A South African-owned insurer criticised for “unacceptable” sales practices has launched an industry-first rewards scheme to boost its Australian customers.
Insurer Youi created YouiDollars, a new currency under its new YouiRewards program, which was designed to reward policyholders with savings on everything from daily purchases such as food and clothing to life experiences, The Chronicle
The program was launched this week with the Youi app, now available for download at the App Store or Google Play.
So how does YouiRewards work?
Youi will give customers half their premium in the form of YouiDollars at a dollar for dollar value. These can be exchanged for discounts on a range of retail, leisure, entertainment, and dining offers from over 2,000 participating partners, including Events/Village Cinemas, Ticketek, Flight Centre, and Hungry Jacks, and as many as 24 local Sunshine Coast businesses, The Chronicle
YouiDollars can also be used instantaneously without having to save up thousands of points.
Youi CEO Danie Matthee said he was excited to see YouiRewards grow from a “fledgling idea” to an app.
“The delivery of a mobile rewards program that provides benefits to customers based on their insurance premiums is an industry first and something we are extremely proud of,” he said.
“Youi puts huge emphasis on customer satisfaction and we developed YouiRewards because we saw the obvious benefits for our customers and the businesses who partnered with us.
“We get that our customers expect great service, competitive premiums, and quality products, but we also want to reward our customers with significant savings on everyday purchases, cementing our brand promise ‘We Get You’ even more.”
Peter Nipperess, owner of Hot Pipis Mooloolaba, said the scheme provided them with a great opportunity to broaden their reach to Youi's customers.
Youi pleaded guilty to 15 charges of sales breaches in New Zealand, and was fined $94,000. At the time, Matthee “unreservedly apologised” to customers and said Youi had “speedily implemented changes to our business practices”, The Chronicle
Youi apologises to Aussie customers
Youi’s growth declines after bad press
Insurer Youi under under ASIC investigation