At OUTsurance we view our responsibility to pay claims promptly and fairly as the most important thing we do. The Ombudsman for Short-Term Insurance (“OSTI”) is an independent body where clients can complain if they believe they have been unfairly treated by a short-term insurer. During May 2013, the OSTI has for the first time publically published complaints figures pertaining to individual companies. The figures published include, amongst others, the number of complaints per 1,000 claims handled by an insurer, as well the OSTI overturn rate. The overturn rate is the percentage of complaints where the OSTI finalised the complaint with some benefit to the complainant.
OUTsurance is extremely proud to have performed significantly better than the industry average in both measures. The graphs below compare the OUTsurance results to that of the rest of the industry:
The full details of the OSTI results can be found on pages 15 and 16 of the 2012 OSTI Annual Report, and can be downloaded at http://osti.co.za/annual-reports.html As at the end of December 2012 the OUTsurance Group provided cover to 2 million policyholders with total assets exceeding R7 billion. During 2012 OUTsurance paid more than R4 billion in claims and since inception distributed more than R1.5 billion in OUTbonuses. Through a combination of high-quality products, excellent claims service and financial strength, OUTsurance provides excellent value for money directly to clients. Call us on 08 600 60 000 or go to www.outsurance.co.za to obtain a quote on car, home, life or business insurance.