1Lifedirect was launched on March 14 2006 with the vision of transforming and improving the SA life insurance industry.
1Lifedirect MD Anton de Souza says that because 1Lifedirect is 100% direct and has low overheads and no broker commissions, it can rebate commission usually paid to brokers back to the consumer. It offers customers the opportunity to deal directly with their insurer - whether over the Internet or via its state-of-the-art call centre, which provides customers with personal control of their life insurance needs.
It was the first life insurer to offer life cover entirely online, with no need for telephonic contact at any point in the process. "The established life insurers are reluctant to set up a direct business as they are afraid of the backlash from agents and brokers. But 1Lifedirect does not have any of this legacy business," says De Souza.
One other life insurer does offer direct insurance, but it has focused only on cases of R200 000 or less, while 1Lifedirect goes right up to R4m.
