Briisk has provided the technology to launch South Africa’s first fully digital funeral insurance which covers any family member belonging to one bloodline. The first-to-market innovative immediate pay-out life insurance, underwritten by Transact and Protect Insure (TPI), insured by Guardrisk Life, reinsured by Swiss Re and administered by Stay Sure Insurance Brokers, is powered by Briisk’s Instant Transaction Platform. The transaction platform allows Underwriting Managers (UMAs), Insurers, Reinsurers and Brokers to launch niche insurance products fast. Creation of a digital marketplace, as seen on Stay Sure’s www.funeralfundi.co.za is simple and fast with the Briisk branded white label user interface.
Briisk CEO and Co-founder, Hanno van Aarde, says, “We provide UMAs, Insurers, Reinsurers and Brokers with a fully hosted technology solution including API integration that allows digitisation of niche insurance products and creation of online marketplaces. Briisk ties together the Insurance Ecosystem and allows for instant and seamless insurance transactions.”
“In today’s digital world, products and services need to meet the customer’s demand. We spoke to the market and developed a unique insurance product that speaks directly to the customer’s needs. With this novel funeral product, the customer selects their age, sex and the cover amount for either an individual or the whole family - up to 25 people. Including the whole family bloodline replaces the traditional way insurers look at family; of what family is and what extended family is.” says Henk Roos, CEO and founder of TPI. Covers range from R 5,000 to R 75,000 and you can pay as little as R 10 per month to get cover.
UMAs and Brokers often have limited information about digital business models, end-to-end processes and technology or limited access to new online and mobile-distribution opportunities. Removing these limitations, Briisk’s end-to-end insurtech covers the entire insurance policy life-cycle, from policy issue to claims management, and communicates with policy holders at all touch points.
“Customers buy the funeral insurance on the Funeral Fundi web-site and also log their claims here. This end-to-end process is fully digital and seamless.” says Coert Knoetze, Managing Director of Stay Sure Insurance Brokers.
Ends
Regulatory Compliance:
Administered by Surestart Online Financial Services (Pty) Ltd, an Authorised Financial Services Provider, registered with the Financial Sector Conduct Authority (FSCA) FSP number 47233. Funeral Fundi applied for a license to be authorised with the FSCA.
Funeral Fundi is administered by Stay Sure Insurance Brokers (Pty) Ltd (Reg No. 9512577/07) & Funeral Fundi (Pty) Ltd (2018/377056/07)| Authorised Financial Services Provider | Member of the Financial Intermediaries Association (FIA) | Member of United Global Brokers | Financial Sector Conduct Authority (FSCA) License No. 2635 & 49694.
Hashtags:
#UMA #underwriting #innovation #digitisation #insurtech #fintech #digitalplatform #instantinsurance #digitalinsurance #e-commerce #affinitymarketing #funeralfundi #staysure
For more information, contact
Briisk Limited
Gordana McNamara
+44 1923 750310
+27 87 550 8011
gordana@briisk.co.uk
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