The South African insurance industry is being disrupted by Click2Sure – the first company in the country to digitise the distribution, administration and management of insurance. Launched by successful serial e-commerce entrepreneur and Groupon co-founder Daniel Guasco, the digital insurance platform is revolutionising the way consumers insure.
In the past insuring your valuables, life, medical care, credit and income was a confusing and complicated experience. Despite insurance offering peace of mind, the process was filled with brokers recommending a variety of puzzling and potentially costly options, signing pages and pages of documents, submitting piles of paperwork just to update your details and having to contact call centres to claim during working hours only. There was also all the admin involved when it came to needing repairs done on damaged items. Now you can cut all that out with the click of your mouse.
Guasco explains: “With Click2Sure, we have simplified the processes, and limited the documents and human intervention required, that go together with traditional insurance offerings and have replaced them with a simple, completely customer-centric offering. As a result, we have been able to make insurance more affordable for the consumer.”
The Click2Sure team has worked closely with a range of insurers to co-develop over 20 lines of specialised long- and short-term insurance based on market demand, covering everything from life, medical and public liability to credit risk, cyber theft and musical equipment. These provide protection against loss, accidental damage and/or extension of warranties and are available in three or more different pricing options to suit an array of pockets. In addition, Click2Sure enables customers to either make once-off or recurring payments depending on time frames, the value of the item or their needs. For instance, clients can insure their lives for the duration of a potentially risky event / trip only and won’t have to pay for a long-term life insurance policy.
Click2Sure has partnered with a mix of retailers and third party service providers, both online and off, allowing consumers to get immediate cover on items like cellphones, handbags, hearing aids and bicycles at the point of sale. The company has also simplified its policies into one-page, customer-relevant and easy to understand digital documents.
In addition, by automating the admin process, clients can create an account and quickly and easily insure items online. They select the particular product to be insured, fill out a short form, submit the application and securely make a payment. To manage their policy or edit their details, they can do so simply by logging in. What’s more, they can access their account via mobile phone for on-the-go administration and management.
To lodge a claim, clients sign into their account, click the claim option and upload the necessary documents. Where repairs are required, Click2Sure’s partnerships with service providers enable true convenience.
“By putting the customer first in every aspect of our offering, we believe that we can easily achieve our aim of becoming the largest digital distributor of insurance in emerging markets,” concludes Guasco.