VAPS Insurance Underwriters underwrite Heavy Commercial Vehicle and VAPs
VAPS started out with a small group of people with BIG dreams and aspirations. From the very beginning, our aim has been to provide innovative Heavy Commercial, Value Added and Commercial Lines Insurance products for insurance brokers and their clients, to suit their specific needs. Dreams have materialized and today, VAPS stands firm a fast-growing, Gauteng-based insurance company that underwrites products throughout South Africa
VAPS Insurance Underwriters (Pty) Ltd is an innovative niche Insurance Underwriter, specializing in Heavy Commercial Vehicle (HCV) insurance and other Value-Added insurance products. We have expanded our HCV product offering to accommodate off-the-road aspects of South African transport businesses, by adding commercial and domestic sections to our HCV policy. Although our focus is centered around transport insurance, we also provide specialized insurance for commercial businesses. Our commercial policy is specifically designed to provide the best-suited cover for all your insurance needs. This is how we continue to deliver on value for our clients.
Read the latest thought leadership by the VAPS team:
HCV: Making it work for all stakeholders
In a discussion on HCV insurance, Abrie Olivier and Tyler Botha highlighted the significant challenges facing the trucking industry in South Africa. Amidst a 1700% increase in SASRIA premiums and rising operational costs due to fuel price hikes and global part shortages, the industry faces a precarious balancing act. Tyler elaborated on the pressures of setting accurate insurance rates, which often results in rates that are either unaffordable or insufficient to cover increased repair costs. The VAPS strategy involves active involvement in claims handling and underwriting, close collaboration between claims staff and underwriters, and negotiations for better parts pricing with OEMs. This approach aims to manage costs effectively while maintaining service quality.
Read the full VAPS article here
HCV Insurance: Challenging with opportunities
Abrie Olivier and Tyler Botha discussed the complexities of Heavy Commercial Vehicle (HCV) insurance in a challenging South African market. VAPs Insurance, underwritten by Renasa Insurance, offers comprehensive insurance for trucks, buses, and commercial trailers, including unique benefits like cross-border towing and extended territorial coverage. They also provide specialized covers like mechanical breakdown and personal accident insurance. The conversation highlighted the crucial role of telematics in managing risks associated with HCV operations. Modern telematics help monitor driver behavior and vehicle conditions, significantly aiding in loss prevention and improving safety. Additionally, VAPs has established a Risk Services Bureau to enhance client support through constant vehicle monitoring.
