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Insuring the future

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Liberty has recently launched a new generation insurance product that uses telematics, chatbots and new technology, allowing for enhancements to be made in real life.

Imagine a future where ‘simple, flexible and  transparent’ are words you would use to describe the service you receive from your insurer.  What if the quick, friendly exchange that made your day was with a robot that processed your claim with lightning speed using a friendlier and easy-to-use platform?

That scenario is not as far-fetched as it sounds.  In fact, it is what you can expect from Liberty’s Short-term insurance offering, which has been developed together with our underwriter Standard Insurance Limited (SIL).

The short-term insurance market in South Africa is extremely competitive but we identified a gap for a fully digital offering a while ago. The number of digitally savvy consumers who bank, shop and make payments online is growing rapidly and they expect simplicity, convenience and innovation from other products and services, including insurance.  That is certainly true of our current and prospective customers. We are therefore launching a Short-term insurance business that meets the needs of our customers.

Together with SIL we are building a new generation insurer that uses telematics, chatbots and other cutting-edge technology which allows enhancements to be made in real time.  Thus ensuring our products and services are agile and evolve with time as the circumstances and aspirations of our clients change.

With the distinct make up of our offering, we have truly brought the concept of Artificial Intelligence (AI) to life. AI which is based on the idea of building machines capable of thinking, acting, and learning like humans allows for a business and brand such as Liberty to respond more effectively and efficiently.

We have developed a bot (a web robot based on a software application that runs automated tasks over the internet) that has a personality; it is intuitive and learns with each customer interaction so that it can classify, identify and understand customer needs. And it can also deliver a firm quote within five minutes.

The Liberty Short-term insurance’s value proposition will appeal to digitally savvy professionals as well as to people who want to experience exceptional service without the excessive bureaucratic rigmarole. Many of the targeted consumers have grown up with technology and readily embrace telematics and chatbots, which are revolutionising financial services around the world.

Buying insurance can be intimidating for younger drivers and bots can make the experience easier and friendly.  Traditionally, younger drivers also pay more for their car insurance premiums but that’s changing, thanks to telematics. Demonstrating you’re a safe driver regardless of your age makes premiums affordable. Research has also shown that drivers don’t mind sharing data if it comes with benefits.

In our case, we will be offering a significant discount based on a ‘driving test’ that measures driver behaviour over a two week period. The premium reduction kicks in after (within 2 weeks/ 300km) the test is successfully completed and will apply for the remainder of the year until renewal.  All clients will need, is a mobile phone and the Liberty’s Short-term insurance app, which they will also need, to access emergency services.  However, customers can engage on any digital channel, including Facebook Messenger, to get a quote, make a claim and to service their policy.

We are starting off with car insurance, but we are planning to broaden our offering later this year.   We will leverage SIL’s existing claims-handling capabilities with a dedicated Liberty Short-term insurance team to service the Liberty customer base.

As for the future, we are excited by the power and flexibility of the technology we’re deploying and the freedom to explore new features, guided by customers’ needs and wants.

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Win a Poster Heater with Gadget and Takealot.com

This winter Gadget and Takealot.com are giving away three Poster Heaters, which look like posters but become heaters when you plug them in.

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Three Gadget readers will each win a unit, valued at R550 each. To enter, follow @GadgetZA and @Takealot on Twitter and tell us on the @GadgetZA account how many Watts the heater consumes.

What’s the big deal about these heaters? Many of us are struggling to keep the balance between soaring electricity costs and the need to keep warm this winter.

However, the recently launched Poster Heater by EasyHeat and distributed in South Africa by Takealot.com is not only one of the most cost effective electric heaters currently on the market, it is also easy to setup and use.

As the name indicates, it is a poster similar to one you would hang on a wall. But, plug it in and it turns into a 300 Watt heater. The Poster Heater isn’t designed to heat hallways or large rooms, but rather smaller ones like a bedroom or a baby’s nursery or a dressing room.

It uses radiant heating, which means that it heats up in a couple of minutes and the heat is directed at the objects or people around it, quickly taking the chill out of the air and providing a comfortable ambient temperature.

The other advantage of radiant heating is that it doesn’t dry out the air like infrared or gas heaters. Users also don’t have to worry about their children or pets getting too close to it because, even though it gets hot, it can be touched.

To enter the competition follow the steps below:

Competition entry details:

1. Follow @GadgetZA and @Takealot on Twitter. (We will ONLY be accepting entries via Twitter, so please don’t enter through the comments section of this article.)

2. Tell us on Twitter, via @GadgetZA, mentioning @Takealot in your posting, how many Watts the Poster Heater consumes.

cleardot.gif3. The competition closes on 31 July 2018.

4. Winners will be notified via Twitter on 1 August and Takealot.com will be in touch to organise delivery.

5. The competition is only open to South African residents.

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Happy Emoji Day! Here’s 10 reasons to be cheerful

First created by Shigetaka Kurita in 1999, the emoji has become a huge part of everyday communication. Whether you love them or hate them, flying dollar bills, applauding hands and rolling eyes are here to stay.

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Scientist suggest that the use of emojis will help us gain the same satisfaction from digital interactions as we enjoy from personal contact.

Almost two decades later, and we have over 2600 unique emojis to perfectly express what we feel, thank you Mr Kurita! Join HMD, the home of Nokia phones as we celebrate World Emoji Day on the 17th of July with these interesting emoji facts:

The most popular emoji used is “Person Shrugging”

1.       The Nokia 3310 was chosen as one of the first 3 “National” emojis for Finland… it represents unbreakable!

2.       South Africa’s favourite emoji is the “Kiss and wink”… how sweet SA!

3.       French is the only language where a ‘smiley’ does not top the list for its use

4.       On average, over 60 billion emojis are sent on Facebook every day

5.       For the first time ever, the Oxford Dictionaries Word of the Year was a pictograph! The “Face with Tears of Joy” was crowned word of the year in 2015

6.       According to Emojipedia, some of the most requested emoji’s include afro, a bagel and hands making a heart

7.       To include all races, a diversity pack was released in 2017

8.       It has become so trendy that the Museum of Modern Art displays the original emoji collection on canvas

9.       In 2009, Herman Melville’s classic Moby Dick was completely translated into emoji’s

 

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