OUTsurance continues to lead with outstanding Ombudsman results
OUTsurance has, for the 11th consecutive year, consistently beaten the average of the 12 largest comparable insurers by receiving the least number of complaints out of every 1 000 claims referred to the Ombudsman for Short-Term Insurance (OSTI).
OSTI is an independent body that clients can contact if they feel, amongst others, that their claim was not treated fairly. The 2023 Ombudsman report presents data on the proportion of claims submitted to a specific insurer and details the number of complaints lodged with OSTI for every thousand claims made to that insurer, known as the referral rate.
The data indicates that OUTsurance has maintained its industry-leading record, with only 1.075 complaints referred to OSTI out of every 1 000 claims. This figure stands in stark contrast to the average referral rate of 2.274, as observed among the 12 largest comparable short-term insurers by claims volumes.
Danie Matthee, Chief Executive Officer at OUTsurance is very pleased with the result, ‘To lead the industry in the Ombudsman’s results consistently for over a decade is an honour that speaks volumes about the dedication of our team to treating customers fairly. It’s this commitment to paying out claims fairly and delivering exceptional customer service that is at the core of how we create value, and which sets us apart in the insurance industry.
‘Our innovative and easy-to-understand products, an unwavering commitment to awesome customer service and swift claims process have been designed with our clients’ best interests at heart, ensuring a seamless insurance experience.
‘As we celebrate this milestone, we reaffirm our promise to our customers: to make sure that they “always get something OUT”, whether they claim or not. To this end, we will continue to innovate, improve, and lead with the same passion that has brought us here today.’
OLTI and OSTI have released their final collaborative annual report for 2023. This marks a significant transition as they have merged into the National Financial Ombud Scheme of South Africa. The integration aims to streamline the process and enhance the efficiency of addressing financial service complaints.
Edite Teixeira-Mckinon, Chief Executive Offer at OSTI, said that ‘a strong foundation has been set by the legacy ombud schemes upon which we will build a new consolidated financial ombud scheme that will continue to play its part in enhancing customer confidence in the financial sector.’
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OUTsurance is a licensed insurer and FSP. Ombudsman for Short Term Insurance Annual Reports (2013 – 2023). OUTsurance: 1.075 complaints per 1000 claims (2023). Average of 12 largest comparable insurers by claims volume: 2.274 complaints per 1000 claims (2023).
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