Discovery Insure recently announced the launch of a "world-first" telematics-based vehicle warranty cover. The product is available to qualifying clients who book a service at any Motus dealership or Bosch service centre.
Discovery Insure CEO, Anton Ossip launched the mechanical vehicle warranty product to Discovery Insure clients and the media recently.
The new product comprises comprehensive mechanical breakdown and electrical failure cover for 36 critical vehicle components, with no cover limits. The "no cover" part is made possible by linking the cover to the driver's driving habits through the Discovery Insure telematics system.
Pic: LinkedIn
“Our driving behaviour technology allows us to collect telematics data for each driver on our Vitality Drive programme,” he said. He added that the product will offer discounts for vehicle services of up to 100% - limited to a maximum of R5 000 - for members who are found to drive responsibly and who book their vehicles in at a Motus or Bosch service centre.
In the statement CEO of Motus Financial Services Kerry Cassel added that the cover was made possible by the data it has collected from operating in the motor industry for decades.
“This product encourages good driving with premiums based on a driver’s specific driving profile as well as the unique circumstances of the vehicle, compared to a market where premiums are mostly undifferentiated,” she said.
“Together, our two companies saw a business opportunity in the market where we could combine Motus’s expertise in the vehicle warranty business with Discovery Insure’s Vitality Drive programme to create the world’s first telematic-based warranty product,” said Ossip.
Motus represents 22 Original Equipment Manufacturers (OEMs) through over 300 strategically located dealerships. Clients with the Discovery Insure warranty product can book in at one of the Motus or Bosch dealerships and provide their ID/passport number, vehicle registration and Vitality Drive card number.
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