The Science Of ...

How your phone can help you pay less for insurance

Our app monitors driving behaviour…

Danie Matthee, Outsurance

You could get up to 25% discount [using the app].

Danie Matthee, Outsurance

The insurance industry in South Africa is ripe for disruption.

Technology is forcing companies to change from being product-centric to being more customer-minded.

Some trends include the Internet of Things (IoT), Big Data, peer-to-peer insurance and the ever-increasing use of mobile applications to facilitate communication between insurers and their customers.

The Money Show’s Bruce Whitfield interviewed Outsurance CEO Danie Matthee for his weekly "The Science Of" feature.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Low rates of penetration… and high crime rates [are reasons for the high cost of car insurance]…

Danie Matthee, Outsurance

More data… helps us to price more granularly…

Danie Matthee, Outsurance

We don’t use the technology to push premiums up… or in assessment of claims…

Danie Matthee, Outsurance

Predominately, our sales are made through the call centre.

Danie Matthee, Outsurance

We were founded on the basis of very good technology platforms and actuarial science.

Danie Matthee, Outsurance

Autonomous vehicles are a massive risk to our industry.

Danie Matthee, Outsurance

Insurance is highly regulated, with good reason.

Danie Matthee, Outsurance

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This article first appeared on 702 : How your phone can help you pay less for insurance


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