BRIDGING THE GAP
MyWater covers the consumer for unexpected water loss, while simultaneously ensuring the council receives payment for the water it has delivered
Photo by: Bloomberg
Since unexpected water loss has a negative impact on the consumer and the council that supplies it, engineering, information technology and communication company MyWater launched an insurance solution to bridge the gap between councils and consumers regarding water loss and water bills.
“An unknown leak in a pipe could easily see a consumer receiving a massive bill at the end of the month, one which will probably be disputed. This could mean that the council is unlikely to receive payment for this water anytime soon, and therefore both parties end up losing out,” notes MyWater CEO Larry Symington.
Therefore, the MyWater Insured solution, powered by global business process services and software provider Innovation Group, is a form of insurance that covers the consumer for unexpected water loss, while simultaneously ensuring the council receives payment for the water it has delivered, Symington explains.
Through the insurance, consumers can now obtain cover of up to R3 000 for water loss. Symington further explains that water loss insurance is not without precedent, pointing to a scheme in eThekwini, KwaZulu-Natal, where some 260 000 residents subscribe to such a solution.
“MyWater has also teamed up with niche financial services provider LSG Insurance to build on this idea, offering not only the MyWater Insured product but also MyWater Legal Assist. This provides customers with the security of knowing that they will be able to obtain legal advice in the event of municipal billing misunderstandings,” he says.
Symington says consumers can obtain these products, starting at R96/y and can be free of surprise accounts, provided they make use of the latest new-generation water meter. When buying these products, MyWater will assist consumers to obtain such a meter upgrade from the municipality, where the upgrade will be at no extra cost to consumers on proof of policy.
Symington posits that the new meter offers twofold benefits. “It provides memory, as well as a viewing window for consumers to self- manage their actual usage . . . during the current month,” he says.
These meters also benefit the municipality, as consumers are expected to SMS the previous month’s closing balance to a number provided by the company, Symington says.
These readings are then forwarded on to the municipality, also free, reducing the need to rely solely on meter readers, thereby assisting in eliminating the potential for human error. Symington avers that consumers are able to detect leaks early, while acknowledging their debt to municipalities.
“MyWater is a leading technology developer that considers that part of its responsibility is to share knowledge and experience with municipal officials. Subsequently, we are embarking on a nationwide roadshow campaign,” says Symington, stressing the company’s understanding of the importance of driving towards true “smart cities”.
“Moreover, the products are 100% locally developed and produced by people who truly understand South Africa’s diverse economy,” he adds.
Symington further highlights that President Jacob Zuma recently announced a government ‘war on leaks’ programme, explaining that water leaks account for nearly 40% of the nation’s water loss and cost the country some R7-billion a year.
“With this in mind, the country, the municipalities and the consumers need all the tools to help overcome this challenge,” he says, noting that new meter technology, cellphone technology, coupled with consumers’ early participation and insurance as a backup for the unforeseen can play a major role.
“ . . . [O]ur goal is to bridge the divide between the consumer and the municipality, while laying the foundation for a smart city. It is our contention that people make for smart cities and not technology in isolation. “Every South African should know the value of water – everyone should make a contribution to water savings.
“Further, the transparent communication platform can feed information to the credit providers for those consumers who regularly pay their water accounts – helping citizens to improve their credit ratings, thereby turning water, a basic right, and water management, a basic responsibility, into a genuine wealth creator,” he concludes.