Coert Knoetze, CEO, StaySure Broker
As the world moves swiftly, toward an increasingly digital lifestyle, which is impacting virtually all sectors of society, so will the expectations of consumers change.
InsurTech is the current fourth industrial revolution, digitisation is at the order of the day, computers are communicating without human intervention, autonomous vehicles, microchip implants, and machine learning robots, only to mention a few, all are here to stay… We are living the reality of smart factories and a new dawn of technological innovations.
At every conference, every Broker breakfast we attend, every insurance Magazine we open, InsurTech is mentioned. Conferences are being held around the Globe with InsurTech being the buzzword of late. Times are changing fast, even our strategic business Partners are using Apps and doing virtual sales to complement their distribution channels. “Trov” is heard of less and less but “Lemonade” is impressing the New York Stock Exchange. InsurTechs are popping up all over the world, in South Africa Hollard introduced us to “Naked”, Bryte went fruitful with “Granadilla”, Constantia came up with “Ja-Sure” now owned by Santam and “Pineapple” claims to be leading the way, what else will follow next?
Our own Brokerages will become more proactive and less time will be wasted if we embrace the technology InsurTech is delivering. For the first time, your technology will elevate your revenue with relatively very little human input required. But that is on the condition you do it well and adopt the correct technology to enhance your expertise. The network of computers is more efficient to share information, and capturing our data, than humanly possible, all there to assist the client at his fingertips… The true power of Revolution 4.0 is upon us, whether we like it or not.
A new opportunity has arrived which it truly ground-breaking, a reality checks in many ways catering to the expectations of the “new client”. But speed is of the essence, the expression “First come, first served” has never been truer, and our landscape has changed forever. How many Insurers are there prepared to support your initiative? It is a short term window of opportunity for Insurers and Brokers alike to use digital platforms and make it part of their value proposition. Doing so will set them apart from the competition and thus creating uniqueness in their offer. The self-explanatory concept of “being out there” from the origin, from the beginning, needs no elaboration. Don’t be oblivious to the challenges, embrace it and optimize the offer with a proactive approach… Make this revolution your own.
As Generation Y begins to invest in more insurance products as this generation matures financially, it will become increasingly important to appeal to this market in a manner in which they expect to be engaged with. The cherry on top was possibly Covid (C-19) and in our opinion, the aftermath of such will still be felt for many years to come.
Rethink Insurance
For more information contact your broker, or call Western.
Western National Insurance Company Ltd, affiliates of the PSG Konsult Group, are authorised financial services providers. (FAIS: Juristic Reps under FSP 9465)
Additionally, Generation X will favour a more convenient, digital means of obtaining and managing insurance, if presented with this as an alternative to current methodologies. Truck & Plant On-demand appeals to the needs and expectations of Generation Y and Generation X and this is the key motivator for us believing that this initiative will be highly successful throughout the world, the African continent and other emerging markets, not excluded.
At Truck & Plant On-demand we have captured the core of Short Term Insurance, the offer, the service, the support and the “promise we made”. We have learnt from practical involvement, we’ve been taught by our own mistakes and reproduced your the initiative, in one awesome Web Portal and Mobile App.
Truck & Plant On-demand is a Web Portal and Mobile App which can easily be changed and resemble any Broker’s or Insurer’s look and feel. Your own piece of InsurTech at a fraction of the cost. “Insurance-on-the-Go”, “On-Demand”, or “Pay-as-you-go” does not matter how you refer to it, it is On-demand insurance cover at your fingertips. You decide what you want to insure and how you want to insure… no more wasting premium where a fluctuating risk is rated at like the historical old, a fix rated policy.
We ventured on your behalf, combined our experiences, summarized the intention of the competition, requested the input of many and now we are ready to roll out and supply the need. We are there to support you, not only in the supply of this awesome Web Portal and Mobile App but also an alternative to the norm, one amazing business opportunity too.
We believe that our system design and service management framework, as well as our marketing strategy, provided in conjunction with leading associate experts in the digital insurance arena, is the most conducive to an all-round operational success. We are offering you Insurance on Auto-Pilot!