other stakeholders whilst building and enhancing trust with our customers and business partners,” the firm’s Group CEO Patrick Tumbo said.

To sustainably grow shareholder value, Tumbo said that the firm would continue innovating on the best way to increase its footprint, with the  technology at the top of the list to reach underserved markets.