By: Standard Bank
Standard Bank makes key short-term insurance appointments to drive growth and move Africa forward
Standard Bank is gearing up to drive growth in its short-term insurance business, considered a strategic imperative for the Group, through investment in innovative, customer-centric and increasingly digital solutions, all whilst harnessing the group’s universal banking capability locally and across Africa.
Strong leadership is crucial to strengthen these capabilities and, in this regard, the bank has recently made two strategic appointments.
Dr Leon Vermaak has assumed the role of Standard Bank Group Head of Short-term Insurance, reporting to Margaret Nienaber, Chief Executive of Standard Bank Wealth; and Dr Nolwandle Mgoqi-Mbalo joins the Standard Bank Group as Head of Insurance for Standard Insurance Limited from March 2018.
A seasoned professional in the insurance industry, Vermaak has previously served as CEO of both Santam and Sanlam, and thereafter as CEO of Telesure. Vermaak was instrumental in formulating the short-term strategy within Liberty when he joined the group two years ago, and in his new position will be responsible for all short-term insurance businesses across South Africa, Africa Regions and International.
“Standard Bank is dedicated to being the leading financial services organisation in Africa and as such we strive to offer seamless, innovative insurance solutions within an over-arching philosophy of moving our continent, and its people, forward,” said Dr Vermaak.
“I’m excited about the prospects of our strategy which is vastly about how we can use digital capabilities to add value to the lives of our customers. This entails putting customers in control, providing more convenience, and extracting key customer insights from our rich data so that our products and services become even more innovative, relevant and easy to use,” said Dr Vermaak.
Dr Mgoqi-Mbalo, meanwhile, joins Standard Bank from Liberty and is herself a seasoned executive with over 15 years’ experience in short-term insurance and asset management across disciplines including strategy, human capital, and marketing and product.
Dr Mgoqi-Mbalo will be responsible for leading the strategy and continued expansion of the short-term insurance business within South Africa.
“We are pleased to welcome Nolwandle on board. Having her at the head of our South African operation is exactly what we need to further grow our short-term insurance offering,” says Dr Vermaak.
“At Standard Insurance Limited we pride ourselves on understanding our customers and pro-actively protecting what matters most to them. We are constantly adopting new methodologies and technologies that will help us change the way we do things to better achieve our purpose of customer-centricity. The elevation of short-term insurance to Group-wide universal status is beginning to do just that, and I look forward to embarking on this journey in strengthening our insurance offering across all regions of South Africa and Africa,” said Dr Vermaak.