Says LUM’s Sarel Roux, Executive: Operations and Compliance: “This is a great honour. What makes an award such as this even more special is the fact that Legacy specialises in a field where we are measured by the same yardstick as the insurers themselves. With this award also comes great responsibility. Being recognised as a leader in our environment we at Legacy understand that it also places a duty and responsibility on us to lead by example. We will therefore continue to strive to make the impossible possible! We thank our dedicated staff and all the brokers who have supported Legacy over the years.

“In an industry where independent brokers are competing with direct insurers for clients, it is more vital than ever that policy information and a range of functionality is available at the touch of a button, putting control directly into the hands of brokers and clients alike. This can best be achieved by using a custom-built broker system such as the cutting-edge Legacy On-Line platform developed by LUM.”

The post LEGACY named Best Portfolio Administrator for third time appeared first on Legacy.

The Benefit:

If your client’s vehicle is insured on the “Replacement Value Policy”, no matter how old the vehicle, it will be replaced with exactly the same or the subsequent replacement model. This benefit is subject to the requirements and conditions as set out below. Included at no additional cost is the standard option car hire for 30 days.

Requirements And Rules:

• Only vehicles above the value of R250 000 can be insured under this option.
• Cover is limited to a maximum of the sum insured of the vehicle.
• Only vehicles that are registered as new for the first time with the policyholder as the first owner, can be insured under this option.
• Vehicles can only be covered for 5 years on the “Vehicle Replacement Policy” – the vehicle will then be placed back onto the existing standard package policy, where it will be insured for retail value.
• Vehicles must be added to the policy immediately after purchase or not longer than 3 months after date of purchase.
• This is not a stand-alone policy and cannot be issued on its own – your client has to have existing supported policy with House Contents etc.
• Security: All vehicles above R250 000 in value is required to be equipped with an electronic tracking system — it is compulsory for Toyota Hilux and Fortuner vehicles to have an early warning type electronic tracking system.

Upon renewal, your client should confirm the value of the vehicle as specified by an authorized dealership to ensure that the insured value of the vehicle is adequate to be able to replace the vehicle with the same or similar model.

To find out more, contact us on 086 124 3648!

The post Replacement Value: Benefits & Requirements appeared first on Legacy.

Legacy sat down to speak to Duwalcoe’s short-term insurance manager, Hannes Nel.

How did you start in insurance?

“I started by accident. I was employed by Telkom for 19 years and retrenched in 2005. A year later, my life broker Daniel Dekker, asked me to assist with the short-term division at Duwalcoe. At that time, there were only two of us in the short-term division and I decided to leave. Daniel asked me to stay on as the other person was in the process of emigrating and he need me to run the section. Since then we have grown to such an extent that we have four dedicated reps with two assistants, as well as five admin people looking after our clients.”

Any advice to new entrants to the short-term insurance broking space?

“This is a challenging field so any new entrants should equip themselves with the necessary knowledge and qualifications in order to add value to prospective clients.”

What is your view on the importance of technology when it comes to the insurance market?

“Technology is playing a bigger role than ever in the insurance market with regard to registering claims and accessing policies to do amendments. However, there is still a great need for skilled advisors that can explain and counsel clients on different products. After the product has been sold, then technology can assist the broker and client to manage the portfolio effectively.”

How long have you been working with Legacy Underwriting Managers (LUM) and how did you decide on the options for product, access to multiple underwriters and your administration?

“We have been working with Legacy since 2010. Profiling of the client is key to Duwalcoe as we use this in deciding the correct product suitable for that person. The fact that we have access to multiple underwriters via the Legacy On-Line system allows us to provide the client with options and ensure that he or she will select the most suitable policy for them.”

Your experience of dealing with the Legacy On-Line (LOL) system?

“It is easy to operate once you understand it and have mastered it.”

To find out more about Duwalcoe Financial Consultants, go to duwalcoe.co.za

The post Meet Duwalcoe Financial Consultants … part of the Legacy family appeared first on Legacy.

ACRUSURE Brokers has been active in the short term insurance industry since 1991 and offers a variety of personal, motor and house content insurance products. The company also specialises in commercial insurance for the business owner. It is a licensed service provider in terms of the Insurance Act with the Financial Services Board and is a member of the Financial Intermediaries Association (FIA).

Legacy sat down to speak to ACRUSURE portfolio manager, Ronel Roeloffze.

How did you start in insurance?

“ACRUSURE was started 28 years ago by my husband Attie Roeloffze who wanted to provide a holistic service to cater for all of his clients’ financial needs. I joined the team in 2006 after working in the medical field for 21 years as a speech therapist. I was able to bring a wide knowledge of the medical field to the business. It was the same year that we moved from Centurion to Pretoria and I made the decision to sell my private practice and join my husband in his well-established brokerage. It was the start of an exciting new adventure.”

How many staff work at your brokerage?

“ACRUSURE has three qualified personnel: Zelda Erasmus is our claims and renewal official, Annarika Herman is our administrative official and I am the portfolio manager.”

Any advice to new entrants to the short term insurance broking space?

