Press release -
Discovery Insure and Motus Financial Services partner on new warranty product
Discovery Insure CEO, Anton Ossip, announced the launch of a new product in their offering, providing vehicle warranty cover to its clients. The new product, available exclusively to Discovery Insure clients, comprises comprehensive and market-leading mechanical breakdown and electrical failure cover for 36 critical vehicle components, with no cover limits.
According to Ossip, “Our driving behaviour technology allows us to collect telematics data for each driver on our Vitality Drive programme, making it possible to tailor-make premiums for our warranty product.” This telematics-based warranty cover is a world-first, with up to 100% vehicle servicing discounts for driving well.
CEO of Motus Financial Services Kerry Cassel adds, “We are able to cover a more comprehensive list of critical components, with no limits, due to the data we have collected from operating in the motor industry market for decades. This product encourages good driving with premiums based on a driver’s specific driving profile as well as the unique circumstances of the vehicle compared to a market where premiums are mostly undifferentiated.”
Discovery Insure, a leading South African short-term insurance company, has its ambition to create a nation of great drivers. Its business model is anchored on its Shared-value Insurance model that encourages drivers through the Vitality Drive programme to improve their driving behaviour, using telematics data collected from their vehicles, and reward them for their good driving.
Motus Financial Services develops and distributes innovative vehicle-related financial products and services through importers, distributors, dealers, finance houses, call centers and digital channels. Motus is South Africa’s largest automotive group and undisputed leader in mobility. Apart from its interests in financial services, Motus represents 22 Original Equipment Manufacturers (OEMs) through over 300 strategically located dealerships. Its unrivalled footprint across South Africa allows Motus to quickly gauge changes in motoring trends.
“Together, our two companies saw a business opportunity in the market where we could combine Motus’ expertise in the vehicle Warranty business with Discovery Insure’s Vitality Drive programme to create the world’s first telematics-based Warranty product,” said Ossip.
“By driving well, drivers who have our telematics-based Warranty product will be able to access the Vitality Drive vehicle servicing benefit discount up to a maximum of 100% depending on the Vitality Drive status of the client, limited to a R5000 spend, when visiting a dealership that is part of our vast network, including over 270 Motus Retail service centres as well as Bosch service centres.”
Cassel adds, “Through our extensive years of experience in the vehicle and warranty business, we knew that good drivers looked after their cars and would be better clients to offer warranty cover to.”
“As Discovery Insure, we are excited to work with Motus to bring this world class offering to our clients,” says Kgodiso Mokonyane, Head of Strategy at Discovery Insure. “We look forward to seeing the success of this product and creating a stronger relationship to bring more value to our clients.”
About Discovery Insure
Discovery Insure launched in 2011, and is part of the Discovery Group, a Shared-value Insurance company whose purpose and ambition are achieved through a pioneering business model that incentivises people to be healthier and enhances and protects their lives. Discovery Insure is a provider of vehicle, home and business insurance, insuring assets worth R358 billion including over 243 000 vehicles. Its innovative telematics-based driver behaviour programme, Vitality Drive, encourages safer driving through measuring driver behaviour and rewarding good driving. Follow Discovery on Twitter @Discovery_SA and LinkedIn.
About Motus (www.motuscorp.co.za)
Motus is South Africa’s leading automotive group, employing over 18,600 people. It is a diversified (non-manufacturing) business in the automotive sector with unrivalled scale and scope in South Africa and a selected international presence, primarily in the United Kingdom and Australia, and with a limited presence in South East Asia, Southern and East Africa. Motus Holdings Limited was listed on the JSE in November 2018 following its unbundling from Imperial Holdings Limited. Motus offers a differentiated value proposition to original equipment manufacturers, customers and business partners with a fully integrated business model across the automotive value chain through four key business segments, namely Import and Distribution, Retail and Rental, Motor-Related Financial Services and Aftermarket Parts. Motus has longstanding importer and retail partnerships with 22 leading Original Equipment Manufacturers, through 300 conveniently located dealerships, thereby providing automotive manufacturers with a highly effective route-to-market and a vital link between the brand and the customer throughout the vehicle ownership cycle. Follow Motus on LinkedIn.
Discovery Limited is a South African-founded financial services organisation that operates in the healthcare, life assurance, short-term insurance, savings and investment and wellness markets. Since inception, Discovery has been guided by a clear core purpose – to make people healthier and to enhance and protect their lives. This has manifested in its globally recognised Vitality Shared-Value insurance model, active in 24 markets with over 20 million members. Discovery trades on the Johannesburg Securities Exchange as DSY.
Follow us on Twitter @Discovery_SA