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Liberty provides an innovative short-term insurance solution

06 May 2019 Liberty

Building on the success of its car insurance pilot project, Liberty is now offering a comprehensive short-term insurance solution. It includes residential building, household content, personal liability as well as ‘on-the-go’ insurance cover. Liberty has developed a digital ecosystem to allow clients to engage on their own terms, 24 hours a day, 7 days a week. "Our clients are becoming more tech-savvy, engagement on our short-term offering can now be done via the Liberty Short-term Insurance App or on the Liberty website, using an innovative Chatbot,” says Suhail Gani, Divisional Director, Short-Term Sales and Distribution at Liberty.

"Our customers can now obtain quotes for the comprehensive short-term insurance offerings, conclude the policy initiation process, and access emergency assistance all through the app. An SOS button can also arrange an Uber drive home in the event of an accident, or dispatch emergency support if needed - at any time of the day or night," says Gani.

Technology is playing a major role in everyone's lives, and young drivers will be glad to hear that we have used technology to change the status quo when analysing their driving. Traditionally, younger people who are looking for short-term insurance have been penalised as a result of certain preconceptions about their behaviour patterns, particularly on the road.

“We've broken that mould by providing a two-week assessment of driving ability - conducted through the driver’s phone - and ongoing upskilling through our Driver Coaching Programme. The rewards are premiums discounted by as much as 30%, and Uber vouchers worth up to R400 a year. The assessment can be conducted annually in order to qualify for further discounts," explains Gani.

In addition, the assessment can be conducted either before or after purchasing a Liberty policy. This means that potential clients can get an accurate idea of what their monthly savings would be, were they to join the Liberty family.

In the next few months, Liberty also plans to develop a digi-scan capability on the App. This will allow users to scan their household contents, using their smartphones. The scan will then be used by Liberty to pull a provisional quote. The valuation will be based on pre-loaded data and analytics that are built into the App, alleviating client frustrations of time delays when waiting for an assessor to come out to complete an assessment of their household goods and content.

Liberty’s Short-term offering is underwritten by Standard Insurance Limited and compliments its advice offerings of financial protection and investment growth. “Liberty strives to provide the most comprehensive and innovative products for its customers and financial advisers,” says Gani.

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