Homeowners insurance is boring.
We just made it SMARTER

Smart Insurance | Technology | Utilities
How does it work?
Homeowners insurance is boring. We just made it SMARTER

Smart Insurance | Technology | Utilities
How does it work?
Safehomes Broker Relations

INSURANCE SOLUTIONS ON STEROIDS



Service and cost enhancements

Until now, most innovation in the insurance sector has been internally focused, and in many instances ends up being innovation which few, if any customers are interested in. What customers are interested in is the service and cost enhancements to their own pockets and lifestyle that Insuretech can provide – and that’s where GENRIC has been singularly focused.

Unique Product Solution

Brokers get access to a unique product solution with a tech platform that makes onboarding of new customers seamless and digitised and gives the ultimate edge to adding real, monetised value to your clients and business processes.

Tech Customer Engagement

Most customers now want to engage with their providers and insurance products through a seamless suite of multiple service channels. They want quick and easy access to their product portfolio, policy documents, endorsements, claims and so on, they also still demand the high level of personal service from their broker and insurer. This contact diversity makes the user experience that much more challenging, especially at a time where customer satisfaction and its impact on customer loyalty is more crucial than ever.

SafeHomes Insurance

Customer-centric Technology

GENRIC’s ground-breaking ‘SafeHomes’ insurance solution brings together product solutions with customer-centric technology. Customers get to experience an insurance solution backed by seamless tech that delivers tangible financial, peace-of-mind value and ease of engagement.

Digitised Client Onboarding

A specific broker version of the portal provides brokers with a bird’s eye view of every client, their portfolio and claims. Most importantly, the platform allows for seamless and fully digitised client onboarding and quoting.

Innovative Online Portal

GENRIC’s SafeHomes solution brings the best of insurance, risk management and tech together. Backed by an innovative online portal, policy holders get to actively manage not only their insurance portfolio, but all the related home technology services embedded in SafeHomes in their own time, from any device, be it a cell phone, tablet or computer. In addition, we aim to enhance our policyholders’ lives by delivering technology solutions that save them money, provide a real sense of security and comfort and empower them in ways not previously possible by reducing their risks, and ours too!

SafeHomes Insurtech

INSURANCE SOLUTIONS
ON STEROIDS



Service and cost enhancements


Until now, most innovation in the insurance sector has been internally focused, and in many instances ends up being innovation which few, if any customers are interested in. What customers are interested in is the service and cost enhancements to their own pockets and lifestyle that Insuretech can provide – and that’s where GENRIC has been singularly focused.

Unique Product Solution


Brokers get access to a unique product solution with a tech platform that makes onboarding of new customers seamless and digitised and gives the ultimate edge to adding real, monetised value to your clients and business processes.

Tech Customer Engagement


Most customers now want to engage with their providers and insurance products through a seamless suite of multiple service channels. They want quick and easy access to their product portfolio, policy documents, endorsements, claims and so on, they also still demand the high level of personal service from their broker and insurer. This contact diversity makes the user experience that much more challenging, especially at a time where customer satisfaction and its impact on customer loyalty is more crucial than ever.

Safehomes Insurance

Customer-centric Technology


GENRIC’s ground-breaking ‘SafeHomes’ insurance solution brings together product solutions with customer-centric technology. Customers get to experience an insurance solution backed by seamless tech that delivers tangible financial, peace-of-mind value and ease of engagement.

Digitised Client Onboarding


A specific broker version of the portal provides brokers with a bird’s eye view of every client, their portfolio and claims. Most importantly, the platform allows for seamless and fully digitised client onboarding and quoting.

Innovative Online Portal


GENRIC’s SafeHomes solution brings the best of insurance, risk management and tech together. Backed by an innovative online portal, policy holders get to actively manage not only their insurance portfolio, but all the related home technology services embedded in SafeHomes in their own time, from any device, be it a cell phone, tablet or computer. In addition, we aim to enhance our policyholders’ lives by delivering technology solutions that save them money, provide a real sense of security and comfort and empower them in ways not previously possible by reducing their risks, and ours too!




Safehomes Insurance

HOW IT WORKS


The introduction of utility, security and emergency management tools, interfaced to a self-service portal, now means that technology gets deployed in the customer’s home in a manner that underpins and supports the underlying SafeHomes insurance policy, putting the power of risk management firmly in the customer’s hands. They get to enjoy the benefits of real risk mitigation and avoidance of loss and resultant damage, self-determination, and they experience real savings through greater efficiency and smarter utility management. By harnessing data from the Internet of Things (IoT), SafeHomes technology can verify the presence of geyser and water management tools, security measures and more, and how these can affect the risk insured.







Safehomes Customer Journey

HOW IT WORKS


The introduction of utility, security and emergency management tools, interfaced to a self-service portal, now means that technology gets deployed in the customer’s home in a manner that underpins and supports the underlying SafeHomes insurance policy, putting the power of risk management firmly in the customer’s hands. They get to enjoy the benefits of real risk mitigation and avoidance of loss and resultant damage, self-determination, and they experience real savings through greater efficiency and smarter utility management. By harnessing data from the Internet of Things (IoT), SafeHomes technology can verify the presence of geyser and water management tools, security measures and more, and how these can affect the risk insured.




