Embracing tech when insuring your stuff

Getting and managing short-term insurance is more transparent and accessible than ever, with everything done and shown in an app. 

This is a first for South Africa and the power lies in the proper use of technology. 

One of the most evident disparities during the lockdown period has been that between companies who employ the use of technology and those who don’t. 

While companies who are slow, or hesitant, to make use of tech are facing major challenges, those who are already using tech solutions are, for the most part, finding it easier to deal with the challenges posed by the current restrictions on movement.   

That is because they can function optimally as a business forced to work remotely, and they are in a better position to keep on providing services or products to their clients.   

Harnessing the power of technology

One such company is Ctrl. “Ctrl was built from the ground up as South Africa’s first digital insurance advisor,” explains Ctrl co-founder and CEO, Pieter Venter. “This is how we’ve been doing business from the start. There are three ways in which being tech-enabled has helped us and our clients in these unprecedented times, but also under more normal circumstances.” 

“Firstly, we can carry on servicing our clients and communicating with them as usual without interruption. We can negotiate with the insurers for discounts, help with claims or emergencies, answer questions about cover requirements and fulfil all the traditional broker functions without missing a beat.”

“Secondly, we’ve always had a part-time remote working culture, so the transition to working from home ‘full time’ during the lockdown period led to minimal disruption of our operations. 

“And finally, as a company,” Venter continues, “we use tech to function optimally by making use of cloud-based technology for everything from reporting, storing and analysing data to calculating risk and providing contextual information for the advisor to better serve our clients. This will only become more and more indispensable in future because there are just certain functions that should be automated since they are better performed by machines than humans. At Ctrl, we make the most of combining the two.” 

Combining the best of man & machine

Ctrl is an end-to-end insurance app. That means you can request and get up to 7 quotes from different insurers instantly to compare side by side (after completing only one set of questions). 

A comparison tool (with an actuarial algorithm) helps users to compare these quotes to each other. Ratings given are based on the underwriting questions answered, as well as a financial needs analysis, both done in the app whenever is convenient for the user. 

They can get advice from a real human (FAIS accredited) advisor at any time in the chat function and the final choice of cover remains that of the user. 

Unlike aggregators who provide indicative rates, Ctrl offers real quotes that can be accepted in the app. Once a quote is accepted, Ctrl becomes the client’s digital advisor offering advice, as well as assistance with claims and roadside or home emergencies. 

Time to make a mind shift 

This combination of man and machine brings convenience and more reliability to the process of getting decent, affordable cover with as little hassle as possible. No call centres, paperwork or face-to-face appointments needed. 

Getting and managing short-term insurance is now more transparent and accessible than ever, with everything done and shown in an app. This is a first for South Africa and the power lies in the proper use of technology. 

For more information, or to connect with Ctrl’s excellent team, go to https://bit.ly/33aYQKd

Scan the QR code on your mobile phone to download the Ctrl app from the App Store.

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