Insurance with me. OUTsurance

[StangV2_0]

Good day Members,

As some of you may know I recently joined OUTsurance. And I am thoroughly enjoying it. I would like the members of Carb to be fully aware of this and please consider me for your insurance needs. OUTsurance employees go through a thorough vetting process. And excluding this, I believe my iTrader and record on Carb shows that I am a person of integrity.

OUTsurance have a nice commission structure and earnings are also based on performance over three month period. So the better you do right from the start the greater your earning. And I need a good start!

So what can I offer?

Any short term insurance. I am employed as a commercial broker and my focus is on Business Insurance. So Building, content, stock, theft, Business Interruption, Etc etc. Even Money, Fidelity, Fleet Vehicles, Goods In Transit, Product Liability (like a take away shop) and defective workmanship.
I can also do personal insurance for your home, content, theft and of course vehicle. Basically any insurance excluding long term or life insurance.

Some FAQ I have come across so far.

Who do you represent? OUTsurance.

I thought OUTsurance don't have brokers? Well, they didn't. However, OUTsurance are wishing to gain more market share in the commercial market and in order to do this they need brokers. The client will then deal with the broker directly and not with the call center.

I have a broker and I am happy with them. Why should I consider a move? OUTsurance operate independently and your broker would not have been able to get a quote from OUTsurance.

Will you beat my current premium? I can try, but lets say no. You don't join OUTsurance to get the best offer. You join OUTsurance for the service and other benefits. With that said I will apply the best offer I can to any carbonite member. You have my word on this.

What service benefit does OUTsurance have? Explain please? Well, OUTsurance are highly rated for having the fastest turn around time in claims and they also have the least number of referrals to the Ombudsman when compared to major insurance companies in South Africa. In short, OUTsurance receive the least number of complaints from their clients when compared to other major insurance companies.

Ombudsman for Short-Term Insurance

We OUTperformed the 12 largest comparable insurers. This is less than the average referral rate for the 12 largest comparable insurers (by claims volumes), which sits at 2.374 complaints per 1 000 claims.

www.outsurance.co.za

Ok so service is the offer then. But I can't overlook what I pay a month just for service? Good point. However good service is always better than a slightly lower premium. OUTsurance also work on a flat excess and not percentage based. Why would you want to save a few rands a month just to be charged a 10% excess on a vehicle that is written off? Regarding your monthly premiums, this is where the OUTbonus comes in. The OUTbonus is a cash back to you after 3 years as a thank you for your business. You can get back 10% of your premium. After 2 years you can get another 10% back. And thereafter you can get up to 10% every year. With that said,

Do you mean 10% of all premiums paid or just 10% of a year? 10% of all premiums paid.

What is the catch? No catch, but terms and conditions do apply. Claims will affect your OUTbonus.

If I claim, will I still get an OUTbonus? Yes, provided your claims ratio is less than 30%. For example: You pay R10 000 a month on Insurance. Over 3 years you have paid R 360,000.00. You are now eligible for a R36,000 cash back. However you had a claim of R 30,000 last year. Your claims ratio is then 8% and well below the 30%. You will still get around 8% cash back.

Ok this sounds fair. Anything else?

Yes, and this one is important. I represent a financial services provider offering financial advice. In order for me to assist you with a quotation you will need sign a letter of authority which gives me permission to assist you with a quote. This is in order for us to be compliant with the laws regarding POPI act etc and also that you give OUTsurance permission to access your credit profile. This is not a hard enquiry on your credit profile and is more a check for any record of fraud than anything else This is no different to any other insurance company. We are just very upfront about it. You will also be giving me access to your personal information such as address, home, content, etc. Once again, this is no different to any other insurance company you may have already done this with or when talking to a stranger at a call center. At least this time round you know it's me and who I am.

Ok. Fair enough. What would you need to do a quote? A signed Letter Of Authority (LOA) and a copy of your policy schedule. I can quote without the schedule however this will become a longer process. Seeing your current pricing gives me no benefit in any way since I cannot change what OUTsurance charge for the different risks. The only control I have over the pricing is a discount than can be applied to the entire policy, but this is limited. Send me a private message with your email address, name, surname, and cell number. I will then send you the LOA needing your signature.

Ok so you do a quote and I decide to accept the quote. What happens then? You then sign a Record Of advice with OUTsurance. We capture your bank details and debit order date. You will then be covered with OUTsurance as soon as your debit order goes off.

