Pineapple

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Pineapple has made a significant splash since launching in 2017, and insurers countrywide have felt the ripple effects.

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Pineapple is an insurtech company that offers fully digital and on-demand insurance services at your fingertips.

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Making waves with its fresh approach to short-term insurance, the young insurance provider is quickly making a name for itself and holding its own when competing with industry giants.

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With Pineapple, you can insure your personal belongings, such as cellphones and other gadgets like drones, clothing, and jewellery, without speaking to a call centre agent.

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For their car insurance, they offer a comprehensive coverage plan which protects your vehicle against collision-related accidents, theft, weather damage and other accidental damage, to name a few.

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The above-mentioned 24-year-old woman can expect a starting premium of *R1872.80 per month (at an excess of R5850) for their 2018 Volvo XC40 T3 R-Design.

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Unlike traditional insurance providers, Pineapple prides itself on the convenience and accessibility it can offer through its use of technology and data analysis, thereby providing customers with customised insurance products and claims-handling services.

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The AI technology allows clients to insure anything they want with a snap of a picture, with the entire purchasing process automated through an app.

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Pineapple only takes a cut to cover costs, meaning underwriting partners are forced to accept a lower profit margin than usual. This results in the unspent premiums being returned to clients at the end of the year.

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In addition to saving you money, Pineapple aims to save you time; a quote is guaranteed only to take 90 seconds.

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Heard enough and already sold? Your Pineapple policy is a few clicks away - Get a quote now!

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King Price Insurance

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Like Pineapple, King Price also prides itself on making insurance less intimidating and more user-friendly.

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Promising “Simple cheap insurance, backed up by royal service... Since 2012!” King Prince Insurance hails itself as the king of all short-term insurance.

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King Price Insurance is one of the most well-known insurance companies in South Africa, with a large customer base and a reputation for providing excellent service.

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King Price offers an array of insurance products, such as Agri Insurance, Business Insurance and Car Insurance, just to name a few.

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What sets King Price apart from the rest of the pack is its dedication to offering ever-reducing prices on its vehicle insurance premiums.

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Vehicles depreciate when driven off the dealership sales floor, and the depreciation continues. Therefore, King Price reasons customers shouldn’t pay the same monthly premium for a vehicle no longer worth the same value.

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So they devised a unique pricing model that has taken South Africa and the insurance industry by storm.

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King Price adjusts customers' monthly premiums based on the current value of their vehicles,

“...because your car’s value starts going down the moment you drive away from the dealership, we just think it makes sense to pay less to insure it every month!”

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The pricing model works because since launching in 2012, King Price Insurance boasts that it has saved its clients a whopping R220 million, which has resonated with South Africans countrywide.

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As a car depreciates, the customer's premium will also decrease, making car insurance more affordable for the client.

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A single 24-year-old woman with no insurance history can expect a starting premium of *R2631.46 per month (at an excess of R6500) for their 2018 Volvo XC40 T3 R-Design.

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Plus, insuring two or more cars with King Price can get you up to a 20% discount on your premium.

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Visit their website at https://www.kingprice.co.za/ for a more in-depth look at King Price Insurance.

OUTsurance

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Commonly referred to as Outsurance, OUTsurance Holdings Limited is an insurance company known for its competitive pricing and commitment to customer service.

Founded in early 1998, OUTsurance has spent almost a quarter of a century providing quality products to its customer base.  

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“For 24 years, we’ve put you at the centre of everything we do, to provide innovative, value-for-money insurance products, backed by awesome service.”

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Like Pineapple, OUTsurance is known for its distinctive marketing approach, which encourages less reliance on old-school methods such as call centre agents and instead promotes the use of technology.

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The introduction of technology in the insurance industry aims to make insurance more accessible and convenient for customers, making your life easier.

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OUTsurance offers a wide variety of products to choose from, including; car, home and contents insurance, life and funeral coverage and also has options for business and pet insurance.

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The car insurance coverage offered is

• Comprehensive car insurance - cover for your car and a full range of benefits, such as the backup of 24/7 roadside assistance

• Essential car insurance - an insurance solution designed explicitly for unfinanced cars that are over five years old,  and

• Motor warranty insurance - covers the costs of repairing your vehicle following a sudden or unexpected mechanical or electrical breakdown.

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Getting an insurance quote is as simple as visiting the OUTsurance website and adding your details.

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The process is extensive; once you’ve filled in your details, a quotation is only given over a phone call (after further verification of your details. Like we said, extensive).

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Unfortunately, the 24-year-old woman in our little case study was not too keen on the unexpected hurdle, so we don’t have a quoted amount for this insurance provider.  

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However, if this isn't an issue for you and you’re still keen, check out their website https://www.outsurance.co.za/.

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OUTsurance has received many awards for its products and services, and the company is recognised as one of the leading insurance providers in the entire country.