OUTsurance has been voted the most popular home and car insurance company by users of independent online financial comparison Web site ThinkMoney (www.thinkmoney.co.za). Out of a total of 1 525 reviews, OUTsurance received the highest number of reviews, with 336.
ThinkMoney encourages consumers to review financial products such as insurance, credit cards, bank accounts and more. Users can rate car and home insurance products out of five with regards to service, premiums, claims, excesses and flexibility.
Users gave the OUTsurance home and car insurance offering a fairly high overall star rating of 3.8 stars, with four stars for service. In comparison, the top overall rated home and car insurance providers were voted to Aon Insurance and MUA Insurance, who scored overall ratings of 4.3 and 4.2 respectively. Their service ratings were voted as 4.2 and four. However, these insurance companies target specific segments of consumers as opposed to OUTsurance’s more general offering. This means that for these companies, there was a smaller sample of reviews from which to draw findings.
In a recent survey conducted with a total of 2 077 ThinkMoney users, 65% said they already have car and home insurance. Of those that have car and home insurance, 82% felt they were getting the best deal on their insurance. This may indicate that consumers are satisfied with their home and insurance provider once they’ve made their choice.
However, the survey also found that out of respondents who have car and home insurance, only 51% said they had an excellent claims experience, while 31% said it was merely “good” and 12% said it was “poor”. This indicates a strong opportunity for car and home insurance providers such as OUTsurance to improve their service levels to already loyal customers. Interestingly, 54% of respondents said they would switch providers for a better deal, which implies that although they weren’t actively looking to switch, a provider that offered a better deal could definitely persuade them to move.
Brendan Els, marketing head of ThinkMoney, commented on these findings: “OUTsurance continues to lead the way in the direct insurance space with a great offering that includes a 10% Cash Outbonus, 24-hour emergency home and roadside assistance, fixed excess structures and R400 cash if they can’t beat your personal car and insurance premium. Hard to beat.”
ThinkMoney.co.za is South Africa’s leading financial product comparison Web site, with over 255 000 registered subscribers. It shops around and finds the best deals on a variety of financial products so you don't have to. ThinkMoney is entirely independently owned and run, and its comparisons are 100% unbiased.