Unity Insurance Launches Business Insurance Offering

This month, Unity Insurance, South Africa's first truly Black Empowered short-term domestic underwriter will extend its 360-degree short-term insurance solution to include a business insurance product which has been specially tailor-made to meet the needs

According to Simon Phage, CEO of Unity Insurance: "Our new business insurance product covers 24 different types of SME's in South Africa, which are in turn divided into four main segments. We have created a specially-tailored product for each of these four segments, providing cover relevant to the needs of the businesses that fall within that category." 

The four market segments identified by Unity Insurance are business, office, practice and professional. Each product contains the correct combination of traditional policy sections to ensure that a small or medium business is adequately looked after from an insurance point of view. This means that there are no superfluous or irrelevant clauses and features, which ultimately means that there are no unnecessary premium costs. Refreshingly, the policy wording is also in plain English, so clients will not need a legal degree to understand the terms and conditions of their policies.

Comprehensive cover includes fire, business interruption, office contents, theft, money, glass, electronic equipment, portable business possessions, public liability, goods in transit, motor, accounts receivable, fidelity guarantee, personal accident, employers liability and accidental damage. Clients can buy basic cover with the option to top up their cover as and when they wish to. In addition, Unity Business Insurance offers a range of Assist products.  These products include free Roadside, Medical, Trauma and Legal Assist.

Unity's business insurance clients will also benefit from the Siyabonga Bonus, which offers clients their first years premium back, or 25% of the total premium paid, whichever is lesser, after a four year claim-free period.

Phage notes that the Unity business insurance product has been developed to simplify the quoting and administration process for brokers who sell business insurance.

"Our call centre ensures that brokers can receive instant telephonic quotes, plus all claims and policy administration is done telephonically. This quickens the entire process and enables the brokers to provide a far more efficient service to their small business clients," adds Phage.   

Phage concludes, "We offer highly competitive rates to business owners, as we understand that, in a small business, every cent counts!"