Insure Guard launches new products
In a strategic move set to reshape the local insurance landscape, Insure Guard has introduced products designed to cater for the diverse needs of consumers and businesses alike.
The new offerings include Pay How You Drive, Pay As You Drive, Special Guard, Personal Guard, Commercial Guard as well as Legal Guard.
Insure Guard managing director, Kgomotso Ratlhaga, said as a way of positioning the short-term insurer as a market leader and demonstrating innovation, the company has tailor-made some of its products.
The move includes leveraging telematics technology, which allows for more personalised and potentially more effective coverage.
“The launch of our products is not a mere addition to the market, it’s a statement of our commitment to understanding and addressing the dynamic needs of our clients,” she said.
“We’re not here to fit into the existing mould, we’re here to forge a new one,” added Ratlhaga, highlighting the strategic vision behind Insure Guard’s product offerings.
According to the company, the Pay How You Drive policy bases premiums on an individual’s driving behaviour and patterns.
Through an installed telematic device in a vehicle, data on driving habits and behaviour is collected, including speed travelled, acceleration, braking, time of day, and distance travelled. The policyholder’s premium is then calculated based on individual driving performance, with those exhibiting safe driving habits benefiting from reduced premiums.
Another innovative solution-based policy that the company has introduced is the Pay As You Drive insurance policy. This auto insurance policy ties a policyholder’s premiums directly to the number of kilometres their vehicle is driven.
This model aims to provide a more accurate representation of risk, with lower premiums for individuals who drive less frequently. The policy offers a more tailored and flexible approach to auto insurance, aligning more closely with the actual patterns of individual drivers.
Another product is the Special Guard which provides a holistic coverage solution that goes beyond conventional auto insurance while the Personal Guard insures the homeowner’s valuable gadgets.
The Commercial Guard on the other hand provides security on the uncertainties of the business world and the Legal Guard one offers legal defence to our clientele.
“Insurance is not just a financial transaction, it is a pact of trust,” Ratlhaga added. “Our clients are entrusting us with their most valuable assets and aspects of their lives, and it’s a responsibility we take seriously. Our products reflect this commitment,” he noted.