Momentum Short-term Insurance, together with the Multiply Momentum rewards programme, has launched a new online tool which allows people (whether or not they are a Momentum customer) to assess their risk profile.
The Safety Score is a free online tool that assesses the personal, home and environmental, and vehicle risk profile of South Africans. TIt measures aspects of a person’s safety and ranks them according to a grading scale. The score that is attained then offers recommendations on ways to safeguard themselves and loved ones against potential risks and threats.”
The Safety Score tool
Etienne du Toit, business development actuary at Momentum Short-term Insurance, noted: “It’s an unfortunate reality that South Africa has one of the highest road accident and crime rates in the world. This new tool was developed to help people take simple steps to become more aware of everyday risks and dangers. It also recommends preventative measures to avoid risky situations and advice on how to stay safe.”
The Safety Score allows you to fill in information pertaining to home and vehicle, and assesses how effectively these are protected. It then provides suggestions on possible interventions that could increase the safety of these items.
Momentum pointed out that these suggestions include installing burglar bars and connecting your home (or vehicle) to an armed response service, as well as recommending that you join your local community policing forum.
Added benefits for policyholders
Momentum Short-term Insurance policyholders will have the added benefit of earning a cash-back bonus every year, even if they claim, simply by completing the Safety Score questionnaire. Policyholders can receive up to 20% of their premiums per year as a cashback Safety Bonus.
“Members of Multiply can double their cash-back bonus, earn rewards points for completing the Safety Score, and can qualify for discounts with Multiply’s selected group of safety partners,” revealed Momentum.
If you validate your answers, in other words, if you implement the recommendations made by Safety Score and provide proof you will earn additional Multiply bonus points.
Momentum pointed out that you can validate the implementation of the suggestions through:
· A photo of the burglar bars on your windows at home,
· A certificate of a vehicle tracking system installation, or
· Proof of payment for security measures purchased.
The Momentum website explained: “If you have validated at least 50% of your score, your Safety Bonus will be activated. If you can't validate at least 50% of your score, you will not earn a bonus.
“You will need to complete the Safety Score on an annual basis to qualify for the bonus, since there will be an expiry date on the questionnaire, but we will let you know when your questionnaire is up for renewal.”
However, the company highlighted that while Momentum customers will receive added benefits, the Safety Score tool is available for use by all South Africans, “as Momentum is committed to contributing to a safer society and in this way enhance their financial wellness.”
Justmoney’s editor, Angelique Ruzicka, tried out the tool. For her review, click here.