By: Root CEO Charlotte Koep and RCS's Glenda Eager

The RCS Group, one of South Africa’s leading consumer finance businesses, has launched a range of insurance products on digital insurance platform Root.

RCS offers consumer finance products, including store cards, loans, and credit cards under its own brand, along with white-label offerings for several South African retailers.

“As a key player in the South African credit market, we are continually influenced by economic shifts and the evolving credit landscape. To meet the changing needs of our customers, RCS has recognised the importance of expanding our services beyond traditional credit offerings,” says Glenda Eagar, Executive: Product & Marketing at RCS.

This move aligns with the company’s ongoing commitment to digital transformation, diversification, offering accessible choice and improving the customer journey.

Enhancing customer offerings through diversification

“RCS wanted to implement a technology-led digital insurance administration platform with the flexibility to achieve its ambitions now and into the future,” says Charlotte Koep, CEO of Root. “It now has a fully digitised system with a customer-focused ability to sell and administer insurance policies that includes claims management, processing and payments. The Root Platform also ensures compliance with all regulatory requirements.”

To date, RCS has launched four insurance products on the Root Platform. These include card protection, funeral, personal accident and comprehensive protection plans. The company plans to migrate its full insurance book onto the Root Platform.

Seamless customer experience

RCS’s focus on enhancing the customer experience is a key driver behind this initiative. The new digital insurance platform offers the flexibility to scale quickly and adapt to the diverse requirements of RCS’s customer base. This ensures continued delivery of market-leading products while maintaining a seamless, frictionless experience for customers.

“It had to have the flexibility to offer market-leading products, make modifications to the various components of the insurance offering, and integrate an array of diverse components. This will allow us to expand our insurance offering in non-traditional ways,” says Eagar.

For example, RCS provides dynamically priced insurance products to a broad range of customers and gives them the choice to pay their premiums via debit order or on their store card.

Accelerating digital transformation

“Our goal is to offer a fully digitised system that not only meets regulatory requirements but also enhances our ability to serve our customers better,” adds Eagar. “This platform allows us to deliver a seamless experience across all channels, whether in-store, online, or through telemarketing.”

As RCS continues its transition, the company remains focused on leveraging technology to drive growth, enhance customer experiences, and solidify its position as a leader in the financial services industry.