Momentum said it had successfully completed the integration of Momentum Insurance, previously Alexander Forbes Insurance, into its business, and the combined entity would be named Momentum Insure.
The two businesses had been two separate entities since Momentum acquired Momentum Insurance in July 2019 and the transaction became unconditional in January last year. The company said the intention had always been to integrate the businesses into a single entity and insurance license under the Momentum brand.
Momentum Insure’s chief executive, Brand Pretorius, said the company was celebrating the joining of two forces and the launch of the integrated entity called Momentum Insure.
“We created a new strategy, brand, market positioning and operating model for the integrated business to better meet the needs of shareholders, clients, intermediaries, staff and other business partners,” Pretorius said.
Pretorius said it took months of hard work to combine and improve products, re-imagine the brand and customer value proposition, integrate various teams, and develop new systems.
“The business is now at the dawn of a new chapter where both entities will come together under one banner and under one license,” he said.
Momentum Insure said its bouquet of products would be available to new and existing clients, along with a variety of new benefits and rewards including, for example, the new enthusiast cover, aimed at clients who take their hobbies such as cycling or photography seriously.
Momentum Insure said its clients would also get access to a comprehensive safety value proposition, which includes Momentum Safety Alert, a mobile panic button, Safe DayzTM, an app-based telematics solution that rewards clients for safe driving, and the Momentum Safety Bonus, where clients could get up to 30 percent of their premiums back annually for displaying safe behaviour, even if they claim.
“We believe this feeling of safety and peace of mind will give our clients the confidence to achieve what they want from life, without being encumbered by worries of what might happen. By entrusting us with the safety of their possessions, our clients can go about their daily lives and strive to reach their personal and business goals while feeling safe, secure, and well taken care of. That is Momentum Insure’s ultimate aim,” Pretorius said.