Insurance Innovation Award - Meerkat

1. Meerkat Credit
Life Insurance
We’re looking out for you!
1

2. Our vision is…"to create a world where everyone can take back financial control of their lives through
accessible, affordable & simple financial solutions…"
Who is Meerkat?
Founded in 2016 by David O’Brien,
Meerkat is a black owned business led by a team
with over 75 years of combined experience in the financial services industry.
We are insurance specialists,
with a passion for helping customers do more with their money.
Meerkat is an authorised financial services provider (FSP 46535)

3. Current situation
3
The
Meerkat
solution
Current
Supply
Customer
Need
A simple, cost
effective credit life
insurance solution
to insure against
risks such as
retrenchment and
death whilst under
debt review.
Expensive,
occasionally
inappropriate
credit life
insurance per
credit provider.
Cost effective,
comprehensive
credit life cover
for the borrower
in the DC
process.
Underwritten by
Old Mutual

4. Introducing the Meerkat Credit Protection Plan
4
• Full range of benefits
• Death, severe illness, retrenchment, temporary & permanent
disability
• No cover gaps, designed for replacement
Comprehensive
• Underwritten by Old Mutual Alternative Risk Transfer
• Independent Actuarial opinion
• Built in financial advice
• Compliant with current and new FSB regulations
Quality
• Fully automated
• Unique digital sales and administration
• No medical underwriting
• Proactive claims processing, driven by mobile tech
Simple

5. A wide range of benefits
5
Extra benefits
Employment related
benefits
The customer gets a single
Meerkat contract with a cluster
of sub-policies, one for each
credit agreement.Death Critical
Illness
Retrenchment Temporary
Disability
Permanent &
Total Disability
Compulsory
Unpaid Leave
Short Time
We include the DC and PDA
fee in the claims pay out!
Core benefits
DC aftercare fee is insured in
the event of retrenchment,
up to 12months!

6. As an authorised FSP, we value Advice!
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• Our advice is algorithm based to minimise human error and control any advice risk
• We look at the individual (i.e. the debt holder) AND each credit agreement in the plan in
reaching a decision
• Employment status and industry can influence the type of benefit the individual qualifies
for
• We aim to cover the entire plan, issuing new or replacement cover where Meerkat offers
better value for money
• We leave existing cover in place where appropriate
• No medical tests required
NEW
REPLACE
REJECT

7. The Customer Experience
7
The entire sales process is done via a series of SMSs sent to the customer’s mobile phone
Intro OMART
Ts&Cs
&
App
reg
Quote
Series of SMS’s received include a quote to
confirm premium and cover
Policy
Issued
Cover
Comm
encem
ent
Within 24 hrs of
receiving the
referral via
upload
Hears about
insurance
during initial
DC sales call
[Client uploaded
to Meerkat]
Call from Meerkat
to confirm policy
acceptance
Confirmation
of policy
issued
Confirmation of
cover
commencement
when 1st
premium is
receivedWithin 24 hrs
of quoting

8. A variety of Customer Service Touchpoints making it
easy to query or submit a claim
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Customer
App
web
Inbound
line
Mailbox insurance@meerkat.co.za
021 003 4534
www.mkat.co
www.meerkatinsurance.co.za

9. Introducing Moku
Access to Moku, our Robo-Assistant
I’m Moku, I can help by
seeing if your credit profile
looks good or bad; if you
would likely qualify for a
loan or if debt counselling is
the right solution for you.
Mobile & browser based.
• Mkat.co/chat
• www.meerkat.co.za/meet-moku

10. 10
Meerkat - making sure
our customers get the
protection they need, at a
premium they can afford.
_____________________
Thankyou.