PPS Short-term Insurance serves members with enriched value proposition

PPS SHORT-TERM Insurance has introduced an enriched and differentiated “private client” service experience to its time-scarce members in the professional market that improves the service experience.

“We are acutely aware that the short-term insurance industry, both locally and globally, is undergoing significant shifts as the impact of Covid-19 continues to drive behaviour change and needs in the area of motor vehicle and home insurance, especially when it comes to simplicity and flexibility,” says Werner Bosman, CEO of PPS Short-Term Insurance.

The Future of Motor and Home Insurance – What do customers want? - a report compiled by Deloitte, following a survey conducted in October 2020 among 8 000 customers from eight countries (Australia, Canada, China, Germany, Italy, Japan, the UK and the US) - identified core insights that will help the industry to grow.

These include:

• Customers favour simplicity. They want products that are easy to understand, purchase and use. They also want to be confident that they are paying a fair price and that claims will be paid fairly.

With this insight, insurers can use a human-centred approach to redesign products and exceed customers’ expectations. • Insurance embedded into other services and in new product designs is strong in some customer segments, but varies considerably by country. • Internet-connected offerings, such as motor telematics and home insurance linked to home sensors, cause apprehension among many customers. They do not feel comfortable sharing data from car and home sensors with insurers. • The Covid-19 pandemic is increasing demand for adjustable cover and pushing people towards transacting via online channels. This behaviour is unlikely to revert to pre-crisis norms for many people.

“This is also coming through more strongly among our members, who are seeking value enrichment and innovative self-service options in managing their short-term insurance policies and products,” adds Bosman.

“We recognise that time, convenience, privacy and simplicity are important for professionals who rely on a superior value offering.

“The private client service experience is aimed at creating exceptional engagements with our members, and the first of our innovations is in the area of concierge services - one of the key trends, along with personalisation, that has been identified for the industry.”

“PPS Concierge Services is the kind of differentiation that our members – the graduate professional market – expect as private clients, as it places control in the hands of the user through innovative self-service offerings.”

Members of the PPS group who also have short-term insurance through PPS Short-Term Insurance, will have access through a bespoke app to not only view their policy information, request amendments and submit claims easily, but also to access unique concierge services. The beneficial services include security services such as identity theft alert, which gives members a “heads-up” of potential breaches and a panic button that gives them 24/7 assistance, should the need arise. Members also have access to a vehicle licence renewal facility and six chauffeur trips a year.

“Innovation in serving our members remains at our core and we will be keeping a close watch on shifts in the short-term insurance space, both locally and globally, to ensure we continue to deliver unique solutions to our graduate professional members,” explains Bosman.

PPS Short-Term Insurance provides its unique customers - graduate professional members - with specialised, tailored short-term insurance solutions that address the specific needs of the professional market. The unique edge is that it operates under the ethos of mutuality.

This means that members holding qualifying products get to share in the profits generated by the PPS group.

About PPS Short-Term Insurance

PPS Short-Term Insurance is a wholly-owned subsidiary of PPS Group, a financial services company that provides a comprehensive suite of financial and healthcare solutions exclusively to graduate professionals.

PPS Short-Term Insurance provides tailored products and services for professionals, and their practices. Our insurance offerings include a number of benefit-rich cover options for motor, house and business. Members with qualifying PPS life risk products receive Profit-Share.

Additionally, PPS Short-Term Insurance members enjoy complimentary value-added services that includes PPS Concierge Services, designed with the professional in mind and accessible on the PPS Short-Term Insurance app. Visit https://www.pps.co.za/protectinsure/carhomeinsurance for more information.

PPS Short-Term Insurance is a licensed Insurer and authorised FSP.