MiWay launches with FSP Solutions
SA’s leading independent insurance portal for car, home and business insurance welcomes another leading brand to our comprehensive panel. As of next week the dynamic product offerings of MiWay will be available exclusively to all members at FSP Solutions. (MiWay products are underwritten by Centriq Insurance).
The MiWay products will be launched in two phases.
Phase 1 Members will have access to stand alone car insurance and combined car and home insurance options.
Phase 2 All other policy extensions such as all risk, specified all risk, trailers and the like will be added during phase 2 of the launch.
FSP Solutions has been mandated by MiWay and their underwriter to facilitate the full administration cycle on their behalf. This will include quoting, underwriting, issuing policies, premium collections, payment of commission as well as all policy amendments and general administration. We have outsourced the claims to ECA, our claims facilitation partner that already does claims administration for most of the insurer partners on our portal. Members will receive full commission and fees. All our members’ standard policy fee structure as per the other offerings at FSP Solutions has been loaded onto our system. The MiWay offering available at FSP Solutions will include our standard extended value propositions such as Emergency Assistance and ID theft. All new policies will be subject to our standard once off inception fee. Due to these added benefits and fees, partner rates may differ from rates obtained from MiWay directly. Our initial comprehensive comparisons unquestionably indicate that a very competitive product is now coming your way.
The data of your clients that are placed on cover at MiWay via our system will remain just as secure as your client data that has been placed via FSP Solutions at some of our other insurer partners that also compete in the direct environment. Please note that just as with some of our other partners that also deal in the direct environment, the MiWay rates may also differ slightly from the direct environment due to amongst others policy fees, and policy extensions. Our initial comprehensive comparisons unquestionably indicate that a very competitive product is now coming your way.
At the helm of MiWay stands seasoned insurance veteran René Otto and his team of insurance professionals. There is no doubt that their scientific approach to premium calculations and risk profiling will most certainly bring about many benefits to consumers and members alike.
All our staff has already undergone comprehensive training on the MiWay product offering. The integration of the MiWay product onto the FSP Solutions system required the addition of a number of new questions as part of their scientific approach. We will communicate these to you during the course of the week. All FSP Solutions system users must please note that all questions are to be filled in correctly for a quote to be generated via our system. Therefore please familiarise yourself with the follow-up mail in this regard. ITC scoring applies to this offering, so please obtain permission and then select the required field on the system in order to receive the best possible premium for your client.
FSP Solutions welcomes MiWay and we trust many thousands of satisfied consumers, including our members will benefit from this new relationship.
