Under settlement of claim by OUTsurance

I have insured a machine with OUTsurance for R174960.00 which got damaged. OUTsurance is refusing to pay for the amount insured due to the fact that these machines are no longer in the market and there is a new version that costs R600 000.00 according to them. They then claim that i am underinsured, they used the R600 000.00 to make calculation and arrived at a figure of R40 273.77 as the amount they are prepared to compensate us with, which we rejected. This was on the 29 March 2022 and until today, the matter has not been resolved. I referred this matter to OSTI ombudsman but i am not receiving the necessary assistance.