Following the successful acquisition of Momentum Insurance, previously Alexander Forbes Insurance, by Momentum Metropolitan in July 2019, the group has successfully completed the final step in the process of integrating it with its existing short-term insurance business: Momentum Short-term Insurance.
Although the two businesses have been operating separately under two different identities and offerings since the transaction became unconditional in January 2020, the intention has always been to integrate the businesses into a single entity and insurance license under the Momentum brand.
Says Brand Pretorius, CEO of Momentum Insure: “We created a new strategy, brand, market positioning and operating model for the integrated business to better meet the needs of shareholders, clients, intermediaries, staff and other business partners.” According to Pretorius, it took months of hard work to combine and improve products, reimagine the brand and customer value proposition, integrate various teams and develop new systems. “The business is now at the dawn of a new chapter where both entities will come together under one banner and under one licence. Today, we celebrate the joining of two forces and the launch of the integrated entity called Momentum Insure,
” Pretorius says.
Momentum Insure is a meaningful player in the short-term insurance market and provides solutions to individuals as well as small and medium-sized businesses. The improved product offering provides many options and great benefit flexibility, allowing intermediaries and clients to develop solutions based on their personal and service preferences.
From today, Momentum Insure’s bouquet of products will be available to new and existing clients, along with a variety of new benefits and rewards. One of the new benefits, as an example, is their new enthusiast cover, aimed at clients who take their hobbies such as cycling or photography seriously. Momentum Insure clients will also get access to a comprehensive safety value proposition, which includes Momentum Safety Alert, a mobile panic button, Safe DayzTM, an app-based telematics solution that rewards clients for safe driving, and the Momentum Safety Bonus, where clients can get up to 30% of their premiums back annually for displaying safe behaviour, even if they claim.
Momentum Insure is here to keep its clients safe on their journey to success. “We believe this feeling of safety and peace of mind will give our clients the confidence to achieve what they want from life, without being encumbered by worries of what might happen. By entrusting us with the safety of their possessions, our clients can go about their daily lives and strive to reach their personal and business goals, while feeling safe, secure, and well taken care of. That is Momentum Insure’s ultimate aim,” Pretorius closes.
For more information check out www.momentum.co.za
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