Insurance123.co.za

Centriq Reviewed

admin — Wed, 16 May 2012 03:03:03 +0000

Centriq can only be described as one of the few new age companies operating in the insurance sector within South Africa. The company itself states and backs with modern products its claims that it takes pride in being able to provide the South African market with new and evolving trends in the insurance sector. Customer services are at the core of the company’s business philosophy which also proves that the company does focus on emerging trends, not only in the insurance sector but client servicing of every sector.

Centriq also has the distinction of being the first black empowered company operating in the risk assessment and management industry. It is worth mentioning that Centriq is backed by Sanlam and Kagiso as both these industry giants are its majority shareholders. There are primarily three product groups that Centriq plays with. Here is a list.

1. Risk financing insurance:

Risk financing insurance products can be described as the bread and butter of Centriq. Centriq tries to find the perfect solutions for its clients with regards to risk financing solutions for its clients by customizing the solutions to suit their specific needs.

2. Affinity insurance:

Affinity insurance products are mainly risk insurance solutions targeted at shareholder groups. In other words, through affinity insurance, large groups of people that share common attributes between them can find collective insurance. The idea is basically that shareholder groups tend to share the risks between them, which is why a collective risk insurance solution may be ideal for them. The company’s mandate is to focus on such groups and give them risk insurance solutions that fit their specific requirements.

3. Consumer protection insurance:

Consumer protection insurance products are ideal for poor economic conditions in the industry. These types of products are primarily used by businesses that have a large customer base and provide protection against bad debts. The end result of such insurance products is that the customer and the business both become protected.

Centriq can be expected to cope with the changing economic climate within South Africa and continue to provide insurance products that are ideal for businesses of various types in various industries with various prospects.

http://www.centriq.co.za/index.htm

Budget Insurance Brokers Reviewed

admin — Tue, 15 May 2012 02:50:02 +0000

As the name suggests, Budget Insurance Brokers’ primary business strategy is to bridge the gap between demand and supply in the market for affordable insurance policies. However, the company, while focusing on providing highly affordable insurance policies, also makes sure that the end user does not have to compromise on quality of the coverage that each of its insurance products provide.

In fact, this premise is also evident in the company’s punch line which says ‘cut the cost not the cover’. It is also worth mentioning that Budget Insurance Brokers has received acclaim for the work it has done in the South African insurance sector. In the year of 2004, the company was awarded the Most Trusted Short Term Insurance Brokerage by Business Trust Barometer.

There are primarily three different types of insurance products that Budget Insurance Brokers provide and these include vehicle insurance, buildings and contents insurance and business insurance. Consider the following:

1. Vehicle insurance products:

Budget Insurance Brokers provide insurance products for various types of vehicles such as cars, motorcycles, caravans, trailers and watercrafts. There are various types of insurance products for each type of vehicle such as comprehensive policies which provide a detailed cover for a wide variety of things, third party, fire and theft only policies that only cover the things mentioned in their name and the third party only policies that only provide protection from third party damage claims.

2. Buildings and contents insurance products:

Buildings and contents insurance products are usually of two types i.e. buildings only policies and home contents only policies. As is obvious, while the former covers the structure of the home, the latter focuses on things that are inside. The features for both are extremely detailed which is highlighted by the fact that home contents policies even provide cover for the liability related to the death of domestic help.

3. Business insurance products:

The business insurance products of the Budget Insurance Brokers are usually offered on a case by case basis wherein the policies are tailored to suit the needs of the business owners.

Budget Insurance Brokers is the one stop shop for affordable and financially viable insurance products.

http://www.budgetins.co.za/

Allianz Reviewed

admin — Mon, 14 May 2012 01:44:42 +0000

The credential of Allianz as a company cannot be doubted simply because of the fact that it is an international company that has proven its mettle in various countries all over the world. The company is a part of a global group that operates in multiple sectors such as international banking, investment and financial services spanning 70 different countries.

South African Allianz is a directly owned company and primarily focuses on business insurance products. The clients, themselves, when dealing with the company have the option of either being insured with them or their international big brother. Effectively, the company does well with customers who are based in South Africa but have an international sphere of influence.

As is the wont of such large international companies, Allianz deals with all types of insurance products in various sectors. Even so, the company is particularly strong in the property insurance segment across various industries and sectors such as marine and engineering insurance or even liability insurance.

Even though the company primarily focuses on its insurance products, it also plays in the asset management and risk assessment arena. As is obvious, the risk assessment services of the company have close ties with its insurance services. As a result of this synergy between different services, Allianz is able to provide services that combine both risk assessment and management and providing insurance as solutions. Furthermore, other services such as risk transfer and risk financing are also offered by Allianz.

