In the wake of the COVID-19 pandemic, First National Bank (FNB) customers are turning to digital channels to meet their insurance needs.
The bank reveals its insurance arm, FNB Life, has reported a 22% year-on-year increase in customers taking up or maintaining their life insurance via its digital platforms.
FNB Life chief executive Lee Bromfield says: “COVID-19 has triggered questions about health and financial security among many families. As a result, since the beginning of this year, the number of customers showing interest in life insurance has been on the rise.
“We are particularly encouraged by our customers’ use of digital channels because this is core to our strategy as we aim to provide platform-based, cost-effective and convenient solutions for our customers. Similarly, we have also made good progress in becoming the life insurance provider of choice for FNB customers.”
Since receiving its life insurance licence in 2015, FNB