How much notice do I need to give my current Insurer? You can cancel your insurance with your current insurer immediately. No notice needs to be given. Your current insurer/broker may tell you that this cannot be done but you are welcome and within your right to tell them to go fly a kite. Just like our clients are allowed to do to us.
Most clients prefer to let their cover with OUTsurance start and beginning of a new month and then let their current insurer cover them until the end of the current month. But this is entirely up to you.

Why should I deal with you? Because I am 100% honest and sometimes too honest. I have frequently clashed heads with management in the past where I have fought for my clients. Many of them never even knew about it, but every client who dealt with me in the past has always wanted to deal with me again. I put the client first. Always. You will then have me on call anytime for any assistance you ever need.

I am already with OUTsurance and I joined by calling the call center. Are you able to take over my policy and I deal with you as my broker? Yes, this can be done. I will request a migration of your policy to me. You will recieve a call from OUTsurance to confirm this. Once confirmed you will then sign a new ROA with me and I will then be your broker. I will then be your contact person and not the call center.

Anything else? Yeah, have a good day!

Feel free to post any questions below.

 

[NemoXX7]

That's awesome man. Best advice I can offer having many family members in insurance, for people looking to get/ switch insurance, get yourself a broker like this. Do not go the direct route, the call centres will make any insurance company seem like a headless chicken.

 

[Dom]

Good day Members,

As some of you may know I recently joined OUTsurance. And I am thoroughly enjoying it. I would like the members of Carb to be fully aware of this and please consider me with your insurance needs. OUTsurance employees go though a thorough vetting process. And excluding this, I believe my iTrader and record on Carb shows that I am a person of integrity.

OUTsurance have a nice commission structure and earnings are also based on performance over three month period. So the better you do right from the start the greater your earning. And I need a good start!

So what can I offer?

Any short term insurance. I am employed as a commercial broker and my focus is on Business Insurance. So Building, content, stock, theft, Business Interruption, Etc etc. Even Money, Fidelity, Fleet Vehicles, Goods In Transit, Product Liability (like a take away shop) and defective workmanship.
I can also do personal insurance for your home, content, theft and of course vehicle. Basically any insurance excluding long term or life insurance.

Some FAQ I have come across so far.

Who do you represent? OUTsurance.

I have a broker and I am happy with them. Why should I consider a move? OUTsurance operate independently and your broker would not have been able to get a quote from OUTsurance.

Will you beat my current premium? I can try, but lets say no. You don't join OUTsurance to get the best offer. You join OUTsurance for the service and other benefits. With that said I will apply the best offer I can to any carbonite member. You have my word on this.

What service benefit does OUTsurance have? Explain please? Well, OUTsurance is highly rated for having the fastest turn around time in claims and they also have the least amount of referrals to the Ombudsman. In short, OUTsurance receive the least amount of complaints from their clients.

Ok so service is the offer then. But I cant overlook what I pay a month just for service? Good point. And this is where the OUTbonus comes in. The OUTbonus is a cash back to you after 3 years as a thank you for your business. You can get back 10% of your premium. After 2 years you can get another 10% back. And thereafter you can get up to 10% every year.

Do you mean 10% of all premiums paid or just 10% of a year? 10% of all premiums paid.

What is the catch? No catch, but terms and conditions do apply. Claims will affect your OUTbonus.

If I claim, will I still get an OUTbonus? Yes, provided your claims ratio is less than 30%. For example: You pay R10 000 a month on Insurance. over 3 years you have paid R 360,000.00. You are now eligible for a R36,000 cash back. However you have had a claim of R 30,000 last year. Your claims ration is then 8% and well below thew 30%. You will still get around 8% cash back.

Ok this sounds fair. Anything else?

Yes, and this one is important. I represent a financial services provider offering financial advice. In order for me to assist you with a quotation you will need sign a letter of authority which gives me permission to assist you with a quote. This is in order for us to be compliant with the laws regarding POPI act etc and also that you give OUTsurance permission to access your credit profile. This is no different to any other insurance company. We are just very upfront about it. You will also be giving me access to your personal information such as address, home, content, etc. Once again, this is no different to any other insurance company and you may have already done this with or when talking to a stranger at a call center. At least this time round you know its me and who I am.

Ok. Fair enough. What would you need to do a quote? A signed Letter Of Authority (LOA) and a copy of your policy schedule. I can quote without the schedule however this will become a longer process. Seeing your current pricing gives me no benefit in any way since I cannot change what OUTsurance charge for the different risks. The onlycontrol I have over the pricing is a discount thancanbeapplied to the entire policy but this is limited.

