OUTsurance today announced the extension of its insurance product offerings with the addition of a fully underwritten and comprehensive life insurance product.
Ernst Gouws, Chief Executive of OUTsurance said “the expansion of our product offering into the life insurance market, has been on the horizon for some time.”
“OUTsurance is well known for offering value-for-money car, home and business insurance directly to our clients, and this will be no different for life insurance. We are now left with a huge challenge in that clients will also expect the same level of service excellence from our life insurance division that they’ve come to know and associate with OUTsurance. We certainly are excited about meeting these expectations!”
OUTsurance has taken what sets them apart from their short-term insurance competitors and applied the same approach to their life insurance product.
In addition to this, life insurance clients can also look forward to receiving a cash OUTbonus – i.e. 10% of their premiums back in cash, every five years – if they don’t submit any claims during this period. OUTsurance introduced the cash OUTbonus reward to the South African short-term insurance market more than 12 years ago. The popularity and success of this reward system is evident if you take into account that OUTsurance has already paid out more than R800 million in OUTbonuses, with the R1 billion milestone fast approaching.
In closing, Gouws commented “initially the life insurance product will be introduced to the public through online channels with a full-blown advertising campaign flighting on television and radio later this year”.
18 February 2010
OUTsurance was awarded the Short Term Insurance Ombudsman's esteemed Isabel Jones Ukusizana Award.