FAQ’s


Insurance

Trucksurance is an intermediary. They specialised in providing innovative insurance solutions to truck owners. They also act for Guardrisk under a mandate. They issue all the policies and do all the insurance and claim administration for Guardrisk’s Tandem Equity cell. They are also highly competent advisors.
Trucksurance already do all the work for Guardrisk. They issue the policies and administrate all the claims. They are also competent insurance advisors.
They are uniquely positioned to provide you with an efficient and therefore most competitive service.
We do respect that you may have an existing trusted relationship with your broker and may want to continue to use the services offered by that broker. This is easily accommodated.
DriveSmart is an on-road risk management system designed to reduce road-accidents. It has a proven track record and is the system of choice of a number of large corporates who run their own self insurance programmes.
DriveSmart evaluates how defensively every kilometre is driven by every driver & holds the driver accountable for his unique safety rating. DriveSmart issues a weekly safety rating for every driver. Drivers are called and counselled through DriveSmart’s highly effective Influence Lab.
If they don’t, as shareholder, you have immediate access to the board and to the chairman of Tandem Equity. You can also raise any grievance at an AGM. Imagine all of your clients in one room listening to a complaint about you. That would be really bad for business. We have structured things in a way that every year all Trucksurance clients get together in one room – as you would anticipate Trucksurance only want the comments made about them in that room to be positive.
Also, if Trucksurance did not act fairly they risk having their mandate cancelled by Tandem Equity & Guardrisk and as Tandem Equity is their biggest client we doubt that they would risk treating any member unfairly.
It is also important to note that most brokers prefer to work with one or two particular insurers. Your current broker probably works this way. Trucksurance is no different – they have forged a strong relationship with Guardrisk.
Generally speaking, these relationships work well for both the broker and his or her clients. It does however mean that there is no single broker that adequately represents every insurance product available to you as a Truck Owner. From time to time it is advisable, therefore, for you to test the market by using a number of different brokers to get comparable pricing. This is the only way to know that you are getting a market related insurance deal.

Risk Management

Guardrisk has a unique business model. Their business comprises multiple cells rather like the cells in the honeycomb of a beehive. Each cell is owned by a different corporate entity. Cell owners, like Tandem Equity, are empowered to run their own insurance businesses within each respective cell & accordingly to own the profits of that particular cell.
Other insurers simply bank the profit they earn off their customers for themselves.
A Cell Captive is another name for a ‘honeycomb cell’, as described above. It is like a legally formalised business unit within an insurance company. Legally speaking, this business unit is owned through the issue of a special class of share in the insurance company.
Most often it is because of a lack of understanding of the benefits to you or your broker could be conflicted between looking after your interests and looking after his own.
Most brokers have preferred relationships with specific insurance companies. They don’t want to upset these relationships. One hand washes the other so to speak – these relationships work for brokers.
Some brokers do receive additional remuneration from particular insurers and they may lose out on that if you were to choose Tandem Equity.
Each year Tandem Equity awards share options to you when you contribute to the profitability of the company. The more profit you make the more share options you will receive.
If they don’t, as shareholder, you have immediate access to the board and to the chairman of Tandem Equity. You can also raise any grievance at an AGM. Imagine all of your clients in one room listening to a complaint about you. That would be really bad for business. We have structured things in a way that every year all Trucksurance clients get together in one room – as you would anticipate Trucksurance only want the comments made about them in that room to be positive.
Also, if Trucksurance did not act fairly they risk having their mandate cancelled by Tandem Equity & Guardrisk and as Tandem Equity is their biggest client we doubt that they would risk treating any member unfairly.
It is also important to note that most brokers prefer to work with one or two particular insurers. Your current broker probably works this way. Trucksurance is no different – they have forged a strong relationship with Guardrisk.
Right now your insurance premium is an expense to you every month – if you don’t claim you never see that money ever again.
With Tandem Equity when you don’t claim or don’t claim much you will make a profit for the cell. You will then be credited with shares in Tandem Equity – the owner of the cell. This will entitle you not only to a stake in the current year’s profits but also in future year’s profits. Each year that you do well for the company you get more shares and thus your expense becomes an investment.

Collective Buying

magine being able to buy your supplies as if you owned 500 trucks? You will be able to buy cheaper and better and command better service and attention from suppliers.
Initially, fuel, tyres, trucks and trailers will be focused on.

The Board

Any shareholder can be voted onto the board. A shareholder who acquires more than 10% of the shares automatically qualifies to nominate a board member and any group of shareholders who together own more than 10% of the shares may get together to nominate a board member.
You will be a co-owner of the assets of the company. You will earn dividend every year. You will qualify to swap shares for cash every year. Every member is invited to the AGM of the company – this is a formal platform for you to have your say. You will benefit from the collective buying power of all members yet you will retain your independence to run your business as you please.
It is very different. You are a client of your broker and of your insurer. Your broker provides a service & your insurer provides a product to you. For both of these you pay a pay a premium, a commission and/or a fee.
Tandem Equity owns an insurance business. Each year when you make money for the insurance business Tandem Equity issues you with new shares. The more profit the more shares. Each year you gain a bigger and bigger stake in your insurance company. Tandem Equity chooses to partner with responsible Truck owners who take care when operating their business.
Henk Duys is the chairman. He is elected by the Truck Owner shareholders.

Joining

Have you made money for your current insurer over the past 3 years? If you have you will be most of the way towards qualifying.
No. We will match your current policy precisely – i.e. in every respect. You will pay the same premium for exactly the same cover but you will enjoy all the benefits already described.

Still have questions?
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