What Car Insurance companies in SA get the Most complaints?
November 13, 2018
The Ombudsman for Short Term Insurance (OSTI) 2014 report revealed the best short-term through to the worst. Find out what car Insurance companies in South Africa get the most complaints.
This independent body receives complaints from clients who believe insurers have dealt with them unfairly.
What car Insurance companies Are reliable?
The OSTI compiled statistics based on received complaints per thousand claims and also published the Ombudsman’s “overturn” rate.
The “overturn” rate shows the number of claim decisions made by an insurer and overturned by the OSTI, however, consider the rate with strong caution. “A high ‘overturn’ rate means OSTI received considerable cooperation from insurers.”
“The cooperation led to resolution of the complaint and leading to customer satisfaction”, said the Ombudsman. The overturn rate stood at 31%, as an industry average.
Complaints on the Increase in 2014
Overall complaints received by the Ombudsman in 2014 were 10,253, a 9.5% increase on 2013’s numbers 9.368, however, the percentage was up from five years ago, which were 9,144.
The complaints, when valued in Rands, resolved in the insured’s favour. The amount went down to R116 million from a 2014 amount of R119 million. And a 2009 amount of R136 million.
Motor Insurance presented the highest number of criticisms (4,807) or 46.9%. Complaints from homeowners’ insurance, seconded at 2,148 (20.9%) and miscellaneous grievances logged 17.4%.
So what car Insurance companies are Tops?
Leading the top insurance providers per one thousand complaints are NMS Insurance. Receiving no complaints out of a total of 74,021 total claims.
Rounding off the top three was Renasa Insurance and Vodacom. Forty-nine complaints from a total of 65,073 claims for Renasa and fifty-three complaints out of 41,656 for Vodacom.
When looking at the top insurance providers by their overturn rates, Outsurance scored the least rate of 13.8% and had 493 complaints logged by the Ombudsman out of 290,010 total claims.
Second was MiWay Insurance, with an overturn rate of 22.6% from a total of 84,186 total claims and 569 received complaints.
Third place was occupied by Discovery Insure, with 53,015 total claims, 170 complaints acknowledged by the ombudsman, for an overturn rate of 22.8%.
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All info was correct at time of publishing