Business Brief

Taking out short-term insurance is a crucial step to consider when it comes to long-term financial planning for risk management and mitigation strategies. Insurers have played a significant role in emphasising the importance of insurance to the market by presenting accessibility as well as aligning themselves to technology advancements. According to Werner Bosman, CEO of PPS Short-Term Insurance, changing customer behaviour is one of the trends impacting the industry. To accommodate for this, insurers must adapt and provide value-added benefits that align with customer experiences and expectations.

“We understand that consumers are more conscious of what they buy and more focused on obtaining value from purchases. Insurers can increase the appeal of products by adapting to changing customer experiences and expectations,” Bosman says.

PPS Short-Term Insurance focuses on providing value-added benefits on top of various traditional short-term insurance cover options. Some short-term insurance cover offered by PPS includes:

Vehicle cover, such as comprehensive cover in the event of an accident, a natural disaster such as storm or hail, fire as well as loss or damage caused by theft or hijacking. Comprehensive cover also includes third-party insurance (for damage caused to another vehicle in an accident where the member is at fault). Third-party insurance is also available as a stand-alone cover.

Homeowner and business property cover for the structure of a property (a home or business premises) if the damage is caused by fire, flooding, hail, wind, natural disasters or theft. 

PPS Short-Term Insurance also provides household cover in the event of theft, loss or damage of possessions of value that are kept on the premises.

While some people do not consider personal liability important, PPS Short-Term Insurance always thinks ten steps ahead to ensure members have easy access to all available cover options. Personal liability cover is no exception and can protect your member against liabilities, such as legal responsibilities, like a lawsuit after an accident they are considered responsible for. This cover would only apply if someone is injured in the accident the member was involved in or if it were to happen on their property. It protects them against some of the financial risks linked with these claims.

Should a PPS member be unfortunate to have personal possessions stolen or damaged when they have them outside of their home, PPS Short-Term Insurance provides all risk cover. Possessions can include anything from jewellery, cell phones, laptops, tablets, cameras, etc.

“We understand that our members are integral to the success of our business and that is why our entire business has been built around our members. We believe that experience is the most important factor determining loyalty. However, we have seen how saturated the market has become over the past decade, with more insurance products and different options, creating a more sophisticated buyer with a larger range of needs and wants. To ensure we met these changing needs, we became nimbler, worked faster and made delivering superior customer experience our top priority and that is why PPS Short-Term Insurance includes the value-added services component that provides all members with various benefits,” says Bosman.

These value-added benefits services members with personal lines cover include:

Licence Assist: Access to a quick and convenient service to renew vehicle license discs.

Protect Me: A panic button that can be activated on the mobile app, wherever a member is, whenever they need it. The first two calls are covered.

ID Protect: A member will receive alerts of possible fraudulent activity on their profile if something changes on their credit report.

Road Assistance: Available 24/7 and offers towing, jump-starting and tyre-changing services and fuel delivery in case a member runs out of fuel on their way to their destination.

Home Drive Assist: Drivers are available to chauffeur members when needed. This includes taking a vehicle home on behalf of the member. Six drives per year.

Home Assistance: For plumbing and electrical damages or breakdown.

Medical Assistance: Providing services such as 24-hour emergency advice and access to an assistance centre.

“When you think about it, the only thing you know you will own for your entire life is your life itself. Everything else, be it your car, house or possessions, is not guaranteed always to be yours. So, if you are considering short-term insurance cover for the first time, do not feel daunted by the exercise. It is about finding flexible cover that can be tailored to your needs for car, home or business insurance,” explains Bosman to members.

By PPS Short-Term Insurance

Disclaimer: Kindly note that this does not constitute financial advice; the information provided is purely informational. In terms of the Financial Advisory and Intermediary Services Act an FSP should not provide advice to investors without an appropriate risk analysis and thorough examination of a client’s particular financial situation. The information, opinions and communication from the PPS Group or any of its subsidiaries, whether written, oral or implied are expressed in good faith and not intended as investment advice, neither do they constitute an offer or solicitation in any manner. Professional Provident Society Insurance Company Limited is a licensed insurer conducting life insurance business, a licensed controlling company and an authorised financial services provider.

PPS Short-Term Insurance Ltd is an insurer licensed to conduct non-life insurance business and an authorised FSP (46274).