Products

PinnAfrica's core business is creditor insurance. 

Creditor Business is built around the provision of insurance products to consumers and corporate customers in distinct market segments, namely the Motor Trade, Banks, Unique Credit Providers, Brokers and Retailers.

These insurance products usually cover one, or a combination of Life, Critical Illness, Accident, Sickness and Retrenchment/Unemployment cover and Credit Shortfall cover. Products are typically engineered to suit the client's specific need, and may include a range of ancillary product extensions and/or variations.

Due to the diversity of the financial commitments being protected, generic insurance products within each market segment have emerged:

• Motor Trade – Deposit Protector, Excess Protector, Credit Protection, GAP, Top Up, Instalment Protector, Tyre Warranty, Credit Shortfall, Warranty Top Up, Extended Warranty, Return to Value*
• Banks - cover for mortgages, loans, credit cards, overdrafts.
• Unique credit providers - Cover for revolving and fixed term credit, or when insurance products form close synergies to the organisations core business.
• Retail - cover for hire purchase or in-store credit.
• Telesales
• Funeral Cover

* Return to Value (RTV)

• PinnAfrica was the first company in South Africa to offer the Return to Invoice Product, and are now the first to offer the Return to Value (RTV) product.

• Return to Value is a product that covers depreciation related to your vehicle. In the event of the total loss of the vehicle (by theft or write off), RTV will pay the difference, less any excess, between the market value (paid out by the underlying insurer) and the retail value as determined by the Transunion Vehicle Dealers' Guide at date of purchase of the policy or the new list price as stated by the vehicle manufacturer.

• RTV can be purchased for new or used cars, at any stage of the vehicles life span up to a maximum age of 15 years, and can be purchased by both credit and cash buyers (for the first time giving cash buyers the opportunity of recovering the depreciation value of their vehicle in the event of a total loss).

Services

Administration Capabilities

PinnAfrica has custom built an administrative system that is arguably one of the most innovative, flexible, stable and encompassing business administration systems in the insurance industry to date. The administrative system creates an entirely integrated environment in which the administration of policies, both long and short term, from inception through to term or claim payout, can be accomplished.

All data captured in the system is validated ensuring data integrity. Automatic calculations of the outputs such as premium, claim payout amount, etc is done by the system ensuring consistency and accuracy.

PinnAfrica have the capability of efficiently processing and reporting on large volumes of what many traditional insurers would define as 'small premiums'. This ability creates cost and operational efficiencies, which is a critical success factor in payment protector program management.

Management Information Systems

PinnAfrica also has the capabilities to provide Management Information to its clients. The Management Information System in place allows us to provide comprehensive reports to clients including penetration, claims, benchmarking and related trend analysis.

Product Rejuvenation

PinnAfrica, as part of its Portfolio and Sales management process, review on a quarterly basis the existing portfolios. The process involves claims performance, client complaints, market intelligence, legislative changes and sales performance; this information is used to rejuvenate or re-price the existing products to ensure they remain relevant.