Absa Life was a winner at the 13th Annual National Business Awards (NBA), walking away with the Innovation through Technology award at the ceremony held at Emperors Palace in Johannesburg recently.
The award comes on the back of the market first technology pioneered by the bank called Affinity, which Absa introduced to its customer base in April 2015.
“We were nominated as finalists in the Customer Focus and the Innovation through Technology categories. It is our second consecutive year of being nominated. In addition to winning Innovation through Technology, we were also awarded a special commendation for Customer Focus, which places us in the top 3 in this category,” says Jannie Venter, the Managing Executive at Absa Life.
Absa Life has pioneered big data technology to develop the first African predictive underwriting solution and one of the first globally. The unique selling point of this innovation is that it has made the process of medical underwriting much more convenient. Instead of asking customers to go through a comprehensive medical screening process which is often cumbersome the bank now looks at transactional data to assess the health status of clients.
“This has increased customer convenience significantly and Absa Life is now recognised by the National Business Awards as a Bancassurer of choice on the continent as we demonstrate our commitment to keep our customers at the heart of everything we do. This achievement is significant for us as it further embeds our ambition as a bank to place greater focus on our customers,” adds Venter.
This year’s nominees from the various companies and industries proved to be extremely competitive across all categories, with strong individuals and organisations entering the Awards from across South Africa. In association with the Top Performing Companies publication, the National Business Awards recognise the success, innovation, and ethics of South Africa’s leading companies and organisations.