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Virgin Money launches online buying platform

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Virgin Money launches online buying platform
Virgin Money launches online buying platform.

Virgin Money South Africa, a registered financial services provider, has launched its Online Buying platform, giving consumers more innovative options when sourcing and securing car insurance. Customers now, not only have the option of using a call centre but can also go online and become fully insured in just 10 minutes.

“While many South Africans are used to direct engagement with a call centre agent, an increasing number of consumers prefer using online application tools. Virgin Money Insurance believes that customers should have the ability to choose the sales channel most convenient to them,” says Andre Hugo, CEO of Virgin Money South Africa.

This latest innovation addresses Virgin Money’s recent findings, which highlights that one of the biggest frustrations people face when buying car insurance is the feeling of being tossed back and forth within the context of a call centre. Some customers want to both source their quote and sign up online, then and there.

“Many customers find the standard call centre process involved in purchasing car insurance quite onerous. Even when they have the option of going online for a quote, they still have to wait for someone to call them back. We want to take the pain of waiting away from the customer, not only saving them time, but also putting them in control,” says Hugo.

With this in mind, Virgin Money Insurance now enables customers to go online and become fully insured – right from the request for a customised quote through to the actual purchase.

Virgin Money Insurance has set out to champion innovation within the insurance industry. Its car insurance is an innovative product in and of itself. It’s a value-for-money offering which not only provides customers with three simple price plans which are customisable to suit the customer’s needs, but also has a no-penalty clause. This means that if you are involved in an accident that is not your fault, you will not be penalised on your premium or forfeit your 10% cash-back bonus for your claim-free period, as Virgin Money Insurance believes it is not fair to be held responsible for someone else’s mistake.

The Virgin Money Insurance online offering is the latest innovation in Virgin Money ’s digital-first drive. Just last month it launched Virgin Money Spot, a bank agnostic, peer-to-peer payment application, which simplifies the way people exchange money by removing the hassle of having to exchange banking details to make EFT payments.

“Our digital-first strategy is all about making financial services products less complicated, more intuitive, ultimately adding greater value to the way people manage their money,” says Hugo.

Edited by Fundisiwe Maseko
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