Jun 10, 2024 Blink by MiWay, Keletso Mpsimane, Sanlam fintech,
Blink by MiWay refreshes its commitment to tech-driven car cover
In the last decade technology has reshaped the insurance industry for both customers and insurers. The rise of Insurtech, technology-driven insurance offerings, has spurred rapid change. Pandemic lockdowns further accelerated the demand for technology-based services across all sectors.
Celebrating their success and commitment to giving customers control over their car cover, MiWay Blink has undergone a brand refresh and changed its name to Blink by MiWay. Growth in times like these hasn’t been without its challenges. Uncertainty shrouds our economic and political environment. High, persistent levels of unemployment, ongoing energy concerns and an election year all impact business confidence.
However, we can’t let setbacks deter our commitment to serving customers. The numbers tell us that there is still a significant coverage gap for vehicle insurance. There are almost 12 million registered vehicles on the road, and only three out of every 10 cars are insuredfor accidents or other kinds of damage.Several reasons contribute to underinsurance. Insurance is still seen as an unwelcome cost; people worry about affording the cover and it can also be time consuming to find a provider that people feel puts their needs first.
Our brand facelift isn’t merely an aesthetic one – it's a sign of our commitment to help convert the insurance-weary by using technology to put them in the driver's seat with self-service features, better customer experiences as well as lower and flexible costs.
We launched in March 2021 with the effects of lockdowns and the pandemic still barreling down on our economy. Customers now want providers that give them flexibility and go further than generic cover. To meet these needs, we have leveraged technology to streamline the customer experience and provide real value.
Technology is fundamentally changing the face of insurance. There are more smartphones in SA than ever before and young people need more than basic functionality. In other words, they want to manage their insurance without spending hours on calls. The last thing customers want after being in an accident is to spend hours on the phone with an insurer. Our self-service features enhance their experience while keeping them assured that we’re with them every step of the way.
In-app accident detection features also allow us to respond quickly in critical moments. A simple and efficient quotation process removes onerous paperwork. In terms of pricing, customers get personalised premiums and discounts depending on the distance they travel, keeping our services top of mind as an active part of their daily lives.
Central to this ability to drive growth is our partnership with the fintech wing of the country's biggest insurer, Sanlam. Blink by MiWay sits within the most innovative cluster of SA’s fintech sector that incorporates financial guidance, rewards, non-intermediated product offerings, and seamless payment capabilities.
Being surrounded by businesses like these enables Blink by MiWay to deliver integrated digital experiences that exceed expectations. With innovations like our WhatsApp bot, we can better meet clients where they are and give speedy access to insurance quotes and other services. In partnering with Sanlam fintech, we can expand our access to technology and expertise to better meet customer needs. We are taking our tech-powered approach with comprehensive coverage, cashback rewards, and exceptional service, to deliver the future of insurance with ease and efficiency.
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