RISK
31 January 2020
Gamechanger that offers clients peace of mind
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hen we meet our customers’ needs, we deliver results. This is the basis of sustainable success for any insurer. That’s why coming up with a solution that addresses the safety aspect of clients’ lives is good business practice. It indicates a willingness to partner with them to find ways to address their deepest concerns, says Etienne du Toit, Momentum Shortterm Insurance Chief Commercial Officer. In September 2019, Momentum Short-term Insurance introduced Safety Alert, an innovative emergency panic button linked to armed response units. It’s a move that has been well received by clients and financial advisers alike. Safety Alert transforms users’ cell phones into a panic button when they feel their personal safety, a family member’s or even a stranger’s safety is being threatened. Du Toit says many South Africans face crime or high-risk situations on a daily basis. “Monthly security fees can be prohibitive for many people, who are trying to stay financially afloat in clients has been incredibly positive. particularly trying economic times. “Out of the positive feedback we “Available on the Momentum have received, a few comments stand app, Safety Alert is a game changer out for me. One person said that the as it offers Momentum Short-term feature gives her tremendous peace Insurance Car and Home Insurance of mind, especially as she is a senior clients’ peace of mind at no additional citizen and lives alone. cost for a limited period offer,” he adds. “Another person was delighted The app is not solely for use with the service she received after at home, but can be used while her car broke down in Johannesburg driving or walking. It is supported one morning and left her feeling by a contact centre 24/7, 365 days unsafe. After using the new safety a year. Trained personnel respond alert function on the Momentum immediately when the panic button is App, she related how she received a activated, for safety or security related call from the centre within 10 seconds incidents. of activating the alarm and was Safety Alert accompanied is linked to by two security more than personnel ADVISERS ARE 1 500 armed within four DELIGHTED WITH THE responders minutes, RESPONSES THEY HAVE throughout waiting with her South Africa. until roadside RECEIVED FROM THEIR Activating it on assist arrived. CLIENTS REGARDING THE Her comment: a smartphone allows for the SAFETY ALERT FEATURE “From the immediate agent in the call pinpointing of a location and the centre, to the security guards, who dispatch of an armed response unit. only left after everything was sorted This cuts out many of the delays out – you guys did a wonderful job.” that are typically encountered when Safety Alert is one of several safety having to call someone, explain the benefits by Momentum Short-Term situation and give address details. Insurance to provide clients with Users must, however, ensure their peace of mind. Among others, it also location setting is active when offers HomeDrive and Momentum initiating Safety Alert. Assist, which are aimed at enhancing Du Toit says the response from personal, road and home safety. This
bouquet of benefits was developed to help Momentum Short-term Insurance clients avoid risk or minimise the impact if a risk event does occur. The Safety Alert feature fits well with HomeDrive and Momentum Assist and other solutions such as Safety Score and Safe DayzTM, which were launched in 2017. We believe in the importance of innovation and finding smarter ways to help our clients not only to be safe, but also to reward them for doing so. The Safe Dayz™ feature allocates points to clients based on their good driving behaviour and smarter driving choices or taking the Gautrain. Clients can get up to 30% cash back on their yearly premiums, even if they claim. Du Toit says financial advisers have voiced their delight with the responses they have received from their clients regarding the Safety Alert feature. “It is not only deemed an excellent value-add, but clients see it as a necessity, especially given the recently launched crime statistics.” He says Safety Alert is a strong selling point for financial advisers. “It supports the Momentum Short-term Insurance value proposition, which is underpinned by two main pillars – safety and convenience. “This year, Consulta South African Customer Satisfaction Index (SA-csi)
for Short Term Insurance identified Momentum Short-term Insurance as one of three insurers currently meeting customer expectations, giving credence to our ability to deliver on these brand promises.” He concludes by saying that Safety Alert offers an additional layer of safety to clients. “It speaks to client-centricity and addresses our clients’ need for convenience, real time channels, self-service options and overall peace of mind from us. Technology is the key enabler of this type of offering and insurers who don’t evolve and diversify will be out of sync with consumer trends.
Etienne du Toit, Chief Commercial Officer, Momentum Short-term Insurance
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