Old Mutual Insure sets aside R60m towards premium relief for customers

by | Apr 29, 2020 | News

Ramping up efforts to support customers managing the financial fallout of COVID-19, Old Mutual Insure has set aside R60 million towards 15% motor premium discounts in April 2020 and 10% in May 2020 for qualifying personal lines customers. Qualifying commercial and agriculture customers will receive a 10% motor premium discounts for both April 2020 and May 2020.  

If Old Mutual Insure is to live its purpose of being a certain friend in uncertain times, it’s important that, “we pass the benefits of the reduced motor claims that we are seeing in hard lockdown directly to customers most impacted by this crisis,” says Soul Abraham, chief executive retail at Old Mutual Insure.

It is at times like these that the importance of deep customer relationships and knowledge of individual customer circumstances becomes significant.

To ensure that Old Mutual Insure’s customer relationship partners are not negatively impacted by these premium cuts, “we are also committing to continue to calculate all partner fees as if 100% of the premium has been received,” assures Abraham.

This latest R60 million augments the following COVID-19 customer support initiatives already in place:

This raft of initiatives is designed to ensure that, “Old Mutual Insure remains a genuine partner in adversity, supporting customers in crisis to prosper and grow into the future by staying calm, focused and insured in the present,” concludes Abraham.

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