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Category:
South Africa
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Insurance
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Short Term Insurance
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Outsurance
OUTSURANCE
OUTsurance is a direct short-term insurance
operation within the RMBH/FirstRand
stable, a leading South African financial services group.
OUTsurance
is the global pioneer of the
new-generation OUTbonus, a concept unique within
the short term insurance industry.
OUTsurance
was the brainchild arising from
research conducted for RMBH by René Otto, Willem Roos and
Howard Aron in early 1997. Together,
they developed the business plan that positioned
OUTsurance
as a "greenfields"
alternative to the competitive South African short-term insurance market.
Launched in February 1998,
OUTsurance
soon
captured the imagination of the public with its innovative approach that
included a suite of products with a range of special features and benefits.
OUTsurance
took the lead in transforming the
negative perception of personal lines short-term insurance to a real
value-for-money service to consumers.
The
OUTsurance
business model is simple and
effective. The pillars of an actuarial rating and underwriting approach plus
effective cost and claims management rest on the base of an efficient
information technology platform. This supports the company's ability to
implement superior risk management through unique and innovative product design.
Skilled people using sophisticated systems
ensure that the company delivers on its promise - "you always get
something out."
On 1 January 2000
OUTsurance
merged with First
National Insurance, a company within the same group. The merger formed part of
the broader FirstRand bank assurance strategy and consolidated the group's short
term insurance business. As a result
OUTsurance
became one of the leaders within
the industry in offering House Owners Insurance cover to bond account holders.
Also
See:
OUTsurance celebrates R500 Million in cash
OUTbonus payments |
