100 000 new policies handled by RubiBlue a month
Signing on average 20 new contracts per month with insurance providers and funeral homes across southern Africa, RubiBlue is experiencing rapid growth through its EasiPol product alone.
“The finance sector is closing in on fraudulent activity, and consumers want peace of mind that their investment is secure,” remarks RubiBlue MD, Chris Ogden. “EasiPol is a solution for both scenarios, and as a result, our clients are getting improved customer loyalty, and their policy holders are getting better service.”
This growth equates to an additional 100 000 new policies running through its system per month, bringing the total to 4.3 million and R320 million in monthly collections. “This growth is all in addition to the organic growth from our existing clients, an addition 52 000 policies per month are organically secured and processed using EasiPol,” adds Ogden.
The rapid increase in data collected through the policy management system is also proving valuable in better product structure for clients and places RubiBlue in a position to diversify into the data sector. “Few South African data companies exist, most have merged into larger firms in the UK and US,” says Ogden. “Being able to analyse the anonymous data we have current insight into the average age policies are taken out, the male/female ratio, the number of dependents and the average age of death as an example.”
With the diverse cultures throughout Africa and the EasiPol presence across the continent, it is working with potential partners to enhance product offerings, encouraging financial literacy and making it easier for the unbanked to access financial services.