MG
Muhammed G
1 reviews | Active since Feb 2011
04 Jul 2022, 10:40
Multiple Price Increases
Just off a call now with Discovery Insure , my policy anniversary was on 1 June where they passed a higher than CPI increase and after a lot of back and forth we agreed on a revised value only for now to be hit with another above CPI increase one month later by something called and interim increase. The consultant advised that this is a business decision and there is nothing I can do about it. Nice being Discovery Insure and just passing increases like this month on month.
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Discovery Insure's replyOfficial
04 Jul 2022, 12:46Good day Mihammed G
The insurance is constantly calculating “data” and has to ensure that this 'rand swooping exercise' where losses may be inevitable or not ,allows for the business to cover the insured as expected. We therefore affirm that the increase is in line with the given current economic environment (vehicle and part shortages and abnormal power surge and weather events) as we are experiencing unprecedented increases in claims costs.
Regards
Discovery Insure
The insurance is constantly calculating “data” and has to ensure that this 'rand swooping exercise' where losses may be inevitable or not ,allows for the business to cover the insured as expected. We therefore affirm that the increase is in line with the given current economic environment (vehicle and part shortages and abnormal power surge and weather events) as we are experiencing unprecedented increases in claims costs.
Regards
Discovery Insure
Best regards,
Discovery Insure's reply04 Jul 2022, 12:46
Official
Good day Mihammed G
The insurance is constantly calculating “data” and has to ensure that this 'rand swooping exercise' where losses may be inevitable or not ,allows for the business to cover the insured as expected. We therefore affirm that the increase is in line with the given current economic environment (vehicle and part shortages and abnormal power surge and weather events) as we are experiencing unprecedented increases in claims costs.
Regards
Discovery Insure
The insurance is constantly calculating “data” and has to ensure that this 'rand swooping exercise' where losses may be inevitable or not ,allows for the business to cover the insured as expected. We therefore affirm that the increase is in line with the given current economic environment (vehicle and part shortages and abnormal power surge and weather events) as we are experiencing unprecedented increases in claims costs.
Regards
Discovery Insure
Best regards,