Specialist Lines: The Future of Broker Success

In this insightful podcast, Tony from COVER Magazine speaks with Austin Mpandawana, Manager of Specialist Lines at Renasa, about the evolving landscape of commercial motor insurance, particularly in specialist lines. Austin delves into how Renasa views the commercial motor sector, emphasising the inclusion of a broad range of vehicles beyond standard passenger cars—such as fleet vehicles, security vehicles, and heavy commercial equipment like tippers, forklifts, and agricultural implements. This conversation provides a comprehensive overview of Renasa’s approach to the commercial motor market and the unique challenges brokers face.

As infrastructure in South Africa continues to face strain, the transport sector is booming, and brokers are increasingly seeking specialised partners who understand the complexities of fleet management and risk mitigation. Austin highlights how brokers are moving away from traditional roles of simply writing policies and are instead taking on more proactive, hands-on responsibilities to help clients manage their fleets, reduce risks, and optimise operations. This evolution is also reflected in the way Renasa supports brokers, offering them access to specialised tools, resources, and a deeper understanding of the market.

Austin shares how Renasa, now part of the Telesure group, benefits from increased resources, allowing for a more responsive and supportive partnership with brokers. The company’s ability to rapidly adapt based on real-time feedback from their broker partners ensures they can continuously offer the most relevant products and solutions. For anyone in the commercial motor insurance space, this discussion provides valuable insights into the current trends, opportunities, and challenges brokers and insurers are facing as they work together to build sustainable businesses.

Highlights

• Specialist Motor Insurance: Renasa covers a wide range of vehicles in the commercial motor space, including fleet vehicles, security vehicles, heavy commercial vehicles, and even machinery like tippers, forklifts, and agricultural implements.

• Broker Evolution: Brokers are shifting from simply writing policies to becoming more involved in fleet management and risk mitigation, offering value-added services like telematics and driver behaviour analysis.

• Growth in Transport Sector: The breakdown of infrastructure, especially rail, has led to a surge in the transport business, creating more demand for specialist motor insurance solutions.

• Renasa’s Support for Brokers: Renasa is focused on empowering brokers with the right tools, products, and resources to help them grow their businesses and manage client needs more effectively.

• Strategic Partnership with Till Sho: Joining the Telesure group has enhanced Renasa’s ability to offer better products and support for brokers, particularly in terms of procurement and market leverage.

• Broker-Client Relationships: The need for brokers to justify their fees has pushed them to offer more comprehensive services, ensuring stronger, long-term relationships with clients and increased revenue opportunities.

• Continuous Improvement: Renasa values real-time feedback from brokers, allowing them to adapt and improve their products quickly to meet evolving market demands.