Along with this, there are also various other insurance options such as personal insurance and liability insurance for senior management of businesses. These options are particularly useful for listed companies. Here is a list of the insurance products provided by the company.

1. Engineering insurance
2. Property insurance
3. Aviation insurance
4. Marine insurance
5. Business liability insurance
6. Risk consulting
7. Alternative risk transfer
8. Risk financing
9. Personal liability insurance for company office bearers

Allianz enjoys the support of its internationally renowned big brother and, hence, has been successful in its insurance industry endeavours in South Africa. The company has also been operating in the country for some time and, as a result, has built up a good base.

http://www.allianz.co.za/

ABSA Insurance Reviewed

admin — Sat, 12 May 2012 06:03:48 +0000

ABSA, as is known all over the country, is primarily a bank. However, even though ABSA, which stands for Amalgamated Banks of South Africa, is one of the most prominent banks in the country, it also provides the full range of insurance products.

The ABSA insurance products are primarily provided by a special ABSA division known as ABSA Brokers. As ABSA Brokers is more than just a brokerage or a direct insurance provider, it has the ability to provide solid financial advice along with its insurance policies. Here is the full range of insurance products that can be found under the heading of ABSA insurance.

1. Personal insurance products:

Within the personal insurance category, you will find a wide variety of insurance policies such as vehicle insurance, home insurance, insurance for women, property insurance, portable possessions insurance, watercraft insurance and even accidental death cover.

2. Absalutely woman insurance products:

Absalutely woman insurance products are insurance products that have been categorically designed for the fairer sex. Specially formulated women insurance policies in this group of products include household and motor policies in addition to assistance products such as legal, motoring, breakdown, emergency, hospital, medical event and even a special product dealing with maternity and motherhood.

3. Travel insurance products:

Within the travel insurance products group of ABSA insurance, you will find the basic travel insurance policy, the top up travel insurance policy and the travel insurance policy for seniors.

4. Life insurance products:

ABSA insurance also provides life insurance products but looks to tailor these specifically for each and every customer.

5. Business insurance products:

The operations of the business insurance products of ABSA insurance is similar to life insurance products in that the policies are specifically customized for each client.

6. Industrial insurance products:

Industrial insurance products follow the same pattern as the two groups of products mentioned earlier.

7. Planning products:

ABSA insurance also offers two separate categories of planning products, namely retirement planning and investment planning. Both of these are tailored according to specific requirements.

ABSA insurance products are vast and can handle almost every insurance need any individual can have. The range of ABSA insurance products is enhanced by the reputation of ABSA insurance.

http://www.absa.co.za/Absacoza/Individual/Insuring/All-Inclusive/Absa-Advisers

Allan Gray Life Reviewed

admin — Fri, 11 May 2012 06:00:56 +0000

Allan Gray Life is a company that is registered separately from the parent company of Allan Gray that deals in asset management services. The parent company boasts of an almost flawless record in terms of bringing its clients high returns from chosen portfolios. The specialty of the parent company is to consistently pick out right areas to invest in. In effect this, experts say, is an ideal set up for Allan Gray Life to succeed.

Allan Gray Life, while being a 100 percent subsidiary of Allan Gray, has an affiliation with the Orbis Group for its offering of life insurance. The company primarily offers one product that can be described as corporate and institutional life insurance. Within this insurance product, the company tries to support the ideas of corporate pension and provident funds on the back of a highly affordable but effective concept of pooled portfolios.

The result of the pooled portfolios concept is simply that it allows corporate entities and institutions of a smaller size to participate in segregated investment management. Normally, segregated pension and provident funds tend to require their participants to have a minimum investment of R500 million. However, the linked fund system allows this minimum investment limit to be brought down to only R20 million, which makes the corporate and institutional life insurance product of Allan Gray Life very attractive for smaller companies and organizations.

Within the category of the corporate and institutional insurance product, there are three options open to potential investors. These options are defined on the basis of the risk levels that they offer. These options include the absolute risk wherein returns are high but so are the risks, the balance risk which is a balance of both return and risk and the stable risk, wherein the focus is on keeping the investment risk free at the cost of returns. The investment is made in a wide variety of assets such as money market assets, bonds, listed property assets, foreign assets and even equity.

