MrPrice Money – a division of clothing and homeware retailer MrPrice Group – has partnered with Cape Town-based start-up RootPlatform to establish a simplified life insurance solution called LifeMatters. Moneyweb BusinessNews
Mr Price Money – a division of clothing and homeware retailer Mr Price Group – has partnered with Cape Town-based start-up Roots to establish a simplified life insurance solution called Life Matters. The insurance solution, which is underwritten by Momentum Metropolitan-owned Guardrisk, will be offered to the retailer’s existing credit customers. It will offer qualifying clients between R100 000 and R200 000 worth of life cover, depending on their needs.
He added that the product will be welcomed by low-income households, which are currently underserviced by mainstream insurers. “This product is a prime example of how household names with a strong brand identity and existing customer base can extend the services they offer to their customers by adding a suitable insurance product,” Hopley said in a statement. “The product has been designed with Mr Price’s existing customers in mind and fulfils a very real need in the market.
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