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Media release

Nine out of every 10 insured consumers claim less than they will ever pay in short-term insurance premiums — effectively subsidising 10% of multi-claimants and leaving the 90% to lose out big. It’s a startling figure. It’s this that SA startup Solvency, which recently clinched a multi-million rand investment, aims to tackle with a new product which it plans to launch on 1 January. The startup links a client’s insurance premiums to a savings account, in their name, and allows complete control of what percentage of premium goes to risk and what goes into direct savings, with interest earned. Behind the startup is Mutoda Mahamba (pictured above) — a former actuarial analyst, who has spent 10 years at Hannover Re, Absa Insurance and Momentum & Metropolitan Holdings...


I have had non-interrupted short-term insurance cover for 12 years and I’ve not missed a single monthly premium in that period. I was 24 years old when I bought my Golf GTi and I remember my first insurance quote was almost equal to the monthly instalment for the vehicle finance –I was perceived to be high-risk because of the combination of my age and driving a high-performance vehicle. I’m still driving my Golf GTi and over the years I have expanded my insurance portfolio to include a house, contents, electronic devices and bicycles. Spoiler alert! - I have not had a single insurance claim in 12 years. Had I saved up my insurance premiums in an interest-bearing account, where would I be right now?

At an average premium of R2,500 over the 12 years, and assuming a modest money market return of 6.5% per annum, I could have saved up R1.2m. I would afford today to self-insure everything except my house...

WHAT WE DO

We offer digital self-service, flexibility to switch cover on and off and the transparency to track your insurance savings account “ISA”. Getting insured with Solvency is simple! There is no paperwork. Everything can be done from your phone or computer.

Solvency is the best way to insure

Media release

Nine out of every 10 insured consumers claim less than they will ever pay in short-term insurance premiums — effectively subsidising 10% of multi-claimants and leaving the 90% to lose out big. It’s a startling figure. It’s this that SA startup Solvency, which recently clinched a multi-million rand investment, aims to tackle with a new product which it plans to launch on 1 January. The startup links a client’s insurance premiums to a savings account, in their name, and allows complete control of what percentage of premium goes to risk and what goes into direct savings, with interest earned. Behind the startup is Mutoda Mahamba (pictured above) — a former actuarial analyst, who has spent 10 years at Hannover Re, Absa Insurance and Momentum & Metropolitan Holdings...


Join Solvency Insurance

I have had non-interrupted short-term insurance cover for 12 years and I’ve not missed a single monthly premium in that period. I was 24 years old when I bought my Golf GTi and I remember my first insurance quote was almost equal to the monthly instalment for the vehicle finance –I was perceived to be high-risk because of the combination of my age and driving a high-performance vehicle. I’m still driving my Golf GTi and over the years I have expanded my insurance portfolio to include a house, contents, electronic devices and bicycles. Spoiler alert! - I have not had a single insurance claim in 12 years. Had I saved up my insurance premiums in an interest-bearing account, where would I be right now?

At an average premium of R2,500 over the 12 years, and assuming a modest money market return of 6.5% per annum, I could have saved up R1.2m. I would afford today to self-insure everything except my house...

WHAT WE DO

We offer digital self-service, flexibility to switch cover on and off and the transparency to track your insurance savings account “ISA”. Getting insured with Solvency is simple! There is no paperwork. Everything can be done from your phone or computer.

Solvency Insuretech

Media release

Nine out of every 10 insured consumers claim less than they will ever pay in short-term insurance premiums — effectively subsidising 10% of multi-claimants and leaving the 90% to lose out big. It’s a startling figure. It’s this that SA startup Solvency, which recently clinched a multi-million rand investment, aims to tackle with a new product which it plans to launch on 1 January. The startup links a client’s insurance premiums to a savings account, in their name, and allows complete control of what percentage of premium goes to risk and what goes into direct savings, with interest earned. Behind the startup is Mutoda Mahamba (pictured above) — a former actuarial analyst, who has spent 10 years at Hannover Re, Absa Insurance and Momentum & Metropolitan Holdings...


Solvency Insurance

I have had non-interrupted short-term insurance cover for 12 years and I’ve not missed a single monthly premium in that period. I was 24 years old when I bought my Golf GTi and I remember my first insurance quote was almost equal to the monthly instalment for the vehicle finance –I was perceived to be high-risk because of the combination of my age and driving a high-performance vehicle. I’m still driving my Golf GTi and over the years I have expanded my insurance portfolio to include a house, contents, electronic devices and bicycles. Spoiler alert! - I have not had a single insurance claim in 12 years. Had I saved up my insurance premiums in an interest-bearing account, where would I be right now?

At an average premium of R2,500 over the 12 years, and assuming a modest money market return of 6.5% per annum, I could have saved up R1.2m. I would afford today to self-insure everything except my house...

WHAT WE DO

We offer digital self-service, flexibility to switch cover on and off and the transparency to track your insurance savings account “ISA”. Getting insured with Solvency is simple! There is no paperwork. Everything can be done from your phone or computer.