Insurtech company Granadilla is offering die-hard gamers insurance cover for their consoles, gaming rigs, VR headsets and headphones for less than R100 a month – provided the devices are less than two years old. The items are covered for theft, accidental lost and accidental damage within the borders of South Africa, and worldwide for 30 days. This does not include theft from an unattended vehicle, malicious damage, or any pre-existing conditions with the insured gadgets.
The company largely targets the millennial generation, covering smartphones, smartphone screens, tablets, laptops, smartwatches, jewellery and cameras. It also offers travel insurance and cyclist’s insurance.
Jonathan Walker, CEO of Granadilla, came up with the low-cost on-demand insurance model when his own phone and laptop were stolen. Claiming proved cumbersome so he decided to develop an app to make claiming as painless as possible. “I wanted to provide people with instant app-based insurance that adapts to their lifestyle and takes the difficulty out of claims,” says Walker, who adds that customer-centricity is at the heart of the company’s business model. “Everything we do is simple, digital and available 24/7. Granadilla combines AI, machine learning and chat bots with a business model that allows for a great customer experience, insurance that is very price competitive and relevant to lifestyle needs,” he explains.
The home-grown insurer, which launched in July 2018, says people want insurance for their gaming tech so they are providing it and making the claims process as seamless as possible.
The start-up is underwritten by Bryte Insurance.