Sierra Leone: Ecobank & Aureol Insurance Company Introduce Bancassurance Partnership

By Ishmael Sallieu Koroma

As a way of transforming financial services in the country, Ecobank Sierra Leone and Aureol Insurance has on last Thursday 2nd August, 2024, forged ?the Bancassurance partnership during a brief launch event at the bank’s headquarters on Lightfoot Boston Street in Freetown.

?The Bancassurance is a comprehensive financial service that allows customers to access a wide range of insurance products directly from Ecobank branches nation-wide.

In her statement, Kate Thompson, ?the head of corporate banking Ecobank Sierra Leone welcomed the team from Aureol insurance company whilst celebrating the beginning of a new partnership between the bank and Aureol Insurance Company as they launch the bancassurance services to their clients and market nation-wide.

‘’ This alliance represents more than just a collaboration. It is a synergy of shared values, ambition and commitment to serve our customers with excellence and innovation,’’ she said.

She added that, Ecobank was formed for a single purpose to contribute to the financial integration and socio- economic development of the African continent.

‘’ The collaboration we are witnessing today is as a result of hard work by stakeholders both organization to redefine the customer experience by making Ecobank SL a ?one stop shop for financial and insurance needs of its customers and prospects,’’ Kate Thompson, added.

Madam Thompson further added that, as part of the bancassurance product, the offer will include life and general insurance products which are travel insurance, auto insurance among others.

‘’We are hopeful that this partnership will help our customers to adequately plan to unpredictable contingencies,’’ Madam Thompson added.

Managing Director Aureol Insurance Company, Raymond Macauley in his statement, said they as a company are happy for the partnership adding that it will be a mutual benefit to both companies whilst assuring the bank , they will use the banks network to distribute their insurance product.

?‘’The Bancassurance started in 2022 where in we get proposal from Ecobank Sierra Leone, Even though you have not been seeing me , but I have been involved behind the scene . Today I am happy that on 2nd August 2024, we are launching the bancassurance product. It is the first bancassurance agreement in the market,’’ he said.

He said that they as a company, they are the only travel insurance institution ?in the sierra Leonean market adding with bancassurance , they will be selling insurance product across all ?Ecobank branches in the country.

‘’ This partnership I assure you will be one of the best in the market because you are dealing with an institution that has the right capacity, an institution that will provide you peace of mind. We are not new to Ecobank and we will always live up to your expectation,’’ Raymond Macauley assured.

Giving the closing statement, Musuyamasu Sahr, said the Bancassurance partnership is a great achievement for the banking industry and to a very large extent the insurance landscape in the country.

‘’ This very new product launched today will contribute to improving customer service across the country. However, it is acknowledged that the journey to launching this product has been long with devoted staff members from both the insurance company and Ecobank Sierra Leone. Therefore with gratitude I say thank you to the project team,’’ he said.

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