Safehomes Insurance Policy

WHAT DO POLICY HOLDERS RECEIVE?



Geyser energy management


GENRIC’s first tech solution under the SafeHomes banner is a smart geyser management tool – a Geasy! On a buildings or contents insurance policy with a minimum monthly premium of R350, GENRIC will supply the policy holder with a Geasy energy management device free of charge. On a monthly premium of R850 or more, the customer qualifies for two Geasy devices, if required. The electric geyser is by far the most energy-hungry device in a household, accounting for anywhere between 30-50% of total household electricity consumption.

A ‘Geasy’ is a smart device that curbs this usage by allowing you to optimally schedule and remotely switch your geyser on/off via a web app. The use of this technology can save up to 30% of your current electricity bill. These savings almost amortise the entire cost of the monthly insurance premium. And the customer gets to make a huge difference in lowering their overall carbon footprint by becoming more energy efficient – it’s a win-win all round. The Geasy is fully integrated into the client’s GENRIC web portal – here they can switch their geyser on in instances where they need a quick boost to heat up water, or switch the geyser off when no one is home and heating water during this time would be a complete waste.

Burst Geyser Detection


The second component to the Geasy is a drip tray sensor that provides early warning of a burst geyser. The Geasy sensor helps reduce the risk of geyser bursts or leaks—and the resultant losses associated with such events—by detecting water in the geyser’s drip tray and generating early warning notifications before further damage or loss occurs. Typically, geysers do not usually burst violently. Rather, they’re likely to wear out over time and fail from the corrosion experienced when the sacrificial anode isn’t serviced for years, allowing for gradual leakage. This leakage ends up in the drip tray which, when installed correctly, is harmless and merely an indicator of an ageing geyser. With the Geasy sensor, early warning of water in the drip tray means the problem can be addressed early and the resultant damage that typically follows a major burst can be avoided.

Water Metering


The third component to GENRIC’s SafeHomes solution is water metering technology that provides early detection of excessive water usage. The technology interfaces with existing water meters and can detect high water flow rates or events that otherwise could easily go undetected, such as pipe bursts, underground leaks, taps left running and so on. These events not only lead to large water losses, but significant resultant damages to property as well as huge financial costs. Should the system detect abnormal usage or high flow rates, an SMS or email alert is sent to call for early intervention to address the problem. SafeHomes will not only save you money, but it will also help protect a scarce and valuable resource.

Emergency Services


Think of it as your personal security guard and ambulance that’s available whenever you need it. With the app installed on your cell phone, the emergency panic button will automatically dial up the closest security provider when activated, sending your location details based on your phone’s position to the security provider for assistance. In addition the call can be routed to receive emergency medical attention as part of our solution offering. Further enhancements are also underway on the GENRIC portal to allow for CCTV integration and enhanced home security and emergency options under the SafeHomes offering.

Property Valuation


GENRIC is able to provide brokers with an immediate assessment of a client’s property value using spatial and geo-technologies and mapping this back to deed’s office information regarding property values in the area. The technology is also used to provide property evaluations based on statistical-actuarial data and historical sales data to determine current values. As a broker, you will be able to assess whether your client is appropriately insured on both their property and contents using this online platform. Leveraging GENRIC’s technology platform makes the process of generating an insurance quote for your client’s SafeHomes cover fast, efficient and accurate. As an additional benefit to our policy holders our SafeHomes customers receive a bi-annual property valuation report as part of our solution offering.

Safehomes Insurance Policy

WHAT DO POLICY HOLDERS RECEIVE?



Safehomes Energy Management

GENRIC’s first tech solution under the SafeHomes banner is a smart geyser management tool – a Geasy! On a buildings or contents insurance policy with a minimum monthly premium of R350, GENRIC will supply the policy holder with a Geasy energy management device free of charge. On a monthly premium of R850 or more, the customer qualifies for two Geasy devices, if required. The electric geyser is by far the most energy-hungry device in a household, accounting for anywhere between 30-50% of total household electricity consumption.

A ‘Geasy’ is a smart device that curbs this usage by allowing you to optimally schedule and remotely switch your geyser on/off via a web app. The use of this technology can save up to 30% of your current electricity bill. These savings almost amortise the entire cost of the monthly insurance premium. And the customer gets to make a huge difference in lowering their overall carbon footprint by becoming more energy efficient – it’s a win-win all round. The Geasy is fully integrated into the client’s GENRIC web portal – here they can switch their geyser on in instances where they need a quick boost to heat up water, or switch the geyser off when no one is home and heating water during this time would be a complete waste.


Safehomes Geyser Detection

The second component to the Geasy is a drip tray sensor that provides early warning of a burst geyser. The Geasy sensor helps reduce the risk of geyser bursts or leaks—and the resultant losses associated with such events—by detecting water in the geyser’s drip tray and generating early warning notifications before further damage or loss occurs. Typically, geysers do not usually burst violently. Rather, they’re likely to wear out over time and fail from the corrosion experienced when the sacrificial anode isn’t serviced for years, allowing for gradual leakage. This leakage ends up in the drip tray which, when installed correctly, is harmless and merely an indicator of an ageing geyser. With the Geasy sensor, early warning of water in the drip tray means the problem can be addressed early and the resultant damage that typically follows a major burst can be avoided.


