Discovery Insure wont review once-off premium increase of 20%

Following an increase in my car insurance premium debit order on 01 April 2022, I emailed Discovery Insure to find out the reason and justification. Following a call back from Discovery I was resent the email from February notifying me of a 20% adjustment to my plan, stating that due to the ongoing effects of the covid pandemic there are basically shortages of parts and paint globally. This means that I am now paying more than 30% more than I was this time last year!

During further discussion with Discovery Insure, I was told that this increase percentage was based on the fact that my loss ratio is 220%, and that the calculation is 'the property of' the actuarial department and therefore they could not share the calculation with me.

So here are the numbers - I have insured my current car with them for the past 6 years, and have paid in excess of R85 000 in premiums, and claimed less than R 32 000 over this period, which makes my loss ratio in the region of 50%. I have been driving for 42 years and have only submitted claims for chipped windscreens and minor repairs - one of which was a R3300 repair since my annual increase in August.

I have sent numerous emails - with promises of call backs, which do not happen, and if I call the call centre, it refers me to their website - to get Discovery Insure to review their loss ratio calculation and therefore this unfair increase.

One cannot help but feel even more aggrieved when one looks at the lavish Discovery building in Sandton!!