“You need to qualify as soon as possible in all areas (personal and commercial). The short term insurance industry is highly competitive and you have to be able to provide your clients with the best possible advice; build a personal relationship with them and know their financial needs and risks first hand.”

What is your view on the importance of technology when it comes to the insurance market?

“Technology is key to our business operations as it helps produce the results our clients want in a very short period of time.”

How long have you been working with Legacy Underwriting Managers (LUM) and how did you decide on the options for product, access to multiple underwriters and your administration?

“Legacy has been ACRUSURE’s “household administrative brand” for the past decade. Legacy gives us the opportunity – through multiple underwriters and with a variety of products available – to be able to fulfill each client’s short term insurance needs regarding the management of their insurance portfolio. It does this with market related products, competitive premiums and excellent claims service.”

Your experience of dealing with the Legacy On-Line (LOL) system?

“Legacy On-Line is an easy, fast and user friendly system to work with.”

To find out more about ACRUSURE, go to www.acrusure.co.za

The post Meet ACRUSURE … part of the Legacy family for a decade appeared first on Legacy.

In an industry where independent brokers are competing with direct insurers for clients, it is more vital than ever that policy information and a range of functionality is available at the touch of a button, putting control directly into the hands of brokers and clients alike. This can best be achieved by using a custom-built broker system such as the cutting-edge Legacy On-Line platform developed by Legacy Underwriting Managers.

It has become crucial that brokers have access to features like generate multi-quotes themselves and that both brokers and clients can directly request amendments to policies on the policy administration system.

One of the ways in which Legacy assists with this is via the revolutionary My Policy App, which allows the reporting of glass, geyser and fast track claims with the click of a few buttons. It is also fully integrated into Legacy’s back-end system with automated processes dealing with these actions quickly and accurately, resulting in an improved client experience and high levels of client satisfaction.

Says Legacy’s Christo Crafford: “Legacy was born from a back-office system and administration platform developed for brokers, and today services close to 200 brokers. Legacy’s On-Line (LOL) system is unique in that it was designed and built from the ground up by brokers for brokers.”

“Agility distinguishes Legacy from the rest of the market as well as the in-depth insurance knowledge and experience of the in-house IT development team. Having IT in-house allows for a quick change and improvement cycle, enabling the Legacy management team to quickly and effectively deliver on opportunities identified by both brokers and underwriters alike to improve on functionality and automation.”

“Further, having an IT team that has extensive insurance knowledge and experience, further bolsters Legacy’s ability to roll out improvements and changes rapidly and efficiently.”

“Various back-office processes have been successfully automated, in conjunction with insurers, during the past 12 months and further exciting enhancements are in progress and on the program for the months ahead.” concludes Crafford.

To find out more, please visit www.lum.co.za

The post Why Technology Is Vital For Short-Term Insurance Brokers appeared first on Legacy.

A perfect example of this is its affiliation with Santam Insurance, an organisation that has been operating in South Africa for more than 100 years and whose size creates stability and confidence in the insurance market.

Legacy has built a stable and established business over the past 35 years in tandem with Santam.

Says Andrew Geyer, key accounts manager for Santam’s Outsourced Business: “Legacy is a well-established business with exceptional management and an excellent reputation for risk management. It’s a valuable role player and has proved itself time and again in Santam’s Outsourced Business space.”

Retention of clients is key to creating the day-to-day, month-to-month stability that then lasts for years and decades. With this long-term retention comes trust which not only exists between two companies such as Legacy and Santam but also between Legacy’s Santam policy holders and both entities.

“Legacy consistently has some of the lowest churn and best retention figures in the outsourced business space” says Francis Namathe, Santam Portfolio Manager in the Gauteng region, “and it works with the type of broker and clients who are loyal to a brand.

“Legacy is the glue that binds the triangular relationship between underwriter, broker and client” concludes Namathe.

Adds Daniel Stevens, Head of Portfolio Administration: “For the customer there is overwhelming choice in the insurance industry, so retaining a client is key, and placing them at the centre is non-negotiable. Legacy’s ability to serve its and clients’ partners has been proven over time and is key to its success. Santam is proud of its association with a major role player such as LUM in the insurance industry.”

Legacy Underwriting Managers are also proud of is its use of the latest technology and the automation of its business processes that provide policy holders with a superior client service experience. The prompt and accurate execution of policy variations and provision of information as well as the efficient and fair handling of claims are all great tools ensuring client retention.

Never resting on their laurels, both Legacy and Santam continue to work towards entrenching and enhancing the value of creating stability through retention.

To find out more, please visit www.lum.co.za or call Christo Crafford on +27 82 920 3062 or send your contact details to christoc@lum.co.za

The post Retention And Stability In The Short-Term Insurance Market appeared first on Legacy.

There is never a good time to receive word of an underwriter closing down a line of business or permanently shutting up shop.

When Legacy received notice in November last year that Lion of Africa (LoA) was winding down its operations, the team went into overdrive and not only very quickly found alternative cover through another underwriter, but also set an automated IT driven solution in place.

Clients were informed of the LoA closure while at the same time receiving details of the alternative cover on offer so they could seamlessly move forward. Their responses, choices and permissions were recorded electronically and brokers were regularly updated and appraised of the progress and outcome.

