The secret is out: Here’s the top five insurance companies (and why we say so)

Apr 20, 2019 | Why you need a broker

Competent brokers will not expose their clients to business with dubious insurance companies. Therefore, it is crucial to stay informed about the different options out there.

Here is our list of the most reputable companies on the insurance scene in South Africa at the moment:

1. Santam

Santam is South Africa’s largest short-term insurer with a stellar track-record of expertise, experience and client satisfaction.

  • They insure more than 80 of the top 100 JSE-listed companies.
  • In the past year with available data, 99% of claims were paid out.
  • They have 24/7 availability.
  • Their safety tips and weather warnings help keep you safe.
  • They offer expert business insurance solutions and advice for the unique needs of any company (from small start-ups to established companies; from the tourism industry to health practices and more).
  • You save from the start with a monthly discount dependent on your claims history and security measures.

 

2. Old Mutual

Old Mutual’s many years of existence and great performance rank them very high as short-term insurer.

  • According to the 2016 results from the South African Customer Satisfaction Index (SAcsi), Old Mutual was in second place for short-term insurers.
  • They are proven to meet customer expectations really well.
  • They score high on reliability.
  • Their specialist expertise is of great value.
  • They write all classes of insurance.
  • They protect and help customers with dedicated aids, such as emergency apps, weather and storm alerts and other helpful tools.

 

3. AIG

AIG is a strong, global network of insurers with almost 100 years of experience as a top-quality insurer.

  • As insurer to 99% of Fortune 500 and 89% of Fortune Global 500 companies, they are the largest commercial insurer on the globe, insuring some of the world’s most complex risks.
  • AIG pays US$130 in claims daily, ranging from very small to very large.
  • They have introduced unprecedented coverages and enhancements to help organisations stay ahead.
  • They offer customised, innovative solutions to unique risks and collaborate with clients and brokers to perpetually improve their services.
  • They have substantial investments in commercial property, technology and engineering.
  • They have a wealth of both global and local expertise and resources.

 

4. Bryte

Bryte Insurance Company Limited is the premier, proactive commercial risk specialist in Southern Africa with an established, successful insurance heritage, supreme sector insights as well as proven expertise and foresight.

  • Their invested partnership model means that they proactively work with brokers and clients to enable better risk decisions and to protect businesses.
  • Bryte’s products and services are designed to meet the needs of their identified, targeted clients.
  • Clients are provided with clear information at every point of a sale.
  • They consider specific client circumstances when advising on risk exposures and appropriate cover.
  • Changing products, submitting claims, switching providers or laying complaints are relatively easy.
  • They support local projects and initiatives and proactively address significant social, environmental and governance issues affecting stakeholders.

 

5. One Sure

ONE SURE is a leading, short-term, niche insurance underwriter who has built a market reputation for being an entrepreneurial, innovative and forward-thinking organisation.

  • Many businesses were acquired and incorporated into ONE during the last 20 years, resulting in a single, integrated administrative platform with a broad product range and great specialist expertise.
  • They are well-diversified and highly efficient, providing a large range of industry-specific products and solutions.
  • They boast an AAA-rating for National Insurer Financial Strength from Fitch Ratings. 
  • ONE invests heavily in specialist underwriting management agencies and service providers that form an integral part of the overall solutions they provide.
  • They offer 24/7 assistance and services.

When it comes to choosing an insurer, you should not be satisfied with anything but the best and it is your broker’s dedicated job to ensure you get it!

And that is exactly what we do at Status Insurance Brokers! We will make use of our top 5 insurers – as mentioned above – to reduce your current insurance premium and offer you additional benefits (such as reduced excesses) as well as optional covers (such as car hire and credit shortfall). Visit us for more details.

Contacts

Landline: 0860 782 887

Cell no: 061 320 8992

Fax no: 086 568 7153

Email: info@statusib.co.za

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Status Insursance Brokers is an Authorised Financial Services Provider. Licence no. 2278