Old Mutual Iwyze & Pineapple Insurance to change how customers experience insurance… for good

Old Mutual iWYZE and Pineapple Insurance are excited to announce a new partnership that promises to shake up the short-term insurance industry by changing the way South African’s experience insurance. It’s an industry-first collaboration that’s here to disrupt the status quo.

Globally, collaborations between traditional insurers and ‘InsurTechs’ such as Pineapple are becoming increasingly apparent, motivated by the need for a more customer-centric service offering for consumers and their ever-changing needs. iWYZE and Pineapple therefore join forces to challenge the traditional insurance model by working together to provide their customers with an insurance option that is easy, accessible and completely digitalised.

The pairing of two insurance pioneers

iWYZE is part of Old Mutual, one of our country’s oldest and most trusted insurers, always protecting the things that matter to customers. iWYZE has the industry knowledge such as robust risk profiling and management and extensive underwriting on lock down, which is essential for this partnership. Newcomer, Pineapple Insurance, brings a fresh and unique answer to the insurance customer with an innovative and entirely digitised approach to insurance to give consumers affinity, fairness, transparency and simplicity. When you bring the strengths of each brand together and couple it with a healthy appetite for innovation and transformation, this alliance becomes a forceful and necessary agent of change.

Insurance expert at Old Mutual Insure, Christelle Colman, says: “Becoming the first insurer to own a drone, earlier this year, was a mammoth task for iWYZE and it’s an accomplishment that we’re proud of. Now that we have another opportunity to change the game, we’re excited to explore the endless possibilities. We’re constantly looking for ways to capture and unpack the customer’s needs and craft insurance solutions that meet them on as many levels as possible. Innovation is key – thinking out of the box and being solution-driven is how we will lead the market. Insurance with us must be easy, quick, convenient and affordable, and with Pineapple on board, we can confidently deliver on this promise.”

The new prospects for insurance customers

The iWYZE/Pineapple partnership will use innovative technologies such as artificial intelligence to introduce a new customer experience and use quality data analytics to enable more accurately priced insurance cover. The Pineapple app will give customers the unique capability to get cover in a snap of a picture – literally – customers will upload pictures of their insurable belongings on the app and within minutes they’ll be covered. On the app, customers will also have the rare opportunity to see exactly how their premiums are used and unused premiums will be returned to them. This means that iWYZE and Pineapple will not stand to profit by rejecting invalid claims – this is complete transparency and a massive leap forward towards transforming the industry and improving the general customer sentiment towards insurance.

“We are extremely excited for the partnership with iWYZE. It will enable us to offer more products and services to our customers in a reliable, efficient and trusted way” says Hugo Mouton, Chief Operating Officer of Pineapple.

iWYZE and Pineapple are leading the journey to an era where customers no longer have to imagine a world where insurance is truly simple, transparent and instant – this partnership makes it a reality. iWYZE and Pineapple look forward to refining the InsurTech model and helping curate what insurance of the future will look like.

Source: https://www.capgemini.com/news/world-insurtech-report-2019/