Mutual & Federal leads the way in personal insurance policies with allsure

Mutual & Federal, a member of the Old Mutual group, has announced the launch of its enhanced allsure personal insurance policy. As the company’s flagship product, allsure offers comprehensive cover, flexible options and value-added benefits for clients at a competitive rate and in clear, simple language.

“The allsure makeover is a result of many months of hard work and commitment,” says Peter Todd, Managing Director of Mutual & Federal. “Our team crafted a product which is innovative and is of the highest quality. At the same time, allsure complies with the regulatory and governance requirements of our industry.”

What might resonate the most with clients and intermediaries is allsure’s pricing overhaul. The new rates are extremely competitive, having been leveraged off cutting-edge pricing techniques and technology. Impressively, the revised pricing allows for greater differentiation between allsure policyholders, where premiums are more closely aligned to each individual’s own personal risk profile. “Quite simply, if you are a better insurance risk, you are charged better prices,” explains Todd. “Our risk-based rating approach means that we treat our clients fairly and acknowledge their individual circumstances. Thus policyholders get better value for money.”

Although much of the allsure personal insurance policy has been revised, Mutual & Federal also elected to keep the value-added benefits that their current allsure clients were familiar with. These benefits include Swiftcare, a 24-hour, 365-days-a-year service for roadside, home and medical assistance; Swift Accident Management Solutions (SAMS), a towing service which will take policyholders’ vehicles to the nearest Mutual & Federal repair centre in the case of an accident; and the Critical 5 HIV Prevention Plan. This plan offers immediate medical assistance and preventative treatment for accidental exposure to HIV in the event of a motor vehicle accident, rape, assault or other exposures.

But one of the most obvious enhancements to allsure is within the wording of the policy itself. As Todd explains, “New legislation and industry requirements such as the new Consumer Protection Act, Policy Protection Rules and the SAIA Code of Conduct played an important role in shaping the new and improved allsure. These regulations require that all policies be written in language that is clear and easy-to-understand, less technical and unambiguous. This ensures that our clients are fully aware of all the benefits and potential limitations of their insurance policies, which ultimately facilitates better communication with them in the long-term and improved claims processes.”

With its superior pricing, enhanced cover, impressive value-added benefits and clear wording, allsure seems set to lead the way in the personal short-term insurance market in the near future. As Todd concludes, “Mutual & Federal is extremely proud of this product and believe that it is a unique offering which responds to the evolving needs of the insurance market in South Africa.”