Finance News

Efinance Bank partners with Alvin Insurance to provide collateralized loan support to users

Efinance bank has partnered with Alvin insurance company to offer a range of Bancassurance solutions and collateralized loans to Efinance  Small and Medium-sized Enterprise (SME) customers across markets where Efinance bank operates. These customers will now benefit from the convenience of being able to access relevant solutions for all their insurance needs and also have access to collateralized loans.

The Bancassurance between the two parties will help provide customers access to an exciting array of products, loans, and services designed to suit their lifestyles. This means you get to enjoy all your usual banking services while also enjoying dependable insurance solutions and collateralized loans endorsed by a financial partner you know and trust. It’s the best of both worlds.

Efinance bank has additionally offered an array of programs to help individuals and business customers access collateralized loans depending on the customer’s circumstances. These actions will help limit the economic damage to every nation and spur the recovery to come.

We believe there is no reason why banking customers should get their insurance from somewhere else. This is a radical change. Previously, the idea was to define a penetration rate, and now the ambition is to move from one-off sales to capturing the full share of wallets and to say, “How can we show to every customer who is already banking with us that we are also the right partner to address their insurance needs and take up loans?” We want to democratize access to wealth management services, and loan services, bringing enabling tools to our advisers and regular customers—not only affluent or private banking customers.

Ferdinand Gibbs R., the founder, and CEO of Efinance bank said: “Adding a comprehensive suite of Bancassurance solutions, in partnership with one of the most reputable insurance service providers in the world (Alvin Insurance), makes us a one-stop financial services hub. Furthermore, the resilience of SME businesses is enhanced through the effective risk transfer that Bancassurance provides, while our solutions also offer our valued customers the satisfaction of knowing that they will have access to collateralized loans based on their needs.

The partnership between Efinance bank and Alvin Insurance offers short-term loan protection policies, long-term loan protection policies, disability insurance, life insurance, collateral protection insurance, and lots more.

Demand for Bancassurance services from SMEs and clients across our markets has been on the rise as individuals and businesses seek to shake off the effects of the COVID-19 pandemic by looking for solutions to cushion themselves from similar occurrences in the future.

Why the partnership with Alvin Insurance?

Alvin Insurance is a leading provider of insurance services committed to delivering best-in-class solutions to its customers. Over the years, Alvin Insurance has built a trustworthy reputation on a culture of integrity.

  • 60 years of experience providing life assurance, giving out loans, and protecting the assets of customers
  • A reputation for integrity and prompt claim payments within 48 hours
  • A robust online platform that provides end-to-end digital support. Our customers can buy and manage their policies virtually.
  • Similar corporate culture and long-standing relationship with Efinance  Bank ensure that services are delivered seamlessly.

How can Alvin Insurance help?

Our suite of insurance solutions is designed to help you hit the refresh button whenever those pesky perils show up to disrupt life’s flow.

Availability of Loan

Alvin insurance will ensure the availability of collateralized loans and will ensure that the loan processes are easy, fast, and with lower interest rates. Additionally, Alvin will also provide a certain form of collateral insurance if a person defaults after taking the loan.

Reshaping the Financial Institution

Alvin Insurance intends to reshape the financial service industry by providing the market with innovative value propositions, backed by forward-looking strategies and cutting-edge business models.

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