Elevate: a new age for risk cover
Who is Elevate?
Elevate is a new market entrant, backed by Allan Gray, Centriq Life Insurance and Hannover Re. Elevate aims to help clients live more and worry less – through customer-centric risk products that are customizable to client needs. Elevate set out to make the client acceptance the quickest and easiest process in the market – where underwriting questions and applications are done in just a few minutes, online.
Elevate firmly believes in helping clients live a long, healthy, prosperous life – which is supported by their holistic wellness support. As a client invests in their health and wealth, Elevate invests in them through the easy-to-follow rewards programme, that offers up to 35% cash back every month.
Opportunities for you, our partner financial advisers?
ICON is one of the few exclusive distributers of the Elevate product house.
Products are clear, easy to understand, and easy to sell.
If you have clients who simply cannot bear an arduous admin and underwriting process – then this is the solution for you! Elevate could be the first choice for healthy lives, because of the straight-though onboarding process and cover that’s active in minutes.
Underwriting is manual and slightly longer for clients with some pre-existing conditions, however, the tech and online journey allows for a client-centric experience.
Elevate’s dynamic data integrating (leveraging medical aid and pathology lab data), serves to track and validate the disclosures made by each customer and correct any non-disclosures. This acts as extra security and protection for your, the advisers, ensuring accurate cover and a quick, uncomplicated claims process.
The proactive approach means continual alignment with customers on their risk profile, and ensures confidence in the cover for both you the adviser and the client.
The broker portal provides some of the easiest servicing and self-service tools out there.
Whilst it’s an unknown brand right now – Elevate have the backing of Allan Gray, and products are written on the Centrique license – which is a cell captive of Sanlam (giving them massive backing and financial support!)
Why has ICON chosen Elevate as a key partner going forward?
There is a clear strategic & purpose alignment with ICON & Elevate; ICON wants to enable people to have financial freedom through smart and efficient financial planning through great advice and Elevate wants to allow people to live more and worry less.
In addition, Elevate’s products and services seamlessly serve advisers who are looking for a neat solution that save themselves and their client stress and hours of wasted admin time. The quick online acceptance is easy to use and makes the selling process that much better; now you can focus on planning and relationship building with clients.
From a product perspective, Elevate have developed a set of solutions that support the ICON Risk Guidance view. We will unpack this in a little more detail with our training sessions.
