Who we are
CreditGuard is an Innovative Credit Life Insurance (CLI) Solution, specifically designed for companies assisting clients in DEBT, in partnership with Guardrisk and Siyavika:
What we offer
Integrated Fintech Solution
At CreditGuard we understand the challenges of operating in the financial services industry in South Africa, especially the part of the industry that assists clients who are over-indebted. CreditGuard’s main aim is to give our partners the ability to generate and manage large volumes of insurance products without losing focus of their core business.
The CreditGuard CLI solution forms part of our partners workflow system. This allows our partner to enable the sale and issue of an insurance policy in two easy steps during their normal business process, while the software does all of the work in the back-end:
- All relevant information is system generated, including the customer data, repayment plan, insurance premium, customer mandate.
- This capturing and calculation requires no involvement from our partner other than to inform the client.
- At this point the premium is updated, the policy is ready to be issued, and we call the client from our dedicated Financial Services Provider (FSP) to discuss the product benefits.
- The client’s policy gets issued by our Administrator, Siyavika Risk Solutions (FSP44999).
- The client’s premium is included in their Repayment Plan and distributed monthly via IPDA.
- On receipt of the first premium by the insurer, the client is covered and will enjoy all the benefits included in their CreditGuard Credit Life Insurance (CLI) Policy.
Dedicated Broker Services
|Issuing of policies.||Access to all reports.|
|Managing all claims.||Knowledge of IFE and iPDA systems for support.|
|Submissions to IPDA.||Handling all terminations.|
|Collecting premiums.||Ability to request on system services.|
|Payouts made monthly.||Assisting as view only users.|
Responsible Risk Management
Once the book has proven sustainable and profitable, it is only natural that commercial agreements be updated accordingly. Because the system provides total transparency, CreditGuard proposes a bi-annual review and reporting session where a portion of underwriting profit (should it realise) be made available to the partner.
Our current integration with Intuitive allows for easy product development and a quick roll-out on a large scale. Further automation of the sales process and referral platforms are already underway. New product development such as an income protector, legal insurance (with the focus on labour law to protect client income streams) and a basic funeral policy are already in progress. Further integration to the Intuitive third-party payment platform will allow additional growth opportunities.
- No Medicals required.
- Accommodates Single and Joint Applications.
- Accommodates Self-employed individuals.
- Affordable premiums for clients.
- Covers all Partner fees on monthly payments.
- Covers Secured and Unsecured Credit Agreements for up to one (1) Million Rand.
- Easy and Simple Claims process where a claim gets paid out directly to the Payment Distribution Agency (PDA), nominated beneficiary, or policyholder where relevant.
- One Consolidated monthly premium that forms part of your clients’ Monthly Repayments.
- ID theft benefit.
R1,71 per R1000.
R3,36 per R1000.
R3,99 per R1000.
R3,99 per R1000.