Guest Post | Advt. | Query: info@techrecur.com

Frost & Sullivan Commends Instant Life For Being South Africa’s First Online Life Insurance Provider


September 01, 2016 at 3:00 AM

Frost & Sullivan Commends Instant Life For Being South Africa’s First Online Life Insurance Provider

Instant Life offers fully underwritten life insurance by utilizing electronic underwriting and automating its business with a paperless model

MOUNTAIN VIEW, Calif. — September 1, 2016 – Based on its recent analysis of the life insurance industry, Frost & Sullivan recognizes Instant Life with the 2016 South Africa Frost & Sullivan Award for Customer Value Leadership. Instant Life is a low-cost, automated life insurance model that addresses the growing need for pure-risk life insurance. It offers cover for life, medical gaps, and funerals, as well as for people with work disability, critical illnesses, and cancer. Its paperless processes simplify claim processing by assessing the risk of a potential customer through an adaptive, computer-generated questionnaire based on applicants’ previous answers. As it is an online process, Instant Life’s platform is suitable for many markets.

Instant Life is the only life insurance company that boasts a complete online application process. The online applications and underwriting can be completed in just 20 to 30 minutes. This underwriting technology enables Instant Life to price its product aggressively by eliminating many costs. Furthermore, it does away with medical examinations for policies worth up to 6 million rand, making it easier for customers to obtain coverage.

“Improving upon the traditional broker model, Instant Life employs a multi-channel approach that makes policy application more efficient, expeditious, and appealing,” said Frost & Sullivan Best Practices Programme Manager, Danielle de la Mare. “Its first channel is call centres, wherein reps can talk directly to customers to discuss their specific needs. The second is Instant Life’s Internet portal where questionnaires are used to ensure that customer information is truthful, confidential, and secure. The third is face-to-face meetings with a representative.”

There are 55,000 combinations of questions that are generated based on the answer to the previous question. Potential customers will be sent a policy document via email immediately after the questions are satisfactorily answered and the risks are accepted. Instant Life also presents Medical Gap Cover customers with Text-a-Doctor (digital doctor), a short message service (SMS) platform that provides access to qualified medical doctors for confidential and trusted medical advice.

In 2015, Absa Bank a wholly owned subsidiary of Barclays Africa Group Limited,, bought a 75% stake in Instant Life, giving the latter access to its customer base. Before Absa, Instant Life made use of Guardrisk, an underwriter leader in cell captive business and alternative risk transfer solutions in South Africa.

“With an already established customer base of 15,000, Instant Life targets the ‘missing middle’ customer segment comprising 35- to 45-years olds who are underserviced by brokers and financial advisors,” noted de la Mare. “Instant Life also targets customers, such as small business owners, professionals, and wealthy people, living in very small towns. This missing middle is estimated to number 5 million.”

Additionally, the company is looking to disrupt the life insurance industry by providing wearable devices to its FitLife Cover policy holders. These customers can obtain discounts by sharing the number of steps taken and the number of hours slept each day. They are encouraged to use Instant Life’s FitBit activity tracker for six consecutive months to avail a 15% reduction in premiums. This way, Instant Life encourages healthy living in addition to easing the process of purchasing life insurance policies.

Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognizes the company’s inordinate focus on enhancing the value that its customers receive, beyond simply good customer service, leading to improved customer retention and ultimately customer base expansion.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About Instant Life

Instant Life set out in 2008 with the goal of using the latest technology to deliver life insurance products that offer clients peace of mind, simplicity, and value for money. Because it runs on efficient digital systems, Instant Life is able to offer customers savings of up to 30% of their premiums as well as generous cash benefits.  Customers can buy life cover and have their policies issued in under 20 minutes with no need for a medical examination. Instant Life’s Fitlife Policy comes with a Fitbit Flex™ Activity Tracker, offering discounts to users who simply track and share their activity for six consecutive months. In addition to offering convenience 24 hours a day, 365 days a year, Instant Life also gives customers access to a well-trained support team who can answer their questions about its life insurance products. Instant Life’s products are underwritten by Absa Life Limited. For more information, visit: www.instantlife.co.za.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

Source:Frost&Sullivan

Have any Question or Comment?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

……… .. …..

TRIO STEEL IS ONE OF THE MOST TRUSTED BRAND AND LEADING EXPORTER AND SUPPLIER OF CARBON STEEL, ALLOY STEEL & STAINLESS STEEL PIPES & PIPE FITTINGS MATERIAL. Triosteel is one of the leading Suppliers and Exporters of API 5L Pipe in Singapore. Triosteel also Exports to many countries like Indonesia, Iran, Saudi Arabia & many more. An API 5L pipe is manufactured by adhering to the specifications laid down by the International Organization for Standardization (ISO) 3183.

… …. ….. .

…… ……. … …

……… …. …….

….. …… ………

… …. ….. …

……. ….. …….

.. ……. …….. 0

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

.. ……. …….. .

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

……. ….. ……..

——————————————–

For the 2012 MLB period, we found an totals forecast Joao’s Renowned Over/Under João Zorro Gonçalves, Zcode Totals Pro, System of the time with progressions that have been successful over 98 98% ... We eventually perfected our over/under program ( Zcodesystemexclusive ), although it h-AS has brought years of investigation. Five Steps to Making a Winning MLB Method: 1. Execute appropriate cash management tools. 2. MLB rules that are comprehend. 3.Extensive testing back to make sure successful longterm results ...

——————————————–

There is always a challenge when you're dealing with the Foreign Exchange Market. That's just the nature of the beast. The best thing you can do is to learn about how the market operates as a whole so that you will be ready to meet these challenges. iq option penipu Never be misled by any profit gains in binary options. This is the number-one way traders end up losing their money and ultimately failing. Remember that the same things that make you laugh can make you cry in this market, and you can lose that $700.

——————————————–

Learning Polish has never been this fun and easy as with our podcasts Learn Polish with Polishpod101 Start today and become conversational in Polish in no time

——————————————–

The Best Website Agen Poker Resmi www.sakupoker.com Terpercaya come join

——————————————–

Do you need edmonton phone systems service ? Call complete communications today!

——————————————–

High-tech solutions for easy start-up of your IPTV/OTT-business

——————————————–

——————————————–

If you want to purchase not only one item, you have a chance to enjoy privileges. There is a sale’ tab on the site which offers a fantastic range of reduced counterfeit watches and accessories, such as sunglasses, cufflinks, watch straps and pens. Luxury Jewelry Replica At MCA.MN On Sale You get a 5% discount if you buy two pieces, this discount increases to 10% if you buy 4 pieces or more. There is free international shipping on all orders on this site. We also offer customers a free return anytime with a 100% money back guarantee.

——————————————–

… …. ….. ..