1 reviews | Active since Jul 2016
Why is Old Mutual asking for Credit checks for a car insurance qoute?
<p>I just had a call from from the car and household division of old mutual, they wanted to quote me on a car insurance but what I was not expecting is them asking me for an ITC check consent in order for them to proceed with the insurance qoute. Sales person I spoke to is Ntombi. I refused and I really do not get it. I am not asking for a loan and you are the ones who called me. maybe someone from old mutual can give me a better explanation on this.</p> <p>21/07/2016 @ 10:30</p>
I am attending to this and will be in direct contact with you to resolve this.
Regards
Brent Sellidon
Complaints Management
I am attending to this and will be in direct contact with you to resolve this.
Regards
Brent Sellidon
Complaints Management
Good day Mosimanegape Letebele
Our iWyze underwriters has responded on the matter as follows:
"We do an ITC check on all prospective clients in order to better assess their insurance risk. It is important to note that the check we do with the credit bureaus are specifically aimed at insurance losses. You will also notice that this is standard procedure in the short term industry as most other insurers also request this at quote stage"
It is therefore a general practice for most insurers and that we do not look at credit ratings but insurance losses.
I trust that this provides clarity in this regard.
Regards,
Brent Sellidon
Good day Mosimanegape Letebele
Our iWyze underwriters has responded on the matter as follows:
"We do an ITC check on all prospective clients in order to better assess their insurance risk. It is important to note that the check we do with the credit bureaus are specifically aimed at insurance losses. You will also notice that this is standard procedure in the short term industry as most other insurers also request this at quote stage"
It is therefore a general practice for most insurers and that we do not look at credit ratings but insurance losses.
I trust that this provides clarity in this regard.
Regards,
Brent Sellidon