As mentioned earlier, Allan Gray Life insurance products are perfect for corporate entities and organizations that wish to have segregated pension and provident funds but are unable to come up with the minimal investment requirements.

http://www.allangray.co.za/

All Life Reviewed

admin — Fri, 11 May 2012 05:56:11 +0000

All Life insurance is a company that mainly focuses on niche insurance sectors. It is a company that emphasises the importance of individual and personalised customer service in conjunction with insurance products that have a high niche in the markets that they target. In effect, All Life looks to provide personalised insurance products as against generic insurance products fit for every type of individual. In fact, All Life is one of the first insurance companies in the world to provide comprehensive life insurance products for people living with HIV or AIDS. In addition to this, the company also provides life insurance products for people living with diabetes.

Also, All Life acts as a life insurance administrator with regard to generic life insurance policies. The life insurance administrator work is done on behalf of the insurance provider known as Centriq Life. The majority of the products offered by All Life are designed to be financially viable for the HIV and AIDS patients all over the country. The All Life insurance products also have the distinction of being linked to various health management education programmes. The primary objective of these programmes is to assist policy holders in bettering their lives by managing health and lifestyle related issues. Here is a list of all the products provided by All Life.

Life assurance for HIV / AIDS:

Within this category there are two products, namely Advantage Term Life which lasts for 10 years and Advantage Whole Life, which is for the full life. The former is aimed at helping dependents.

Loan protection insurance:

The loan protection insurance products of All Life consist of Advantage Loan Protector Life for HIV and AIDS and Essential Loan Protector for diabetes. The products are designed to provide cover for debts.

Disability insurance for HIV / AIDS:

It is possible for policy holders to take out Advantage Disability Cover for each of the products mentioned above.

Life assurance for diabetes:

All Life offers Advantage Whole Life insurance for diabetes patients as well with features being similar to the previously mentioned policy.

The All Life insurance products are all entry level which makes them financially accessible for most people within the HIV / AIDS and diabetes demographics.

http://www.alllife.co.za/

Alexander Forbes Reviewed

admin — Thu, 10 May 2012 05:52:11 +0000

Alexander Forbes is a company that traces its origins through 8 decades to the year of 1930 when the company was first established as a life insurance and pension brokerage. Since then Alexander Forbes insurance has become a major contributor in the insurance markets of South Africa and the United Kingdom. The company provides a wide range of travel, motor and home insurance policies for all segments in the market including the high end customers.

The delivery procedure of the company is also well worth noting simply because it uses all the available modes such as traditional lines to the latest internet sales. In terms of servicing its customers after a sale has been made, the company operates a state of the art call centre to provide complete customer solutions. Here is a list of insurance products provided by Alexander Forbes insurance.

1. Motor insurance policies:

Within the motor insurance segment Alexander Forbes offers two different types of insurance policies. The first of these, titled Easisure, is designed for all types of motor vehicles and can be customised according to specific needs and requirements. The second one is Meridian which is particularly aimed at the high end market of Mercedes owners.

2. Motor and home insurance policies:

Alexander Forbes provides four separate types of combined insurance policies for insuring homes and motor vehicles. The first of these is known as Priceless which provides comprehensive and in depth cover along with numerous free assistance based features such as roadside assistance, motor service, medical assistance, emergency home assistance and accident management services.

Envoy motor and home insurance policies are targeted at high end customers with features tailored for such people. Following these two are 55 Plus, an insurance policy for people above the age of 55 and Thatchlink which is an insurance policy for people with thatched homes.

3. Travel insurance policies:

Alexander Forbes also has on offer two types of travel insurance policies. The two insurance policies provide cover for domestic travel and local travel.

Owing to the history of Alexander Forbes, its insurance products have become highly refined and ideal for the South African market.

https://www.alexanderforbes.co.za/individual/individual.aspx

AIG Reviewed

admin — Wed, 09 May 2012 05:43:58 +0000

AIG South African was regarded as one of the more reliable insurance companies in the country as can be expected from a company that has ties with a globally respected entity, American International Group. While the company is still very popular in South Africa, it is now known as Chartis South Africa and has been called this since the year of 2009.

The company’s mandate is to provide commercial and consumer insurance products in the country. AIG has the full range of insurance products and, regardless of whether you are an individual or a business and irrespective of whether you are looking for short term insurance products or long term insurance policies, you will find that AIG or Chartis is up to the task. Here is a summary of all the products that AIG or Chartis has on offer.

1. Personal health and accident insurance products:

Within the personal health and accident insurance products, the company tends to focus their coverage on aspects such as hospital cash plans, death or disability being caused by an accident and cancer.

