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Old Mutual collaboration delivers South Africa’s first pay-as-you-go journey insurance cover providing you with life cover, access to emergency medical services and more

19 October 2020 Old Mutual

Journey insurance cover for long-distance public transport commuters

Voooma journey insurance cover is South Africa’s first ever on demand cover for long-distance journeys by public transport. This cover offers protection to people who journey the length and breadth of the country, often without any form of insurance protection in the unfortunate event of an accident.

The introduction of this product is a result of an innovative collaboration between Old Mutual Group and a technology company within the Different Life Group. Voooma journey insurance cover is underwritten by Old Mutual Alternative Risk Transfer Limited.

Voooma journey insurance cover is a no strings attached cover; you only pay a once-off premium that provides life, disability and non-medical hospital cover for the duration of the journey. No monthly debit orders or lengthy contracts. The cover caters for access to emergency medical assistance, provides an income benefit on accidental disability, money towards some expenses whilst in hospital; and pays out to a nominated beneficiary in the event of accidental death.

Voooma journey insurance cover provides cover for long distance commuters travelling by bus, train, taxi and hired minibus; customers can get cover for a one-way journey. However, there’s also an option to purchase cover for a return journey once the initial trip is completed.

“The collaboration with Different Life Group is anchored in developing innovative solutions aimed at addressing customer needs. South Africa has very high levels of road accidents, this comes at a huge cost to the country and it’s also a financial risk to anyone impacted by an accident. This insurance, however, meets a specific customer need in that it allows long distance travelers to access journey insurance cover on an on-demand basis and protect themselves in the event of an accident while on their journey,” says Thembisa Mapukata; a GM in the Old Mutual Group focused on Mass Market Solutions.

Voooma journey insurance cover is easily accessible online via a mobile phone or desktop on www.voooma.co.za . Once on the site, the prospective traveler must provide the necessary travel details (date, origin, destination and return or single trip). Once all the necessary details are supplied, a quote is generated and on acceptance by the traveler, a premium payment is made and a policy number is issued.

According to Mapukata, the availability of Voooma journey insurance cover on a digital platform is to ensure the product is accessible from anywhere and at any time. “We ultimately want to put the customer in the driving seat, they decide the amount of cover they require based on their needs and affordability,” adds Mapukata.

“We value the importance of collaboration because it allows us to be innovative and agile when developing customer solutions. While the Voooma journey insurance cover product is a first to market, we will continue looking for ways to expand the range of products on offer to ensure customers continue to have access to cover that is affordable, convenient and simple,” concludes Mapukata.

 

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