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wernerbothma W

1 reviews | Active since Sept 2016

24 Feb 2022, 10:24

Naked isn't as naked when it comes to reviewing your premium

Well, I used to be happy with Naked until I started researching premiums for new cars. I got a quote for a 2021 Kia Pegas which was about R5 more expensive than what I currently pay for my 2015 Kia Rio 1.4 (4 door).

I queried them on this and they stated that my premium on my current car is the best.

For fun I then got a quote for a 2016 Kia Rio 1.4 (4 door) which was a whopping R120 a month less than my current premium.

I once again queried them on this and got told once again that, my premium is the best they can offer me.

Naked Insurance willingly disables the ability for me to get a quote for my exact year model of car because they know it will be less.

Their customer service agents, however friendly, refuse to see the logic in my problem. Nobody can get me an actual solution and the script is the script and they stick to it.

Always recommended Naked, but after this horrible experience I will never have anything good to say about them ever again.

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Replies (3)
Naked Insurance
Naked Insurance's reply24 Feb 2022, 12:27
Official
Hi Werner, as requested, we'll get a member of our management to also call you to discuss in person.

The premium calculation is extremely technical, using complex mathematics to decide what to charge for every unique combination of car (including different models/years) and individual. We're so confident that our technical models are right in charging the best possible premium that we explicitly removed the ability for our team to manually override/change premiums.

We will make sure your particular scenario is reviewed by our actuaries and data scientists - thank you for bringing it to our attention.
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wernerbothma W's update24 Feb 2022, 12:47
Reviewer Update
Guys. Are you reading what I am saying and seeing what you are saying?

How can the exact same car, which is newer cost less a month to insure? Even if I get a quote for a 2017 (which is two years newer, I will still save every month)

Your model doesn't take into account that the cars depreciate with time and doesn't allow for premiums that should be adjusted accordingly.

Right here, right right now. Do you want me to cancel my policy and move to another insurer?

You are making promises and not giving solutions. Please, on your back end use my details and generate a new quote on my car or should I prove your model wrong by cancelling my current policy and get a quote on your app for the exact same car? I promise you my business for the rest of my life that it will be cheaper.


Naked Insurance
Naked Insurance's reply24 Feb 2022, 15:16
Official
We've confirmed that our management team has been in touch. Hoping all is sorted now.