Nashua Mobile launches short-term insurance products
Wednesday, 24 October 2007
Nashua Mobile, the independent telecom service provider in the Reunert Group, has launched a new division called Nashua Insure to offer its customers a range of short-term insurance products underwritten by Auto & General.
Nashua Insure will offer customers competitively priced car and home insurance products through Nashua Mobile's extensive sales channel and direct marketing initiatives. The insurance offerings will give customers a range of features and benefits, including a 14-day money back guarantee, fixed premiums guaranteed for a year, emergency assistance benefits 24 hours a day, lifetime guarantees on vehicle repair work, and online claim submissions.
Says Mark Taylor, managing director at Nashua Mobile: "As a company with an extensive retail network, relationships with hundreds of thousands of subscribers, and a powerful brand, Nashua Mobile is well placed to offer insurance products to customers around the country.
“We believe that consumers will appreciate the convenient access we can give them to an affordable set of short-term insurance products through direct sales channels such as the Internet,” says Taylor.
“Affinity insurance - the sale of insurance products through a trusted consumer brand - is one of the biggest growth areas in the South African and international insurance markets,” notes Taylor. South African consumers are becoming increasingly brand-conscious and like to do business with brands that they already have a trusted relationship with.
“Nashua Mobile views affinity insurance as an additional revenue stream, as well as a value-added service that will increase subscriber loyalty,” says Taylor. “It's an opportunity for us to leverage our brand and infrastructure to make life a bit easier for our subscribers while growing the business,” he adds.
“The short-term insurance market is expected to grow alongside the emerging middle-class in South Africa, meaning that it will be a good growth opportunity for Nashua Mobile,” says Taylor.
The potential South African home insurance market amounts to 12.97 million households, while the potential car insurance market adds up to 4.8 million cars. Motor vehicle insurance remains one of the largest contributors to the total short-term insurance industry in that it accounts for approximately half of all short-term insurance premiums. Only 33% of South African motorists have motor cover and direct insurers have only been able to secure between 25% and 30% of the industry.
Nashua Mobile has partnered with Auto & General because the company has a strong brand in the South African insurance market, leading-edge technology, and a strategy to work closely with third-party affiliates that sell its offerings. Auto & General was recognised as one of the top five short-term insurance brands in South Africa in the Sunday Times and Markinor Top Brands survey for 2006.
About Nashua Mobile
Nashua Mobile is an independent telecommunications solutions provider that has built up a range of offerings from broadband, Internet service provision and mobile data through to messaging and cellular voice solutions. The company operates through four divisions: Corporates and SMEs; Retail and Franchise; LCR and Specialised Services; and Nashua Mobile Internet.
The company is one of South Africa’s largest, independent cellular solutions providers and one of the few providers to offer customers the choice of all three mobile networks (Vodacom, MTN and Cell C). More than 670 000 of South Africa’s six million plus contract cellular subscribers are Nashua Mobile customers.
Nashua Mobile Internet offers a full portfolio of Internet access offerings including fixed-line ADSL powered by Verizon and Telkom; wireless Broadband from iBurst and Sentech; and, mobile data technologies from all three mobile operators. It also offers services such as web site design and web site/email hosting, e-commerce, anti-virus, mobile personal information management and anti-spam.
Headquartered in Midrand, Gauteng, Nashua Mobile has 300 selling partners strategically placed across South Africa. More information on Nashua Mobile is available at www.nashuamobile.com. Nashua Mobile is a wholly-owned subsidiary of the Reunert Limited Group ( http://www.reunert.co.za), which is listed on the Johannesburg Stock Exchange in the electronics and electrical sector.
Issued by Idea Engineers on behalf of Nashua Mobile. For more information contact:
Marlé Prinsloo – Idea Engineers
Tel: +27 (0) 11 803-0030
Cell: 082 415 0278