Sanlam Launches Online Salvage Bidding Platform
Africa Opportunities

Sanlam Launches Online Salvage Bidding Platform

Kampala, December 01, 2021Sanlam General Insurance Uganda, one of the leading insurance providers in Uganda has launched an online salvage bidding platform intended to provide ease of access to auctioning and bidding for their customers. The launch took place at their Head Office on Clement Hill Road.

The online bidding platform is aimed at easing the acquisition of salvaged items such as cars, electronics, among other things returned to the insurers as part of the claim after an unfortunate incident.

Speaking at the launch, Mr. Gary Corbit, the CEO Sanlam General Uganda said that “At Sanlam Group, we are committed to creating value consistently for our customers through delivering exceptional services and products through our operating clusters; Sanlam Life and Savings, Sanlam Emerging Markets, Sanlam Investment, and Sanlam Short Term Insurance – while doing so with innovation.

We have continuously worked to develop and position Sanlam as a pacesetter across the insurance industry in Uganda.”

“Oftentimes, salvaged items like cars, electronics, motorcycles amongst other things that are submitted to the insurer as a claim can still hold value as opposed to completely disposing of them for good with no further intended usage.

Additionally, as we advance to the new digital era, introducing an online salvage bidding process comes at an appropriate time as we aim to address the customers’ needs efficiently and effectively,” he remarked.

Corbit noted that “The new online bidding carries a number of benefits of which some include; eliminating unscrupulous third parties, it is an easy and quick process which reduces the disturbances that could have happened with the physical process.

It is also a secure way of making transactions as we have worked back-end to ensure that the bids placed are conducted in a safe manner to ensure security for the customer’s money,”

Edward Kasato the Manager Financial Analysis Insurance Regulatory Authority said that “As a country that’s is still incurring the after-effects of the global pandemic, and with physical interaction limited, the online salvage bidding platform comes as a great intervention in ensuring the safety of staff and all involved in the process of purchase – it answers the question of physical distance.”

He added that, before the COVID-19 outbreak, it was the norm to converge with different suppliers to auction off different items, but now we have to be cognizant of the potential threat that comes with doing things in a rudimentary manner – we, therefore, must engage in business-customer interactions that reduce the risk of spreading COVID-19.”

“To be able to establish a footprint in any industry, you must identify the problem and provide a unique solution that the customers can easily comprehend and take on.

With Sanlam Group’s commitment to investing in Africa’s potential, the introduction of online salvage bidding will not only set precedence for future auctions and bidding but also illustrate how important it is for insurance companies to adapt and tailor their services and products to suit the changing times,” Kasato narrated.

“I, therefore, would like to commend Sanlam Insurance Uganda for launching this platform. As the industry regulator, our priority is to ensure the safety of our people as we introduce new ways from which they can easily access the same quality services and products virtually,” he concluded.

While explaining how the site works, Donato Laboke the Head of Marketing and Channel Development Sanlam took guests through a step by step on how customers can access the salvage bidding platform through the available website.