get all the different bits of the insurance product together . I say ‘ just ’ but it ’ s definitely not as simple as it seems .
There are lots of moving parts and that ’ s where our operating system comes into play , essentially absorbing a lot of that complexity to make it as easy as possible for FinChoice to launch the product .
The Personal Accident Plan is underwritten by Guardrisk and offers a lump sum of up to R50,000 for accidental death and permanent disability , plus an additional R2,000 which can be used for airtime , travel or groceries .
How has Root ’ s technology enabled FinChoice to launch this product quickly and efficiently ?
R AFRICA ’ S INDUSTRY
on that path . I try to wake up before 7 am , read the news , go for a run and aim to be online around 8 am . My workday usually starts with a check-in with Charlotte Koep – Root ’ s COO , who does an excellent job of keeping the rest of the business focused .
I generally keep my diary open as far as possible from recurring meetings to reduce distractions . This allows me to focus on the most important opportunities or problems . We have a hybrid remote-work policy , but I prefer to be at the office to see the team in person because face-to-face water cooler chats are invaluable .
Why did you choose to partner with FinChoice ?
Accident Plan is an example of this and there will no doubt be more to follow .
Can you tell us more about your new Personal Accident Plan ?
It ’ s FinChoice ’ s accident plan ; our role was simply to make it possible for them to
The Root platform automates and takes care of many of the critical aspects of insurance , like compliance , reporting , billing , communication , etc ., which enabled FinChoice and their underwriter to focus their attention on designing and delivering the product and experience they were looking for their customers .
Contemporary insurance requires a large and complex network of people and technologies to work together effectively . You need underwriters to evaluate the risk and approve consumers ’ applications for insurance cover ; actuarial scientists to determine the risk profiles of individual and group customers ( and what premium
FinChoice and its sister company , HomeChoice , are both highly innovative companies that take digital innovation seriously . These are the types of companies we love working with because they ’ re always wanting to raise the bar in the digital experiences and products they offer their customers . FinChoice ’ s digital Personal
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