Thank you for being a loyal Pinneappler – we value your support! With transparency being our thing, we want to tell you about the latest updates in our Pineapple community 📰.
Your current Pineapple policy that covers your stuff is underwritten by Compass Insurance Company Limited (Compass Insure). You may have noticed that we recently launched our exciting motor insurance with Old Mutual Insure 🚗 .We have decided to change our underwriter and insurance partner for all our products to Old Mutual Insure 💪. This will benefit you by having one simplified and holistic Pineapple Rewards wallet while only dealing with one insurer.We want to thank Compass Insure for their amazing support and partnership over the past two years and welcome Old Mutual Insure as our new trusted insurance partner, bringing 175 years of insurance know-how to the party. We are committed to continuing our fair, simple and social insurance journey with you!
OK, what does this actually mean 🤔 ?
Relax, we’re not going anywhere! Pineapple remains your digital Financial Service Provider, however, your Pineapple My Stuff policy will no longer be underwritten by Compass Insure (FSP 12148) but will be underwritten by Old Mutual Insure (FSP 12), effective 1 August 2020.
Once you’ve opted-in, your cover will remain uninterrupted, we promise.
No worries, we’ve got your back – your premium will remain exactly the same!
We also haven’t forgotten about your Pineapple Wallet.As you know, we are all about giving the unused premium back.Should there be any accumulated balances, these will be settled once all claims have been finalised. (Please bear with us during the migration as it could take around three months).
To experience a super smooth and painless policy transition, you need to press opt-in below before 31 July 2020.
So, what’s new 🌟?
You will receive a brand-new policy number, which we will send to you after you’ve opted-in (click the button and consider it done).
A simplified excess structure awaits you – your excess (the small amount you pay on a claim before the Pineapple community pays for the rest) will be a fixed amount of R500 (except Bicycles and Jewellery) and not a percentage of the total loss anymore. No math headaches or unpleasant surprises for you as you’re informed upfront. For more info on Bicycles and Jewellery, click here.
Out with the old, in with the new – you will start your Pineapple Wallet on a clean slate and your next 12-month period begins on 1 August 2020.This will have a slightly new flavour and will be connected to Pineapple Rewards.Don’t worry, we will still distribute the unused premiums back to the community and a more formal announcement in this regard will be made soon.
Your premium will be debited by Old Mutual Insure from the same bank account as before, but your bank statement will reflect the following reference to your debit order: ‘Pineapple’ followed by your new policy number.
Your policy anniversary date will be on 1 August 2020.
We will launch a new policy section for Home Contents cover! Whoo-hoo! This means we will move relevant items, currently covered under the My Stuff policy section to be covered under our separate Home Contents policy section – without increasing your premium off course.
The following My Stuff items will be insured under our Home Contents section from 1 August 2020:
🍍 home theatre, tv, sound system, decoder etc.;
🍍 desktop pc, multimedia, digital screens etc.;
🍍 other home electronics;
🍍 home appliances and kitchenware; and
🍍 furniture, carpets, curtains etc.
🍍 The above-mentioned items may also be covered for loss or damage while these are being couriered or mailed (provided that we specifically gave you the go-ahead in writing). Yup, your precious cargo in transit – sorted.
If you are using any of your stuff for business use (including professional photography equipment) 💼, please get in touch with us to discuss some of the additional expected changes as we will handle this on a case-by-case basis to accommodate you individually – because we always put you first and ‘personal’ is how we roll. Two of the things to note:
business goods and equipment such as computers, laptops, printers, scanners, software and office furniture that are kept in your home can be covered (up to the value of R10 000 in any 12-month period); and
camera equipment will be covered under My Stuff if it is not used for professional photography (because this insurance covers your personal stuff, not your business).
Was this too much to digest? No stress, in August we will send you an updated policy schedule, reflecting all your stuff that is insured under My Stuff and Home Contents, respectively, and policy docs to scrutinise at your leisure. In the meantime, you’re welcome to give us a shout on our App if you need to debrief and we will happily answer all your questions 💁.
Stay safe. Stay insured. Stay awesome.
Bye for now 👋
The Pineapple Team