This archive report was first published on 12 December 2019.
On December 12, 2019, Sanlam General Insurance introduced road assistance services for private motor vehicle clients on comprehensive insurance contracts to curb fraud and grow its customer base.
The services include on-the-spot accident assessment, free post-accident support, towing, and an optional add-on for a courtesy car and taxi service to complete the journey.
Sanlam's on-spot accident support will dispatch teams to the scene of the accident to conduct an assessment, direct local authorities to the scene, fill in the digitised accident report form, and secure statements from witnesses.
According to the Insurance Regulatory Authority (IRA), the private motor vehicle insurance business is riddled with huge claims, hurting players in this segment. Loss ratios in this business line rose to a new high of 78.75 percent in the quarter ended September.
Sanlam's move aims to address the issue of fraud in the industry, which is difficult to track due to the reliance on police reports and evidence from customers in processing claims.