The result was that brokers were able to enjoy a stress-free holiday season knowing that their clients were safe-guarded against not having cover whilst at the same time being dealt with efficiently. There was 100% positive feedback, proving that life is easier when you work with Legacy.

Says proud Legacy team member Anel van Schalkwyk: “We are very excited about technology and the possibilities that it brings, and Legacy has constantly proved that its automated processes are fast and effective.”

The underwriter taking over the business was equally impressed and complimentary with regards to the highly automated, quick and efficient systems-driven process employed by Legacy using the Legacy On-Line (LOL) system. Moreover, all required communication and disclosures were done correctly and within the required time frames.

Nicky Greyling from APBCO Brokers adds: “The high level of automation (for traditionally tedious processes like following up on unpaid debit orders and renewals) makes the Legacy On-Line system a pleasure to deal with. It also alleviates our day-to-day administrative burden. With the recent Lion of Africa closure, Legacy made use of an automated process – not only to inform affected clients – but obtain their preferred course of action and permission to move their business. They then transferred all business whilst keeping us informed every step of the way. It was a truly easy and painless process for everyone involved.”

Says Legacy’s Christo Crafford: “In a world where administrative and compliance burdens have increased exponentially, it makes sense to work with an administration system that allows brokers to focus on client service and marketing. We are here to help brokers grow their business while all aspects of compliance, best practice and treating customers fairly are taken care of!”

To find out more, please visit www.lum.co.za or call Christo Crafford on +27 82 920 3062 or send your contact details to christoc@lum.co.za

The post Legacy Makes Brokers’s Lives Easier Thanks To Technology appeared first on Legacy.

How do you know if you qualify for the Hollard Platinum benefit?

1. If you had the Golden Policyholder 1 Status for 2 years and then the Golden Policyholder 2 Status for another 2 years, with favourable claims statistics, you will be rewarded with Golden Policyholder 3 Status, which includes the Platinum Benefit from Hollard.
2. You need to maintain the Golden Policyholder 3 or Golden Policyholder 4 status in order for your first benefit payout to take place in the sixth year.

Where does this extra cash come from?

Hollard gives a pre-determined percentage of their premium (depending on your Platinum status) back to you as a reward, provided that the Platinum Status has been maintained throughout the full period.

For the Hollard policy holders that maybe did not qualify yet, let this serve as some encouragement to manage your portfolio in such a way, that you may also enjoy this nice surprise in time to come.

NOW THAT IS EXITING NEWS!

Contact us

The post GREAT NEWS! Hollard Platinum clients have something to look forward to. appeared first on Legacy.

During times of personal financial struggle or an economic recession you may think that paying your insurance premium, is a “pay-away” and you do not see any benefit from this money being paid to an Insurer.

Take a moment and place yourself in a situation when you might need more than just a pay-out of your claim.

You were involved in a vehicle accident.  What now?

Legacy Underwriting Managers is only a telephone call away to assist you with the following:

• Roadside & accident assistance including tow-in, courtesy transport, overnight accommodation, arranging your preferred mode-of-transport to reach your destination and vehicle repatriation. 
• Protect you and your vehicle at the scene of the accident until the tow-in service arrives.
• 24-hour Emergency services – including the dispatch of necessary emergency response, transportation to the most appropriate medical facility, guaranteed payment of a deposit amount on admission to hospital and/or trauma unit and child safety for minors left stranded by the emergency, to name a few.

Can you afford all of these services yourself when you were involved in a vehicle accident, or rather trust the payment of your insurance premium to take care of you when you need help?

Call Legacy now!

Article by Theresa du Preez and Christo Crafford

The post Why your Insurance Premium is not a grudge purchase. appeared first on Legacy.

Old Mutual Insure, OMI to their friends and family, recently joined forces with Legacy Underwriting Managers to bring Legacy brokers access to the top tier underwriters in South Africa.

OMI is a wholly-owned subsidiary, the only short-term insurance company of the Old Mutual Group and is the oldest short-term insurance company in South Africa with a history dating back over 180 years.

Legacy will be providing a bespoke Legacy scheme from 1 January 2019 for selected brokers and clients and a range of OMI products which will become available via the Legacy On-Line (LOL) platform during the course of 2019. These products and enhanced functionality will be rolled out via road shows, so keep your eyes peeled for ‘save the date’ invites early in the new year!

Legacy has a solid track record and irreproachable reputation for policy administration with full underwriting and claims mandates.

“In times of turmoil when smaller, less stable companies succumb to scandal, financial instability and knee-jerk re-underwriting as well as strategic direction changes, it is good to know that Legacy’s brokers (and their clients) have access to a stable technology platform and products underwritten by strong, stable, reputable insurance companies!”, says Anel van Schalkwyk from Legacy.

We are very exited about this new venture and can’t wait to share all the great new possibilities with you as we grow with them in the new year.  So be on the lookout and watch this space …

The future looks bright for Legacy brokers with OMI in 2019!

Article by Anel van Schalkwyk & Christo Crafford

Contact us for more.

The post Celebrating a new business partner appeared first on Legacy.