The arrival of COVID-19 has resulted in a change in the nature of business risk as businesses adapt to new ways of working.
Businesses therefore need tailored cover and solutions to help them navigate these challenging times and improve business sustainability. That is why we have enhanced our product offering to give you solutions that are specifically designed for the COVID-19 period, so that you can have peace of mind that your business remains adequately protected during this time.
Get dedicated IT services at no additional cost
To enable you to adapt to new ways of working, we give you access to a dedicated IT support desk managed by AVeS Cyber Security, at no additional cost. This provides you with the necessary expertise to help you resolve IT issues quickly to minimise interruptions to your business. This value added service is essential for businesses of all sizes, especially SMEs, who may not always have access to these services at an affordable rate.
You get access to IT services such as assistance with:
- Resolving connectivity issues
- Installing applications
- Server access
- PC performance issues
- VPN configuration
The IT support desk is available on Mondays to Fridays from 9am to 5pm and you can access it using any one of the following channels:
- By calling AVeS Cyber Security on 010 020 8711
- By sending an email to discovery@aves.co.za
- Through the AVeS Cyber Security website.
The dedicated IT support desk is available to all Discovery Business Insurance clients from 1 July to 31 December 2020 at no additional cost.
Get access to capital through our partnership with Merchant Capital
Since the start of the COVID-19 lockdown levels, many businesses have seen a reduction in sales especially small- and medium-sized enterprises (SMEs). This often results in loss of revenue and constraints on cash flow. To help you manage your business during these trying times and avoid business failure, we give you access to capital. We also offer you unique rewards for meeting your repayments.
Access to capital
You can get a cash advance of up to 80% of your monthly turnover generated from debit or credit card sales, if you meet the qualifying criteria. This will depend on your profile and how your turnover has been affected by COVID-19.
To qualify for the cash advance, you must:
- Have at least twelve month’s trading history
- Accept debit and credit card payments
- Have minimum card turnover of R30 000 per month
- Have at least one South African citizen as a business owner
You can get up to 50% of your premiums back for meeting your repayments
You can also get up to 50% of your business insurance premiums back (limited to R5 000 monthly premium) if you are in good standing with your cash advance repayments. Merchant Capital will determine whether you are in good standing with your repayments or not.
To qualify for the cash back, you must:
- Be in good standing with Merchant Capital on repayments, as determined by Merchant Capital.
- Have an active Discovery Business Insurance plan.
- Be up to date with their premium payments and have not missed more than two premium payments in the past 12 months.
You can qualify for a premium cash back of 15% to 50% depending on the amount of your cash advance and your monthly premium. To qualify for the cash back, you must have a minimum cash advance of R50 000, as detailed in the table below:
Amount of cash advance |
Discovery Business Insurance monthly premium |
|||||
R0 - R999 |
R1000 - R1999 |
R2000 - R2999 |
R3000 - R3 999 |
R4000 or higher |
||
R50 000 - R99 999 |
30% |
25% |
20% |
15% |
15% |
|
R100 000 - R299 999 |
30% |
30% |
25% |
20% |
15% |
|
R300 000 - R499 999 |
50% |
30% |
30% |
25% |
20% |
|
R500 000 - R999 999 |
50% |
50% |
30% |
30% |
25% |
|
R1 000 000 - R10 000 000 |
50% |
50% |
50% |
30% |
30% |
The cash back is calculated as:
cash back = cash back percentage x monthly premium x 12 (where monthly premium is limited to R5 000).
The cash back is available on a single loan facility for cash advances taken out between 1 July and 31 December 2020.
Apply or find out more about this offering from Merchant CapitalFor more detailed information, read our Discovery one pager