Safehomes Water metering

The third component to GENRIC’s SafeHomes solution is water metering technology that provides early detection of excessive water usage. The technology interfaces with existing water meters and can detect high water flow rates or events that otherwise could easily go undetected, such as pipe bursts, underground leaks, taps left running and so on. These events not only lead to large water losses, but significant resultant damages to property as well as huge financial costs. Should the system detect abnormal usage or high flow rates, an SMS or email alert is sent to call for early intervention to address the problem. SafeHomes will not only save you money, but it will also help protect a scarce and valuable resource.


Safehomes Emergency Service

Think of it as your personal security guard and ambulance that’s available whenever you need it. With the app installed on your cell phone, the emergency panic button will automatically dial up the closest security provider when activated, sending your location details based on your phone’s position to the security provider for assistance. In addition the call can be routed to receive emergency medical attention as part of our solution offering. Further enhancements are also underway on the GENRIC portal to allow for CCTV integration and enhanced home security and emergency options under the SafeHomes offering.


Safehomes Property Valuation

GENRIC is able to provide brokers with an immediate assessment of a client’s property value using spatial and geo-technologies and mapping this back to deed’s office information regarding property values in the area. The technology is also used to provide property evaluations based on statistical-actuarial data and historical sales data to determine current values. As a broker, you will be able to assess whether your client is appropriately insured on both their property and contents using this online platform. Leveraging GENRIC’s technology platform makes the process of generating an insurance quote for your client’s SafeHomes cover fast, efficient and accurate. As an additional benefit to our policy holders our SafeHomes customers receive a bi-annual property valuation report as part of our solution offering.

Safehomes Customer Journey

Transforming the customer journey

Developing a more streamlined and personalised insurance experience for our shared customers is at the core of what GENRIC does. As conversion rates decline, competition for new customers stiffens and the pool of insured individuals gets smaller, we believe that digital transformation that matters to our shared customers is what will secure a mutually beneficial relationship with policy holders.

SafeHomes is about leveraging transformative tech that matters to customers and adds value to the intermediated model of insurance delivery. Sometimes, the innovation journey may seem daunting, but GENRIC is focused on being the insurance partner of choice to brokers and customers, connecting the present challenges to the future solutions, today.

Safehomes Insurance

ABOUT US


About Genric Insurance

The Company

At a time of rapidly changing customer needs, growing regulatory demands, capital pressures and technological disruption, how do insurance innovators bring successful new products to market that make a real difference in the lives of our clients? By partnering with the very best in the industry.

GENRIC Insurance Company is a market leader focused on bringing innovative and niche insurance solutions to market by partnering with specialist underwriting management agencies (UMAs), start-up businesses, insuretech innovators and brokers.

Safehomes Insurance

Our relationship with Brokers

In an environment where commoditised insurance is increasingly becoming disintermediated, GENRIC recognises the importance of expert advice in more specialised segments of the insurance market. With changing regulations and insurance distribution models, brokers are looking to new models of remuneration to ensure that they can continue to play the important risk advisory role for their clients operating in an increasingly complex world.

GENRIC’s entrenched underwriting expertise and wide range of niche short-term insurance solutions enhances the offering of the broker through cross-selling and upselling opportunities that provide for recurring income paths, whilst adding value to our underwriting partners and exceeding the expectations of clients. This, together with our expertise in developing risk transfer models, enables us to add tangible value to any broking and risk management strategy.

GENRIC’s range of niche insurance product solutions are designed to offer brokers additional lines of business that complement their existing models, without competing with existing principal agreements.

Safehomes Insurance

InsureTech

The insurance sector represents a unique opportunity for technological entrepreneurship by finding innovative ways of accessing and servicing the market. In an age of rapid technological development and evolving consumer needs, insuretech start-ups bring unique opportunities to the risk industry.

As GENRIC, we believe there is enormous potential in the InsurTech space that can enhance and add tremendous value to the insurer, UMA and broker business models. It’s in embracing this innovation and disruption to traditional models that helps build stronger, more resilient businesses – a key reason why GENRIC is already well down the line in investing on this path. The reality is that automation, analytical capabilities and technology are intrinsic to the future success of the industry and all who operate in it.

GENRIC’s focus is to partner with insuretech companies to find ways to help improve the customer experience, develop new lines of coverage that meet the evolving exposures the market is facing, and optimising and modernising traditional insurance distribution rather than completely disrupting it.


OUR PARTNERS


Safehomes Insurance

GET IN TOUCH


Monday - Friday: 8am to 5pm

Building 3, Midrand Business Park | 563 Old Pretoria Main Road | Midrand, Gauteng















Genric Insurance

SafeHomes is a product of GENRIC Insurance Company Limited (FSP: 43638) an Authorised Financial Services Provider and registered Short-term insurer.
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