dotsure : a risk-increasing insurer ? and thus, a wilfully premium-increasing insurer ?

dotsure : a risk-increasing insurer ? and thus, a wilfully premium-increasing insurer ?

Backstory

It has been our direct customer experience that dotsure has a business model that wilfully increases ( insurance ) risk to the customer – i.e. leaving the customer with hidden and latent costs and increased insurance risk.

So, when dosture “ solves the problem “ and pays out a claim, dotsure is making the claim problem worse for a later date.

In our September 2024 geyser replacement claim and case –

• dotsure diagnosed as burst geyser with an dotsure-approved and “ AA-approved “ plumber - Master Plumbers & Projects, ***, www.masterpplumbers.co.za

• dotsure paid out a diagnosed a faulty geyser

• The dotsure-approved geyser installer who persuaded us to use a “ cheaper and better “ geyser ( evidence submitted & refer to B.R., Assistant Manager, dotsure )

• The dotsure-approved geyser installer installed the new “ cheaper and better geyser “ without reading and matching the geyser pressure to the house pressure in kilopascal or, kPa ( evidence submitted & refer to B.R., Assistant Manager & G.S., COO, dotsure )

• The dotsure-approved geyser installer installed the new “ cheaper and better geyser “ without reading and matching power to the house electric power rating in kilowatts or, kW ( evidence submitted & refer to NFOSA Case Officer C.M. and Ombudsman N. )

• the dotsure-approved geyser installer then tried to profit-gouge the dotsure pay-out ( evidence available & refer to B.R. Assistant Manager, dotsure )

• the additional backstory is that –

• dotsure administration lost our inventory list given to them 24-months before last years ( refer to B.R. Assistant Manager, dotsure )

• dotsure administration tried to falsify one or, our emails ( refer to South African Police Service ( SAPS ) Occurrence Book ( OB ) Entry 7 October 2024 )

Cost consequences of substandard dotsure-approved geyser installer and poor dotsure policy administration

As a result of using dotsure-approved geyser installer -

• Our appliances and original solar inverter failed • We had to pay for the additional cost of a new pressure valve ( evidence submitted refer to B.R. Assistant Manager, L.Q., Client Services & G.S., COO, dotsure )

• We had to pay for the additional cost of a new solar inverter – ie from 5 kW to 8.8 kW ( evidence submitted refer to B.R. Assistant Manager, L.Q., Client Services & G.S., COO, dotsure )

• We had to payout of our pocket 180% over the cost of the pay-out – ie totally about R 50K ( evidence submitted refer to B.R. Assistant Manager, L.Q., Client Services & G.S., COO, dotsure & NFOSA case ) .

Consumer reflections

We have the following reflections from this dotsure customer experience –

1. We will not accept dotsure –

• sending a dotsure-approved geyser installer who cannot read and match installation pressure in kPa – i.e. between the geyser pressure and house pressure

• sending a dotsure-approved geyser installer who cannot read and match installation power in kW – i.e. between the geyser power rating and the solar inverter power rating.

2. We are also very concerned that dotsure charges premiums for solar geysers but does not know how to repair solar geysers ? – refer to B.R. Assistant Manager, dotsure

3. We are also very concerned that dotsure sends and exposes geyser installers that try and profit-gouge from an 80-year pensioner customer and consumer.

4. We are very concerned that the National Financial Ombudsman of South Africa ( NFO SA ) is trained to read and understand geyser pressure-matching and geyser power-matching at an ordinary insured house.

5. We are very concerned that the NFOSA trained to read and understand geyser pressure-matching and geyser power-matching at an ordinary insured house.

6. We are very concerned that dotsure is the funds NFOSA or, is paymaster the NFO SA or, has NFOSA under dotsure’s “ payroll “ and NFOSA capacity to make competent and impartial decisions against NFOSA’s paymaster

https://nfosa.co.za/wp-content/uploads/***_NFO-Scheme-Rules.pdf?file_page=3&hlsentence=2%20DEFINITIONS%20In%20these%20Rules,%20unless%20the%20context%20otherwise%20requires,%20the%20following%20expressions%20have%20the%20following%20meaning:%20‘’&hlword=bungalow,meaning

7. We would like to know if the NFOSA has technical staff to read and understand :

• geyser-house pressure

• geyser-house electric power

• geyser-house pressure-matching

• geyser-house power-matching

8. We would like to know if dotsure’s shareholders know about how management, operations and executive run their company

9. We would like to know if dotsure’s shareholders know about their real value at risk because dotsure’s management and operations.

10. We would like to know if another of dotsure’s regulators – the Reserve Bank Prudential Authority https://www.resbank.co.za/en/home/publications/prudential-authority – believes dotsure can truly self-regulate ?

11. We would like presumably Delloitte https://www.deloitte.com/za/en.html, dotsure’s auditor ) to note these harmful practices to customers and consumers in dotsure’s next interim and year financial statements.

What we want …

As a directly affected and non-insider customer, dotsure is running an high-risk, high-moral hazard and cost-risk externalising operation.

dotsure needs to “ trim the fat “ , trim the company inefficiencies and pass the right insurance benefits to its customer and consumers or, sell its operation to a more efficient market operator.

In summary we require the following -

1. We require that dotsure pays for cost overruns ( at least an additional R 50 K ) because of their “ dotsure-approved geyser installer “

2. dotsure guarantees that this type of cost overrun, “ risk-transferring “ and “ inefficiency-transfer “ never happens again

3. We require no-reprisals guarantees from dotsure for raising legitimate customer concerns.