Bespoke Insurance Solutions
Several solutions that allow companies or institutions to provide an insurance offering to their clients currently exist in the South African market. In addition to the traditional broker model, where an entity receives commission in return for distributing insurance products, additional bespoke solutions exist to allow organizations to enter the insurance industry. At a high level, the following three options exist for these organizations:
- Cell Captive Facility
- White-labelling Solution
- Microinsurance / Insurance Licence
Each of the above solutions have their own benefits and challenges. Overall, the diagram below aims to illustrate the high-level varying complexity, cost and risk of options:
With extensive experience in the insurance industry, Tyesdale is able to assist your business in understanding which solution best meets your strategic goals.