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.
Gouws comments that “the life insurance market in South Africa is still dominated by intermediaries or brokers. So, we’ll once again take the ‘direct’ approach by dealing on a one-on-one basis with the client. We trust that by doing this, clients will recognise our commitment to eliminating unnecessary costs normally added to their insurance premiums as well as our dedication to providing them with outstanding service. We also ensured that our product offers a comprehensive range of cover against death, disability and critical illness.”
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”.
OUTsurance has established itself as the leader in the direct insurance market offering car insurance, household insurance and business insurance. For awesome service and affordable insurance premiums get an insurance quote from OUTsurance. OUTsurance has now also expanded its product offering into the life insurance market, offering cover in case of death, disability or critical illness.