Ok so you do a quote and I decide to accept the quote. What happens then? You then sign a Record Of advice with OUTsurance. We capture your bank details and debit order date. You will then be covered with OUTsurance as soon as your debit order goes off.

How much notice Do I need to give my current Insurer? You can cancel your insurance with your current insurer immediately. No notice needs to be given. Most client prefer to let their cover with OUTsurance start and beginning of new month and then let their current insurer cover them till end of current month. But this is entirely up to you.

Why should I deal with you? Because I am 100% honest and sometimes too honest. I have frequently clashed head with management in the past where I have fought for my clients. Many of them they never even knew about it, but every client who dealt with me in the past has always wanted to deal with me again. I put the client first. Always. You will then have me on call anytime for any assistance you ever need.

Anything else? Yeah, have a good day!

Feel free to post any questions below.

May chat to you in a few months (current claim dependant)

 

[brakpanpolisie]

Schweet, where can we get the LOA form?
I'd like to get a comparative quote to my current situation if you don't mind

 

[Areola Grande]

To be clear, would you then be operating as a broker? i.e., can I contact you directly for any claim assistance, queries etc. or am I calling the Outsurance hotline and holding for 78 hours?

 

[Qui_Illustrati]

That's awesome man. Best advice I can offer having many family members in insurance, for people looking to get/ switch insurance, get yourself a broker like this. Do not go the direct route, the call centres will make any insurance company seem like a headless chicken.

But he wouldn't be a broker, is that correct @StangV2_0 ?

Claims would still need to go through a call center so to speak right?

 

[StangV2_0]

To be clear, would you then be operating as a broker? i.e., can I contact you directly for any claim assistance, queries etc. or am I calling the Outsurance hotline and holding for 78 hours?

I am a broker yes. You will call me.

 

[NemoXX7]

But he wouldn't be a broker, is that correct @StangV2_0 ?

Claims would still need to go through a call center so to speak right?

Not necessarily, if you are set up with a broker you can do all your insurance transactions through them. My broker will literally come over to my house after hours to sit and explain policy wording to me.

 

[StangV2_0]

But he wouldn't be a broker, is that correct @StangV2_0 ?

Claims would still need to go through a call center so to speak right?

Claims will still be handled by the claims department. Assessor may still be appointed by the claims department. But a client will call me and not a call center. I can then also escalate where necessary if a client is not getting the service they should be.

 

[Dom]

I am a broker yes. You will call me.

Name of the brokerage?

 

[StangV2_0]

Name of the brokerage?

OUTsurance. So this part is a bit confusing at times.

OUTsurance never operated with Brokers. It was their slogan "Cut out the middleman"

But they decided they wanted to get more market share in the commercial market, and they realized that they actually need brokers for this.

I am a commercial broker employed by OUTsurance.

 

[StangV2_0]

Schweet, where can we get the LOA form?
I'd like to get a comparative quote to my current situation if you don't mind

Post updated. Send me a private message with your details (Name, Surname, Phone number, email address) and I will then email you an LOA to sign.

 

[Dom]

OUTsurance. So this part is a bit confusing at times.

OUTsurance never operated with Brokers. It was their slogan "Cut out the middleman"

But they decided they wanted to get more market share in the commercial market, and they realized that they actually need brokers for this.

I am a commercial broker employed by OUTsurance.

I can get that - as long as the FSPs are separate & you actually have Broker powers.

 

[StangV2_0]

I can get that - as long as the FSPs are separate & you actually have Broker powers.

Remember OUTsurance does not underwrite to anyone else. With your current broker your policy Schedule may say "Piets Brokers" and insured by "Santam" etc. Or something like that.

With us there is no broker then dealing with a different insurance company. We are one and all. I am your broker, employed by OUTsurance, and your cover is with OUTsurance. You will call me and I will then assist within the company. I dont have to deal with another insurance company. If there is anything I am not happy with I walk across the floor to my manager, and we shake the tree. Perhaps this is why OUTsurance has the least amount of referrals to the OMbudsman?

 

[Areola Grande]

My one hesitation is that right now, if i have an issue, I call my broker and he handles everything. I do not talk to anyone else, I do not email anyone else, just him and he handles alles. Having to call a call center is an immediate no from me.

 

[StangV2_0]

May chat to you in a few months (current claim dependant)

Whenver you ready!

