Unique benefits for people over 50

Ambient is a new short-term insurance product for the plus 50 market, underwritten by Zurich. The owner of the Ambient product is BrokerNet, a wholly-owned subsidiary of Dex Financial Services, with more than 20 years' experience of insurance for people over 50. "That's why we may rightfully be regarded as experts specialising in the plus 50 market in South Africa," says Sollie Stols, director of Dex Financial Services.

Ambient offers a series of unique releases and benefits exclusively for the more advanced, honourable and specialist market.

"Many people over 50 live with integrity and try to do what is right in life," says Stols. "Generally speaking, they are much more careful and limit their risks. That's why BrokerNet believes they should be rewarded with a better premium and other unique benefits."

Ambient gives them exemption from payment of an excess in case of a vehicle claim, provided that the vehicle was driven by the insured or his/her spouse when the incident occurred.

Furthermore, they benefit from a small, fixed excess of R250 in the event of non-vehicle claims. When an Ambient client completes 12 months without any (non-vehicle) claim, the client immediately receives an excess exemption certificate which can be used with his/her next non-vehicle claim.

This benefit can be used immediately by the client. It is not linked to a waiting period like elsewhere in the industry, where a premium is usually only paid back after three or four years.

"Research has shown that people over 50 have a wonderful attitude," says Stols. "They are less inclined to claim for every small trifle. In a sense, they apply partial self-insurance by carrying small losses themselves. They drive less in rush-hour traffic and therefore pose a lower risk. That's why Ambient can offer them so many benefits."

BrokerNet also provides systems and management information to a variety of insurers and brokers in the plus 50 market and has firm ties with the South African Association of Retired Persons, SAARP," Stols says.

Ambient policyholders enjoy more unique benefits, including:

* Roadside, medical and other advisory services by Global Assistance Services
* Membership of the BrokerNet loyalty programme
* A funeral benefit of R5 000 for the policyholder and his/her spouse
* Membership of SAARP, the South African Association of Retired Persons, with full benefits
* The Ambient policy is underwritten by the Zurich Insurance Company Limited, South Africa
* ID theft cover, underwritten by AIG

Stols says the Ambient policy is also available to all brokers, giving them direct access to a more affordable option for a very special and honourable market.

Asked if there is room for yet another insurance product in the South African market, Stols said there are still hundreds of thousands of people over 50 who don't enjoy the benefits they deserve. "And in any event, the market is always big enough for healthy competition," he added.