KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL

FANews
FANews
RELATED CATEGORIES
Category Risk Management
SUB CATEGORIES General | 

Mitig8 overwhelmed by positive support

03 December 2020 Mitig8
Mike Cannon, Director and Co-Founder at Mitig8

Mike Cannon, Director and Co-Founder at Mitig8

Mitig8, an insurtech business that launched earlier this year to offer a better, more consistent, and efficient solution to commercial property surveys, is finishing the year on a high. The company has welcomed five insurers onto its world-first app and has completed its first 100 surveys.

“We have 85 surveyors actively using the system across the country, allowing us to offer a truly nation-wide, localised service,” says Mitig8 director and co-founder, Mike Cannon. “Having a broad geographical spread means participating surveyors can be found in the area where the survey is needed, rather than having to travel from elsewhere. This saves the client a considerable amount of money per survey.”
The Mitig8 app was in development for 18 months and launched in March 2020.

“What is rewarding, looking back on the dev process and the nine months since we launched, is that our end goal of providing better, more consistent, faster surveys to the industry is being achieved,” says Cannon. “We identified a problem and what we see now through feedback from our clients is that this problem is being solved.

“Even more exciting is how the data being captured onto the system with each survey is starting to show huge value in how risks can potentially be better underwritten in future. The potential for each underwriter is incredible when this data reaches a tipping point and can start to be used for very smart reporting internally.

“A special thanks to our founding partner, Lombard Insurance, who took a leap of faith and backed us before we had a positive track record or proof that the system would work. Lombard is a business that holds partnerships at the core of its corporate values, and we are so grateful for the partnership we have experienced with the team to date.”

Cannon says the future looks rosy.

“With 100 successful surveys completed we are optimistic that 2021 will bring great evolution in the way that survey reports are used for active risk management.”

Quick Polls

QUESTION

The Budget Speech 2021...

ANSWER

Certainly taxpayer-friendly, with tax increases being kept to a minimum
Realistic and in accordance with my expectation
Is welcomed news and will go a long way to bolster the economy and South Africa
I have mixed feelings… cutbacks and reprioritisations in government spending pose a significant risk and will come at a cost
Oh no! What about our booze and tobacco! Higher sin taxes
fanews magazine
FAnews February 2021 Get the latest issue of FAnews

This month's headlines

FNA VS Compliance: Advisers still tripping up on section 8(1) of the Code!
Taking the lessons of 2020, into 2021
Motor insurers take note: Replacement parts cannot compromise an insured’s safety!
The broker’s dilemma: Courts lambaste non-life insures for business interruption shortcomings
Leading experts warn the world about the dangers ahead
The world of work 2021… smarter, faster, simpler
Trends that will shape the life insurance industry going forward
Subscribe now