But he wouldn't be a broker, is that correct @StangV2_0 ?

Claims would still need to go through a call center so to speak right?

Claims still handled by claims dept. But I am your go to man and can assist within the company where needed.

if you are set up with a broker you can do all your insurance transactions through them. My broker will literally come over to my house after hours to sit and explain policy wording to me.

This is true. All queries, adjustments, questions, can come to me. And yes, face to face dealing is always preferred. Naturally we may not always be able to do that with me being in PE but you will be able to contact me at any time you need assistance. And if I am ever in the area, I will come say.

 

[StangV2_0]

My one hesitation is that right now, if i have an issue, I call my broker and he handles everything. I do not talk to anyone else, I do not email anyone else, just him and he handles alles. Having to call a call center is an immediate no from me.

Well that's what I am. A broker. You wont have to call the call centre. I will tell them to call you instead. You call me and I then log it with the claims department, and they will then contact you. I will then assist wherever needed should you not get the service you should get. However, our claims dept is sharp and we hardly ever step in. Hence the Obudsman ratings.

This is no different to any other broker. The only difference is that our claims department is the same company as me. Imagine for a second your broker is "Piets Brokers" insured by Santam. You log your claim with Piet. he then contacts Santam. Santam is still going to call you to confirm and assist with the claim. No difference.

No broker is ever responsible for the claim, or the decision made to pay or not. If they were then every claim would be paid out every single time in order for the broker to keep the business. Insurance companies would all go bankrupt.

 

[Areola Grande]

Well that's what I am. A broker. You wont have to call the call centre. I will tell them to call you instead. You call me and I then log it with the claims department, and they will then contact you. I will then assist wherever needed should you not get the service you should get. However, our claims dept is sharp and we hardly ever step in. Hence the Obudsman ratings.

This is no different to any other broker. The only difference is that our claims department is the same company as me. Imagine for a second your broker is "Piets Brokers" insured by Santam. You log your claim with Piet. he then contacts Santam. Santam is still going to call you to confirm and assist with the claim. No difference.

No broker is ever responsible for the claim, or the decision made to pay or not. If they were then every claim would be paid out every single time in order for the broker to keep the business. Insurance companies would all go bankrupt.

But customers wouldn't hate insurance.

Call me when you get a gap, let's chat.

​

 

[StangV2_0]

Original post updated with regards to clients who are already with OUTsurance but interested to deal with me and not the call center. This is a pretty simple process. I request your policy to be migrated to myself. You will receive a phone call from call center to confirm this. Once confirmed you will sign a new Record of Advice with me as your broker. This does not affect your OUTbonus in any way.

 

[Nirv]

As an Outsurance customer already, so far my interactions have been good with policy changes and so on. Using their app to quickly get your docs or request them to call you is pretty convenient.

I just wish I could do some things over email because chatting on the phone about insurance matters during the workday is not ideal.

 

[StangV2_0]

As an Outsurance customer already, so far my interactions have been good with policy changes and so on. Using their app to quickly get your docs or request them to call you is pretty convenient.

I just wish I could do some things over email because chatting on the phone about insurance matters during the workday is not ideal.

If you deal with their Call Center and not a broker, you can migrate your policy to me and I will then be your broker.

 

[JayDoubleYou]

If you can't beat my current premium, do I get R500 cash?

 

[FeelsBranMan]

I don't require your services,, but it's really great to see your transparency on your role and services. It's tough work, and that industry is flooded with people who just push for sales without regards to ethics or client needs (as with most commission-based jobs).

I wish you much success @StangV2_0 !

 

[StangV2_0]

If you can't beat my current premium, do I get R500 cash?

As far as I know this offer is only on insurance for motor vehicles. I think it is still active, first time I been asked this to be honest. Will update soonest if not still valid.

I don't require your services,, but it's really great to see your transparency on your role and services. It's tough work, and that industry is flooded with people who just push for sales without regards to ethics or client needs (as with most commission-based jobs).

I wish you much success @StangV2_0 !

I think transparency is the key in all business and every agreement. Sure, there are certain things clients dont need to know like margins, suppliers, etc. But when it comes to offereing services you cannot be too transparent. This ensures that the clients expectations have always been managed and there are no surprises down the line. You may not always like what you hear up front from me, but in the long run very little will come as a surprise because I will always that you have had it all explained to you. Both good and bad.

 

[NemoXX7]

But customers wouldn't hate insurance.

Call me when you get a gap, let's chat.

