By: King Price

Driving less? Pay less!

Maverick insurer King Price has launched chilli: A pay-as-you-drive car insurance product that offers fully comprehensive cover for much less moola.“Chilli is insurance for the times,” says Gideon Galloway, King Price CEO. “We don’t believe that many South Africans will be going back to their ‘normal’ commute any time soon, and as people are driving less every month, we don’t think it makes sense that they’re paying the same for their car insurance every month. At the same time, we don’t think that simply discounting premiums is a sustainable solution. So, we put our heads together – remotely, of course – and came up with a product that does makes sense. Because when others don’t make sense, we do.”With chilli, monthly premiums start at R299* and this includes protection against everything that ‘normal’ comprehensive insurance covers… Accidental damage, theft and hi-jacking, third party liability. The whole shebang.Galloway quotes some interesting stats from car recovery companies, which confirm that while most South Africans are driving less, the risks are on the rise… Confirming that there will always be a need for comprehensive car insurance. “We saw a reduction in kilometres-being-driven of around 75% during the first weeks of lockdown.More recently, this figure is around 45%. Recent stats also show that car theft incidents – having dropped dramatically when lockdown was first implemented – are back up to 60% of pre-lockdown figures.”King Price has always been ahead of the pack because of their client-centric approach and tech-driven business model. And chilli is no different. “Approved telematics tracking devices feed chilli clients’ mileage straight into our systems. It’s a ‘no mess, no fuss’ solution,” says Galloway.Clients who opt not to have an approved tracking device installed can simply upload their mileage on the King Price app. Tech makes getting chilli just as easy. Simply download the King Price app, get an instant quote and also buy without even talking to an agent. (Or, do it ‘old school’ and call them.)The catch? There isn’t 1. You don’t even have to remember to ‘switch on’ your cover before driving somewhere. With chilli, you’re always covered.Although usage-based car insurance isn’t a new concept, Galloway said that chilli is another great example of how King Price does things differently. “We listened to what our clients, and in fact all South African consumers, are saying and developed a product that addresses the specific car insurance needs and concerns that have arisen since COVID-19 started affecting our lives.Using our advanced data and statistical analytics and capabilities, we developed super affordable ‘pay per k’ insurance cover. And then we made it super easy to use.”Chilli was developed within 5 weeks, during lockdown restrictions, which is another clear indicator of the insurer’s agility. Even the product’s animated launch ad was created remotely. Who ever thought that professional voice-overs would be done via Zoom!Known for being the only insurer that offers insurance that decreases monthly as cars lose value, King Price has also been first-to-market with innovative products across the personal lines and commercial insurance spectrum, and recently welcomed life insurer Stangen into their kingdom.*In this example, the car is worth under R500,000 and is driven less than 100km monthly. Drive more than 100km? Drive a super expensive brag-mobile? No problem, they’ve got a premium that’s right for everyone.