Consumers: Short-term » Press Room

MiWay and Tracker SA tie the knot

MiWay, the innovation leader in the direct financial services and short-term insurance market, has announced their partnership with Tracker SA, one of South Africa’s leading vehicle tracking companies.  The new partnership will see Tracker supply the next generation MiDriveStyle rating and tracking devices for MiWay.

MiWay CEO, René Otto, said that with the introduction of the second generation MiDriveStyle device, MiWay looked for an innovative, industry specialist within the tracking and recovery industry.  “Our requirements are that our partner specialises in tracking and recovery, manufactures a world-class device for our MiDriveStyle offer but can also offer this at an affordable price.  We believe that we have found this in Tracker… their track record speaks for itself!”

Launched in February 2009, MiDriveStyle was a first-of-a-kind individualised and behaviour-linked insurance offer.  With MiDriveStyle, South African consumers could, for the first time, influence their own insurance premium by managing their actual driving behaviour.  Since the launch of MiDriveStyle, MiWay has been pioneering the concept of individualised insurance premiums through innovation and out-of-the-box thinking.

MiDriveStyle is a MiWay-strategic priority, driven primarily by consumer demand. Otto says that more and more consumers are demanding individual premiums based on their unique profile, needs and behaviour.  “They are no longer satisfied with basket premiums based on the perceived collective characteristics of certain demographic groups.  The MiDriveStyle product makes it possible for traditionally high risk groups, e.g. young drivers under the age of 25, to lower their premiums by proving that they are better drivers than their peers.”

“We believe that MiWay, positioned as an innovative industry leader, is perfectly placed to take advantage of this opportunity, which is in line with our promise of providing South African consumers with ground-breaking insurance solutions that aim to make insurance more affordable and convenient.”

With a substantial national presence, Tracker SA is well positioned to provide the necessary infrastructure to support the MiDriveStyle offer, says Sales Director Michael Nieuwoudt. “Not only can we meet the technical and cost specifications for the rating and tracking device, but we also have on-the-ground capability to meet the needs of MiWay customers across the country”, he concludes.

The new MiDriveStyle device will be available from the 1^st of March through the MiWay call centre by calling 0860 64 64 64.

Breaking News »

Healthcare » Global executives say companies should be measured by their societal purpose, according to new Deloitte survey Big data holds big challenges for 2012 IRMSA Conference 2011: This Turbulent World - What’s Next? Survey - Professionals are more upbeat on the state of the economy Aon Kicks Off Second Leg of Epic Soccer Journey through Africa

Investment » No good news for wealthy tax avoiders in 2012 Invest in advice for financial peace of mind Hedge funds outperform ALSI by 6% in 2011, with significantly less volatility Money market unit trust category no longer king in terms of size Beware of yield chasing

Life » Cancer is leading cause of Insurance Claims according to Altrisk Super Ombud on the cards again Swiss Re appoints new CEO Risk Management - The key to sustainable strategies Competition for University places highlights need for careful planning

Retirement » PFA raps fund for deducting “housing” loan from pension interest A Pension Fund has a duty to protect dependants, says Pension Funds Adjudicator Do you make up the 6% of South Africans who can afford to retire comfortably? Your RA has more advantages than you think The march of the markets