2. Personal lines of insurance products:

There are many products that AIG or Chartis provides within its personal lines of insurance products. The diversity of areas that are covered by these personal lines of insurance products is truly staggering as it comprises homeowners’ policies, householders’ policies, all risks policies, motor policies, identity theft policies, personal accident policies, personal liability policies, liability plus policies, small craft policies and accident and health policies.

3. Business insurance products:

AIG or Chartis also focuses on business insurance products and is one of the most comprehensive providers of such policies to the South African business community. Various types of policies exist within this category. Some examples are commercial auto insurance, contaminated products insurance, environment impairment liability insurance, evacuation and repatriation insurance, marine insurance, property terrorism and sabotage insurance, kidnap and extortion insurance, first party recall insurance, child abduction insurance and various general policies for liability and property.

Chartis, previously AIG, is still a part of the globally renowned American International Group which is where it draws its reputation from. Therefore, if you want high quality insurance policies then considering Chartis might be in your best interest.

http://www.chartisinsurance.com/za-home_917_210441.html

AIG Insurance Reviewed

admin — Tue, 08 May 2012 05:33:40 +0000

AIG insurance is affiliated to the global giant of the same name. Even though AIG or the American International Group has had trouble in recent times because of the global economic downturn, its South African insurance daughter company has managed to ride the wave of the downturn without any long term damages. AIG South African or AIG Insurance has since seen its name change to Chartis. Even so, the line of insurance products and the quality of its service has remained solid.

The company offers virtually all types of insurance products to both the personal insurance market as well as the business professionals’ insurance market. In addition to this, retirement options and mutual funds are also a crucial component of the AIG setup. As is obvious, the ties of Chartis or AIG Insurance to its international parent company AIG that operates in 130 countries all over the world gives it especially stable roots. Consider the following insurance products provided by AIG insurance:

1. Personal motor policies:

AIG insurance offers comprehensive vehicle insurance policies to its customers. These policies protect the policy holders against accidents, damage as well as theft of their vehicles.

2. Personal accident policies:

Personal accident policies of AIG insurance are, debatably, one of the most evolved in the country. These policies provide an extensive coverage including things such as hospitalisation, income, leisure travel, spouse retraining, education fees, special nursing, home conversion, critical illness and trauma amongst other things.

3. Commercial policies:

The commercial insurance policies of AIG Insurance are also fairly exhaustive in their variety as they cover everything from basic auto insurance to complicated risk insurance for manufacturing units.

4. Health policies:

AIG Insurance also provides varied health insurance policies for both segments i.e. personal as well as professional.

5. Life assurance policies:

Finally, owing to the international roots of the company and its financial connections, it provides structured investment solutions with predefined benefits for its customers of all ages and profession.

AIG Insurance has been operating in South Africa for a considerable amount of time now and has proven its insurance credentials during this period, which makes them a good choice for any individual looking for insurance policies.

http://www.chartisinsurance.com/za-home_917_210441.html

African Life Reviewed

admin — Mon, 07 May 2012 05:27:02 +0000

African Life can be viewed as one of the more conscientious companies within South Africa. While the company is now under the umbrella of the insurance giant, Sanlam, it still holds true to its origins. In other words, African Life is entirely black owned. Furthermore, the primary market in which African Life insurance products are available is one that consists of people who have traditionally and previously found it difficult to afford life insurance policies. The market is known amongst analyst circles as the under insured market or the uninsurable market.

Still, the starting strategy of African Life was to focus on this market both from the business sense as well as the social development perspective. Fortunately, the company was completely successful in its efforts and has since been acquired by a bigger insurance company in Sanlam. There are primarily two types of life insurance products offered by the former African Life.

1. Basic life insurance products:

The life insurance products of African Life or Sanlam are mainly basic products that are designed to balance cost and effectiveness. Resultantly, these products are financially feasible which makes them suitable for the previously mentioned uninsurable market. In other words, the basic life insurance products are one of the cheapest groups of insurance products in the country.

2. Life Power:

The Life Power range of African Life or Sanlam is one of the more groundbreaking innovations of its time simply because of its potential for social development. The Life Power range consists of insurance products that have categorically been formulated for people living with HIV or AIDS. These products, while providing the basic support that such a person needs, also offer a wide range of other features. A few of these features include death benefits, home loan collateral support and even business loan collateral support.

African Life, despite being taken over by Sanlam, has maintained its primary objective of catering to the less privileged market of the country. Therefore, if you wish to save some money and feel socially and morally responsible at the same time, African Life may be a good outlet.

http://www.sanlam.co.za/wps/wcm/connect/Sanlam_EN/sanlam/home