We're thrilled to announce our 2023 Naked Difference payment of R650 000, set to benefit twelve incredible causes, chosen by our customers. These organisations are pillars of strength in their respective communities, and we're excited to see how they'll use the funds to do even more good.
The Naked Difference is all about changing insurance to break the cycle of distrust between insurers and their clients and making an impact across SA. Right now, we're linked with 12 different causes, all doing amazing stuff to make South Africa better. We're talking about everything from getting vital cancer treatment for kids who wouldn't otherwise be able to afford it, to helping homeless folks find steady jobs, rehoming pups, and also establishing play-based education groups within informal settlements.
We're really proud of the positive impact the Naked Difference has, and we're super excited about the 2023 payment. These charities are at the heart of our business model, and it's awesome to be able to help them do their thing.
As we look forward to seeing how this year's funds will be put to use, let's take a moment to look back at how some of our previous Naked Difference payments have fostered change:
Door of Hope – The special people at Door of Hope used their 2022 Naked Difference payment to take care of babies with special needs with a new baby home while they wait for their house in Berea to be built.
Christel House SA – Christel House took their 2022 Naked Difference payment and used it to support their top matric students while at university this year. It's been a game-changer, helping these students cover their university costs.
Kolisi Foundation: Nikita Lewis library – Their 2022 Difference payment helped establish a library to offer serene spaces for women and children affected by gender-based violence, and contribute to their healing process.
Oscars Arc – The 2022 Difference payment was used to buy dog beds, bringing comfort to our furry friends during the colder winter season.
How the Naked Difference makes sure that your insurance contributes to shared value
Our annual Naked Difference payment is a cornerstone of Naked’s shared-value insurance model. This is not your traditional insurance business model. At Naked, we take a fixed fee from premiums to cover our expenses and profit, with the remaining money going into a communal pot for claims. If there's money left at the end of the year, it goes back into our community, supporting charities chosen by you, instead of being taken as profit.
The Naked Difference aligns our interests with those of our customers.
The way the traditional business model works is that if less money is paid out in claims, it means more profit for the insurer – so you and your insurer are constantly fighting over the same money.
The Naked Difference payment isn't a fixed amount—it fluctuates based on the number of claims we process every year. Our top priority is always to put you back into the position you were in before you experienced a loss. So that means if claims are higher, such as during a year with more natural disasters, the amount leftover for the Naked Difference decreases.
While 2023’s payment might be less than last year's payment, it's important to remember that the principle of shared value remains steadfast. Every rand makes a difference, and the impact of these funds goes beyond monetary value—it's about enabling positive change and nurturing the resilience of our community. We're looking forward to another year of making a difference in insurance and communities, one payment at a time.
Join our mission to redefine insurance and foster shared value:
- Get an insurance quote on the Naked web or app in 90 seconds.
- If you like what you see, add your card details, and buy your comprehensive car or home cover.
- Pick your preferred Naked Difference cause on the app – it won’t cost you a thing.
Let's embrace a new era of insurance—one that serves us all. Together, we can make 2023 a year of shared triumphs, growing stronger as a community. Join us today!