OUTsurance this week reached a record total of R1 billion in cash OUTbonus payouts to almost 300 000 clients.
OUTsurance introduced the concept of paying a cash OUTbonus to clients if they remained claim free for three years. The idea was borne out of a need to bring innovation to the insurance market, and counter the notion that paying for insurance was only really of benefit to those who claimed. The OUTbonus concept also had the effect of attracting the right type of clients – ones who managed their risks well and liked the incentive of remaining loyal to one company. The OUTbonus concept also tied in perfectly to the company’s proposition of “you always get something OUT.”
Ernst Gouws, Chief Executive of OUTsurance comments that “we all are extremely proud of achieving this landmark. When OUTsurance first introduced the OUTbonus, there were many sceptics. Now, thirteen years later, with the R1 billion mark under our belts, we realise that this was without a doubt one of the company’s best decisions.
“In an industry where insurance is seen as a ‘grudge purchase’, it was the idea of ‘getting something back’ that truly appealed to the South African consumer. In reality, the OUTbonus proved to be a great incentive to our clients who understood the importance of having short-term insurance but who fancied themselves as being low-risk clients and therefore more unlikely to have to claim.”
Ultimately, it was Mr Parry from Retreat in the Western Cape whose OUTbonus of R2, 800 contributed the final amount needed to push OUTsurance’s cumulative OUTbonus total over the R1 billion mark. Interestingly enough, this was the fifth consecutive OUTbonus paid to Mr Parry. OUTsurance is celebrating this milestone by showcasing some of the magical moments these payouts have made possible. OUTsurance clients can upload their OUTbonus footage until 15 February 2011 on OUTsurance’s Facebook page (www.facebook.com/outsurance). The most magical OUTbonus moments will be showcased on television as part of the company’s next marketing campaign. All Facebook users are also invited to visit the OUTsurance page to vote for their favourite videos and photos.