Complaints about declined long-term insurance claims accounted for 50.3% of full complaints finalised, while funeral benefits accounted for 44% and life policies for 34%.The Ombudsman for Long-Term Insurance and the Ombudsman for Short-Term Insurance got R386 456 756 back for consumers in 2023 after they complained about insurance companies.
OLTI recovered R283 084 553 for complainants in lump sums, an average of R1.14 million per working day, considering that there were 248 working days in 2023, while an additional R727 838 was awarded in 169 cases as compensation for poor service. “While the number of cases finalised decreased, the number of cases categorised as complicated increased, indicating the increased level of complexity of the cases being dealt with and the persistence of complainants.”
Edite Teixeira-Mckinon, CEO of OSTI, says her office ended the year with 12,188 registered complaints, compared to 11 542 in the previous year and closed 10 534 complaints compared to 10 411 in 2022. “The predominant exclusions were a lack of due care or precaution in preventing or minimising the loss, especially in claims involving speeding, followed by misrepresentation or non-disclosure at the time of taking out the policy or during the term of the policy and at claim’s stage.”
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