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I'm Peter Panayi. I've been a Financial Advisor for 13 years. I've been with 1.618 Advisory Rosebank for 2 years now. I do Investments, Life Insurance & Short Term Insurance.

Unfortunately, when it comes to Short Term Insurance it is a grudge purchase anywhere in the world. No one else to pay insurances on anything.

For us here in South Africa, we don’t have a government that takes care of us with death or disabilities loss of jobs. They may, very slightly, but not like overseas where: what people get from their government, they can survive and live off of for a while.

In South Africa the crime is also very high, so if we're talking specifically about car insurance, there's a lot of car theft and car accidents.

Even though it is a grudge purchase, it's so essential to have it. It's a necessity in our country. Unless you have a lot of money in the bank and you don't need insurance – or you can pay for damages and third party damage - insurance is a must.

When looking for insurance, a lot of people look for the cheapest price. Unfortunately, the cheapest price doesn't get you the best product. Over the years Discovery has changed the climate across the board with life insurance, car insurance, commercial insurance, home insurance.

Even with investments they have made it better for the consumers - or the buyers - out there to have life insurance and car insurance. So, with the car insurance Discovery have created a nation of better drivers.

The rates of accidents and deaths on the road are one of the lowest of all insurance companies because of the offerings through Drive - helping people drive better and understand when they're doing wrong on the roads. Things like braking hard, skipping red robots etc.

“Tell us more about Discovery Drivers vs drivers on any other Insurance?”

Diamond drivers are defintely the best. We've seen the stats: I, myself, am a stats-man, I love my stats and my numbers and the stats don’t lie.

Discovery has shown that the Diamond Drivers, even the Gold Drivers, are the ones less likely to have car accidents, pass away, or have a claim. But what has driven drivers to become Diamond Drivers is the incentives that Discovery gives them. For example, up to R1500 fuel cash back per month. 25% of Uber drives. There's also little perks that they give that they give you if you plug in your Insurance with your Life and Investments and Vitality and everything else that they do offer on their platform, you get even more back in Vitality Miles. (The Miles program is the best in the country).

Knowing that you're less at risk of harming yourself or somebody else on the road is more important than in R2000 back a month. Our life is more important. If the whole nation were Diamond Drivers, the accidents would be very, very minimal.

“Do you speak to your Life Insurance clients about short term Insurance?”

Yes, 100%. They are all hand in hand nowadays That's the integration model Discovery has created and it's so successful. If you're a better driver, the chances of you having higher disability payouts or death payouts are much less. Discovery sees that, and they reward you, especially if you are a Diamond Driver.

If you haven’t claimed for the year, there's a 0% escalation on your policy. So, if you have a R5000 policy, you’re saving up to R700 the next year just because you're a Diamond Driver. Discovery also knows that the chance of you getting disabled in a bad car accident are much less so your premiums on your Life Policy don’t go up much as well. So, it's all integrated, they will see it wholistically.

Watch the full video here: https://youtu.be/Ve2LDmAUJ6Q