Over a century in business and offering funeral, life, savings, and retirement annuity policies, Assupol Life has become a fixture in the South African insurance sector. The company originally offered its products to government employees only, but – responding to consumer demand – is now open to the general public.
Assupol maintains a 27% share of the market in the government sector. The company is determined to replicate its success in the broader market, taking on much larger competitors by focusing on customer care and its signatory no-nonsense processing of claims.
Assupol consistently processes claims in under 24 hours – in fact, the company is a trendsetter in speeding up processing times. To help less financially resilient policyholders, Assupol pioneered a model that offers near-instant cash advances on claims.
Assupol also leverages its network of branches and agents to put a human face – and apply a human touch – to its services. Policyholders do not need to navigate labyrinthine phone routines and can address their concerns at local offices. Maintaining close proximity with clients – and keeping policyholders abreast of developments – are key to Assupol’s enduring success. To that end, the company deployed four mobile offices to travel the country and offer assistance in areas not yet fully covered by its network of more than seventy branches.
The CFI.co judging panel is familiar with Assupol’s progress and has recognised the company on a number of previous occasions. The judges agree that Assupol’s continued dedication to operational excellence again merits a win and offer the company the 2017 Best Life Assurer Southern Africa Award.