MiWay, often misspelled as MyWay, is a relatively new financial service
provider that provides services direct to the South African public. They currently
offer short-term insurance, motor warranty and credit life insurance.
MiWay is headed by René Otto who was one of the founders of
Outsurance. Ironically Outsurance are now one of their biggest competitors.
The financial and monetary muscle behind MiWay, in the form of its shareholders
Sanlam,
Santam and PSG, give them a huge advantage over
other newcomers to the insurance market in South Africa.
MiWay’s main USP’s (unique selling points) are that they allow their clients to
buy and manage their insurance and investment portfolio online and that they reward
customers for not claiming via their MiRewards programme.
Motor insurance and home insurance are MiWay’s key risk cover options:
Motor Insurance
MiWay provide cover for private and business vehicles, motorbikes, trailers and
small delivery vehicles. They offer a choice between insuring the vehicle for the
retail value or the market value. For vintage cars and bikes they allow consumers
to insure the vehicle for a negotiated value. Cover can also be added for car sound
equipment and accessories. A car hire option can also be added.
Other motor related insurance products offered by MiWay include:
MiWatercraft
This cover option is for any motorboat, ski boat or wet bike used privately. It
also covers trailers used to transport the watercraft.
MiFinance Protector
Should you pass away this policy settles any outstanding money owed on your motor
vehicle.
Home Insurance:
Three cover options form the core of Miway’s home insurance offerings namely MiHome
Stuff (contents insurance), MiPlace (building insurance) and MiMovables (out and
about insurance).
MiHome Stuff
This home insurance policy provides cover for your belongings inside your house
or flat. This typically includes cover for items like TVs, sound systems, electronic
equipment, furniture, clothing and even detached carpets.
MiPlace
This cover option insures the buildings on your property as well as all permanent
fixtures and fittings. It also insures your borehole and pool pumps.
MiMovables
Expensive items like jewellery and electronic equipment (cell phones, cameras etc.)
which you typically carry with you outside of the home are covered by this policy.
At the heart of MiWay’s marketing strategy is its MiRewards program. Any active
client automatically qualifies for this rewards scheme. It works by refunding clients
1 month’s premium after 3 years of claim-free membership. The premium is refunded
to the client in Miyas (kind of like ebucks). Essentially MiRewards provides a form
of compensation to clients who are low risk and who are loyal to MiWay.
To contact MiWay, use the following:
Call Centre: 0860 64 64 00
Fax Number: (011) 990 0001
Postal Address:
Postnet Suite #382
Private Bag X121
Halfway House
1685
Physical Address:
338 16th Road
Randjes Park
Midrand
Email: info@miway.co.za
MiWay and variations of this name/trademark belong to MiWay Insurance Ltd and
not to InsuranceHound.co.za.