Products

Exclusive Broker Proposition Offers Access to the Following Renasa Products

Options – A Wide Range

Intermediaries can select from a wide range of options, from binder and outsource delegations to the provision by Renasa of the complete policy and claims administration function.

Solutions – Quick and Flexible

Direct access by intermediaries to key decision-makers provides quick responses to special requests. Renasa adopts a flexible approach and will develop the right solution to meet a need.

A Broad Product Range

Renasa offers a complete range of Commercial and Personal lines products including several specialist classes

Commercial Lines

The Personal Touch

Renasa’s Commerical Lines offering provides industry standard policy wordings delivered by traditional, personal service through experienced broker managers who are mandated to bind cover, to settle claims and provide guidance in placing unusual risks. Underwriting limits are sufficient for most commercial needs. Authorisation of cover/claims is swift and efficient.

Personal Lines

A Perfect Balance of Freedom and Technology

Renasa offers highly competitive products delivered using advanced technology to price risks scientifically and to control claims costs in a systemized fashion while preserving intermediary independence and without interference in intermediaries’ own processes and systems. This improves intermediary efficiency and portfolio performance without inhibiting independence and service levels.

Specialist Classes

A Wide Range

The following specialist classes form part of Renasa’s Specialist Division and are offered through Renasa Divisions, Specialist Class Brokers or UMAs:

Cross Country Insurance Consultants

FDM Engineering Underwriters logo

IBG Underwriting Managers

Linksave

Puma Insurance

Renasa Taxi Underwriting Managers

VAPS HCV logo

Performance Guarantees Division

The Performance Guarantees Division was established in 2004. Based in Durban, the division caters countrywide for numerous building and other contractors including the freight forwarding industry.

Renasa’s Guarantees have performed consistently well

Renasa’s Guarantees Division has operated profitably since its establishment and enjoys overwhelming support from reinsurers enabling the writing of most guarantee risks in Renasa’s target market. Renasa offers a comprehensive suite of Guarantee Products Renasa offers performance, retention, advance payment and bid bonds or guarantees to the construction industry and also customs bonds to the freight forwarding market. These guarantees enable Renasa’s clients to improve their cash flow and provide the necessary documents required to meet tender and other other requirements. With the support of its treaty arrangements, Renasa is now able to offer capacity up to R 50 million to select clients.

Renasa’s Guarantees are widely accepted in the market

Renasa’s A-rating has made its bonds and guarantee accepted by most Employers including municipalities, corporate building contractors and the South African Revenue Services (custom bonds).

Renasa’s Guarantee Division focuses on quick turnaround service

Renasa focuses on providing excellent service. By pre-agreeing client facilities and putting in place the requisite documentation, Renasa is able to offer “same day” service when necessary and a 48 hour turnaround time generally if all the necessary information is at hand. Renasa promotes ongoing sustained personal relationships.

IVP Division – Inception Value Policy

Renasa’s IVP division underwrites motor policies which insure vehicles against depreciation in the event that it is stolen or written off, and automatically includes credit shortfall (free of charge) for financed vehicles. The IVP Division was established in 2010. Based in Johannesburg, the division provides a countrywide service.

Renasa’s IVP Policy insures vehicle value depreciation and has several other benefits for policyholders

The IVP Policy:

  • pays the difference between retail value at inception and retail value at date of loss;
  • automatically includes credit shortfall cover for finance of vehicles;
  • is available on financed and non-finances vehicles;
  • is available on any age of vehicle;
  • represents an increasing benefit as the vehicle depreciates;
  • represents highly economical cover;
  • is available as additional cover to comprehensive policies issued by other South African insurers;
  • will respond if the underlying comprehensive policy responds.

Renasa’s IVP Policy also has benefits for intermediaries

Benefits for intermediaries include:

  • IVP encourage retention as the benefits increase over time;
  • premiums are determined by a dynamic rating engine already integrated to all major policy administration systems;
  • IVP represents an attractive cross selling opportunity.
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