10 Reasons why Indie Life Insurance is Better
Indie is the new kid on the block. We’ve developed a brand-new life insurance product from the ground up. And we’ve done it in record time too.
Here’s why:
1. We’ve put our clients at the centre of everything we do
Almost every business on earth claims that they are customer-centric. If that’s true, then why as consumers, do we so often feel that we’re the last thing on a business’ mind?
At Indie, we believe it’s possible to care deeply and empathise with our clients, to deliver an enriching experience. And we can do this while running a sustainable business. In fact, we’ve designed Indie so that we only win when our clients win.
2. Bye-bye complexity
Why, oh why, is life insurance so complex? Why are there dozens of options around benefit types, premium patterns, waiting periods, guarantees, growth types…? And what’s with insurance jargon like “benefits” (which, for the record, are in no way related to “friends with benefits”)?
At its core, life insurance is simple. I give my insurer money. If something kak happens, they (hopefully) give me a bucketload of money. Yet, the industry has added layers and layers of unnecessary complexity around this simple concept in such a way that you normally need to be qualified just to understand it.
At Indie, we believe that everything should be made as simple as it can be (and no simpler). We’ve designed 6 specific products, which meet specific needs. And that’s about it. No more jumping through hoops (literally) to manage your products. Once you’re covered, you’re covered. No surprises.
We’ve also made a real effort to make everything we do understandable. Just take a peek at our Help section to see what I mean. No jargon. No financial babble. Because we’ve built something simple, we’ve got nothing to hide. And because we’ve got nothing to hide, we can be straight with you guys.
3. No compromise on quality
When I say we make stuff as simple as it can be (and no simpler), what I really mean is that we don’t sacrifice quality for simplicity.
Could we make an insurance product where all you have to do is tell us your name? Sure. Would it be a good insurance product? Nope (it’d either be moerse expensive or there’d be lots of exclusions where we wouldn’t pay, or both).
What is the point of selling you something that doesn’t do what its supposed to do, all in the name of simplicity?
So we’ve made things simple where the complexity doesn’t add value. Yes, we still underwrite, but in a very simple way (try it!). We do accurate pricing based on you as an individual, so that you don’t have to cover others.
All of our products are designed so that they’re good enough for our moms (look mom, I’m on the internet). But some of our moms are too old to buy Indie products. So we buy them instead. And they’re good enough for us.
4. Bounty, duh
Need I say more? Bounty is a real investment on day one with every Indie policy — fully invested, with market-related growth being added over time. Wanna be an investor? Buy Indie Life Insurance.
5. Fully digital — and done in minutes
This ain’t the 90s, folks. Getting an online quote shouldn’t be a big deal. It should be a ticket to the game. But very few insurers do it. And often when they do, it’s only “indicative” (code for “Probably not what you’ll really pay”).
When Indie quotes you, it’s the real price. Fully underwritten. And it’s all done online — either from your phone or in your browser. No paper. No printing. No signing. Click-click-whirrrrr (maybe I need a new computer)…and you’re covered.
6. We help you help you
Imagine there are ten strangers locked in a room. Each one is asked to guess how much life insurance they really need. How many get the answer right?
Well, if some of them are actuaries, then the answer is none. And if none of them are actuaries, the answer is still none.
Yet most other digital insurers assume you know how much cover you need, and which types of cover are right for you, and then all you need to do is “add to basket” and you’re done.
We don’t make that assumption. Instead, we first try to understand your situation, and then help you to make the right choices about which products, and how much of each product, are right for you. We want you to understand these things, so we make a real effort to help you to help you.
7. One generation
We’ll only have one generation of each of our products, forever. This means when our products improve, or when the prices change, everyone, including new and existing clients, will benefit from getting the latest and greatest product we offer.
Why’s this a big deal? Other than the fact that no other insurer does this, it’s a big deal because you shouldn’t want to be locked into the 2017 product generation for the next 40 years, ‘cause you know, things get better.
Imagine you first got broadband 10 years ago. But the catch was that you had to sign a 40-year contract at the 2007 prices and 2007 internet speeds. Over the past ten years, the costs of data have fallen dramatically and speeds increased exponentially. Do you think you’d be happy locked into the old arrangement?
Hell no. So why do insurers do it? If you bought life insurance in the 90s, and still had that cover today, in all likelihood you’d be paying far too much for that cover (since life expectancies in South Africa have improved over time, and product features have also progressed).
No longer will only new clients get the benefit of improvements over time,
but everyone will get them, even when it costs us.
8. Live chat, with available advice
When you need us, don’t call us. Why? Because we’re there for you in our live chat feature, from any device. No hanging on the line listening to elevator music.
So if you have a question, pop it to us, and we’ll do our best to get you sorted in real-time.
We also have a fully-accredited financial advisor, who can give you advice and point you in the right direction when you need it. All from the comfort of your chair / stool / beanbag / sherpa’s back.
We know what a pain it can be to do things like change addresses or bank details through a call centre. So we’re building a cutting-edge, secure portal where you can handle most of your servicing needs. You’ll also be able to manage your Bounty and track what’s going on from there. Easy Peasy.
9. Built-in flexibility
We also realise that life happens, and things change. And most of all, your life insurance needs will change over time. We will proactively help you manage your product portfolio so that you’re only paying for the cover you need. So 5 years from now, your Indie product suite will definitely look different from what it is today. After all, we really don’t want you to be paying for something which you no longer need.
We’ve also baked in a clever product rule around missing premiums. If you happen to skip a premium, rather than trying to punish you with a double premium the following month, we make a slight adjustment to your cover (temporarily) and don’t take double the premium next time. If you choose to pay double, that’s also cool.
If you know a tough month is coming up, we also let you proactively skip a premium. Just let us know, and we’ll help you out.
10. Backed by giants
If you’ve read this far, congrats. And if you’re somewhat cynical, and wondering, “What’s the catch?”, you needn’t worry.
We’ll be here for you when you need us most. We’re backed by some of the biggest names in insurance, both in South Africa and internationally. The contract which underpins your life insurance products from Indie is rock solid, and you can trust that you’re not going to get a raw deal later on because you’re dealing with the “new kids”.
