It’s an incredibly exciting time for the South African insurance industry. Investments into insurtechs have increased steadily over the past few years and show no sign of slowing down. The disruption taking place in our industry was inevitable – advancements in, and the lower price of, technology has disrupted a number of business models over the past few years and our industry is not immune to change. These insurtechs are taking a “clean-sheet” view of the insurance value chain and innovating to create new, intuitive and customer-centric solutions free of the constraints of legacy systems and processes. New business quotations and conversions indicate that these solutions are resonating with traditional and younger clients alike.
As an established independent intermediary, Brolink interacts with both traditional insurers and insurtechs to bring innovative solutions to market. In 2017 Brolink revised its vision pursuant to being the leading digital technology and integration platform provider for short-term insurance. This refreshed vision resulted in Brolink engaging in strategic partnerships with two insurtech businesses – Pineapple and Ctrl. These partnerships were mutually beneficial in that these start-ups have a wealth of experience in new technology and servicing evolving customer needs, while Brolink has a wealth of experience in all aspects of short-term insurance administration. This merging of experience and knowledge created the perfect environment to build customer-centric insurance solutions while ensuring that all legal and regulatory requirements were met.
Pineapple launched its offering earlier this year and is enjoying a wave of positive consumer feedback, translating into impressive new business growth for the first peer-to-peer insurance offering in South Africa. Brolink adds value in this offering by hosting the product on our system, facilitating the seamless commitment of policies via the API gateway, as well as assisting the Pineapple client at the time of claim.
Ctrl is an independent digital brokerage seeking to automate the process of sourcing and comparing insurance quotations. They also provide their clients with advice seamlessly via their application and help the customer understand their cover by using simple, uncomplicated language. Brolink facilitates the process of generating comparative quotations via the Ctrl app and commits these policies once the client accepts a quote. Brolink also sends the client their policy documentation, handles their claims and assists with renewals and/or amendments as required.
For the joint efforts with our partners, Brolink is proud to announce that we shared in two awards, the Best Consumer Solution (Pineapple) and Best Financial Solution (Ctrl), at the prestigious MTN Business App of the Year Awards. Hendrik Heyns, Executive Head: Risk & Projects at Brolink says “This is a great example of what can be done when people come together with the sole purpose of solving a real need of the customer, all the while keeping the customer experience central to our solution. We are very proud of our dedicated teams at Brolink who assisted our partners to win these awards”. Pineapple’s Co-Founder, Matthew Elan Smith says “We are delighted with winning MTN Consumer App of the Year, this award resonates with our mission of providing a consumer orientated solution for protecting your things. We share this award with our partners at Brolink and Compass who have helped bring our fresh, fair and transparent insurance solution to life”.
Ctrl’s Co-Founder, Pieter Erasmus notes “that as South Africa’s first digital short-term insurance advisor we are very proud to have won the Best Financial Solutions Category and are thankful for our partners at Brolink. They are not just a group of great and competent people, but their business vision is also a strategic fit. We are proud to revolutionise the Short-term Insurance Advice space with such a great company on our side”.
Kush Padia, Chief Financial Officer of Brolink, concludes “Brolink is firmly on the path to achieving its vision and welcomes the opportunity to collaborate with other interested parties who believe in the value of true partnership”.
Get in touch with Brolink to learn more about our journey and how we can assist to take your business to the next level.