In July 2019, Momentum Metropolitan successfully acquired Momentum Insurance, previously known as Alexander Forbes Insurance, and promptly set about integrating it with its existing short-term insurance business – Momentum Short-term Insurance.
The two business have been operating separately under two different identities and offerings, but the intention has always been to merge them into a single entity and insurance license under the Momentum brand.
Momentum Insure launched
The process finally came to fruition at the end of June this year when Momentum Insure was launched as a single business, according to CEO Brand Pretorius.
“We created a new strategy, brand, market positioning and operating model for the integrated business to better meet the needs of shareholders, clients, intermediaries, staff and other business partners,” he explained.
According to Pretorius, it took months of hard work to combine and improve products, reimagine the brand and customer value proposition, integrate various teams, and develop new systems.
“The business is now at the dawn of a new chapter where both entities will come together under one banner and under one license. Today, we celebrate the joining of two forces and the launch of the integrated entity called Momentum Insure,” he explained in July.
What to expect
Momentum Insure is a meaningful player in the short-term insurance market and provides solutions to individuals as well as small and medium-sized businesses.
The improved product offering provides many options and great benefit flexibility, allowing intermediaries and clients to develop solutions based on their personal and service preferences. Clients can look forward to offerings such as:
- Momentum Safety Alert.
- A mobile panic button.
- Safe Dayz™ for safe driving.
- 30% cash back for displaying safe behaviour.
Momentum Insure’s bouquet of products is now available to new and existing clients, along with a variety of new benefits and rewards. One of the new benefits, as an example, is their new enthusiast cover, aimed at clients who take their hobbies such as cycling or photography seriously.
Momentum Insure clients will also get access to a comprehensive safety value proposition, which includes Momentum Safety Alert; a mobile panic button; Safe Dayz™, an app-based telematics solution that rewards clients for safe driving; and the Momentum Safety Bonus, where clients can get up to 30% of their premiums back annually for displaying safe behaviour, even if they claim.
“We believe this feeling of safety and peace of mind will give our clients the confidence to achieve what they want from life, without being encumbered by worries of what might happen,” Pretorius added.
“By entrusting us with the safety of their possessions, our clients can go about their daily lives and strive to reach their personal and business goals, while feeling safe, secure, and well taken care of. That is Momentum Insure’s ultimate aim.”