IT in Banking

New app allows users to compare, buy insurance cover

Read time 2min 30sec

Indwe Risk Services has introduced BluPixl, an all-in-one car and home insurance mobile app that connects users to a large pool of insurance brokers and allows them to view and manage their insurance policies.

Indwe Risk Services bills itself as SA’s largest independent insurance broker, offering personal, business and specialist risk and insurance advisory services through brokers that deal with all registered and approved insurers in SA.

The new app integrates smart customisation technologies such as predictive analysis of data, artificial intelligence and algorithms, to help customers compare insurance quotes across insurers and find the right cover that fits their lifestyle and budget.

The free app is also interfaced with a chat function, allowing users to chat to a broker for insurance advice.

“With so many products and services on offer, consumers are spoilt for choice,” says Peter Olyott, Indwe CEO.

“In launching BluPixl, we want to bring convenience, choice and customisation to the fingertips of South Africans. Not only does the platform enable consumers to shop and experience insurance the same way they do with everyday goods and services, but it also serves to assist them in making informed choices.”

Available via the Apple iOS and Android stores, BluPixl allows customers to conduct multiple functions, including finding the right policy, managing their cover, requesting and comparing quotes,submitting a claim, getting advice and managing policies.

Users also have the option of easily adding to, or removing assets from, a policy, while the in-app claim functionality ensures a seamless claims process.

The policy comparison functionality makes it easy to view insurance products from SA’s major insurers, side-by-side, and compare premiums in detail, notes Indwe.

It automatically ranks insurance options, with a 24-hour digital insurance advisor to help unpack policy wording in detail.

Users can start shopping for insurance solutions on their smartphones after downloading the BluPixl app. Once a user has signed up and entered their preferences, the app will begin to fetch and consolidate insurance quotes.

In June, SA’s insurtech companies told ITWeb that the COVID-19-induced lockdown period has been a catalyst for insurers to accelerate their business through technology, with the companies witnessing strong growth of sales in life and asset insurance policy sales since March.

The shutdown period led consumers to rush to digital platforms to purchase policies – a trend expected to drive a permanent uptick in online insurance sales.

The lockdown has also seen SA’s big four banks up the ante in their online insurance offerings, with Absa and Standard Bank announcing new digital insurance products, while FNB focused on creating capabilities to streamline its insurance claims processes.

Nedbank says it has plans to launch several online insurance products soon.

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