Although the two businesses operated separately under two different licenses since the transaction became unconditional in January 2020, the intention has always been to integrate them into a single entity and insurance license under the Momentum brand.
The launch of the combined entity and new campaign, the Science of Safety, for Momentum Insure was developed on the back of the successful acquisition of Alexander Forbes Insurance, which provided the business with a unique opportunity to think very carefully about why consumers should choose Momentum Insure.
The most three important aspects of the business are: – firstly, we learned that affordability is a key driver. Secondly, we learned that clients want an insurance company that cares about them and is empathetic towards them. Lastly, we learned that personal and home safety is important to them. As a result, we decided to build the business around these three pillars and build a business that has a culture of empathy at its core, Momentum says.
The response to the newly integrated business has been very positive, both from our existing clients and the industry. Momentum Insure is now a meaningful player in the short-term insurance market and provides solutions to individuals as well as small and medium-sized businesses. The improved product offering provides many options and great benefit flexibility, allowing intermediaries and clients to select solutions based on their personal and service preferences. As a brand that stives to keep its clients safe on their journey to success, we reward our clients for proactively taking steps to improve their safety at home and on the road. Clients can get up to 30% cash back on their premiums annually. The Momentum Safety Bonus is determined by the number of Safe Days a client has, their safety score (a questionnaire that determines how safe their home is and suggest steps to be taken to improve their personal safety and that of their belongings) and their Multiply status. The Momentum Safety Bonus is paid out to clients annually and is not impacted by their claims.