​

Don't worry, you don't have to sit in the car with Katlego Maboe and answer questions about your premiums for the camera

 

[Areola Grande]

Don't worry, you don't have to sit in the car with Katlego Maboe and answer questions about your premiums for the camera

Well then I'm not joining

 

[Trompie67]

What service benefit does OUTsurance have? Explain please? Well, OUTsurance is highly rated for having the fastest turn around time in claims and they also have the least amount of referrals to the Ombudsman. In short, OUTsurance receive the least amount of complaints from their clients.

Ombudsman for Short-Term Insurance

We OUTperformed the 12 largest comparable insurers. This is less than the average referral rate for the 12 largest comparable insurers (by claims volumes), which sits at 2.374 complaints per 1 000 claims.

www.outsurance.co.za

I'm curious as to how this statement is justified. Please can you enlighten us as to how that statement is proven?

If I look at the OSTI 2022 report I see that outsurance has 7,16% of claims referred to OSTI. That is certainly not the least amount of referrals.

Digging a little deeper show that out of the 51 insurers listed, 47 of them had a lower percentage claims referral rate to OSTI, and only 3 had a higher percentage claims referral rate to OSTI. By my rudimentary math skills that makes outsurance the 4th WORST insurer for claims referred to the ombud.

 

[StangV2_0]

I'm curious as to how this statement is justified. Please can you enlighten us as to how that statement is proven?

If I look at the OSTI 2022 report I see that outsurance has 7,16% of claims referred to OSTI. That is certainly not the least amount of referrals.

Digging a little deeper show that out of the 51 insurers listed, 47 of them had a lower percentage claims referral rate to OSTI, and only 3 had a higher percentage claims referral rate to OSTI. By my rudimentary math skills that makes outsurance the 4th WORST insurer for claims referred to the ombud.

Clieck the link posted in my OP. The breakdown is in there.

Can read more here:

Outsurance delivers on brand promise, ranked better than ever by Ombudsman for Short-Term Insurance

Last year, when Outsurance announced a record low number of complaints referred to the Ombudsman for Short-Term Insurance (OSTI), the insurer committed to doing even better in the future...

www.bizcommunity.com

Older one, but same stats (or method) used:

OUTsurance comes out tops in the short-term insurer stakes

Short-term insurance Ombud's report shows OUTsurance has the lowest referral and overturn rates

mg.co.za

As a matter of interest, OUTsurance was one of the few insurance companies that paid out claims under Business Interruption during Covid.

OUTsurance pays out Covid-19 business interruption claims

OUTsurance CEO Danie Mathee: Why we pay Covid-19 business interruption claims

OUTsurance CEO Danie Mathee told BizNews that its brand and reputation is more important than fighting against the business interruption claims.

www.biznews.com

Outsurance stance on business interruption payouts puts other insurers to shame

No-one saw it coming. As the hospitality industry reeled from the news that the business interruption policies — even those with “contagious disease” cover — would not cover its massive Covid-19 lockdown-related losses, Outsurance revealed that it had been honouring those claims since April...

www.heraldlive.co.za

 

[mujeeb1]

Clieck the link posted in my OP. The breakdown is in there.

Can read more here:

Outsurance delivers on brand promise, ranked better than ever by Ombudsman for Short-Term Insurance

Last year, when Outsurance announced a record low number of complaints referred to the Ombudsman for Short-Term Insurance (OSTI), the insurer committed to doing even better in the future...

www.bizcommunity.com

Older one, but same stats used:

OUTsurance comes out tops in the short-term insurer stakes

Short-term insurance Ombud's report shows OUTsurance has the lowest referral and overturn rates

mg.co.za

As a matter of interest, OUTsurance was one of the few insurance companies that paid out claims under Business Interruption during Covid.

OUTsurance pays out Covid-19 business interruption claims

OUTsurance CEO Danie Mathee: Why we pay Covid-19 business interruption claims

OUTsurance CEO Danie Mathee told BizNews that its brand and reputation is more important than fighting against the business interruption claims.

www.biznews.com

Outsurance stance on business interruption payouts puts other insurers to shame

No-one saw it coming. As the hospitality industry reeled from the news that the business interruption policies — even those with “contagious disease” cover — would not cover its massive Covid-19 lockdown-related losses, Outsurance revealed that it had been honouring those claims since April...

www.heraldlive.co.za

I like you

 

[StangV2_0]

I like you

Ah thanks man, I like you too!