Industry first launch of life cover that generates wealth
January 12, 2020
This week, Indie launched in South Africa – a 100% digital insurer that focuses on creating wealth while offering customised cover – all in under ten minutes. In a world where consumers have instant access to services like Uber, Netflix, Airbnb and a plethora of retail offerings offering instant gratification, it’s not surprising that the current insurance landscape leaves most South Africans frustrated and confused.
“Nobody likes to think about their mortality, and many South Africans don’t recognise that they actually need insurance. So when it comes to choosing between spending on something that gives you instant gratification, or insurance… insurance often loses,” says Peter Castleden, Chief Executive Officer at Indie. With Indie Life Insurance, 100% of your monthly premium into placed in an investment that creates future wealth.
Life insurance can be difficult – but not with Indie
Castleden says that insurers have made it difficult to actually buy life insurance. “A mix of complicated jargon, levels of unnecessary complexity and sometimes ridiculous hoops that consumers are made to jump through almost make it seem that insurers don’t really want to sell their product to you.”
Off the back of this, Indie has taken shape. We’re not simply disrupting the industry, but rather returning to first principles,” says Castleden. “We’ve gone back to core principles, and designed everything again the way it should be, coupled with the fantastic enabler which is technology. We’ve reinvented life insurance and we’re hoping to enable people to focus on building their best lives – not prepare for when it’s all over.”
Castleden says that the model includes flexibility that adapts as the customers needs do. “Indie offers the best for any budget – and importantly, doesn’t lapse if a premium payment is missed. We understand that life happens, and sometimes circumstances prevent you from meeting all of your commitments.”
Not just life insurance from Indie
Life insurance is just one of the Indie products – the online offering also includes disability cover, critical illness cover, funeral cover, death income protection and income protection should you be unable to work. “Indie offers world-class, customised cover, and an investment – all in under 10 minutes.”
For more visit www.indiefin.co.za.
|Insured in under 10 minutes||√||X|
|Multiple penalty-free premium skips||√||X|
|A linked investment account||√||X|
|Online, automatic risk assessment||√||X|
|Three months to do medicals***||√||X|
|Everyone gets the new stuff****||√||X|
|Will offer products even with existing, declared health problems*****||√||X|
|Manage your products online******||√||X|
**Fully covered before you’ve provided medicals or paid your first premium.
***Medical tests only if randomly selected, and we’ll come to you.
****Everyone gets all the new stuff as we release it and, when premiums reduce, everyone benefits.
*****Some other providers only accept the best, healthiest lives and turn others away. At Indie, everyone qualifies for at least 4 different benefits.
******No broker or call centre needed to make changes to your products and beneficiaries; do it yourself online.
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All info was correct at time of publishing