29 May 2017

With barely three years in the insurance market, Alpha Direct Insurance dares to take a giant leap  against its competitors.

The local financial services  company target is to draw more clients under its fold through low premiums for motor vehicle owners who have insured their motor vehicles at higher premiums elsewhere.

On May 27, Alpha Direct chief executive officer, Mr Arun Iyer called for a level playing field in the insurance services sector and vowed to grow their portfolio by offering affordable motor vehicle insurance to clients.

Launching the Get 400 challenge, he said Alpha Direct challenged anyone who could beat their premium to come on board and claim P400 cash.

“We are confident that we can beat the existing insurance premiums. The era of Batswana paying for more premiums for motor vehicle insurance than they should is now over,” he said.

Expounding on the contents of Alpha Direct Insurance motor vehicle insurance policy Get 400 challenge, Mr Iyer said the concept was developed over a three year period informed by research which revealed that a vast majority of people were paying more premiums than they should.

He said the Get 400 was a challenge to the insurance market to ensure that clients benefit in the end.

“A lot of Batswana do not understand some of these insurance contracts that they get into and they end up not gaining much in the end. If you are paying more than P5 000 per annum bring your motor policy to us we will assess it and if we fail to beat it we will pay you P400 cash,” he said.

Alpha Direct Insurance assistant underwriting manager, Ms Fungani Chamunorwa said to realise this, they would assess each individual case on its own merits, examine associated risks and deliver accordingly within 12 to 48 hours.

“We practice the individual underwriting model. We engage the client and examine their track record and assess their information on an individual basis, if we fail to beat your premium we will pay you P400,” she said.

She reiterated that the short term insurance company, which is registered with NBIFIRA, had sophisticated underwriting systems to enable it to deal with individual clients cases succinctly and with swiftness.

Furthermore, the operations manager, Mr Khumo Phatshwane noted that Alpha Direct was accessible nationwide and offered direct service hence more value for clients.

He said their services were available nationwide at kiosks in all Choppies stores and in many other areas where the customer dealt directly with Alpha Direct rather than go through a broker or an agent.

“The customer does not need to go through an intermediate person as everything is done at the kiosk. It means savings for the client,” he said.

Furthermore, the company claims manager, Mr Admire Muntara said Get 400 challenge meant that for every insured motor vehicle they facilitated a quick turnaround time on claims for repairing of client’s motor vehicles.

“There would be no need for someone to bring three quotations which can be a tedious process especially when someone was involved in a car accident. We don’t repair car parts, but we replace your car parts and give it to you in the condition it was in. To enable us to achieve this, we use few selected workshops,” he said.

Alpha Direct CEO and co-founder, Mr Iyer got the challenge rolling this past Saturday. ENDS