1 reviews | Active since Mar 2012
First For Women Insurance Not great
<p>On an email dated 13th May I got an contract increase to R809.10. This after on the 9th May I spoke to a consultant who assured me my premium would be R663.93. That is two increases in 14 days. I was after I called them to tell them that the original price of R663.93 was to much and that I wanted to cancel my insurance with them. They assured me they would look into it and even got transferred to a Helpful lady who assisted me. She said she would look at reducing the R663.93 as we hardly claim and now it has skyrocketed to R809.10. How can insurance companies increase there premiums by almost four times inflation or more. Policy ***</p>
We refer to your enquiry with regards to your latest policy review and wish to respond as follows.
As you are aware your policy is reviewed on an annual basis. As we have seen in recent years insurance premiums, as everything else, is unfortunately also on the rise. We confirm that the premium increased to R809.10 and the consultant that assisted you managed to reduce your premium to R663.93 based on your good profile with us.
When a policy is reviewed there are a wide range of factors that will be considered in order to determine your new premium. The use of the latest technology and improved methods to analyse risk underwriting has enabled us to have a much clearer understanding of risk underwriting as well as the wide range of factors which will influence the risk ratings of insurable goods and circumstances. This has led to new risk ratings and inevitable fee structures that may apply in certain instances.
We do however note that you spoke to a different consultant who promised to check if the premium could be further reduced. We will therefore escalate the matter to the Manager of our underwriting department to ensure that contact is made with you in this regard.
Kind Regards
The First for Women Team
We refer to your enquiry with regards to your latest policy review and wish to respond as follows.
As you are aware your policy is reviewed on an annual basis. As we have seen in recent years insurance premiums, as everything else, is unfortunately also on the rise. We confirm that the premium increased to R809.10 and the consultant that assisted you managed to reduce your premium to R663.93 based on your good profile with us.
When a policy is reviewed there are a wide range of factors that will be considered in order to determine your new premium. The use of the latest technology and improved methods to analyse risk underwriting has enabled us to have a much clearer understanding of risk underwriting as well as the wide range of factors which will influence the risk ratings of insurable goods and circumstances. This has led to new risk ratings and inevitable fee structures that may apply in certain instances.
We do however note that you spoke to a different consultant who promised to check if the premium could be further reduced. We will therefore escalate the matter to the Manager of our underwriting department to ensure that contact is made with you in this regard.
Kind Regards
The First for Women Team